Business Law Attorneys

Register Your Business: Reasons Why Trademarking a Brand is a Good Idea

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In today’s competitive world, you want to do everything you can to protect your business. For that reason, you need to consider the value of trademarking a brand for that business. Doing so could protect your investments in the long run.

After all, even experts recognize the importance of trademarking a business these days. Don’t underestimate the value of legal protection of your intellectual property. While you may not think that paying for a trademark is worthwhile, it’s in your best interest to reconsider.

The good news, though, is you’ve come to the right place with this article. Detailed below is everything you need to know about the benefits of trademarking your brand.

Don’t take the risk of letting other businesses cash in on your ideas and designs. Instead, take the time to invest in a proper trademark so you can focus on increasing profits for years to come.

You Deserve Legal Ownership over Your Ideas

The first thing to recognize is that trademarking your brand will simply feel better. You deserve to feel like you have real ownership over your brand and intellectual property.

After all, you spent time and energy designing that logo, right? You spent countless hours developing that branded social media marketing strategy, right? Don’t make the mistake of losing all of that value by not trademarking your brand soon.

If You Don’t Register Your Business, You Might Be Infringing on Someone Else’s

Of course, not only does a trademark protect your ideas and intellectual property from getting stolen. You’ll also be protecting yourself from accidentally stealing someone else’s!

The reason for this is that when you’re ready to trademark your brand, you’ll have to register it. Since all trademark registrations are recorded, you’ll be able to know right off the bat if someone else is already using your branding strategy.

Consider the following statistic regarding registered trademarks throughout the world. It indicates that in the year 2017, there were about 5.4 million registered trademarks worldwide. In other words, there’s no telling if someone else has your brand registered until you research.

For this reason, it’s smart to wait on your marketing campaign until your trademark is authorized. You don’t want to waste all of your company resources on promotional products you can’t use.

For one thing, that would be a serious waste of money. For another thing, you’ll have to take the time and effort to redesign your branding strategy altogether. That’s why trademarking your brand as soon as you think of it is in your best interest.

Establish an Official Reputation in Your Industry

Starting your own business is no easy feat in the first place. That’s why it’s wise to connect with other established professionals right off the bat. You understand the value of networking to develop corporate relationships, right?

Well, with an official trademark, expect other businesses in the industry to take you more seriously. Since a trademark is a long-term investment, you’re proving that you’re dedicated to sticking around. For that reason, you’ll find plenty of business connections to make the most of your endeavors.

In fact, odds are that you will want an established relationship with a trusted business law attorney. That means that when you’re ready to invest in a trademark, you should connect with a law firm.

In particular, focus on connecting with one that can continue to represent your business’s best legal interests. Doing so is another way you’ll be establishing your business as a top-quality one.

Trademarking a Brand Avoids the Risk of Losing Customers

Imagine you’ve been building your business for about a year before trademarking it. You’ve developed a loyal consumer base with your current branding strategy.

Those customers know how to recognize you when they need your products or services. Customer loyalty, in the long run, is an invaluable asset.

Then, someone else in your local market establishes a business with pretty much the exact same brand. Not only that, but they trademark the brand that you’ve been working with all this time.

Before you know it, all of your loyal customers are starting to look at the other business. Why wouldn’t they, since you both have the same marketing strategies?

That’s one of the most significant reasons for trademarking a brand. If you don’t do so as your business is getting started, you’re taking a huge risk.

Someone else might do so before you know it. At that point, you’ll have no legal claim to the intellectual property since you avoided trademarking it. Those loyal customers, then, are no longer yours.

Your Trademark Will Never Expire

Don’t forget that when you register your trademark, it never expires. For the rest of the future, that intellectual property will be legally associated with your name.

This is of particular convenience since you don’t have to worry about keeping up with recurring registration fees. Plus, it allows you to grow and expand your company without fear of losing the trademark you’ve established.

Invest in a Proper Trademark for Your Business’s Brand Today

At this point in the article, you have a thorough understanding of why trademarking a brand is so worthwhile. As a responsible business owner, your top priority is the company’s bottom line. That means that it’s crucial you protect your investments in this brand.

