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Buy-Sell Agreement

Top Reasons Why Your Company Needs a Buy-Sell Agreement

Buy-Sell AgreementAs any business owner knows, disputes within a partnership or even a bigger business can be a significant roadblock to success. In fact, these can even distract company owners and managers from being able to accomplish business goals and achieve targets on time.

These can also represent significant costs in terms of additional time and frustration as well as distraction dealt with coping with the issues. This is one of the primary reasons that you should consider a buy sell agreement.

Even though you and your partner might be on the same page now, this is no guarantee that you will both be able to agree about things well into the future. There may come a time when someone needs to depart the business, for example, and having a buy sell agreement clearly outlined can help to allow for changes.

The best way to adapt to change and have a clear outline for what happens if someone needs to or wants to depart the business can be extremely beneficial. The agreement may also outline the procedures that you wish to use in order to resolve disagreements with the majority of owners. Here are several of the most common reasons you should consider a buy sell agreement.

If You Intend to Leave the Business and Want to Release Your Stock in the Company, You Are Protected

A buy sell agreement would outline the method by which the fair business price could be determined. You can eradicate potential disputes and lawsuits by agreeing on what is fair well in advance.

This can be extremely beneficial if you are the individual departing the company. Make sure the valuation method is clearly explained and discuss it with your experienced Florida business law attorney.

You Should Always Have the Ability to Choose Your Partners

When you choose to go into business with partners, this is something you have probably thought extensively about and probably done your research. It will be unfortunate to have all of this research and diligence go to waste, however, there are multiple reasons that someone may decide to leave the business.

They might be forced to sell due to bankruptcy, they may pass away or become disabled, or they may decide to sell or get divorced and have a spouse owning some or all of the shares.

You may find new partners involved in the business that you never intended to have in the first place and having a clear buy sell agreement can help to eliminate this situation as well as disputes and conflicts that may emerge as a result of it.

Stop Minority Shareholders from Vetoing a Business Sale

In the event that you intend to move forward with a business sale, a drag along clause inside your buy sell agreement can require the entire business to be sold if a majority of owners are able to come together and agree on this.

Protect Minority Shareholders from Being Cheated Out of Sale Proceeds

If a buy sell agreement has a tag along clause, then when the business is sold, minority owners could be entitled to the same per share price as majority owners. This stops any majority shareholders form conspiring with a business buyer and extracting control from the buyer, causing damage for others.

Protect Your Family

One of the biggest reasons that you may choose to enact a buy sell agreement for your business is to protect your own family members in the event that you were to become disabled or to pass away. If this were to happen to you, you would be ineligible to negotiate on your family’s behalf.

Your family may be in the position of receiving your interests in the company. If this is the case, you want your family to be paid fair value for your interest in the company. Surviving owners in the business may be hesitant about a fair payment for your stake and are likely to engage in low- ball negotiation with your family members. Having a buy sell agreement, however, protects the ones you love the most and ensures that you have careful plans for the future.

Consult with An Expert Florida Business Law Lawyer Today

Any venture that is owned by multiple parties can benefit from a buy sell agreement. You should only put together a buy sell agreement after having the opportunity to work with a Florida business law attorney.

You can help to avoid numerous conflicts and get on the same page with your current business owners now so as to protect yourself in the short term and the long term. Consult with an experienced Florida business law attorney if you have further questions.

Did you know contract disputes are some of the most common issues in businesses? http://astonishing-purpose.flywheelsites.com/the-most-common-contract-disputes-likely-to-lead-to-business-litigation/

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Data Theft

Is Your Business Vulnerable to Data Theft?

Data TheftOver the past couple of years, huge companies like Target, Sony Pictures, and Home Depot have made the news after suffering massive cyberattacks that compromised customers’ private information and cost millions in recovery expenses.

Experts warn these types of attacks aren’t limited to big companies with deep pockets. Now, small businesses are just as vulnerable to data breaches as large multinational corporations.

