Author: rainmakereditor

Business Owners & Managing Partners—Keep those Minutes Updated

Posted by rainmakereditor on February 5, 2019 with 0 Comment

There may have been a lightbulb moment when you—and perhaps with a partner or two also—came up with a breathtaking idea, an invention that you knew would be in great demand later if you could just turn it into reality and become business owners or managing partners. Along with the latitude to work on and build your own business model, being your own boss means setting your own hours, making your own decisions, and being in much greater control of your life and its direction. Hopefully, there is the potential for making a good living, as well as the possibility for helping other people in your community or maybe even around the world.

There are numerous downsides to owning a company too, from typical daily stressors like managing a team to figuring out how to keep cash flow running properly. There are a variety of different little headaches in between also, and many of them relate to corporate administrative tasks. While they may seem like the easiest to procrastinate on, they can multiply out of control before you realize it. If you do not have someone handling these tasks for you, or if they need to be delegated, do so as quickly as possible. Scheduling corporate meetings, keeping up with all the records, and tending to the minutes is a perfect example. Keeping of the minutes is required for tax purposes and by federal law, and in most cases if you are the head of a traditional corporation or are the managing partner of another type of formal business entity (depending on state law), notes must be taken during at least one meeting per year.

Keeping the minutes for your company may be as simple or as complicated as you deem necessary, with notes usually expected too from meetings between shareholders, activities such as hiring new employees and giving them raises, bringing in new officers, and financial events like taking out loans or opening new accounts. All in attendance during such meetings or events should be noted, with the minutes kept in a secure location with the rest of your corporation’s important paperwork.

Do you have questions about a business issue, or do you need legal assistance regarding a business dispute? If so, contact the Bolender Law Firm. Our attorneys are experienced in representing clients in state and federal courts, at both the trial and appellate level. Call us at 310-320-0725 now or submit an easy consultation request online. We are here to help!

Bad Faith in Third Party Claims

Posted by rainmakereditor on February 4, 2019 with 0 Comment

Car insurance is a good example of a scenario where third party claims may be involved. And it is up to you to make sure they are covered, up to a point, too, so that they do not come after you personally! Buying insurance is all about risk protection—and considering that traffic incidents on today’s highways just continue to increase, hedging your bets with as much automobile insurance as possible is never a bad idea. And while none of us wants to get into any sort of accident at all, it can be doubly worse if it is our fault. When injuries and property damage are involved, there can also be a great deal of emotional stress and being able to offer financial compensation is key.

Trying to deal with an insurer that is slow in paying a claim may seem excruciating, but such an experience is even worse when they are supposed to be covering an accident where you were found at fault. If your insurance company has refused to settle in bad faith, you could be left extremely vulnerable financially; in fact, you could be sued personally. In some cases, the plaintiff may obtain a judgment against you, making life even worse with the potential for a series of wage garnishments, loss of property, and levying of financial accounts. This is not the time to go it alone! Consult with a skilled bad faith insurance attorney from a law office like the Bolender Law Firm.

If the insurer from your side (or if you are involved in a claim where the other party’s insurer is supposed to pay you) is not responding much at all, you may begin to worry that they are not going to honor the claim. Other signs of bad faith include:

Failure to even acknowledge the insurance claim
Lack of investigation of the claim
Delays with little explanation or unreasonable excuses that hold up all parties involved
Low-ball offers to pay the claim
Intimidating behavior toward you or toward witnesses involved in the case
Intimidating requests for excessive documentation
Outright denial of claim without a valid reason

If you need help reviewing your insurance policy, or if you suspect your insurance company may be denying your claim in bad faith, contact the attorneys at the Bolender Law Firm. If a dispute over a claim cannot be easily resolved through a call or written communication, our attorneys will advocate on behalf of policyholders through litigation, arbitration, or non-binding mediation. Our attorneys are experienced in representing clients in state and federal courts, at both the trial and appellate level. Call us at 310-320-0725 now or submit an easy consultation request online. We are here to help!

Was Your Insurance Coverage Misrepresented?

Posted by rainmakereditor on February 1, 2019 with 0 Comment

In the beginning, purchasing insurance coverage is all about peace of mind, and as we so often hear, that does not come cheap! When it comes to protecting your health, home, business, livelihood, and so much more though, you most likely will be forced to bite the bullet and pay what could be hefty premiums for insurance—and perhaps for numerous policies. This usually happens via an insurance agent, and while it could be someone you have trusted for years, and who has always taken care of your coverage properly, you may have instead had to look for someone to help with new types of coverage.

Choosing an insurance agent is not an exercise that should be taken lightly, and you may want to speak with several different individuals before making a choice about which agency or insurance company to go with; after all, this person is going to be responsible for helping you make sure your home is protected in the case of a disaster, that your business is protected if someone takes a fall on a slippery floor and sues, that you and loved ones are taken care of in the case of a major car accident, and so much more. The insurance agent is responsible for making sure nothing falls through the cracks!

