When you own or operate a small business, you may feel as if you need to understand and manage a never-ending list of issues and concerns just to ensure the safe, secure and effective operation of your business.
There may be one more you need to add to the list: cybersecurity. As technology continues to
Every product you sell as a manufacturer is subject to the Uniform Commercial Code. This law requires you to guarantee to your customers that your products are free of infringement claims made by other manufacturers.
You may already have customer contracts in place with even more stringent conditions, such as providing legal defenses to customers
To date, all 50 states, the District of Columbia and the Commonwealth of Puerto Rico have enacted the 2010 Amendments to Article 9 of the Uniform Commercial Code (UCC). However, the U.S. Virgin Islands is still the only jurisdiction not to enact those amendments, an issue that has
The U.S. Virgin Islands provides business owners with some significant tax incentives as a means of boosting its economy and encouraging businesses to open up shop in the Territory. While qualified businesses are able to reduce up to 90 percent of their personal and corporate federal income taxes, and could even receive a full exemption
When you own or operate a business, it’s very possible that you will find yourself involved in some type of dispute. In the more serious cases, you may even face a lawsuit.
The following are a few simple actions that can protect you in the event of business litigation:
Get insured: Having a high-quality business
Trade secrets are a valuable type of intellectual property—and they’re now subject to a number of federal protections similar to patents, copyrights and trademarks. This development is thanks to the new Defend Trade Secrets Act, which was written and approved to help strengthen the protection of trade secrets in the United States and its
The vast majority of business arrangements involve partners splitting profits and debts based on their contributions to the company. A two-person partnership, for example, often has a 50/50 split, but these arrangements can become more complicated as more partners are added.
For example, imagine a two-person partnership in which one partner contributed the majority of
Whenever a new business is founded, the entrepreneur must decide what type of company it will operate us. Two of the most common choices are C Corps and S Corps—each of which has its own advantages. The choice you make depends largely on how you intend to run and structure your business.
After you’ve worked so hard to build and grow your business, it’s important to know how to pass it on to your beneficiaries.
To do this, you need a sound succession plan in place that will guide the future of your business if you decide you no longer want to run it—or in the event
Do you have a patent or trademark under Section 9 that is about to expire? If so, you likely need to prepare for renewal soon. If you do not take the appropriate steps to renew your trademark, the U.S. Patent and Trademark Office (USPTO) will ultimately cancel your registration, thereby allowing others to profit off