To learn more about safeguarding your business against cyber threats, speak to a Boynton Beach business lawyer.

Why Cyber Thieves Target Small Businesses

Even just a few years ago, small business owners rarely had to worry about cyberattacks. For the average small business, being a small fish in a big sea was a good thing in the context of cyber threats.

Security experts say this has changed. Small businesses may not have the financial resources of large corporations, but their computer systems usually lack the sophisticated encryption software and online security of big companies. This makes small companies easy pickings for cyber thieves.

Also, a growing number of small companies rely on cloud storage for their data. Without adequate data protection in place, hackers can snatch sensitive and valuable information without much effort.

Startling Facts about Cyberattacks

Many small business owners are unaware of just how serious the problem of data theft has become. The statistics behind this growing threat shine a spotlight on the magnitude of the risks small businesses face.

  • According to one cyber security company, cyberattacks on small businesses skyrocketed by 300 percent between 2011 and 2012
  • In 2015, nearly half of all cyberattacks worldwide were carried out against businesses with less than 250 employees
  • In a two-year period, one in five small- to mid-size businesses reported being the victim of a cyberattack
  • On average, cyber thieves steal $32,000 from small business accounts
  • The Department of Justice’s Internet Crime Complaint Center received over 269,000 cyber-crime complaints in 2014, which is an increase of 1,500 percent from the year 2000

What Do Cyber Criminals Steal?

Computer security experts say hackers harvest data for a variety of reasons. Armed with the right information, cyber criminals can withdraw money via wire transfers, open fake accounts, file fraudulent tax returns, steal intellectual property, and commit identity theft.

In a 2014 security breach involving Staples office supply stores, hackers stole the credit card information of 1.16 million customers. In the 2013 Target cyberattack, hackers used malware to siphon the credit card information of over 40 million customers.

In some cases, cyber thieves also use smaller businesses as a gateway to larger companies.

What Small Businesses Can Do to Guard Against Cyberattacks

Fortunately, there are several steps small business owners can take to lower their risk of a data breach. Experts recommend using some type of cyber protection, such as a cloud-based security app.

Small companies can also protect themselves by educating their employees about cyber security. Many hackers get access to computer networks by way of malware hidden in spam emails.

Companies can protect themselves by instructing their workers to be cautious when opening emails. Employees should also choose strong passwords and change them often. Experts say even small steps can make a big difference.

Also Read : 6 Reasons You Should Hire a Business Litigation Lawyer

Are You Ready to Protect Your Business?

Whether you are a small startup just getting off the ground or you own a growing business with multiple employees, you need an experienced business lawyer on your side.

Too many businesses wait for disaster to strike to call a business lawyer. Protect your business now by scheduling a meeting with a Boynton Beach business lawyer.

feamanlaw-contact for free consultation about your case

Business Litigation

The Most Common Contract Disputes Likely to Lead to Business Litigation

Business LitigationUnfortunately, far too many business owners don’t realize the importance of a proper contract until it’s too late. The reality is that the more time and effort you put into structuring your contracts now, the less likely you are to wind up in business litigation later on.

Even though the majority of business relationships involving contracts do start off on the right foot, you cannot always count on this. It can be frustrating to realize that the other party has breached his or her duty with regard to the contract, but even more devastating to realize that you are unable to resolve this issue on your own.

Read on to learn more about the most common contract disputes that will likely end up in business litigation, and how a business litigation attorney may be needed to resolve an ongoing conflict.

Not Having a Contract at All

The biggest mistake you can make is assuming that the other party will act in good faith without a written contract. While this is certainly a possibility, it’s not one you should bank on. A written contract helps to clarify all issues about your relationship with this other party, and it’s not something you should ignore.

Make sure you carefully consider all the implications of working together as well as how you’ll resolve disputes if they arise.

