The key to a successful business is having the right people, financial knowledge, effective processes, and a well-researched business plan. According to the Bureau of Labor Statistics, approximately 20 percent of businesses fail in their first year, and 50 percent fail by their fifth year. Forming and running a business is hard regardless of whether […]
Common Business Formation Mistakes Read more »
A company’s brands are often among its most valuable assets, as they: Embody its reputation. Distinguish its goods or services from those of competitors. Signify the consistent quality of those goods or services to consumers. Create important goodwill with customers. Given the business and competitive importance of brands, companies should maintain a robust program covering
Brand Protection Basics Read more »
You don’t need to have a summer house in the Hamptons or a private art collection big enough to rival MOMA to consider yourself the owner of an estate. In fact, virtually anyone who owns anything has an “estate” in the eyes of the law. Although the term may conjure images of expansive country properties,
If I Don’t Have an Estate, Do I Really Need an Estate Plan? Read more »
Hiring workers is an important step for a business. A business owner is faced with a chicken-and-egg dilemma: Is it better to hire employees anticipating that the business will grow, or wait until the business has grown and then hire employees? When a business is starting out, a full-time employee may not be needed. Business
What You Need to Know about Hiring Your First Contractor Read more »
Pursuing a business venture naturally involves risk. Eliminating all risk is not an option—there are many factors beyond your control, and it is impossible to prevent every circumstance that might deviate from your plans. Nevertheless, you can decrease the degree of risk to which your business is exposed by identifying risks and taking proactive steps
Five Types of Risk Businesses Face Read more »
The Foreign Investment in Real Property Tax Act of 1980 (FIRPTA) requires foreign (non-US) individuals and entities to pay tax in the US on gains and losses from the sale of a US Real Property Interest (USRPI), as defined in Treas. Reg. § 1.897-1. USRPI is an interest in real property (other than solely as a creditor) in
UNDERSTANDING FIRPTA Read more »
It’s clear why you might want to avoid court involvement in your estate for financial reasons, knowing that probate can quickly get costly and time consuming for those involved. But there is an emotional component to it as well. Your assets are just that: yours. And the idea of them being discussed and deliberated on
How to Build Freedom From Court Interference Into Your Estate Plan Read more »
When you create a limited liability company (LLC) or a corporation, the concept of limited liability is one of the key rationales for those entity choices. Limited liability is typically available when you create distinct legal entities that separate your personal assets from your business assets, thereby limiting exposure to liability on both fronts. Even
Risky Business: Piercing the Veil and How It Puts Your Business at Risk Read more »
Against the backdrop of globalization and the expansion of online business activity, trademark infringement is on the rise. Most elements of business branding—name, logo, design—are readily available online, making it easier for people to knowingly or unknowingly use the intellectual property of others. As a business owner, you must prioritize both protecting your own trademarks
Four Things Business Owners Should Know about Trademark Infringement Read more »
Purchasing and selling commercial real estate is often a complex and lengthy process. Although most commercial real estate purchase and sale transactions follow the same workflow, every transaction has its own nuances and vary depending on many different factors. Regardless of the factors involved, there are certain key provisions that are heavily negotiated in most
Negotiating commercial real estate purchase and sale agreements Read more »