You have a business and you want to protect your brand with a trademark so no one else can use it. After all, if another company in your industry starts to use the same brand name as you, consumers could be confused. You don’t want them to think a competitor’s inferior products and services come from your company! That’s great! You understand how important protecting your brand is to building a successful business! So you file an application for trademark registration and learn that your mark has been approved for the Supplemental Register, not the Principal Register. You think, “Wait a ... View Post
4 Types of Contracts that Must be in Writing – No Matter What
Did you know there are some contracts that must be in writing or they’re not enforceable? Every state in the U.S. has some form of what is known as the Statute of Frauds, which says that while most verbal contracts are enforceable, certain contracts are not. The Statue of Frauds prevents people from defrauding one another by claiming they’re entitled to benefits under nonexistent contracts. There are four types of contracts that must be written according to the Statute of Frauds, which business owners should be aware of: 1. Land Contracts Contracts related to the sale of an interest in ... View Post
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 you can no longer take care of your business? Unfortunately, most businesses aren’t liquid enough to continue operating and supporting the owner’s family and employees if the owner dies or is no longer physically or mentally capable of running the company. However, with the right plan in place, ... View Post
How to Minimize Risk to Your Trade Secrets When Employees Leave
I’m sure you’ve worked very hard to build your business, and you’ve probably spent a lot of time, energy, and money into developing processes, policies, and strategies that enable you to create and sell your products or services. But what happens when a key employee who knows the ins and outs of those processes, policies, and strategies tells you he or she is leaving your company? How do you protect all of those systems that you worked so hard to develop for your business? These are your valuable trade secrets, and they give you a competitive edge in the marketplace. You don’t want them ... View Post
5 Things Entrepreneurs Should Know about Intellectual Property
I’m excited to announce the launch of my first free online course -- 5 Things Entrepreneurs Should Know about Intellectual Property. As an intellectual property attorney, this topic is near and dear to my heart, but more importantly, it’s essential information for business owners in the digital age. In this course, I show you the critical steps you need to take to turn your innovation into profits. In other words, these are the five things you must know to ensure your knowledge, ideas, and innovations have the opportunity to transform into valuable business assets that drive profits. Every ... View Post
How to Prevent and Protect Yourself from Business Identity Theft
Have you been the victim of identity theft or do you know someone who has? The risk of personal identity theft is so great these days, but did you know that your business identity could be stolen, too? Business identity theft is a growing problem, but unfortunately, most business owners are unlikely to discover that their identities have been stolen until a lot of damage has already been done. Business Identity Theft Poses Significant Risk Stealing a business identity is easier than you might think. For example, thieves could access your business bank account information and then make ... View Post
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