Not Defining a Breach

You need to be able to act quickly if the other party breaches a contract, but this can be much more challenging if you have not clearly outlined what constitutes a breach.

In order to do this, think about the circumstances in which you’d want to end the business relationship. For example, if the other party does not pay, if the delivery is late, or if the quality of work or delivery is low, then you may want to consider terminating the relationship.

Having these terms explained in the written contract helps you to move forward and either encourage the other party to rectify the situation or form the basis of your claim for damages.

Not Thinking About Resolution Options

Business litigation is not your only option for resolving a dispute should one occur, but it might be the best venue for resolving an ongoing conflict. Some individuals prefer to put other terms in contract mandating arbitration or mediation.

One of the challenges with mediation, however, is that most business owners have already attempted to resolve things on their own before meeting with a business litigation attorney.

For example, if you’re unable to contact or connect with the other party in the contract, then it can be difficult and frustrating to try and determine the next steps. If you originally intended to work things out in mediation, then this can quickly turn into a dead end if the other party refuses to budge or simply does not respond. This is why you may want to include a clause in the contract about the point at which you would pursue legal action.

Failing to Consider Intellectual Property

Intellectual property is just as important of a business asset than property and equipment. However, even in today’s day and age, many businesses—particularly startups—fail to consider the importance of intellectual property.

What seems like a small mistake at the time the contract is created can be meaningful repercussions down the road, which is why your Florida business litigation attorney should carefully review all contracts before you sign anything.

Even if you suspect that you don’t currently have an intellectual property issue, you should have a contract that memorializes the assignment of intellectual property to the company. This is especially true for startups, and every person involved with the company should sign this document. It’s essential that the company own work created by those working for the business.

Not Calling a Business Litigation Attorney

Not calling a business litigation attorney after you realize your contract has been breached or if you are in amidst a business dispute that is quickly heading for litigation, then this can be one of the biggest mistakes you make.

Consulting with a Florida business litigation attorney is easy, and it can be a huge move in a positive direction to help you to figure out your next steps all while protecting your business along the way.

feamanlaw-contact for free consultation

Partnership Dispute

What to Do If You Are in a Partnership Dispute

Partnership DisputeAlthough it might have been an exciting and agreeable time when you decided to work with a partner to establish a business or another kind of venture, this partnership or relationship can deteriorate over time and evolve into a serious partnership dispute.

A partnership dispute happens when two individuals in business together elect to dissolve their partnership as a result of differing opinions or goals. Partnership disputes can drive a wedge between you and your business partner, not to mention generate a lot of confusion and costly expenses associated with dissolving the relationship.

Read on to learn about some of the different situations that can prompt a partnership dispute.

Common Partnership Disputes

Partnership disputes can be instigated by a number of factors, which can include:

  • Decreasing revenue
  • Differences in business or management style and practices
  • Differing opinions over the business direction
  • Arguments over profits
  • Insufficient partnership agreements
  • Complications with shareholder agreements

Regardless of the cause of the conflict between you and your business partner, the results can be catastrophic for your company. Spending time engaged in attempting to resolve the issue on your own, for example, can detract from profits and make it difficult for other employees in the office.

Advanced partnership disputes can be especially problematic for your business. Some examples of advanced partnership disputes can include:

  • Trade secrets
  • Embezzlement
  • Breach of fiduciary duties
  • Business disparagement
  • Dissolution

In the event that you have tried to work things out with your business partner but have been unsuccessful in doing so, it may be time to speak with a business litigation attorney

Check out this site here to read more about common partnership disputes.

Why Working with a Business Litigation Attorney Can Help

A partnership dispute can make your life extremely difficult. Litigation is not the only option for resolving your partnership dispute. In fact, showing your business partner that you are serious by taking legal action may even motivate him or her to resolve things in negotiation settlements outside of court.

Consulting with a business litigation attorney now gives you an overview of all of your options as well as some idea of what to expect.

