Small business owners who plan to build websites or use social media to promote their goods and services may want to understand the concept of intellectual property rights to avoid any litigation that may occur during the process. The definition of intellectual...
Business & Commercial Law
How do you solve disputes with business partners?
When you get into a dispute with a business partner, you want to take a step back and make sure that you evaluate the situation carefully before you do anything. The last thing you want is to damage your ties, which are the lifeblood of a healthy and growing business....
4 things to include in a sole proprietorship buy-sell agreement
A sole proprietorship is different from most other business structures in that there is a close identification between the company and the owner. It is possible to sell a sole proprietorship just as it is possible to sell any other type of business. However, because...
How does a trademark differ from a patent?
Intellectual properties include trademarks and patents. You may register and protect them through the U.S. Patent and Trademark Office. As noted by USTPO.gov, trademarks consist of symbols or words describing your brand, product or service. Patents reflect a unique...
Common mistakes that lead to partnership disputes
Starting a new business is exciting, and pooling your talents and resources with a partner can help to ensure the success of your venture. Unfortunately, an estimated 70% of business partnerships fail, according to Inc. Avoid these mistakes that can lead to...
Did a client fail to pay you?
Many independent contractors in the current workforce struggle with collecting payments from clients. In fact, an unfortunately large amount - perhaps including yourself - run up against customers who will not pay you after you have held up your end of the contract....
Pitfalls to avoid in buy/sell agreements
A buy/sell agreement protects businesses with many owners from disputes over succession. If an owner retires or leaves the company, the agreement provides a template for transferring value to the remaining owners. Continue reading to learn some basic mistakes to avoid...
What is due diligence?
You hear the term “due diligence” a lot in the business world, especially in the areas of acquisitions and mergers. But what does this term mean? What does it require of you? As explained by the Corporate Finance Institute, due diligence is the extensive investigative...
What is patent infringement?
A patent is a type of intellectual property that grants the patent holder the right to exclude others from making, selling, importing or using their unique invention or innovation for 20 years. The United States Patent and Trademark Office issues these rights. Patent...
Is it time to buy out my business partner?
Starting a business with a partner can be the beginning of an exciting venture. Whether you and your partner came up with the idea together or your partner joined you down the road, your team likely gave your business the boost it needed to get started. As time goes...