After all, you deserve the peace of mind that comes from knowing no one can steal your ideas! Whether it’s accidental or intentional, it’s only too common for businesses to copy each other. For that reason, prevent the loss of your customers with an official trademark.

Of course, even when you have to legally defend your trademark, you’re going to need help. It’s fortunate, then, that this is where we can help you.

We prioritize representing our clients’ businesses in the best light during legal cases. We want to ensure your business has its rights and intellectually property well-protected.

That’s why we encourage you to browse through the rest of our website to see how we can help defend your business. To start, check out more information about our experience with trademarks on our website today.

International Expansion: How to Take Your Business Global

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You’ve heard the saying that everyone has to start somewhere, and it’s as true as ever in business. Both Apple and the mom and pop shop down the street started with a single modest location. The difference is that at some point, Apple made a massive jump.

If you have dreams of being the next Apple, you may believe that it’s time to take the leap. At the same time, you know how huge of a transition it is, and you don’t want to make any wrong moves.

Instead of letting the unknown paralyze you, start with these tips for international expansion.

International Expansion Tips for US Businesses

Taking your business international isn’t as easy as carting your product down to Mexico and opening up a shop. Here’s how to make sure it’s the right decision and make it a successful expansion.

Run the Numbers

Like so many decisions in business, deciding to go international will start with math.

An international expansion is an expensive endeavor. Depending on your business model you’ll probably have costs like real estate, hiring, extensive marketing, permits and licenses, and more.

Do a thorough cost analysis to get an idea of the investment you’ll be making. Then find out if you have the financials to cover it. One of the biggest expansion mistakes companies make is starting an international growth plan and running out of money halfway through.

Keep it Gradual

As you start planning the route your expansion will take, remember that age-old wisdom: “Slow and steady wins the race.”

Don’t try to conquer the world in one go. Start with a single country and build your presence there first. Little by little, you can expand more and more to additional countries.

We say this because there are such dramatic differences in doing business between one country and the next. You need to do your due diligence before crossing every and any border.

Most businesses find it easiest to start with the nearest countries to them and move outward. You may begin with Canada, then Mexico, then start expanding into western Europe or South America.

Analyze Your Target Market

We’ve talked about researching your costs and challenges every time you expand into a new country. During that process, you also need to research the market you’re trying to sell to.

Is there a need for products or services like yours in the new country? Does something or someone else fill this need already? Do those customers even have the problem your product or service solves, like US customers did before you appeared?

On top of researching the demand, you need to investigate your competition in each country. If someone else already has a stronghold in your industry and their customers aren’t looking for alternatives, you may not be able to carve out the market share you need.

Investigate the Business Laws

In the US, we have business law attorneys who specialize in the area because even people who are born and raised here don’t understand all the laws and regulations. This is true in other countries too.

Before you enter each new country, you need to work with an attorney to learn about the laws in the country. Find out what types of documentation and testing you need in order to sell in that country.

This should be something you do early in the process too. You may discover that some part of your manufacturing process is banned in the country you planned to enter. This completely changes your cost analysis, so you need to know this early.

Consider Changes to Your Product

Speaking of making changes to your product, legal hurdles aren’t the only reason this may be necessary.

If you’re planning to sell an electronic product in Europe, for instance, you’ll need a different power plug. If you’re expanding to a non-English-speaking country, you’ll need to change your packaging to have the new country’s language.

These are a few of many reasons you could need a whole new product to sell in another country. As with the legal regulations, this needs to be part of your cost analysis before you decide whether to pursue your expansion.

Access Your Network

One of the most useful assets in your corner as you expand your business is your network.

A business contact in your target country could be an invaluable resource. On top of giving you insight into their local scene, they can put you in touch with the right people.

Scour your contacts to see if you know anyone with connections in your target country. If so, fill them in on your plans and perhaps they can introduce you to some people who can help you jumpstart your expansion.

Before you tell anyone about the move you’re planning, though, consult with your business attorney. You may need to ask them to sign a non-disclosure agreement before you fill them in.

Build Up Your US Staff

Most business owners that decide to expand internationally do so when they feel like their US-based business is running smoothly.

Be careful about making assumptions, though. Remember that your US business is running well with you giving it all of your focus, and the same goes for your upper management.

