1. Not Having Solid Written Agreements.
All business agreements should be in writing. Don't assume a verbal agreement or handshake is enough. You may be left with little recourse if a dispute arises.
2. Unclear Expectations and Rules for Employees..
All employees need to understand that they are "at will" employees. Employees need to be trained. Does your company have a handbook?
3. Not Hiring an Attorney to Help Guide You.
Every business faces issues requiring an attorney. The money you spend on experience will save you time, hassle, and money in the long run.
4. Ignorance of the Law.
Get educated on Basic Contractual Rules, Intellectual Property Rights, Primary Employer-Employee Laws...these are just a few.
5. Not Keeping Proper Corporate Records.
Failing to keep proper records can wreak havoc and cause issues with the IRS, investors, and may result in personal liability. Don't fall into this trap.
6. Ignoring Intellectual Property Issues.
Even small businesses need legal protection. Do your independent contractors and employees have to sign a confidentiality agreement?
7. Getting Involved in Litigation Before Other Avenues Have Been Exhausted.
Litigation fees can be astronomical. Consider alternative means first. An experienced attorney may be able to negotiate and settle a dispute for you.
I'm proud to announce that my firm associates with attorneys specializing in trademark law. Talk to me and protect the assets that your company owns already!
"Top 3 Reasons Why Your Company Should Take Its Trademarks Seriously"
1. Your company will grow. The growth could be as simple as a presence on the internet or it could blossom into a franchise or a line of products. Greater growth means greater opportunity for someone to steal your company's goodwill. It also means that there is a greater chance you may run into a company with superior rights to your company's trademark or a mark similar to your company's trademark.
2. A larger company may make you an offer you can't refuse. Without federal registrations, the company may shy away from a purchase. With federal registrations, a company may pay significantly more for your business.
3. Another company could have greater rights to your trademarks. If this is the case, your company may end up having to change its name or fight for its name in court. Imagine the loss of customers, the expense of changing signs, business cards, the general confusion and explanation, or the bill from your attorney for a lawsuit.
Your trademarks are invaluable while you own them and can significantly increase the price tag on your company if you were to sell it. On the flip side, not paying attention to your valuable assets could expose your company to unnecessary liability.
Items in this article may be excerpts or
summaries of original or secondary source material, and
may have been reorganized for clarity and brevity.
This article is general in nature and is not intended to
provide specific legal or other advice.
