A trademark search can, in actuality, be many different things. In theory, a trademark search is performed to determine whether or not the mark you are hoping to use is already taken by another. This allows an individual to apply with a greater level of confidence for the use of a trademark with the United States Patent and Trademark Office (herein referred to as the USPTO). A trademark search is, ideally, a comprehensive, analytical way of researching a name, slogan or logo for prior use.

A trademark search can also be performed in a sloppy and ineffective manner, and may not protect you from potentially infringing upon another’s name or logo. This is why it’s important to ensure that the trademark research you have commissioned is done comprehensively and thoroughly!

It is not unusual for a trademark research company to charge hundreds of dollars for searching the USPTO, which you can do for free. Comprehensive research firms search Federal, State and Common Law records, which is a more logical and thorough way to research your name. When commissioning research on your name, it is important to ask the company you’re considering using to clarify what exactly their searches entail, each step of the way.

Companies may try and save money in other ways, including letting you pour through the raw data they collect without any summary of what it all means. It is important to be sure once you’ve decided to commission research on your name, that the information is compiled into an easily readable report. Examining the results of your research can sometimes be difficult, even when placed in an edited report. If you’re left to decipher the meaning of a company’s raw data, chances are you may under react or overreact to the results.

When searching your name, it is important that phonetic spellings of the name are searched, as well as vowel variations.

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At one point or another, we’ve all seen a product or business name with a small, encircled R floating next to it. You’ve probably wondered what this R symbol really means, and how exactly it got there in the first place. Most people will tell you that it means something to the effect of “registered,” but that’s only a small part of the significance behind the circled R.

It’s correct that this symbol does imply the term registered, but registered with whom, and how?

A “registered trademark”, or ®, refers to a name, slogan or logo that has been officially registered with the United States Patent and Trademark Office (USPTO). Registering a trademark is beneficial to a business because it publicly states that your trademark is registered with the USPTO and therefore, you have exclusive rights to that name within your industry. This means that if your business had a registered trademark, and you found another business of a similar nature utilizing your name or logo, you would *likely have the legal right to use your name!

Each time an individual applies for a trademark, the USPTO performs a cross reference check of their name and/or design for similarities among Federally registered or pending trademarks ONLY. The USPTO search is lacking in State trademark AND US National Common-Law databases. Because the USPTO protects names in this fashion, you do not run the risk of another business utilizing and possibly soiling the reputation of the company that you worked hard to build!

Once you have applied for your trademark, the USPTO will consider it a pending mark for up to 18 months. This is among the many reasons why it is important to apply for your trademark sooner versus later. The sooner you apply, the sooner it is that you will be doing business under a registered, protected name!

*This is dependent on if the name is truly available at the time of filing.

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CEO’s and business leaders of growing companies inside and outside the Beltway are guilty of committing a very serious strategic sin: the failure to properly protect, mine and harvest the company’s intellectual property. From 1997 to 2001, billions of dollars went into the venture capital and private equity markets and the primary use of these proceeds by entrepreneurs was the creation of intellectual property and other intangible assets. In many cases, five years later, however, emerging growth and middle market companies have failed to leverage this intellectual capital into new revenue streams, profit centers and market opportunities because of a singular focus on the company’s core business or a lack of strategic vision or expertise to uncover or identify other applications or distribution channels. Investors and tech executives may also lack the proper tools to understand and analyze the value of the company’s intellectual assets. In a recent study by Baruch Lev at NYU, only 15 % of the “true value” of the S&P 500 was found to be captured in their financial statements. This gap in capturing and reflecting points out the critical need for a legal and strategic analysis of on emerging company’s intellectual property portfolio.

To begin uncovering hidden value, entrepreneurs and senior executives of growing companies should go through the process of an intellectual property audit.

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“Cash is king!” And, running out of cash is the most common reason that businesses fail.

This article is about practical tips to reduce your risk that slow or late-paying customers will cause a cash crunch in your business.

Finding out that a customer for whom you’ve just done a large project has gone into bankruptcy is bad news.

Here are some practical tips to avoid collections problems.

Tip 1. Put it in writing.

Contracts are important! The contract should clearly define the scope of work and payment terms. It should also clearly define the responsibilities of each party, including things you may not think of, such as permits and fees, necessities like scaffolding or temporary heat, and even responsibilities for trash removal may be clearly stated in the contract. When it comes to contracts, the more you define in advance, the better off you’ll be. If you have your agreement in writing, you are much better positioned to pursue your legal remedies if the customer doesn’t pay.

Tip 2. Accelerate the receipt of cash.

Require deposits or payment up front. Accept credit cards. Insist on ‘payment on delivery.’ Offer incentives for prompt payment (e.g., 2% discount if paid within 10 days). Be cautious about extending credit. Check credit history. You may even want to implement the use of a credit application with a personal guaranty. Ask for references.