As you and other high-level personnel in your business focus on an expansion, it means you’ll have less time for the US side of the business. You’ll likely need to hire additional staff to pick up the slack.

Taking the Plunge

If you have a thriving business in the US, you probably didn’t get there without doing your due diligence before making major moves. You need to take the same care before taking your business international.

The tips above will guide you through the first steps in your international expansion. As you’ll notice, many of them are based on determining whether the expansion is even the right choice at this time.

If you’re ready to get into the nitty-gritty, call our business attorneys to learn more about your options and the road ahead.

Law Jobs For Humans. And For Humanity

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So You’ve Had a Compliance Breach – Now What?

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Law Firm Awards Announced

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Lorem ipsum dolor sit amet, consectetur adipiscing elit. Aliquam at nisi a magna ullamcorper ullamcorper. Integer molestie, augue a fringilla mollis, est velit aliquam dui, et rutrum nulla nunc non elit. Integer interdum est ut suscipit vestibulum. Nunc mollis pretium nunc eu dapibus. Sed commodo blandit congue. Morbi a dolor non leo mattis tincidunt quis quis mi. Nulla condimentum ipsum ac pulvinar tempor. Nunc varius laoreet dolor vel fringilla. Aliquam erat volutpat. Class aptent taciti sociosqu ad litora torquent per conubia nostra, per inceptos himenaeos. Ut ac nisi sodales, blandit justo a, tincidunt ante.

Donec rhoncus dictum massa, placerat finibus nibh finibus ac. In congue et mi sit amet rhoncus. In sollicitudin efficitur felis vitae imperdiet. Proin laoreet eros a ante porta, eget accumsan mi facilisis. Suspendisse vitae nunc augue. Donec venenatis sed nibh sit amet egestas. Morbi feugiat suscipit nisi a ornare. Maecenas ullamcorper, ante id varius ultrices, est ex commodo quam, a feugiat ante urna eu dui.

Quisque aliquet varius lacus. Vestibulum ut blandit metus, ut blandit mi. Morbi et maximus odio, eget hendrerit urna. Sed hendrerit aliquam odio eget suscipit. In non lacus iaculis, posuere nisi ac, interdum lacus. Fusce pulvinar fermentum quam, non egestas massa fringilla sed. Mauris mollis orci tortor, at fringilla nibh pulvinar ut. Vivamus ut lacus sit amet eros vestibulum ullamcorper.

Pellentesque habitant morbi tristique senectus et netus et malesuada fames ac turpis egestas. Vestibulum pellentesque, elit eget volutpat cursus, nibh mauris faucibus dui, eget mattis elit massa eget lorem. In ut lacus eu sapien pellentesque ultricies at vel sapien. Nulla at ligula in est placerat bibendum vel at augue. Mauris et sem nunc. Nulla malesuada velit eget ante fringilla tempor. In aliquam neque non sapien elementum, sit amet blandit risus tempor. Sed augue ante, varius eget vulputate vitae, bibendum id felis. Fusce ipsum justo, vulputate ut tortor id, aliquam rhoncus mauris. Mauris ultrices mattis lorem, eu pharetra metus facilisis interdum.

Nunc ante odio, convallis at maximus ac, rhoncus eget urna. Maecenas gravida risus lectus, quis tincidunt massa iaculis et. Suspendisse consectetur risus eu nisi finibus, sed tincidunt turpis commodo. Nullam id tortor sollicitudin orci rutrum vulputate eget quis sapien. Ut posuere, ante vitae iaculis convallis, nibh lectus elementum massa, efficitur bibendum nibh nibh eu arcu. Maecenas maximus orci id consectetur volutpat. Suspendisse efficitur urna est, non pretium lectus fringilla in.

Class aptent taciti sociosqu ad litora torquent per conubia nostra, per inceptos himenaeos. Praesent cursus tellus id arcu lobortis sodales. Nulla sollicitudin congue augue, pulvinar tempus magna facilisis eget. Vestibulum mollis urna turpis, in venenatis nisi tincidunt eget. Ut nec diam vitae leo volutpat sagittis non a odio. Vestibulum tincidunt erat in sem pretium posuere. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Orci varius natoque penatibus et magnis dis parturient montes, nascetur ridiculus mus. Morbi vulputate neque ac placerat scelerisque. Nullam porttitor nunc efficitur consectetur posuere.