In some very unfortunate cases though, the insurance agent may be negligent—or customer service agents for the agency or larger corporation may not do their part sufficiently in handling your policy. While it is easy for misunderstandings to arise due to the complexities of insurance—and especially in a policy containing massive amounts of legal jargon—it is up to the agent to be the industry expert and make sure to explain your policy in full as well as answering as many questions as you may have.

Misrepresentation regarding your policy could occur for numerous reasons. While the insurer could be acting purely in bad faith, making changes to or canceling your policy without warning, it could also be that the insurance agent simply did not understand some part of what they were selling to you. They may have been confused about a clause within the policy, forgotten about an exclusion, or failed to tell you about another policy you needed to buy separately for total coverage; or, they may have failed to get coverage as promised altogether. With the help of a skilled insurance attorney, you may be owed significant damages through the agent’s errors and omissions company.

The Legal Implications of Intellectual Property Infringement

Posted by rainmakereditor on January 31, 2019 with 0 Comment

Protecting your business is one of the most important things you can do throughout life. This is a multi-faceted endeavor too, as there are so many areas that can become vulnerable, leading to insurance liabilities, security breaches, and more—to include loss or theft of intellectual property. This could be inventions that need to be patented or copyrighted works whether pieces of architecture, software innovation, literature, music, or more. Trademarks such as logos and symbols must be protected, as well as service marks designating what you provide to your specific industry.

And while protecting from infringement is always something to guard against, there may also be true confusion regarding who intellectual property belongs to within the workplace. To avoid any gray area regarding your ownership over the innovations created within your business, employee confidentiality and non-disclosure/non-competition agreements are recommended whenever possible. While they cannot completely ensure you won’t have any problems or that you won’t have trade secrets walking out the door without your knowledge, they are your best preliminary bet for fending off complications and the potential for serious financial loss and harm to your company.

In the case that your intellectual property is being used without your permission and simple communication with the other party asking them to cease such activities is not effective, you do have legal recourse and should consult with a skilled intellectual property attorney as soon as possible. You may have questions about what makes intellectual property yours, and technically, it is yours as soon as it comes into being—as soon as you or an employee or independent contractor make it. In some cases, this could be enough to fight against infringement, but depending on the value of the items at hand you may not ever want to take that risk.

The other party may have considerable or unforeseen resources to fight you, even if they have taken what was your original creation. That could make suing more challenging if you have not applied for registration or licensing. Again, this is a job for your attorney, who can advise you on what type of applications and licenses to pursue, whether from the U.S. Trademark and Patent Office, the U.S. Copyright Office, or other entities for items like domain names and more.

The Bolender Law Firm can assist you in all intellectual property matters. Call us at 310-320-0725 now or submit an easy consultation request online. We are here to help!

What is an Errors and Omissions Insurance Claim?

Posted by rainmakereditor on January 30, 2019 with 0 Comment

Purchasing insurance can be a stressful experience in some cases, and having to file an errors and omissions insurance claim is most likely something you will never expect to have to do. Chances are, your life is busy (like so many consumers today), with little time to research what your needs really are for protecting your home, your business, your car—and even your health. We rely on insurance agents to know the facts and present them to us in a more consolidated form, informing us about our options as well as laws, exclusions, other needs we should consider, and of course—the financial end regarding cost, payment schedules, and more. Your insurance agent may also want to examine any existing policies to see where they are lacking and then make improvements, along with continuing to maintain them over the long run; in fact, some policyholders may work with the same agent for years.

Insurance agents are often recommended by word of mouth, through friends or other business peers, known for their industry expertise, and above all—excellent customer service. They should be skilled at helping you target exactly what you need regarding a variety of different lines of insurance, as well as assisting you in the claims process should that be necessary. But what happens when you must file a claim against them? This is where errors and omissions insurance kicks in for the agent as you file an E&O claim with the help of an attorney from a law office like the Bolender Law Firm.

Negligence may have occurred on the part of your insurance agent due to a wide range of reasons such as failing to explore your needs appropriately and leaving you or your business vulnerable, failing to procure coverage as promised or not letting you know about an impending cancellation, required change to your policy, or other issue that causes negative consequences.

In some cases, the insurance agent may also have failed to send in information regarding a claim to the carrier at all, which could cause massive issues all around—and leave you emptyhanded after a disaster to your home or business that required immediate resolution from the insurer you trusted and paid diligently (even when some premiums may be exorbitant!). You could be owed significant damages to be paid out through the agent’s E&O insurance, depending on what happened—and the scope of their negligence in providing the proper care to you as a policyholder.

