There are many considerations that must be taken into account when creating and maintaining a business. The type of business created, the employees to hire and countless management decisions can all make or break one's company. One long-term, ongoing business issue is the building and maintenance of the brand and reputation. This can take years, sometimes even decades. For many businesses, developing a strong brand and reputation is dependent upon customers making positive associations with a company's logo, slogan and even the appearance of their stores.
If you are thinking about starting a business, then you have a lot on your plate. You may find yourself pondering how you will raise capital, who you will hire to help you provide your goods or services and how you will protect your brand. Yet, from the get-go, the entity form you choose can play an important role not only in the initial stages of business formation but also in your business's philosophical ideals moving forward.
Choosing the right structure for your business is an essential step toward its future success. Several options exist for Pennsylvania business owners, each offering its own pros and cons. Your choice may depend on your type of business, its size and your future plans for it.
In many instances, in order for businesses to operate properly promises have to be made and kept. Because of this reality, many individuals and businesses find themselves relying on the promises of others. This is the basis of contracts. Most often, parties come together to barter over some sort of exchange, and their agreement is memorialized in writing. When the terms of a contract are broken, then a breach of the contract may have occurred. A breach can leave a party worse off than they were, which is why many breach of contract issues result in some sort of legal action.
In order to protect yourself and your business, it is crucial to have a firm understanding of the laws and regulations in place. There may be instances where you find yourself in an uncomfortable or unwelcome situation either facing business litigation or the victim of another business's illegal tactics. In order to best understand how to proceed, let us first take a look at the basics of business litigation.
Different business entities have different characteristics in different areas, including: ownership and control; liability; taxation, reporting requirements; formation and dissolution requirements; distribution of profits, and so on. The type of entity selected when forming a business is important to get right, as making a wise selection will help ensure the success of the business.
Earlier this year, a new Pennsylvania law went into effect which made significant changes to several types of partnership entities and limited liability companies. The changes were fairly widespread touching upon matters of formation, dissolution, registration, governance, distribution and liability for general and limited partnerships, limited liability partnerships, and limited liability companies.
In previous posts, we looked briefly at some of the important ways businesses can protect valuable information, including intellectual property protections and trade secret protections. Both are useful tools when employed strategically and with the help of an experienced attorney who knows how to make effective use of them.
Starting a new business is an exciting venture, but it often comes with some questions and stress. As you begin to follow your dreams to become a business owner, you might be wondering what type of business you should form. With so many options out there, this choice can be confusing. Here is a quick rundown of two of the most common business structures: limited liability companies and corporations.
Last time, we began commenting on some of the tools and strategies businesses can use to protect sensitive information from competitors, specifically taking a brief look at intellectual property rights. As we noted, registering and enforcing trademarks, patents and copyrights, and establishing an effective strategy for licensing, can be an important way for businesses to protect and benefit from their intellectual property.