 

Nunc ante odio, convallis at maximus ac, rhoncus eget urna. Maecenas gravida risus lectus, quis tincidunt massa iaculis et. Suspendisse consectetur risus eu nisi finibus, sed tincidunt turpis commodo. Nullam id tortor sollicitudin orci rutrum vulputate eget quis sapien. Ut posuere, ante vitae iaculis convallis, nibh lectus elementum massa, efficitur bibendum nibh nibh eu arcu. Maecenas maximus orci id consectetur volutpat. Suspendisse efficitur urna est, non pretium lectus fringilla in.

Class aptent taciti sociosqu ad litora torquent per conubia nostra, per inceptos himenaeos. Praesent cursus tellus id arcu lobortis sodales. Nulla sollicitudin congue augue, pulvinar tempus magna facilisis eget. Vestibulum mollis urna turpis, in venenatis nisi tincidunt eget. Ut nec diam vitae leo volutpat sagittis non a odio. Vestibulum tincidunt erat in sem pretium posuere. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Orci varius natoque penatibus et magnis dis parturient montes, nascetur ridiculus mus. Morbi vulputate neque ac placerat scelerisque. Nullam porttitor nunc efficitur consectetur posuere.

Nunc ante odio, convallis at maximus ac, rhoncus eget urna. Maecenas gravida risus lectus, quis tincidunt massa iaculis et. Suspendisse consectetur risus eu nisi finibus, sed tincidunt turpis commodo. Nullam id tortor sollicitudin orci rutrum vulputate eget quis sapien. Ut posuere, ante vitae iaculis convallis, nibh lectus elementum massa, efficitur bibendum nibh nibh eu arcu. Maecenas maximus orci id consectetur volutpat. Suspendisse efficitur urna est, non pretium lectus fringilla in.

Class aptent taciti sociosqu ad litora torquent per conubia nostra, per inceptos himenaeos. Praesent cursus tellus id arcu lobortis sodales. Nulla sollicitudin congue augue, pulvinar tempus magna facilisis eget. Vestibulum mollis urna turpis, in venenatis nisi tincidunt eget. Ut nec diam vitae leo volutpat sagittis non a odio. Vestibulum tincidunt erat in sem pretium posuere. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Orci varius natoque penatibus et magnis dis parturient montes, nascetur ridiculus mus. Morbi vulputate neque ac placerat scelerisque. Nullam porttitor nunc efficitur consectetur posuere.

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Should I Hire an Experienced Defense Attorney?

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[et_pb_section fb_built=”1″ fullwidth=”on” _builder_version=”3.22.3″][et_pb_fullwidth_post_title author=”off” comments=”off” featured_placement=”background” _builder_version=”3.21.1″ title_font=”|700|||||||” title_text_align=”center” title_text_color=”#ffffff” title_font_size=”40px” meta_font=”||||||||” meta_text_align=”center” meta_text_color=”rgba(255,255,255,0.6)” meta_font_size=”16px” background_color=”rgba(15,15,15,0.7)” background_image=”https://debruinlawfirm.com/wp-content/uploads/2019/03/blog-post-01.jpg” background_repeat=”repeat” background_blend=”multiply” module_alignment=”center”][/et_pb_fullwidth_post_title][/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”3.22.3″ custom_padding=”0|0px|0|0px|false|false”][et_pb_row custom_padding=”0|0px|0|0px|false|false” custom_margin=”||” _builder_version=”3.22.3″][et_pb_column type=”4_4″ _builder_version=”3.19.13″][et_pb_image src=”https://debruinlawfirm.com/wp-content/uploads/2018/09/team-11.jpg” align=”center” _builder_version=”3.19.18″ border_radii=”on|100px|100px|100px|100px” border_width_all=”5px” border_color_all=”#ffffff” max_width=”80px” module_alignment=”center” custom_margin=”-40px||”][/et_pb_image][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”3.22.3″ custom_padding=”40px|0px|0|0px|false|false”][et_pb_row custom_margin=”|||” custom_padding_last_edited=”off|phone” _builder_version=”3.22.3″ background_size=”initial” background_position=”top_left” max_width=”1100px” use_custom_width=”on” custom_width_px=”1100px”][et_pb_column type=”4_4″ _builder_version=”3.0.47″][et_pb_text _builder_version=”3.19.9″ text_font=”Roboto Slab||||||||” background_size=”initial” background_position=”top_left” background_repeat=”repeat”]