When you realize that an eroding business partnership is no longer in the best interests of the company, and you’ve unsuccessfully attempted to resolve things on your own for some time, then it may be time to speak with a trustworthy business litigation attorney who can help you take legal action to resolve the issues as effectively as possible.

Florida partnerships and businesses have their own set of rules and guidelines to follow concerning partnership disputes.

Also Read : 5 Reasons Why You Need a Business Litigation Attorney

When You’ve Reached the Beginning of the End, it’s Time to Find Legal Help from a Business Litigation Attorney…

Just like couples don’t necessarily want to get a divorce, most business partners don’t want to think about severing a relationship. However, sometimes this is a necessary step to protect the reputation, integrity, and the future of your business.

It can be frustrating to deal with a partnership dispute like this, particularly if you and your partner were close for years before the dispute, but it’s in your best interests to act quickly to prevent damage to the company or venture as a whole.

Visit here to learn more about working with a business litigation attorney.

feamanlaw-contact for free consultation about your case

Business Law

How Does Business Law Apply to E-Commerce?

Business Law
E-Commerce refers to Internet-based businesses, which buy and sell products or provide services electronically.

For example, e-Commerce involves a combination of the following:

  • Mobile commerce
  • Electronic funds transfers
  • Internet technology
  • Electronic data interchange
  • Escrow services
  • Inventory management systems
  • Data collection systems

The majority of e-commerce transactions involve the Internet in at least one stage of the process.

With a great deal of business being conducted online today, there have been a number of legal concerns as a result.

Learn more about e-Commerce laws with a business law attorney.

What’s the Connection Between e-Commerce and Business Law?

There are many different aspects of e-Commerce law that do relate to running a business. It is imperative to understand how and what you are required to comply with if you are an online business owner.

Not all of the requirements are necessarily intuitive. While online businesses are relatively easy to set up and manage, there are also a number of business laws that are often overlooked…

Due to the low barriers of entry with an online business, it’s all too easy to make mistakes that could cost you in terms of legal battles down the line. The good news is that partnering with an experienced business lawyer can help you avoid these challenges and will assist you with developing a long-term plan to address your concerns.

Check out the Small Business Association (SBA) site here to learn more about online business laws.

Protecting Customer Privacy

One of the most important aspects of opening an e-Commerce entity or any kind of online business is various privacy laws.

The majority of businesses collect and keep sensitive personal information associated with their employees and their customers, which can include names, mailing addresses, email addresses, social security numbers, and credit card numbers.

While protecting this information is a good business practice, it can also help you avoid legal challenges down the road. You may be subject to state and federal privacy laws. Consulting with a knowledgeable business law attorney can help you avoid snafus and ensure that you have protected yourself in this delicate situations.

Digital Rights, Copyright, and Intellectual Property

You need to know that personal data is not the only thing protected on the web. Digital works like movies, art, music and text are also protected under the digital millennium copyright act.

Make sure that you do not use any items that are licensed to someone else’s copyright or trademark. Even if you use another’s copyright or trademark unintentionally can end up in a serious legal dispute.

Violating a copyright can lead to long legal battles and a lot of frustration and expense, so it’s better to avoid it wherever possible by being aware of your responsibilities.

Remember, just because you find something online doesn’t mean it’s free! them as effectively as possible.

Online Marketing and Advertising

The anonymous nature of the Internet has led to a number of unfortunate and questionable marketing and advertising practices like unsolicited email spam or even “buying” email addresses.

Over the past ten years, state and federal governments have focused on passing advertising laws that protect consumer rights and ensure truthful and fair advertising practices online.

Check out this site here to read more about business laws surrounding the digital marketplace.

Speak with an Experienced Business Law Attorney Before Going Online

It can be an exciting time to start an e-Commerce business, but you need to understand your rights and responsibilities beforehand to avoid legal problems.

This is why It’s a good idea to consult with your business law attorney to make sure that everything you put on the Internet complies with these regulations and generally meets the standards of what is considered fair and reasonable.

