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Atlanta Business & Commercial Law Blog

Four tools to use when licensing intellectual property

Licensing your intellectual property can be a huge money-maker—if it is done correctly. The process is not as simple as many entrepreneurs anticipate. Even the most innovative product or process can flop if it is not licensed correctly. The world of intellectual property and licensing is wide and complex, and making a misstep could be unthinkably costly.

You are probably researching the licensing process, wondering what steps you should take and considering the best strategies to use. When you are preparing to license your intellectual property, be sure to use all the tools and strategies that are available to you. These are four strategies that you can use to help ensure that your product’s licensing is successful.

Protecting your business's trade secrets

As a small business owner, you likely have closely guarded information about your company and its operations that you do not want your competitors or others accessing. Know as your business's "trade secrets," this information can take on many forms.

For example, if you operate a restaurant, your one-of-a-kind recipes likely count among your trade secrets, whereas, if you run, say, an email list brokerage service, your lists of contacts might constitute your trade secrets. Regardless of what type of trade secrets you are looking to keep, there are certain measures you can take to protect them and prevent them from falling into the wrong hands.

Avoid these 3 mistakes with your business insurance

With so many steps in starting and operating a business, you may rush through some of them. One of these steps may be purchasing an insurance plan for your company. 

However, this activity is crucial in safeguarding your earnings and reputation. Take the time to do research before you buy and to continually review your coverage to avoid these common mistakes.

Do you own a business? Don’t forget these deductions

The tax deadline has rolled around yet again, and business owners are looking for every possible method to reduce the amount they owe. Taxes can take a hefty chunk out of a business’s earnings. It is necessary for business owners of large and small companies alike to take advantage of every possible option to save money on their taxes.

Fortunately, there are several deductions that business owners can claim on their tax returns. These deductions can add up quickly, saving you a significant chunk of change. Most business owners know to take advantage of obvious deductions like costs of goods and services, advertising and maintenance. But there are several lesser-known deductions that business owners should claim as well.

Mediation, arbitration and real estate disputes: A primer

Real estate is full of thorny issues that can raise disagreements. Even when a solid contract is in place, parties can still face contentious disputes. Contract disputes are not something that any party involved in a real estate transaction wants. Nonetheless, they can arise at any stage in the transaction.

Some contract disputes are resolved through litigation. Litigation can be a long and expensive process that can bring a homeowner, contractor or other party negative attention in the press. As an alternative, some people attempt to resolve contract disputes through mediation or arbitration.

Planning an exit strategy from your startup

You have dreamed for ages about running your own startup. You have spent countless hours figuring out how to get it off the ground and make it successful. So why in the world should you start planning an exit strategy?

After building your company from the ground up, the last thing that you want to do is leave it. Exiting your company sounds crazy right now, but the business world can be volatile: Sometimes, it is necessary for even the most successful entrepreneurs to exit a startup. Failing to plan an exit strategy beforehand is actually a huge mistake.

Why is it better to get business agreements in writing?

You might be comfortable with using handshakes and promises to confirm deals and agreements, especially when it comes to friends and family. However, to successfully own and manage a business, it's important to put things down on paper. Contracts enable you to protect yourself and your business should disagreements, conflicts or contractual violations arise.

Why else is a written agreement so important?

What do venture capitalists look for in startups?

One of the most difficult parts of getting a small business off the ground is finding adequate funding. Ambitious entrepreneurs look for funding from multiple sources, like business loans, family and friends and even crowdfunding. But there is one particular source of funding that every entrepreneur dreams of: A deep-pocketed venture capitalist who is willing to invest.

Of course, venture capitalists are not easy to come by. They are very discerning when selecting startups in which to invest. However, there are a few core things that venture capitalists seem to look for when investing in startups.

Important things to consider in a franchise contract

Owning a franchise can be incredibly rewarding, but it can also be incredibly risky. The first risk that franchise owners will encounter comes in the form of their franchise contract. Signing a contract that is not to your benefit can be perilous to your financial success. And many franchise contracts are skewed in favor of the franchise company, not the owner.

Would-be franchisees should be cautious before signing a contract. Before signing your name on the dotted line, there are several important things about franchising contracts that you should know.

Tips for female franchise owners to empower other women

In the past year, there has been extensive public discussion on female parity in the workplace. The business world may still be dominated by men, but women are making significant headway. Female entrepreneurs are steadily becoming more powerful, paving the way for other business-minded women.

The franchise industry is one field that can be particularly welcoming for female entrepreneurs. Franchises can offer a sense of community and mentorship for women in a mostly-male field. Female franchise owners can follow these tips to make their industry even more welcoming for women.

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