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Aliquam at nisi a magna ullamcorper ullamcorper. Integer molestie, augue a fringilla mollis, est velit aliquam dui, et rutrum nulla nunc non elit. Integer interdum est ut suscipit vestibulum. Nunc mollis pretium nunc eu dapibus. Sed commodo blandit congue. Morbi a dolor non leo mattis tincidunt quis quis mi. Nulla condimentum ipsum ac pulvinar tempor. Nunc varius laoreet dolor vel fringilla. Aliquam erat volutpat. Class aptent taciti sociosqu ad litora torquent per conubia nostra, per inceptos himenaeos. Ut ac nisi sodales, blandit justo a, tincidunt ante.

Donec rhoncus dictum massa, placerat finibus nibh finibus ac. In congue et mi sit amet rhoncus. In sollicitudin efficitur felis vitae imperdiet. Proin laoreet eros a ante porta, eget accumsan mi facilisis. Suspendisse vitae nunc augue. Donec venenatis sed nibh sit amet egestas. Morbi feugiat suscipit nisi a ornare. Maecenas ullamcorper, ante id varius ultrices, est ex commodo quam, a feugiat ante urna eu dui.

Quisque aliquet varius lacus. Vestibulum ut blandit metus, ut blandit mi. Morbi et maximus odio, eget hendrerit urna. Sed hendrerit aliquam odio eget suscipit. In non lacus iaculis, posuere nisi ac, interdum lacus. Fusce pulvinar fermentum quam, non egestas massa fringilla sed. Mauris mollis orci tortor, at fringilla nibh pulvinar ut. Vivamus ut lacus sit amet eros vestibulum ullamcorper.

Pellentesque habitant morbi tristique senectus et netus et malesuada fames ac turpis egestas. Vestibulum pellentesque, elit eget volutpat cursus, nibh mauris faucibus dui, eget mattis elit massa eget lorem. In ut lacus eu sapien pellentesque ultricies at vel sapien. Nulla at ligula in est placerat bibendum vel at augue. Mauris et sem nunc. Nulla malesuada velit eget ante fringilla tempor. In aliquam neque non sapien elementum, sit amet blandit risus tempor. Sed augue ante, varius eget vulputate vitae, bibendum id felis. Fusce ipsum justo, vulputate ut tortor id, aliquam rhoncus mauris. Mauris ultrices mattis lorem, eu pharetra metus facilisis interdum.

Nunc ante odio, convallis at maximus ac, rhoncus eget urna. Maecenas gravida risus lectus, quis tincidunt massa iaculis et. Suspendisse consectetur risus eu nisi finibus, sed tincidunt turpis commodo. Nullam id tortor sollicitudin orci rutrum vulputate eget quis sapien. Ut posuere, ante vitae iaculis convallis, nibh lectus elementum massa, efficitur bibendum nibh nibh eu arcu. Maecenas maximus orci id consectetur volutpat. Suspendisse efficitur urna est, non pretium lectus fringilla in.

Class aptent taciti sociosqu ad litora torquent per conubia nostra, per inceptos himenaeos. Praesent cursus tellus id arcu lobortis sodales. Nulla sollicitudin congue augue, pulvinar tempus magna facilisis eget. Vestibulum mollis urna turpis, in venenatis nisi tincidunt eget. Ut nec diam vitae leo volutpat sagittis non a odio. Vestibulum tincidunt erat in sem pretium posuere. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Orci varius natoque penatibus et magnis dis parturient montes, nascetur ridiculus mus. Morbi vulputate neque ac placerat scelerisque. Nullam porttitor nunc efficitur consectetur posuere.

