I interviewed the beautiful Shahrina Ankhi-Krol of Ankhi-Krol Law on trademarks on last week’s episode of Ag Law Today. Check it out here. Don’t forget to subscribe on iTunes and YouTube so you don’t miss a beat.
Legalized Marijuana: What Every Employer Needs to Know
The marijuana industry is huge and growing. In 2017, legal marijuana was a $1.5 billion industry in Colorado alone according to data from the Colorado Department of Revenue, and it has been identified by many analysts as one of the fastest growing industries in the United States. To date, 33 states and the District of Columbia have legalized either medical …
LLC Management: Who Should Run the Shop?
Determining who will manage the day-to-day affairs of your business is an important decision. You need to know, at the outset, who will manage operations, both for the success of your business and because the Limited Liability Company (LLC) operating agreement demands it. Luckily, LLC operating agreements are very flexible and the management structure can be tailored for your business. …
LLC Members: What You Need to Know about Your Fiduciary Duties
As a member of an LLC, you may owe a fiduciary duty to the company. The two key fiduciary duties are the duty of loyalty and the duty of care. Whether you have a fiduciary duty will depend on the LLC’s management structure and whether you have management responsibilities. Understanding your duties is essential to avoiding liability. What is a …
Can Your Business Survive the Loss of a Key Person?
You’ve likely protected your business with general liability coverage, property insurance, commercial automobile coverage, and workers’ compensation insurance. But for some businesses, operations would come to a grinding halt without certain essential contributors—key persons as we call them. If your business includes any key persons, key-person insurance should be a part of your business insurance planning. What is a key …
Does the “Corporate Veil” Really Protect Your Personal Assets?
You may have done your homework and weighed your options. Perhaps you’ve even considered the tax and non-tax implications for common business entities. We bet you’re also intrigued by the protections certain business entities afford their owners. The “corporate veil” that protects personal assets of the business owners can make a corporation or limited liability company (LLC) look very attractive. …
5 Key Benefits of a Well-Written Job Description
Although the main purpose of a job description is to, well, describe a job – it actually serves a much bigger role. In fact, a job description can improve a company’s ability to manage employees in many ways. A well-written job description will do the following: Clarify expectations. Employers need to spell out their expectations of what an employee should …
8 Simple Cost Saving Measures for Small Business Owners
All successful businesses do their best to save money, improve efficiency, and increase profits whenever and wherever possible. This is especially necessary for small businesses on a tight budget. While there are numerous ways to save money, these eight cost-saving measures are among the easiest to implement: Bargain. Bargaining with vendors is one way to save money. Examples are working …
Are your LLC Interests Actually Securities?
Securities law is a complex minefield that terrifies even the most seasoned lawyers. As a small business owner, it is your responsibility to make sure you’re complying with all the securities laws, both federal and state, that may apply to your business. Most people think that only corporate stock qualifies as securities, but did you know that LLC ownership interests …
The Employee Handbook: The Holy Grail of Your Business
Employee handbooks address the who, what, where, why, and how of your business operations. Your employee handbook will protect you and your business by setting appropriate expectations, and providing consistency for your employees when situations arise. What Information Should an Employee Handbook Include? Ideally, employee handbooks address anything significant related to your company, employees, operating policies, and applicable laws – …
I’m Starting a New Business – Should I Use an LLC (Taxed as a Partnership) or an S Corporation?
Entrepreneurship has been called the new American dream. Hanging a shingle starts with an idea that develops into a business plan, but not without careful financial and legal considerations. Among the decisions that new business owners grapple with is whether to form a limited liability company taxed as a partnership (LLC) or a corporation making an S election (S corp).* …
Business Trademarks: What’s Really in a Name?
If you’re thinking of starting a business (or already have a business in the works), make sure that the name you use is not already taken. Original names are essential for three reasons: marketing power, clarity, and trademark infringement avoidance. For example, if you’ve decided to open a coffee shop, it’s fairly easy to determine that the name “Starbucks” is …