Visit here to get started with a business law attorney for your online business.

feamanlaw-contact for free consultation about your case

Business law attorney

How to Prepare for Your Meeting with a Business Law Attorney

You’ve got a big meeting coming up. Not with a potential client or a vendor, but a business lawyer. This new lawyer is going to help you iron out some of the basics to running your new enterprise.

Business law attorneyWhile this individual is making himself available to meet with you, you still want to know what you should bring or what you can do to prepare for your meeting.

If you choose not to show up to your initial meeting with your business attorney, then you will likely waste your attorney’s time, and your own time, which neither of you can afford to do…

In order to show up prepared, here are some things you can do to prepare for your initial meeting with a business lawyer:

1. Prepare paperwork – Upon scheduling your initial meeting, the firm’s office staff might have provided you with a questionnaire or other intake forms. Be sure to fill these out to the fullest extent possible.

Having these completed beforehand will save you from having to sit in the office, scribbling to complete them right before your appointed meeting time.

2. Prepare an explanation – Be prepared to get into detail about your personal or professional situation. If you are involved in a business dispute and are looking for some help, then be prepared to tell your story, and explain why you believe you need legal help.

3. Do your homework – Just like you would prepare for a big exam, you should also do some homework or research on your situation or on the attorney you are about to meet before coming in for your initial meeting.

Knowing a little bit about who and what you are dealing with can help you to know what to expect.

4. List organizations and/or associations – Be sure to give your new attorney a list of organizations, institutions or associations your business is affiliated with.

For example, be sure to include all banks or other businesses you are affiliated or associated with or even conduct business with. If the attorney recognizes a conflict of interest in any of these areas, then he should tell you upfront.

5. Come with questions – Remember, your initial meeting isn’t solely about letting your attorney ask you a ton of questions; it’s also a great opportunity for you to ask your questions. In fact, you are there for legal guidance and advice, so show up to your meeting with a list of questions prepared in advance.

Visit this site here to read more about what you can do to prepare to meet with a business attorney.

What You Can Expect from Working with a Business Law Attorney


Meeting a business law attorney for the first time might be a little unnerving—especially if you have never worked with an attorney before. Taking the time to be prepared before your meeting will help alleviate some of your concerns and nerves.

It will also show your attorney that you are prepared, organized, and take your situation and your business sincerely and seriously.

Working with an experienced business law attorney who is knowledgeable Florida business law can help you with business litigation, contract litigation, fraud, and other types of business law questions.

feamanlaw-contact for free consultation about your case

Florida Contract Litigation Attorney

5 FAQs about Franchise Laws in Florida

Florida Contract Litigation AttorneyIf you are thinking about purchasing a franchise in the state of Florida, then you likely have a number of questions about making this type of business decision before you decide to move forward with this type of agreement.

Read on for some answers to the top five FAQs about franchise laws in Florida. You can also check out this site here.

1. What is Franchising?

Simply put, franchising allows a business owner to expand a business by allowing independent franchisees to use the logo, method of operation, and business name to sell a particular service or product.

In return for this potential, the franchisee is responsible for paying the franchisor a franchise fee as well as ongoing royalty payments.

There are typically three different types of franchise businesses in Florida:

  • Business format franchises – The business operates under the trade name of the franchisor and is typically required to follow the operating procedures of that franchisor.
  • Manufacturing franchises – The essential ingredients or basic information about making a product are provided to the franchisee.
  • Distributorships – A franchisor gives license to another person to exclusively sell the franchisor’s product.

2. What Is a Franchise Disclosure Document?

This is a legal document that franchisors need to provide to franchisees that are considering becoming involved with the business. This is required under federal trade commission rules.

You should always see a document like this before you begin a relationship with a franchisor, as this is part of the company’s responsibility Be sure to evaluate the contents of this document carefully with a Florida Contract Litigation Attorney.