 

Nunc ante odio, convallis at maximus ac, rhoncus eget urna. Maecenas gravida risus lectus, quis tincidunt massa iaculis et. Suspendisse consectetur risus eu nisi finibus, sed tincidunt turpis commodo. Nullam id tortor sollicitudin orci rutrum vulputate eget quis sapien. Ut posuere, ante vitae iaculis convallis, nibh lectus elementum massa, efficitur bibendum nibh nibh eu arcu. Maecenas maximus orci id consectetur volutpat. Suspendisse efficitur urna est, non pretium lectus fringilla in.

Class aptent taciti sociosqu ad litora torquent per conubia nostra, per inceptos himenaeos. Praesent cursus tellus id arcu lobortis sodales. Nulla sollicitudin congue augue, pulvinar tempus magna facilisis eget. Vestibulum mollis urna turpis, in venenatis nisi tincidunt eget. Ut nec diam vitae leo volutpat sagittis non a odio. Vestibulum tincidunt erat in sem pretium posuere. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Orci varius natoque penatibus et magnis dis parturient montes, nascetur ridiculus mus. Morbi vulputate neque ac placerat scelerisque. Nullam porttitor nunc efficitur consectetur posuere.

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The Benefits Hiring a Criminal Defense Lawyer

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Donec rhoncus dictum massa, placerat finibus nibh finibus ac. In congue et mi sit amet rhoncus. In sollicitudin efficitur felis vitae imperdiet. Proin laoreet eros a ante porta, eget accumsan mi facilisis. Suspendisse vitae nunc augue. Donec venenatis sed nibh sit amet egestas. Morbi feugiat suscipit nisi a ornare. Maecenas ullamcorper, ante id varius ultrices, est ex commodo quam, a feugiat ante urna eu dui.

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Let’s Move This: How Do I Sell My Business in South Carolina?

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There comes a time for all business owners when they might want to sell their business to move on to bigger and better things or because they just aren’t making enough money for it to be worth it anymore.

If this sounds like you, you may be asking yourself “How do I sell my business?”  It’s not a complicated process if you know what you’re doing but it is easy to make mistakes with it if you don’t. In this article, we’re going to go over the process of selling a business while also going through a few mistakes that you might make during the process.

1. Purchases

Usually, the purchase of a business is going to be in the form of one or two methods, asset purchase or stock purchase. We’re going to briefly go over both of them.

Asset Purchase

An asset purchase is when the buyer either buys some of the seller’s assets or all of them. The buyer gets the most out of this purchase because they will get all of your equipment and inventory without taking on any of the debts that you accumulated throughout the years of running your business.

Stock Purchase

A stock purchase when the buyer fully steps into your shoes and takes either some or all of your stock. This option benefits you the most because they will take on your debts where you left off. It gives you back your freedom and allows you to wash your hands clean in a sense.

Next, we will be giving you an idea about how the sell might go down so you can know what to expect.

2. Primary Negotiations

At this time, the buyer will take their time investigating you to decide if your assets are worth taking. You will meet and discuss this through this process. It may take a little longer if you are doing a stock because they need to know what they are getting themselves into in terms of your debt.

When you meet you should discuss this along with your need for a board of director’s approval if you need any third-party documents, and if you need any third-party approval. Once you’ve come to an agreement it’s time to sign the forms and get started with the pre-closing processes.

3. Pre-Closing

A final agreement is finally created. It contains every detail of the deal that was made, the price, when the business assets will be turned over to the new owner if these assets will be held by an escrow agent, and any other important factors.

Once pre-closing starts, the seller and the buyer will be responsible for gathering any documents that are needed to finalize the deal. These documents will vary depending on if it’s an asset purchase or stock purchase.

4. Closing

Finally the moment of truth, it’s the day of the closing. It’s a lot of paperwork so to make things easier on yourself there are a few things that you’ll need to do.

Make sure every document is both signed and notarized before the big day. The sales proceeds need to be handed out properly according to the terms in the agreement. Lastly, make sure you record an extra copy of all the important documents like the deed.

5. Common Mistakes Made

This is a basic rundown of what the process will look like. It seems pretty on paper but in practice, it isn’t as straight forward. It is very possible and easy to make mistakes. We’re going to go over a few of the common ones.

