Business Tips And Advice
Tips and advice from Jim
Get Real About Value
SELLERS VS. BUYERS Sellers often feel that buyers or appraisers undervalue the business because the buyer doesn't understand the business model, or because the valuation methods fail to take into account unique qualities of the business. THE IMPORTANCE OF ACCURATE...
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How to Do Due Diligence
PICTURE THIS SCENARIO: An investor approaches a business owner with an attractive offer to buy the business. There is an initial meeting and general deal points are discussed. A rough outline of the terms is sketched out on the proverbial napkin and the parties shake...
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Six Common Mistakes in Selling A Business
Today’s post is from guest author and friend Brian Setzler of TriLibrium CPAs and Wealth Advisors Most entrepreneurs eventually think about selling their businesses, whether as a prelude to retirement or to pursue other activities. In doing so, they often...
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IP Protection for the Small Business Website
We’ve spent the past several posts exploring different types of intellectual property protection. While many businesses concentrate on protecting inventions, brand names, and customer lists, they sometimes overlook the need to protect their website. Owners often think...
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Trade Secrets: How To Protect Other Confidential Information
Trade secrets include formulas, patterns, devices, or compilations of data that give a competitive advantage in business. Unlike patents, trademarks and copyrights, which primarily involve federal law, trade secrets are governed by state law. Another difference is...
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Copyrights: What You Don’t Know Can Hurt You
Although commonly associated with literary, dramatic, musical, and artistic compositions, copyrights also apply to business (and personal) website copy, including blogs. There are statutory penalties for unauthorized reproduction (copying without permission or...
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Trademarks: What Are They And Why Do We Care?
According to the United States Patent & Trademark Office, a trademark or service mark includes words, names, symbols, devices, or any combination thereof, used to identify and distinguish goods and services, and to indicate the source of the goods and services. In...
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Patent Pending? How to Know if You Need Help
If you're a small business, intellectual property protection can be expensive. This is particularly true for patents, which protect inventions. Here are five things that small business owners should know before spending the time and money to apply for patent...
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Intellectual Property: Don’t Forget to Cover Your (Other) Assets
One asset that business owners often overlook (and undervalue) is the company’s intellectual property (IP). The World Intellectual Property Organization defines IP as creations of the mind — inventions, literary and artistic works, symbols, names, images, and designs...
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Shhhh! Why You Need Nondisclosure Agreements
AVOIDING PREMATURE DISCLOSURE OF A PENDING SALE When selling a business, one thing most sellers don’t want is premature disclosure of the pending sale. Customers may drift away to competing businesses, key employees may look for other jobs because they think the new...
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