Subcontractors and sub-subcontractors should be wary of the “pay when paid” clause, which would condition payment to you upon receipt of payment by the General Contractor from the Owner.

Tip 3. Set up a system.

Invoice promptly. Set up a system and follow up promptly on all late payments.

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The process of selling or buying a business is an extremely time consuming one that requires an awful lot of paperwork and legal wrangling. It can take months to finalize a deal as a direct result of the negotiations. During that time, the sale or acquisition of the entire business often rests on the negotiations as to what the final price includes. As such, when you are either selling your business or buying another one then there are several legal documents and contracts you will come across during the course of the sale or acquisition. One such legal document is an asset purchase agreement.

What Is An Asset Purchase Agreement?

An asset purchase agreement is an essential legal document that should be factored into every single business sale or acquisition. This is because it outlines in detail what assets are included in the sale or specifically excluded from the sale. Assets can include anything that is vital to the functioning of the business or is considered an asset. This includes furniture, property, office equipment, computer systems, technology, office supplies, services, contracts, contacts and indeed anything else that the business actually has at any given time.

It is important to have a legally binding asset purchase agreement in place because it protects both the buyer and the seller from legal proceedings at a later date. Having the best interests of both in mind, anything that is on the agreement must be transferred so the buyer is getting exactly what he or she wanted.

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Businesses, meaning corporations or partnerships, have two options in filing for bankruptcy:  Chapter 7 and Chapter 11.   (Individual self-employment businesses can also potentially file under Chapter 13)  Both have their advantages and disadvantages.

Chapter 11

Chapter 11 is designed for businesses that seek to remain operating and wish to “reorganize” their debts.    Depending on how the corporation is structured, how the debts are allocated, the value of all assets–both tangible and intangible–a plan can be proposed that repays anywhere from zero to 100% to unsecured creditors.

Chapter 11 also provides the ability to break leases and contracts, and enter into new ones more favorable to the business.  This can be particularly helpful if the lease for the premises on which the business operates is burdensome and causing profits to suffer.

Chapter 11 is, however, very involved and expensive.  In order to keep expenses down (as much as possible) and promote successful reorganization, it is important to seek professional counsel as early as possible to allow sufficient time for pre-filing planning and structuring.

Chapter 7

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During the course of the sale of a business, you will need to find out exactly what documents are needed and when they will be needed. There are a lot of legal processes involved and skipping or failing to carry out one of these areas properly can be disastrous for your future plans. Escrow documents are just one of the types of documents that you will always come across. They are vital when selling or buying a business because they are fundamental for the transaction to legally occur. They also ensure the fulfilment of both the seller and buyer’s right to change his or her mind. As such, escrow documents are a must.

What are Escrow Documents?

Escrow documents are the documents that govern the final payment structure or arrangement for the business to move from the seller to the buyer smoothly. Escrow is an important period of time because it is the last chance both buyer and seller have to formalize their agreement. There are various functions that take place during this time, but all arrangements are specified in the escrow documents.

Escrow documents detail the amount of money that has been placed in the hands of a third party, which is usually a broker or a licensed escrow agent. It also stipulates when the escrowed funds are to be released and to whom, as well as any payment schedule that may exist. It may be that the seller has agreed to pay the buyer in instalments as each part of the transaction has been completed. It may be that so much is held back until 6 or 12 months down the line. This is determined in negotiations and then recorded in the escrow documents.

The main item of importance that is contained within the escrow documents though is the sale terms. The terms of any business sale have to be fulfilled before the escrow can be released, so all of that information has to be recorded in order to ensure that the transaction is a smooth one.

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My first job after graduate school was working for the federal government in the Office of Personnel Management (OPM). A few months into the job, a woman air traffic controller sued her boss and co-workers in the Federal Aviation Administration (FAA) for creating an offensive, intimidating and hostile work environment at the tune of $1 million dollars. She alleged that they sent pornographic photos across the screen of her computer while she was monitoring the safety of airplanes in flight and during landings. OPM mandated sexual harassment training for all supervisors and managers in the FAA and I designed and conducted the first-ever sexual harassment training for federal employees. That was in the 1980s. Fast forward twenty years and the workplace is still rampant with sexual harassment claims and lawsuits.

On January 9, 2006, the largest sexual harassment lawsuit ever, at $1 billion dollars, was filed in Manhattan against Dresdner Klienwort Wasserstein Services, the American branch of Dresdner Bank of
Germany. The complaint cites lewd behavior toward women, entertainment of clients at a strip club, and examples of reduced opportunities for women who returned to the job after maternity leave. This suit makes it clear that sexual harassment occurs in all types of companies and at all levels of business.

Sexual harassment in the workplace presents an ongoing and growing risk to businesses operating in the United States. From a purely business perspective, an organization stands to gain if it acts proactively. Not only is it the right thing to do, it is the smart thing to do. Here are five tips for eliminating sexual harassment in the workplace.

Act before a problem occurs.

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