Not Preparing Enough

The most common and easiest mistake that you can make is failing to prepare enough for the process. Again, you want to make sure all of your documentation is together.

If you’re considering selling your business, you need to start the process as soon as possible. It will take around two years to finish the process so you can see why you shouldn’t put it off.

Being Too Confident

There is nothing wrong with being confident but where you fail is when you’re too confident. When this happens, it could cause you to slack off in making the right preparations. This brings us back to the point above.

If you’re confident that you will get top dollar for your business, you’ll want to stash those dreams away. Granted, it is possible that you will get what you want for it but if you’re stuck on that amount and refuse to budge, you may never sell your business.

Unwilling to Bring in Professionals

You know how to run your business, but think deep inside yourself and ask, “do you have what it takes to sell it?” The answer to this question is most likely no, or at least not as well as a professional could.

Yes, it does cost to hire a broker but chances are, they can sell your business at a price where you will hardly miss the amount of that cost.

Still Asking Yourself How do I Sell My Business?

Are you still asking yourself the question “how do I sell my business?” It’s a long process but not a difficult one if you know what you’re doing. There are many mistakes that you could make, but if you call an experienced broker they can walk you through the negotiations, the pre-closing, and closing process.

Need to get your business sold? Contact us today to talk to one of our experienced attorneys.

Do You Know How to Form an LLC? Here’s Why You Should Let a Lawyer Help

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Entrepreneurs are a unique kind of person. They’re go-getters and are usually excited to see exactly what they’re capable of. They want to push themselves to their limits.

Sometimes though, those limits are actually forming the company they want to run. A lot of legal paperwork goes into forming any company. Not everyone knows how to form an LLC, or whether an LLC is right for them.

That’s why entrepreneurs looking to find their start in business should hire a lawyer first. Lawyers are experienced in forming many kinds of business, and they know how to work with many kinds of people. Their clients leave the offices excited and prepared for their futures, whatever may be in them.

Hiring a lawyer is also more than a way to prepare for the future. It sets people up for success early on and gives companies a formal edge against their competition.

Keep reading below to learn why you should hire a lawyer to form your LLC!

Lawyers Know What to Plan for

Do you have a plan for your business in case you end up getting a divorce? Even though it’s not something anyone wants to think about, provisions should be made in case it happens. Divorces end more small businesses than most people would think.

By talking with a lawyer before formalizing your LLC, they will go over provisions like this and many more. Lawyers plan for the future when drawing up an LLC, and they make sure it can keep going regardless of any legal issues.

Divorce is only one of the many unfortunate examples of things that can unexpectedly end a business. But the thing that ends businesses the most is simply a lack of preparation. By hiring a lawyer, you’re one step closer to securing your business’s future.

Your Lawyer Will Explain What You’re Signing

Legal documents are so full of jargon and confusing sentences that they can look like another language. Most people can’t take the time to read privacy policies when they use an app on their phone. How can they be expected to understand the mountain of documents associated with starting a business?

Luckily, lawyers speak the obscure language found on legal documents. They know how to explain LLC forms in a way that makes sense to the people running it. That way, you’ll know exactly what you’re signing.

You won’t accidentally form your tech company as a manufacturer, or anything like that. You’ll avoid many needless mistakes with a lawyer than if you try to form an LLC on your own.

It’s Their Job To Ask The Tough Questions

One of the most overlooked benefits of hiring a lawyer is that they force you to confront what it’s like to run a business. The make sure you understand the reality of running a company by asking you tough questions. Beyond asking about what you’ll do with the business, they’ll want the nitty-gritty details.

That’s because there are different things to file for if you expect to grow quickly, or want to stay small. The lawyer needs to know if the LLC will be family-owned or not, and who will play which role if it is. They’ll need to know if you plan to hire union employees or not.

While all of this should already be answered in your business plan, sometimes it isn’t. By hiring a lawyer, you force yourself to answer these questions before they become an issue.

Hiring a Lawyer Establishes a Relationship if You Need One Later

One of the biggest advantages of hiring a lawyer comes down the line. Most businesses reach a point in their lifecycle where they will need to hire a lawyer. Sometimes you may want someone to look over a contract, or you may need to file a copyright claim on something.

