How do I protect my intellectual property?

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Your success depends on what you do—building and maintaining a competitive advantage—and your customers and clients knowing who you are. There are four key ways to protect your business’s intellectual property: trade secrets, patents, copyrights, and trademarks. Trade Secrets Trade secrets are your “special sauce”—essentially any confidential business information that…

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Insuring for the Future for Small Businesses Part 4: What Are Some Lesser-Known Insurance Options That May Protect My Business?

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This is the last in a series covering the insurance requirements for small businesses. We have covered general liability policies, insurance requirements when hiring employees, and planning for key personnel turnover. The point here is to highlight some forms of less common insurance policies that may be a valuable asset…

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Insuring for the Future for Small Businesses Part 3: How Can Insurance Help Me Plan for and Protect Against Personnel Turnover?

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The people are the heart of any business. However, while businesses can live on in perpetuity, people move on to different opportunities, retire, or pass away. Insurance can help alleviate the impact these changes have on a business. The two most common forms of insurance are Key Person Insurance and…

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Insuring for the Future for Small Businesses Part 2: What Insurance Do I Need When I Have Employees?

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Businesses with employees must take into consideration several insurance options. Businesses must meet certain state requirements, including carrying workers compensation insurance and paying unemployment insurance tax. Businesses can also leverage certain insurance as an employee benefit—most typically health insurance and disability insurance. There are also insurance policies that protect against…

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Insuring for the Future for Small Businesses Part 1: What Is Commercial Business Insurance and What Insurance Do I Need for My Business?

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It is easy to get overwhelmed when starting up your own business. There are so many details—requirements to file with the state, bank accounts to set up, and real work to do. It is also easy to consider certain costs luxuries. However, insurance is one item small businesses cannot afford…

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Anatomy of an Operating Agreement Part 3: What Do I Need in an Operating Agreement to Facilitate Turnover in Ownership?

By | LLC, Operating Agreement, Startups | No Comments

LLCs with multiple owners need to document their procedures for handling the expulsion and departure of members, as well as dissolution of the company. Without an operating agreement to define these processes, owners will be poorly able to execute these activities. Withdrawal or Death of a Member You may have…

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Anatomy of an Operating Agreement Part 2: How Do I Limit Liability in an Operating Agreement?

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One of the key pieces of a limited liability company, and why business owners choose to organize under such an entity, is the protection it provides to a business owner’s personal assets. Including two additional provisions, an indemnity clause and a limitation of liability, can further enhance the limited liability…

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