Best Business Practices

February 19, 2015

Using a Term Sheet – Following Best Business Practices Starting a new business deal can take a lot out of you. Unless the unheard of happens and both parties are on the same page to begin with, there are many different factors that come into play. Both parties need to make concessions and negotiations can drag on for weeks, months, or even years. Before you consult with a business attorney to draw up a legal contract, it is important that both parties can agree on the terms. This ensures that you don’t spend more than you need to on...

Promissory Notes

February 13, 2015

Promissory Note: Is It Right For Your Business? Setting up a business takes a lot of careful planning, but more importantly it takes just the right amount of funding. When going through the initial steps of establishing a new business, sorting through the different loan options and funding opportunities can be extremely confusing. Among those options, you may have heard of companies offering promissory notes as a way to put off large bills. So, what exactly is a promissory note? What is a Promissory Note? Put most simply, a promissory note is a financial instrument where the issuer promises...

Getting a Loan

February 05, 2015

Secured vs Unsecured: Getting the Right Loan Funding a business is oftentimes the most difficult part of getting started on your own. Though everyone dreams of the angel investor, the reality is that many people simply do not have access to this type of contribution. Instead, the best approach for most new businesses is to look at securing the best business loans to ensure they can get started. What is a Secured Loan? A secured loan is a type of loan you can receive by putting up some of your assets as collateral. This could include a car that you...

Non Compete Agreement

January 28, 2015

Is a Non-Compete Agreement Enough? With such a competitive business atmosphere today, many employers are finding it more difficult to protect all of their systems. A non-compete agreement was designed to ensure that all of your information and systems remained confidential while ensuring that your employees could not simply leave and take a chunk of your business with them. The question is, when more sensitive matters are concerned, is a non-compete enough? What Are Your Options? Most often, a non-compete agreement is used by a business to ensure that you can protect a trade secret from being revealed. Keeping something...

Way to Protect Your Business

January 22, 2015

Copyright, Trademark, or Patent: Which is it? There are a variety of legal ways to protect your business from competition, but sometimes sorting through those options can seem like a difficult task. One item might require a copyright, another a trademark, and still another a patent. Whether it’s a new design, creative process, system, or any other variety of creation, it is important that you properly protected yourself. Before looking at getting a business trademark, copyright, or patent, it is important to understand which one actually applies to each type of creation. Copyright the Creation Copyrights are necessary more often...

Understanding Copyrights

January 16, 2015

Understanding When You Need to Copyright Protecting your creative works can sometimes seem like a difficult task. With all of the different legal methods and strategies in place, the average business owner can’t make heads or tails of what type of protection to get on which product. There are trademarks, patents, trade secrets, copyrights, and all manner of other terms that are thrown around, but knowing which applies to what type of process can make your head spin. When it comes to getting a copyright, the first step is knowing what it protects. Having the Unique Features The eight separate...

Trade or Patent

January 09, 2015

How Should You Protect Yourself: Trade Secrets or Patents? There are a variety of ways to protect your secrets and inventions, but it helps to understand the difference in how they work. Two of the most popular ways to keep a method or invention safe are trade secrets and patents. Though a trade secret can be kept for an indefinite period of time, it offers limited protection on inventions that might be duplicated legally. On the other hand, a patent offers much more comprehensive protection, but it can only be used for specific inventions. Before consulting a Boston business...

Protect Your Invention

January 07, 2015

Do Trade Secrets Really Protect Your Inventions? If your business involves any sort of invention, proprietary software, or unique production method that gives you an advantage over the competition, it is important that you understand how to protect it. Depending on your industry and market, such trade secrets could be your company's bread and butter; without them, you may find yourself struggling to keep your head above water. It is therefore imperative that you are aware of the legal protections available to keep this information from being revealed. The Weaknesses of Trade Secrets The main concern regarding trade secrets is...

Protecting Trade Secrets

January 07, 2015

How Do You Properly Protect Trade Secrets? When you decided to start your own company, you took on all of the challenges and risks associated with business ownership. Most industries are competitive, especially those involving trade secrets. Once you understand what qualifies as trade secrets, you can then decide how to protect them from your competition. What Constitutes a Trade Secret? Though many do not realize it, trade secrets are defined by law, in the Uniform Trade Secrets Act. In layman’s terms, a trade secret is any information, formula, program, device or technique that offers a unique economic advantage to...

Patent Filing

December 18, 2014

Understanding the Importance of Patent Filing There are few things more rewarding to an individual than to create something completely new and unique. New inventions are the perfect representation of progress and when you complete an invention it is natural to get excited and want to get it on the market as quickly as possible. However, if you fail to get a patent beforehand, you may find that your exuberance to show the world your accomplishment can lead to disappointment when your invention is hijacked. Protect Your Inventions As an inventor, it is important that you keep your new...