Any prospective franchisees must be provided these details at the first meeting with the franchisor. This gives the franchisees the opportunity to learn more about the investment and to make an educated decision about the franchisor before purchasing.

This includes a listing of all recently departed and current franchisees and more details about operating the franchise.

A franchise disclosure document also provides the following details:

  • Litigation history for the company
  • Operating expenses
  • Initial investment
  • Advertising
  • Termination policies

3. What Kinds of Businesses May Be Franchised?

Although fast food restaurants are some of the most common examples of franchises today, practically any kind of business can be franchised. A franchise business might sell services or products at wholesale or retail, from home or from a storefront.

There are several different kinds of popular franchise businesses including:

  • Printing services
  • Hotels
  • Pharmaceutical companies
  • Bakeries
  • Cleaning businesses
  • Construction firms
  • Fitness centers
  • Furnishing outlets and restaurants

4. What Are the Most Common Kinds of Agreements Involved with Franchising?

Outside of the franchise disclosure document, all franchisees need to sign a franchise agreement describing their general relationship between the franchisee and franchisor.

There may be additional documents required such as:

  • Software licensing
  • Technology
  • Collateral issues
  • Powers of attorney
  • Non-competition agreements

There may also be personal guarantees for the owners of the franchise entity as it relates to performance of the franchise. Furthermore, a franchisee may also be engaged in contracts with third party vendors like landlords.

5. Who Regulates Franchising?

In the United States, franchising falls under the umbrella of the U.S. Federal Trade Commission as well as state agencies. The franchise rules from the FTC applies throughout the United States, but a state’s franchise laws may also be in play if the sale or offer of franchise is made in the state.

Ask a Florida Contract Litigation Attorney

Getting involved in a franchise is a big decision, and one that needs to be considered carefully. Read this article here to learn more about what you should consider before getting involved in a franchise.

If you have more questions about starting a franchise, then do yourself a favor and speak with a Florida Contract Litigation Attorney today.

Having an attorney’s insight at the outset of your relationship as a franchisee can be very beneficial, and can help you review all areas of your contract, and even determine how to avoid contract or business fraud.

Visit here to get started with a Florida Contract Litigation Attorney today.

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West Palm Beach business litigation attorney

The Top 5 Legal Mistakes that Cost Startup Businesses Thousands

Although there has never been a bigger buzz about startup companies than there is today, it is very important to retain a West Palm Beach business litigation attorney to help avoid some of the common legal pitfalls influencing companies.

West Palm Beach business litigation attorneyAll too often, founders of companies are excited to get the ball rolling and launch their new business that this often means they—inadvertently—compromise the potential success of the business. What seems like a small oversight now can turn out to be a big stumbling block down the road…

It’s much easier to have all your ducks in a row when you start the company as opposed to dealing with legal disputes several years later. Even if you’re somewhat knowledgeable about starting a company, having the oversight of an experienced West Palm Beach business litigation attorney can make sure you don’t miss any of the small details. Read more about the common legal mishaps businesses find themselves in here.

Read on to learn more about these five big mistakes and how you can avoid them:

1. Not Acknowledging Corporate Mortality – Although no one wants to plan for the failure of their business, the reality is that a lot of startup companies don’t make it. In fact, depending on the type of business you run and the industry you work in, most startup businesses fail within the first five years.

If you find yourself heading for membership in a group like this, then you need to have mechanisms in place that will allow the owners of the company to dissolve the business.

The founders might vote to go in different directions and you want to have a tool in place to address this. It is always a good idea to plan for the worst and hope that you don’t have to address this issue. Having the safety net there can be very helpful.

2. Improperly Protecting Intellectual Property – One of the most important steps you’ll take as a business owner is to protect your company’s intellectual property. You can do this by patenting, trademarking or copyrighting your work—including the work on your website.

You also want to make sure that all work created by contractors and employees is done on work-for-hire basis, meaning that the company retains the results.