If you hire a lawyer to form your LLC, you’ll be creating more than a company. You’ll also establish a professional relationship with someone who has a valuable skillset. As the person who formed your business, they’ll know it better than a random lawyer you might find online.

That means thorough, quicker, and more meticulous work for you when you need it. It’s always better to work with the people you know than to risk getting someone new. Especially when it comes to something as vital as legal work!

Lawyers Know How To Form An LLC, You Can Focus On Running It

By hiring a lawyer to file the actual forming documents, you’ll be able to pay attention to other things. Rather than spending hours sifting through documents on your own, you’ll be able to actually focus on building the business. That means you have more time to interview candidates, prepare marketing materials, and anything else.

That allows you to capitalize on the early excitement you may have for your new LLC. You won’t burn out by facing the reality of paperwork and legalese that comes with running a company. Instead, you can focus on what you want to do: making money, making a name for yourself, and changing the world.

Formal Company Structure Means More Productivity

Early on, companies may lack a formal structure between employees and managers. This will always come as a cost to your overall productivity as people get confused about their roles. But if you file as an LLC formally, you’ll have a definite organization style to refer to when people get confused.

LLCs have a clear owner, which means managers and employees will always understand who leads them in the end. The person who signs the documents will have the power to make dramatic changes in the company if it needs it. That sort of power helps people understand their role in the company and can boost productivity as a result.

Do You Need a Lawyer to Create an LLC?

While it’s true that South Carolina doesn’t legally require you to hire an attorney to form a Limited Liability Company (LLC), opting to go it alone can be a classic example of being penny wise and pound foolish. The initial filing of “Articles of Organization” with the South Carolina Secretary of State might seem straightforward, and indeed, you can do it yourself online or by mail, or even through various online services. However, the apparent simplicity of this initial step often masks a labyrinth of legal complexities and ongoing responsibilities that can have significant long-term implications for your business.

The notion that “not required” equates to “not beneficial” is a critical distinction when it comes to business formation. Setting up an LLC is more than just checking a box; it’s about laying a robust legal foundation for your entrepreneurial venture. Without a comprehensive understanding of the legal landscape, you risk making costly mistakes, exposing yourself to unnecessary liabilities, and hindering your business’s future growth.

The Deceptive Simplicity of DIY LLC Formation

Many aspiring business owners are drawn to the LLC structure because of its perceived ease of formation and the limited personal liability it offers. This protection means that, in most cases, your personal assets are shielded from business debts and lawsuits. However, achieving and maintaining this protection, along with navigating the myriad of other legal requirements, is where the expertise of a business formation lawyer becomes invaluable.

Consider the analogy of building a house. You might be able to pour the concrete slab yourself, but without an architect, structural engineer, and skilled contractors, you risk a shaky foundation, code violations, and ultimately, a house that crumbles under pressure. Similarly, while you can file the basic paperwork for an LLC, a lawyer acts as your architect and engineer, ensuring your business’s legal framework is sound, compliant, and optimized for your specific goals.

Key Benefits of Partnering with a Business Formation Lawyer in Greenville, SC

Engaging a knowledgeable business formation lawyer in Greenville, SC, offers a multitude of advantages that extend far beyond simply filing a document.

1. Choosing the Right Business Structure for Your Vision

An LLC is a popular choice for good reason, offering a blend of liability protection and flexible taxation. However, it’s not a one-size-fits-all solution. A lawyer will delve deep into your unique business goals, industry specifics, financial situation, and long-term aspirations. They’ll analyze whether a sole proprietorship, partnership, S-corporation, or C-corporation might be a more advantageous legal structure for you.

This analysis goes beyond just liability; it encompasses critical tax implications. For example, while an LLC defaults to “pass-through taxation” (meaning profits and losses are passed through to the owners’ personal income without being taxed at the business level), a lawyer can advise on the potential benefits of electing S-corp status, which can sometimes lead to self-employment tax savings. They’ll clearly explain the pros and cons of each structure, empowering you to make an informed decision that aligns with your financial strategy. Without this expert guidance, you might inadvertently choose a structure that results in higher taxes or limits your growth potential.

2. