As a business owner in Georgia, you may be considering the possibility of expanding the reach of your business. Here at Kaufman & Forman, P.C., we wish to provide you with facts and information to help you decide if this option is best for you.
As a business owner, head of a corporation or board of directors, you probably know some basics about what goes into making a valid contract such as: offer, acceptance and consideration. Of course, contracts are not as simple as those three key terms. Other factors, such as the capacity of the parties, whether it was written or verbal, and whether or not it is legally valid, etc., also frame the agreement. While contract law varies state to state, and there are differences in whether the parties are contracting for goods or services, the basic elements mostly remain the same-including when a breach occurs.
In May 11, 2016, President Obama signed the Defend Trade Secrets Act into law, strengthening the authority of business owners to protect their trade secrets and enhancing punishment of those who misappropriate proprietary information. The DTSA supplements the directives established in the Uniform Trade Secrets Act, a law adopted in all states except Massachusetts and New York.
Business owners in Georgia like you have the option of looking into the 7(a) loan program if you need a little financial boost for your business. However, certain types of businesses are ineligible for this program. Before requesting aid, be sure that your business does not fall within these parameters.
As you begin your business venture in Georgia, you will need to consider the methods people may pay you with. However, as credit and debit cards move to the center stage, more and more business owners don’t know how to protect themselves from some of the risks still associated with checks.
Dealing with the potential of franchising in Georgia can require a lot of detailed planning. Any franchise is a big business investment, so you should have as much information as possible under your belt when making your decisions. We here at Kaufman & Forman, P.C., wish to help you navigate these complex business endeavors.
Georgia entrepreneurs like you have a lot of innovative ideas just waiting to be released into the world. Naturally, you would want to protect those things from theft. We here at Kaufman & Forman, P.C., wish to help you understand what can be protected by copyright.
As previously mentioned, Georgia entrepreneurs just like you have the option of going for the 7(a) loan program if you need help to get your small business up and running. There are certain requirements you must fill to be eligible and this sets the general baseline, but be aware of the fact that some situations have special considerations.
Perhaps one of the hardest decisions that entrepreneurs in Georgia face when preparing to launch a new business is what type of operating and tax strucutre to utilize. People can choose to establish sole proprietorships, partnerships, corporations or Limited Liability Companies. Over the years, LLCs have grown in popularity for many reasons but that does not mean an LLC is always the best choice. Understanding some of the reasons people choose LLCs can help entreprenuers decide if this is the right structure for their new businesses.
If you own a business in Georgia and are looking for ways to expand your reach, franchising may be one option that you consider. Establishing and selling franchises can be a viable and financially feasible way of growing your operations, even beyond the borders of the state. However, before you take the leap and start promoting franchises for sale, you should carefully evaluate the pros and cons to this path.
If you have been following our blog, you know that it can be tricky to keep your company's trade secrets under wraps. While they are unrestricted by the time constraints of other copyrighted intellectual property, trade secrets have their own shortcomings as their profitability can be negatively impacted by informal manner in which they are protected. If you own a large company where many employees are familiar with the aspects that make your trade secret unique, you may find it difficult to ensure that this information remains within your company. Seminars on the importance of employee discretion may assuage some concerns, but lectures alone may not prevent a disgruntled individual from misappropriating the business practices that make your company successful.
The entrepreneurial spirit that has fueled our nation's growth and success is alive and well today. Many Georgia residents are filled with this spirit and one of the ways it is evidenced is by the number of people who start their own businesses. Among the many types of businesses that can be started, franchises offer individuals a unique path to business ownership. If you are considering buying a franchise, you should understand the pros and cons before making the final decision to pursue this path.
Non-compete agreements are a staple in businesses in many states, including Georgia. You may be considering drafting these for your employees as well. We here at Kaufman & Forman, P.C., wish to help you understand how non-compete agreements work under current state law and what they are at a ground level.