3. Mixing Funds – If you elect to put together a formal corporate structure, then you need to abide by all formalities. You should never co-mingle business assets with your own. This can open you up to claims that your business is a fictitious entity.

You could be individually targeted if you were sued. One way to avoid this is by setting up different bank accounts for your business assets and capital.

4. Inadequate Due Diligence – You need to ensure that the name of your company has not already been taken. This could lead to disputes about ownership of the name and litigation issues.

At this point, if you have already selected a company name, you or the company could be liable if someone else already owns the rights to use it. A little prevention by working with a West Palm Beach business litigation attorney can go a long way.

5. Selecting the Wrong Entity – There are many different types of corporate structures such as partnerships or proprietorships, C corporations, and limited liability corporations (LLCs). Each has its own advantages and disadvantages.

Selecting the right one from the outset can help you avoid challenges down the road and can make it clear about the responsibilities that each member plays in the business.

Skyrocket to Success with a West Palm Beach Business Litigation Attorney

Choosing the right entity from the beginning eliminates the potential for numerous problems. It is a good idea to select the proper entity after a meeting with a West Palm Beach business litigation attorney.

Working with an attorney from day one allows you to avoid common pitfalls and legal problems. You can also learn more about the biggest legal mistakes made by startup companies here.

Having a West Palm Beach business litigation attorney to help you when you are ready to launch the company goes a long way toward minimizing future problems and ensures that you have the documents you need already on hand and ready to go.

Visit here to get started with a West Palm Beach business litigation attorney today.

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West Palm Beach business attorney

Use It or Lose It: 4 Examples of Losing a Trademark

West Palm Beach business attorney

The symbol of copyright

For many companies, trademarks are a significant asset. Trademarks allow companies to build brand reputation in a competitive marketplace. Although most companies go to great lengths to protect their trademarks, certain missteps can jeopardize a trademark and even cause a company to lose one.

As a business owner, you know it is critical to protect your trademarks. It is also important to understand exactly how a business can lose a trademark.

Read on to learn several of the most common ways to lose a trademark.

1. Abandonment – Abandoning a trademark is one of the most common ways to lose it. Although temporary non-use may be defensible in some situations, discontinued use with no intent to take up use again is typically considered abandonment.

For example, some companies introduce products on a seasonal or limited time basis to increase demand. This is most likely acceptable temporary non-use. On the other hand, a company that abandons a trademark due to poor performance or lack of demand jeopardizes its right to the mark.

2. Misuse – Companies with a trademark must be careful to correct misuse when they see it. Trademark owners should also ensure they don’t misuse their own marks.

Examples of misuse include making a singular word possessive and using a trademark-protected product or service as a noun.

In today’s world of social media, rapidly evolving buzzwords, and fan-sponsored events, trademark misuse among consumers and licensees is fortunately easier for companies to monitor.

3. Lack of Quality Control – Businesses frequently allow third parties to use their trademarks by entering into licensing agreements. To protect their marks, companies must be diligent about enforcing quality control when it comes to third parties using their marks. So-called “naked licensing” occurs when a trademark owner fails to exercise sufficient quality control over licensees, whether through regular inspections or supervision. Failing to do so can jeopardize a company’s right to the mark. If you enter into a licensing agreement, it is very important to define clear parameters for quality control.

4. Genericization – Sometimes, a product is so successful, it eventually becomes a noun—replacing the original word for an entire product or service.

Anyone who has ever packed their lunch in a thermos insulated food and beverage container, ridden in an escalator, or taken an aspirin for a headache has encountered a product that was previously trademarked in the United States.

Other examples of genericized trademarks include zipper and cellophane. As products become popular, they tend to become household names. Eventually, they evolve in nouns or verbs. At this point, a product becomes synonymous with an entire category of products.

