Business Intellectual Property: Understanding the Difference Between Copyrights, Trademarks, and Patents

Every day, your business is creating intellectual property that you should be keeping track of and protecting. But where do you start? How can you tell the difference between a trademark, copyright, and patent, let alone figure out how to protect and monetize them? No need to panic. Most of your IP will fit easily into one of these three groups and each has its own set of protections established by law. Read More

Contractually Assured Destruction: 4 Mistakes Every Business Must Avoid

Contracts are the backbone of every successful business. No matter the size of the company, every business owner must at least understand the basics and the necessity. Simply having a hand-shake contract or a contract written on a napkin is rarely ever going to be effective. And whether you have poor, unenforceable contract, or a complete lack thereof, it will usually lead to costly litigation and a serious Read More

5 Key Questions to Ask Before Buying an Existing Business

Buying an existing business can be a great way to expand your holdings and increase your revenue. It can also be a money pit waiting to happen. Before moving forward with the acquisition of a business, you should ask yourself and the seller these five key questions in order to minimize the risks involved in the transaction. 1)Why are they selling? This is perhaps the single most important question to ask Read More

3 Types of Contracts/Agreements Your Company Should Be Using

There may have been a time where a handshake and promise was good enough to trust that someone would keep their word, but modern businesses live and die by contracts. Unfortunately, you simply cannot trust that people will always do what they say they will do or what you instruct them to do. You need concrete and thorough contracts and agreements in place to ensure that your company’s interests are always Read More

6 Tips to Help You Win Lucrative Government Contracts

As you probably know, government contracts are some of the most lucrative contracts available—no matter what industry your business operates in. However, landing such contracts is no walk in the park. Not only is competition fierce, but you must also walk a tightrope between putting forth a bid that will be irresistible to the government, but also fiscally reasonable and manageable for your business. In today’s Read More

8 Tips to Help You Mitigate Your Risk of Employee Lawsuits

Unfortunately, there is simply no foolproof way to guarantee that your company will never get sued. You can prepare all you want and take every step possible to try to prevent lawsuits, but we live in a litigious society where just about anyone can sue your business for just about anything. Your best course of action is to mitigate your risk and put your company in the most advantageous position possible to win Read More

6 Tips to Help Your Company Avoid Fair Labor Standards Act (FLSA) Violations

The Fair Labor Standards Act (FLSA) was originally established in 1938 and has since seen numerous updates and amendments. This federal statute governs numerous aspects of employment law, such as things like minimum wage, overtime, child labor laws, and much more. The FLSA is a complex piece of legislation, and it can be incredibly easy for a business to violate certain aspects of the law. Particularly in the Read More

7 Essential Qualities of Forward-Thinking Companies

When an entrepreneur builds a business, most of them do so with the future in mind. They want to build something that will be successful and stand the test of time. They want to breed growth and longevity—not to mention make money. After all, being told that your company is “stuck in the past” isn’t exactly a compliment, and competition in the business world is fierce. For every Apple or Google, there are Read More

3 Significant Benefits of Arbitration

Arbitration is a form of Alternative Dispute Resolution (ADR) whereby the interested parties refer their issue to an arbitrator—usually just one but sometimes a tribunal—who will review the evidence and listen to each party’s case in a relatively informal hearing, and then make a decision regarding the dispute. As with all forms of ADR, arbitration is a means of resolving a dispute outside of the courtroom and a Read More

5 Signs Your Company Should Pursue Litigation

Deciding to enter into litigation in order to resolve a dispute is a major decision for most businesses. There are numerous forms of legal dispute resolution available, such as alternative methods like mediation or arbitration, and litigation is generally the most aggressive and potentially risky option. But sometimes it can be the only means for achieving the resolution you desire. So how do you know if Read More