Tag: Business litigation attorneys

Business strategies

Business Strategies: Figure out Partnership Exits at the Beginning

Posted by Jeffrey Bolender on with 0 Comment

While some business owners employ many different business strategies and some prefer to fly solo, many others find that their companies thrive with the boost of one or more partners; in fact, if you do have business partners, these could be individuals you have known for many years—and they may have been integral in helping to develop your business model, products, intellectual property, and more. The key to a successful business partnership is much like that of any relationship: communication is key, along with a clear outline of what is expected of everyone.

Speak to your business attorney as soon as possible about having partnership contracts drawn up, defining titles, delegated duties, and information regarding profits and how and when they are to be dispensed. Even more important though is the exit strategy. And although this might seem like a negative thing to be considering from the beginning, the reality is that many partners do go in different directions over time, and it is better to have a plan while everyone is on good terms. This gives stability for the future too, as everyone knows what the plan is should one partner or another wish to depart or sell their shares.

The exit strategy for partners should include establishing the value of the business and then giving one or more partners the right to buy out their shares if that was the agreed upon plan; otherwise, they may want to leave their shares to family members or sell them to individuals from outside the company—a move which could lead to surprising complexities for existing partners who may later wish they had taken the chance to buy out the exiting partner.

Another important quotient in the business partnership contract is a dispute resolution clause. Again, deciding on such details before anyone is angry or suing can lead to a much better outcome later should a dispute arise. Dispute resolution clauses can be extremely detailed, outlining what type of method would be used, whether litigation, arbitration, or mediation. They may also be used to indicate where the resolution would take place, and who would be responsible for paying any attorneys’ fees, should that be an issue.

Do you need legal assistance with 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!

copyrights

Copyrights, Trademarks, Patents: Understand the Differences & What You Need

Posted by Jeffrey Bolender on with 0 Comment

As a company owner, you may have accrued numerous assets after years in business. You may own real estate—to include your business site—company vehicles, a large amount of office property and inventory, and other investments that relate to your industry. What about intellectual property though? You, your business partners, and independent contractors working for you either temporarily or long-term may be busy creating items that are truly some of your most valuable assets, and they must be protected.

As you begin producing different types of work, innovations, and perhaps even major inventions, you may be confused about what security measures you need to take, and how to do so; however, with the expert legal assistance of a firm like Bolender Law Firm, you will have a better understanding of your options regarding materials, negotiating licenses, preparing applications for registration, and more.

The terms copyright and trademark are sometimes used interchangeably, but they actually denote very different types of intellectual property law, along with patents. We’ve included brief information regarding each, so you can think about what may apply to your needs, and what type of protection your intellectual property requires:

  • Copyrights – whether you are applying for your own or asking permission to use a copyright assigned to another entity, this grants exclusive rights to the creator of an expression of art, whether that may be a book or a screenplay, software, music, or more. Copyrights are covered for a period of 95 years if they were published after 1922, but before 1987. If they were developed but not actually published before 1978, the work is covered for the lifetime of the creator, and an additional 70 years after that.
  • Trademarks – this type of intellectual property protection becomes critical when you are creating a brand. By registering a trademark (such as a logo), you allow your company and its products to be distinguished from that of the competition; likewise, the service mark denotes the services you offer.
  • Patents – this license is reserved to grant exclusive rights for inventions—usually for about 20 years from the time of application. During that timeframe, others may not manufacture the invention for their own purposes, use it, or sell it.

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!