Other companies, such as BOTOX®, Kleenex®, and XEROX® have waged long battles to keep from losing their trademarks. Although some argue that too much popularity is a good problem to have, genericization remains one of the most common ways to lose a trademark.

Protect Your Trademarks with a West Palm Beach Business Attorney

Running a business demands time, money, and energy. When you are busy building your brand, your customer base, and your reputation, you don’t have a lot of time to devote to other areas, such as ensuring your trademarks are safe.

Fortunately, working with a West Palm Beach business attorney can help you manage all aspects of your business – leaving you free to keep doing what you love. Your lawyer can also help you defend against business-related litigation that threatens your bottom line.

Visit here to get started with a West Palm Beach business attorney today to learn more about your options.

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West Palm Beach business attorney

5 Simple Steps to Business Dissolution

Whether you are ready to retire, eager to move on to another venture, or just looking to wrap up your business for economic reasons, dissolving a business requires thorough planning, which most business owners don’t realize.

West Palm Beach business attorney

Business dissolution

When it is time to end your business, the dissolution process is not as easy as simply turning off the lights and locking up for the last time. There are several things you need to do and many steps to take to ensure you wrap up the right way.

Read more about the dissolution process with a West Palm Beach business attorney here.

More Paperwork…

As a business owner, you most likely had to file specific paperwork when you started your business. You might have filed Articles of Incorporation, an Operating Agreement, as well as various tax documents.

When it is time to dissolve your business, this step involves filing paperwork, too. This gives official notice to the state and other agencies that you intend to stop operating as a business. It is especially critical to go through all the proper procedures to ensure your business is not taxed after you cease operating.

Depending on your business and your locale, you may need to pay a fee when you file this notice. In most cases, the fee is negligible.

Check out this site here to read more about the paperwork involved in the dissolution process.

Who Should You Tell?

In addition to alerting the state, you also need to let other shareholders know that you are dissolving your business.

Here is a list of who you should tell when it’s time to shut your doors:

Employees – First and foremost, you should tell your employees. It is also important to notify any employees that you intend to stop operating. You should give your employees adequate notice of the dissolution, however, you may understandably want to delay telling your employees about your intentions so that business operations are not unduly disrupted.

This is an area where a West Palm Beach business attorney can help. Your business lawyer is an invaluable source of information and guidance, and can help you work out a strategy that allows your business to keep operating as usual while you prepare to wind down. Your lawyer can also help you assess any employment-related tax liability, such as payroll tax.

Creditors –  As you wind down your business, you must let any creditors know you intend to cease operation. If you have significant debts, you may need to consider bankruptcy or some other type of arrangement to make sure your debts are paid before you close your doors.

In many cases, it is possible to negotiate reasonable payments on debts. Creditors typically want to be paid without having to go through potentially costly and time-consuming litigation.

What you absolutely should not do, however, is simply walk away from your business without notifying your creditors or making arrangements to deal with your debts. Ignoring debts will not make them go away; in most cases, ignoring your debt will actually make things worse.

Customers – If you have existing customers, do not simply shut your doors in the middle of the night without any sort of warning. It is best to give your customers notice that you intend to close. This gives you – and them – an opportunity to fulfill any pending orders, complete projects, and take care of any contractual obligations.

Not to mention, it’s a good idea to thank them for their business and patronage for the years you’ve been in service. Don’t burn your bridges.

Learn more here about what you should do when it’s time to dissolve your business.

Do Things the Right Way with a West Palm Beach Business Attorney By Your Side

Dissolving a business does not have to be a negative process. Depending on your circumstances, it may even be a welcome event. Perhaps you want to put a stop to the daily grind as you prepare to retire. Alternatively, maybe you have an idea for another type of business that promises to be more successful.

Whatever your reason for moving on, dissolving your business the right way is an important first step toward getting started on your next adventure. An experienced West Palm Beach business attorney  can help you create and execute a smooth strategy for dissolving your business.

Visit here to get started with a West Palm Beach business attorney today.


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