If you suspect negligence on the part of your insurance agent or insurance company, contact the Bolender Law Firm. We will advocate on behalf of policyholders through litigation, arbitration, or non-binding mediation. Our attorneys are experienced in representing clients in state and federal courts, at both the trial and appellate level. Call us at 310-320-0725 now or submit an easy consultation request online. We are here to help!

Which Form of Intellectual Property Protection Applies to Your Work?

Posted by rainmakereditor on January 29, 2019 with 0 Comment

Businesses of all sizes are innovating more than ever, as so many industries in the US continue to grow, with designers, engineers, and many different types of hardworking individuals finding new ways to improve processes or create new ones altogether, often requiring intellectual property protection. But if you are the owner of a company, whether it is new or has been in business for decades, you may just be learning about how to protect your work. This can be complex, and some find it intimidating to deal with from the outset which is why it is easier—and best—to work with an intellectual property attorney from an office like the Bolender Law Firm.

Interestingly, intellectual property does belong to you as soon as you create it—without your having to do anything else at all. And while registering your work with the U.S. Patent and Trademark Office or the U.S. Copyright Office, no matter which type it is, does give you more legal recourse should there be reason to sue or have to defend yourself, it is important to have confidentiality and non-disclosure agreements in place for employees just so that it is completely understood that your business retains ownership of the projects created within the company—and that trade secrets are not to be shared with any outside interests.

Your attorney will be able to advise you regarding which type (or types) of protection you need, but following are the basics in intellectual property:

Copyrights – this protects what are generally known as artistic works of expression, which could span everything from literature to pieces of architecture or even software. Such protection usually spans the lifetime of the creator and 70 years after that.
Trademarks – these are vital to businesses usually in the form of logos or symbols, and allow your customers to recognize you, often from far away (think of those ubiquitous golden arches!). Protecting your trademark means that other companies cannot infringe on branding that denotes the products you sell or service marks, denoting what services you offer to the public.
Patents relate to inventions and are usually good for around 20 years, meaning you have sole rights to distribution and manufacturing.

The Bolender Law Firm can assist you in all intellectual property matters. Call us at 310-320-0725 now or submit an easy consultation request online. We are here to help!

Business Topics: What Defines a Trade Secret

Posted by rainmakereditor on January 28, 2019 with 0 Comment

Tens of millions of business owners in the US are currently hard at work performing all the duties that may sometimes seem like a daily grind when it comes to necessities like ordering, scheduling, paying bills, and more, but there are also the more fulfilling facets such as creating dazzling marketing campaigns to bring in the customers, adding new employees to strengthen a growing team, making plans and goals and putting them into action, and most importantly, continuing to innovate and entice consumers. This may require registering copyrights—even to include a volume of work—trademarks and service marks, and inventions that must be patented.

Bringing forth new creations into your industry may encompass enormous financial resources, endless hours, and collaborations with a variety of team members, to include independent contractors who may be brought in at different times depending on projects. Some of what you produce may end up becoming trade secrets that are vital to your business for as long as it is running, and there is plenty to know about what defines them—and how to protect them.

According to the U.S. Patent and Trademark Office, a trade secret (also serving to ‘complement’ the patent) is used for business purposes and may comprise the following:

Formulas
Patterns
Compilations
Programs
Devices
Methods
Techniques
Processes

The USPTO states that courts can not only help businesses protect their trade secrets by ‘ordering parties that have misappropriated a trade secret to take steps to maintain its secrecy, as well as ordering payment of a royalty to the owner,’ but they can also force parties responsible for misappropriation to pay substantial fines and costs related to damages and legal fees. It is also up to the holder of the trade secret to make sure they do indeed maintain its secrecy; if they do not, it is then considered ‘released.’ The Bolender Law Firm can assist you in all intellectual property matters. Call us at 310-320-0725 now or submit an easy consultation request online. We are here to help!

Intellectual Property Topics in Business: Protecting a Collection of Works

Posted by rainmakereditor on January 25, 2019 with 0 Comment

Owning a business is certainly not for the weak of heart—and this becomes apparent from the beginning. Moving past the dreaming about it and creating a concept phase, once you get into solidifying a business model, finding a site or building one out, procuring proper licensing, and founding a company, both the excitement—and stress—levels begin building. And for many this never ends, whether in a positive or negative manner. Running your own company is a multi-faceted endeavor that requires immense time, effort, and dedication; in fact, you may find that you begin spending more time there than at home, with your team beginning to feel like family as well.

Bringing in customers is central to your business, along with so many other elements that are important to helping your company thrive. They must know how to recognize your business, via a domain name, logos and trademarks familiarizing them with what products you offer, as well as service marks that designate what services you provide. From purchasing all the proper insurance coverage to putting a security system in place, protection is key to your business. And although you may not put much thought into it at first, this may be more important for your intellectual property than anything else! This is especially relevant if you are in the business of creating works that others may want to steal for their own advancement.

