Chances are if you are an entrepreneur, you have a little “issue” when it comes to controlling everything about your company -- in other words, you find it hard to trust others when it comes to your “baby.”

But unless you are an experienced business attorney, you probably don’t have the knowledge -- and most certainly the time -- to understand the legal implications of just about every decision you will be making about your new business, including its structure, the agreements and contracts that will determine how your company will function and be profitable, and even hiring your first employee.

While entrepreneurs are usually great problem solvers, a good business lawyer is trained to see potential problems ...

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temp-post-image Beyond the products or services you offer, your company has intellectual property that needs to be rigorously protected. Too often, business owners and entrepreneurs neglect to put the proper safeguards in place, which can lead to big legal expenses down the road.

Here are 6 costly IP mistakes you need to avoid to protect your brand:

1. Choosing the wrong name. Whether it’s the name of a company or a product, you need to do some research before settling on a name and spending money marketing it. First, run a simple search on Google. Then go deeper by searching the U.S. Patent and Trademark office website.

2. Not being specific. Using a simple descriptive name will likely not do you any good in having it be associated with your compan...

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Your family-owned business can either be the greatest gift, or, the greatest burden to the people you love if something were to happen to you.

If you have planned well and properly for your business to be continued, managed, and sold, it will be the gift that keeps on giving! It will also show your family just how much you cared about them.

If you have not planned well and properly, it will be the gift that keeps on TAKING. It will consume your energy, time, and drain you of your resources. This could cost your loved ones’ years of headaches and leave them with a nightmare of a mess to clean up.

Fortunately, you are reading this article now and there is still time to take these three actions into consideration!

Organization and Formal...

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As a business owner, you likely spend most of your time thinking about money, profit margins, and cash flow. But, your most valuable resource is actually your time. It's time for you to invest a lot more of your energy using money, which is infinitely renewable, to free up what’s nonrenewable like your time, energy, and attention.

For some, the very term “time management” is like nails on a chalkboard.

But if you’re the owner of a small business, managing your time wisely is critical. You’re the most valuable person in your company, and you cannot afford to spend time spinning your wheels.

To turn a profit, you need to maximize the time you spend doing things that only you can do and use your money to wisely h...

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Earlier this month, The University of North Texas resolved a conflict involving Michigan State University and the misuse of their trade marked "mean green" mascot. ESPN referred to Michigan State as the "Mean Green" team, which is the official name of all of UNT Athletics. The athletic Director for UNT sent out a cease and dismiss letter to ESPN and Michigan State to solve the issue. The University of North Texas did good job of PROTECTING and DEFENDING their brand. Before your company has a misstep with intellectual property litigation, consider these tips for developing and protecting a brand:

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It is a common misconception that oral contracts are not enforceable. It is true that certain agreements must be in writing to be enforceable. For example, the statute of frauds requires agreements involving real property, marriage, performance over multiple years and the sale of goods over $500 to be in writing. If an oral agreement does not fall within one of the specified categories, it may be an enforceable contract

It is significant to note that the statute of frauds does not cover services that cost more than $500. The final determination on whether an agreement falls under the statute of frauds (and therefore requires a written document) falls with the courts. Many courts follow the Uniform Commercial Code’s definition of th...

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Should My Business Be an LLC?

Many small-business owners have heard that they should operate their business as an LLC (limited liability company). But is that true for you? Three major factors you should consider in choosing a type of business entity are liability protection, taxation, and convenience. For many businesses, an LLC is the best choice!

The LLC—A Flexible Option

Liability protection, taxation, convenience—on each of these three major factors, the LLC is an attractive entity for the small business.

The owners of an LLC are generally not personally liable for the business’s debts. If the business gets sued, or can’t pay its bills, then you as an owner don’t need to worry about having to pay out of y...

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Top 10 Legal Tips for Entrepreneurs

If 2017 is the year you decide to strike out on your own and start your own business, there are some basic legal issues you need to take into consideration as part of your start-up planning. Here are our top 10 legal tips for entrepreneurs:

1. Choose the right business structure. Most businesses start life as a sole proprietorship, but if you have personal assets to protect, you should consider operating your company as a limited liability company (LLC) or corporation. These entities will protect your personal assets from business liabilities and can offer you some tax advantages as well.

2. Get insurance. Business insurance is a necessity for most companies, but especially important if you are operat...

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So you’ve decided to start a business. It’s a very exciting time...but can be fraught with many decisions. One of the first, which can impact everything from taxation to liability, is the choice of a business entity. Should you opt for a traditional sole proprietorship, a partnership, a corporation, or an alternate business entity? Today we will discuss these different types of business entities so you can be best informed when the time comes!

Sole Proprietorship

The simplest form of business entity is a sole proprietorship. There are no formalities with this structure. No filings are required with the state and no fee must be paid. The trade-off for this lack of formality is that the sole proprietorship has few other advantag...

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According to the U.S. Small Business Association, small businesses create almost two of every three jobs in the U.S. every year, and half of working Americans are either owners or employees of a small business.

The SBA advises entrepreneurs to seek counsel while in the initial phases of getting a business off the ground. As a small business owner, you are subject to the same laws and regulation as a large corporation, so it helps to have a Creative Business Lawyer® by your side as you begin your new venture to provide experienced legal advice on:

  • Operating agreement
  • Legal partnership agreement
  • Articles of Incorporation
  • Bylaws
  • Operations Manual
  • Funding your business
  • Insurance for yourself and your business
  • Tax strategies for your business (and your family)
  • How to set up your employee/independent contractor relationships
  • The best ways to protect and capitalize on your intellectual property

Failure to plan—especially for small business owners—can have disastrous consequences for both your family and your business. If you have chosen to combat economic conditions by cr...

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Reib Law

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Phone. 940-591-0600