It’s a simple fact of entrepreneurship: Small businesses fail all the time and for many different reasons, some of which are outside of the owner’s control. If you’re falling deeper and deeper into debt by keeping your company open, sometimes the best business decision you can make is to shut down the business and cut […]
Read MoreOne of the primary reasons business owners set up corporations and limited liability companies (LLC) is to shield their personal assets from debts and other liabilities incurred by the business. Indeed, corporations and LLCs exist as separate legal entities from their owners, meaning the business itself can acquire assets, enter into contracts, and take on […]
Read MoreNon-compete agreements are commonplace in today’s workforce. According to reports from the U.S. Department of the Treasury, roughly 19 percent of American workers, or 30 million people, are currently covered by non-compete agreements. While non-compete agreements are fairly widespread, they’ve come under fire lately in the courts as being unfair to employees and imposing overly […]
Read MoreCivil disputes between two parties can be settled in litigation (i.e., court) or through arbitration. The two processes are quite different, so thoroughly understanding them both is essential when facing a business conflict. Going to Court In litigation, two parties resolve their conflict in court with the assistance of a judge and/or jury. Litigation is […]
Read MoreBusiness litigation is an expensive use of both time and money and should be avoided whenever possible. Even the most favorable of settlements can cost a business months—if not years—of productivity and focus. To avoid the high costs of litigation, follow these six preventive steps: Don’t skimp on contracts. Instead of spending a fortune […]
Read MoreIn part 1, we discussed the importance of knowing how to negotiate business deals and mitigate conflict whenever possible. Besides being a financial drain, business disputes can also create conflicts that require precious time and energy to resolve. Setting clear boundaries and realistic expectations when making professional agreements is essential in setting yourself up for […]
Read MoreA large part of being a successful business owner is knowing how to make deals and facilitate conflict when it arises. When in a dispute over a deal or an agreement that has been made, the potential costs are endless. The potential cost of litigation, the potential cost of loss of reputation, the potential cost […]
Read MoreBuilding a business empire, enterprise, or even just a start-up has its price. The image of the confident and charismatic CEO often falls short of reality. Before, during and after public visibility often comes personal self-doubt, anxiety and mental anguish. Many business owners don’t readily divulge the distress they feel because they don’t perceive it […]
Read MoreMany businesses maintain an industry advantage through control and utilization of trade secrets. Be it a formula, a design, or a process, trade secrets can provide advantages over the competition. Not surprisingly, trade secret misappropriation is a serious concern for many businesses. Until recently, it’s been state law at the forefront of regulating and protecting […]
Read MoreSome businesses rely on their ability to create and sell or otherwise leverage their original works. Obtaining a copyright for those works is not just important, it can actually make or break the business by allowing the owner to pursue copyright violations aggressively. Getting a copyright is not difficult. It just takes a little time […]
Read MoreIn June, the Federal Aviation Administration (FAA) released its operational rules for the commercial use of drones, also known as unmanned aircraft (UAS). These rules provide clarity for businesses who may be contemplating the use of drones for commercial purposes. Perhaps the most well-publicized intended use for drones came from Amazon, the online retail giant. […]
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