You may have a collection of pieces that require copyright protection too, preventing against infringement or unauthorized use by other parties. This could be architecture, software, or music, literature, or more. And the key here is that in protecting an entire body of work together—rather than piecemeal—you can cut out the repetition of multiple application processes and registrations, waiting periods (which are usually up to seven months or more), and the potential expense of registering multiple items.

Consult with a skilled attorney from the Bolender Law Firm to review your intellectual property needs, along with gaining more understanding about copyright protection and how important it is, from registering with the U.S. Copyright Office to handling employee and independent contractor agreements regarding non-disclosure. The Bolender Law Firm can assist you in all intellectual property matters. Call us at 310-320-0725 now or submit an easy consultation request online. We are here to help!

Rescission or Reformation: What is Best for Your Business Contract Now

Posted by rainmakereditor on January 24, 2019 with 0 Comment

Although you may have heard the saying more than once that ‘contracts are just made to be broken,’ in most cases that is not easy to do, and such action may result in unpleasant repercussions such as lawsuits and resulting monetary damages. As the owner of a business, you have probably signed your share of contracts, but it when it comes to creating them, it is vital to enlist the help of a skilled business attorney from an office like the Bolender Law Firm.

A legal professional will guide you in the basics of what you need in a contract. If you are hiring new employees, it is vital to have an airtight contract that not only outlines the details of their position, pay, hours, and benefits, but also includes any necessary confidentiality, non-disclosure, and non-compete clauses. If you are creating a contract for one or more partners that you will be sharing your business with, the basic points should cover who does what, business titles, who gets what in terms of shares and profits (and when), and how to handle any potential dissolution of the partnership and their shares in the business. Many other contracts may be needed too over the years, from agreements with vendors to real estate contracts or those regarding other property and inventory.

And while many of your contracts may be solid from beginning to end, and working relationships may span decades, agreements may need changes—some of which are required by the court. Contract reformation means that some parts of your contract may need to be changed due to confusion over the way it was initially worded. There may have been actual errors in the contract, or it may become obvious that one or more parties misunderstood and were uncomfortable with upholding their end of the current agreement.

If the contract is problematic overall, contract rescission may be necessary, terminating the contract completely—although there is always the possibility of creating a completely new one later. This may happen in the case of a contract that was not drawn up properly or was contributed to or signed by parties under duress. Once rescission occurs, all parties are freed from the terms of the contract.

Do you need legal assistance with drawing up a business contract or handling a business dispute? If so, contact the Bolender Law Firm. Our attorneys are experienced in representing clients in state and federal courts, at both the trial and appellate level. Call us at 310-320-0725 now or submit an easy consultation request online. We are here to help!

Why Insurance Agents Make Mistakes

Posted by rainmakereditor on January 23, 2019 with 0 Comment

Insurance agents usually possess myriad and impressive abilities which convince us to go with their companies in the beginning. Shopping around for the best policies, rates, and customer service skills can be a formidable task—not to mention exhausting. The key is to work with an agent who is licensed in all the areas of insurance that you are considering purchasing, and who possesses a great deal of wisdom and knowledge about the industry that you most likely do not. They and their office should also demonstrate excellent organizational skills and put their customers first.

You may have also chosen an insurance agent through word of mouth via friends, or perhaps you are friends with them yourself from years past or just in getting to know each other via the business transaction of purchasing coverage. Depending on the scope of a resulting claim, if something goes wrong, you may be extremely frustrated. The problem in many cases though—no matter the severity of the claim—is that sometimes policies may be so complex that even an agent does not have a clear understanding of every detail, or they may not be apprised of many of the constant changes occurring in the industry.

Making a mistake as an insurance agent can lead to very serious repercussions for everyone involved, which is why errors and omissions insurance exists; however, you may have to go through some headaches to see a claim paid even if the oversight was on the part of the agent. Other reasons for a major error could be:

Simple lack of knowledge
Carelessness when writing a policy
Lack of attention to your needs as a policyholder
Failure to procure correct coverage for you
Failure to report the claim

Measures you can take on your end to avoid insurance issues or claims denials are to make sure you are working with an agent or company that has a good reputation, understand what type of coverage you require personally or for your business, and don’t be afraid to ask a lot of questions! Negligence on the part of your insurance agent could mean that you are owed significant damages, and this is not a legal issue you should attempt to handle on your own.

Speak with an attorney from the Bolender Law Firm to review your options. We will advocate on behalf of clients through litigation, arbitration, or non-binding mediation. Our attorneys are experienced in representing clients in state and federal courts, at both the trial and appellate level. Call us at 310-320-0725 now or submit an easy consultation request online. We are here to help!