The details of a partnership agreement
Tempe Arizona Business Law Blog
by bkabritsor
2y ago
When you run a business, you may find that complicated issues are always coming down on you. You are responsible for all of your staff’s decisions, not to mention external factors such as market fluctuations and government regulations. You can alleviate some of this pressure by finding partners who can share the responsibility. You and your partners should be able to resolve disputes more efficiently and then be able to move on. However, before you reap the benefits, it helps to understand what a partnership agreement entails. Obligations One of the most important aspects of a business partner ..read more
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How can businesses safeguard their trade secrets?
Tempe Arizona Business Law Blog
by bkabritsor
2y ago
You want to keep what makes your business unique a secret, whether this is a prized recipe, a proprietary method of production or a type of technology. Protecting this trade secret is likely vital to the ongoing success of your operation. The United States Patent and Trademark Office defines a trade secret as information that has potential independent economic value, as well as information that has values to others who cannot obtain it. There are several practical steps your business can take to protect your trade secret and secure this information. Secure technology If any of your business’ c ..read more
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Patents and vaccines: The pros and cons
Tempe Arizona Business Law Blog
by dana.patel@thomsonreuters.com
2y ago
The COVID-19 pandemic led to a race between pharmaceutical giants. Scientists and researchers worked long and hard to develop a vaccine that would be safe and effective. Those who develop these medical advancements often seek to protect their innovations with the use of patents and often make money off of manufacturers who buy patent rights. Although a common practice, the public and lawmakers have started to scrutinize the use of patent protections to use medical advances for financial gain. This scrutiny is currently getting the attention of politicians and scientist throughout the world as ..read more
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3 tips to avoid a dispute over a large estate
Tempe Arizona Business Law Blog
by bkabritsor
2y ago
When a beloved family member dies, dividing up his or her estate, especially if it is large, can be challenging for those involved. Emotions tend to be high, and hurt feelings may result. In Arizona, many people put most of their assets into trusts. This and an estate plan allows them to determine who will receive what after they die. If you find yourself involved in a trick situation regarding the division of a large estate, these tips may help ease tension and avoid disputes. 1. Make sure a will is in place Before the owner of a large estate dies, he or she should have a legal will in place ..read more
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3 estate planning options for when a loved one has dementia
Tempe Arizona Business Law Blog
by bkabritsor
2y ago
A large portion of the U.S. suffers from dementia. The crippling disease may originate from one of many possible sources, including Alzheimer’s disease, Parkinson’s disease and brain damage. It negatively impacts cognitive function, resulting in memory loss, impaired reasoning, lowered coordination and more. Those who suffer from it often find themselves the victims of financial abuse. People close to them may seek to take advantage of their diminished mental capacity. For example, family members, friends or new spouses may try to manipulate them into changing their will while they are not in ..read more
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Common corporate issues that may require litigation
Tempe Arizona Business Law Blog
by bkabritsor
2y ago
case, especially when the business finds itself at odds with another. Commercial litigation is the area of law that deals with companies. It includes infractions involving the relations, rights or conduct of companies. As in any other legal case, there are some issues that come before the court more often than others. Breach of contract The top spot for sparking commercial litigation proceedings is a break or breach of a contract. When two or more parties set out to memorialize their agreements, they do so in a contract. The terms may involve things such as: Parts supplied from third parties S ..read more
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A buy-sell agreement will help preserve your business goals
Tempe Arizona Business Law Blog
by bkabritsor
2y ago
There are several good reasons for creating a buy-sell agreement, but in essence, the goal is to avoid conflict and preserve business interests.  If you believe a triggering event is about to occur, now is the time to work with your ownership-management group to create an effective buy-sell agreement.  What it is According to the Small Business Administration, there are about 30 million privately held businesses in our country. Many of the owners are Baby Boomers who are nearing retirement and face the decision of either selling their companies or passing them along to the next owner ..read more
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3 IP mistakes businesses regularly make
Tempe Arizona Business Law Blog
by bkabritsor
2y ago
If you have a startup business venture, your primary focus is probably on meeting customer demands. While many pieces go into that puzzle, protecting your business’s intellectual property should be high on your priority list.  When it comes to IP, making critical missteps is easier than you may think. Fortunately, you can learn a great deal from the errors of other business owners. Here are three IP mistakes entrepreneurs regularly make.  1. Not investigating properly Your company’s name, logo, slogan, décor and branding are vitally important in setting your venture apart f ..read more
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IP trends of 2020 — what should businesses know to stay current?
Tempe Arizona Business Law Blog
by bkabritsor
2y ago
Strategies for safeguarding intellectual properties have become priorities for many Arizona businesses. Whether needed to distinguish products from competitors or copyright an algorithmic process, IP protection helps shield a company from infringement.  A 2020 Supreme Court ruling and an increasing reliance by companies on proprietary programming illustrate two current trends in online branding and data-collection IP protection.  Adding “.com” turns a generic word into a brand-name IP Under a recent U.S. Supreme Court’s decision regarding an online hotel reservation company’s tradema ..read more
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Help your parents prepare for their future: Estate planning
Tempe Arizona Business Law Blog
by bkabritsor
2y ago
If your family is like most, you avoid talking about end-of-life issues. However, your elderly parents should let you know their wishes. If you wait too long, you may end up making important choices for them with no guidance from them.  Remind your parents that estate planning involves more than just writing a last will to state who inherits what. Many aspects of estate planning deal with what can happen later in your parents’ lives. Which documents are most crucial?  Living will  Though a living will sounds like it should be similar to a last will and testament, it ac ..read more
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