Your business has intellectual property made up of your collective ideas, innovation, and intelligence. Your intellectual property can include trade secrets, trademarks, copyrights, and patents. There is no arguing the fact that intellectual property has value. A trade secret like the recipe for Coca-Cola can give a company a competitive advantage that lasts for a…
Brand Name, Product Name, Business Name – What’s the Difference?
Did you know that a brand and business are not the same thing? The names could match, but they’re not the same thing. Did you know that a product and a brand are not the same thing? Again, the names could match, but they’re not the same thing. Are you confused? Don’t worry. You’re not…
5 Looming Disasters if You Don’t Have a Business Succession Plan
As a business owner, you have a lot of responsibilities resting on your shoulders. From your family to your clients, employees, and partners, there are a lot of people counting on you today and in the future. Do you have a business succession plan in place to make sure they’re all taken care of if…
Starting a Business? You Need a Plan for Success
According to the Small Business Administration (SBA), 414,043 small businesses opened their doors in 2015 (most recent statistics), but 395,602 closed. Wow! The SBA also reports that only half of new businesses survive for five years or more, and only one-third survive for 10 years or more. The statistics prove there is no guarantee that…
5 Brands that Reinvented the Brand Wheel to Stay Relevant
We all strive each day to stay up to date with the latest trends in order to remain culturally relevant. Brands, just like people, also have to adapt their style in order to keep a pace with today’s changing world. Check out these five brands that have demonstrated their ability to respond to consumer preference and…
5 Common but Deadly Small Business Legal Mistakes
Thousands of small businesses open in the United States each year, but the number that survive and thrive for decades are in the minority. Many of these small businesses fail because small business owners make deadly legal mistakes, particularly in the early days—before and after they open their doors to customers. Don’t be among the…
Trademark Scams – Don’t Pay for What You Don’t Need
In a previous blog post, I shared some tips to protect yourself from trademark scam letters, and unfortunately, the number of scammers continues to grow. That means you need to understand how these scams could affect you so you don’t spend unnecessary money or time thinking about them. The Trademark Scam Letter You filed a…
Confusing Employees and Independent Contractors: A Costly Risk
Employees and independent contractors are not the same, and the difference isn’t just that employees are on your payroll and independent contractors are not. It’s also not just that employees should sign employment agreements and independent contractors should sign independent contractor agreements. And it’s definitely not that you don’t have to provide medical benefits to…
5 Secrets to Raise the Next Generation of Business Owners
For small business owners, one of the most important concerns—but also, one of the least often considered concerns—is who will run the business when the owner moves on. Whether you plan to retire or are unexpectedly forced to step away due to health or other problems, you need a plan in place to ensure your…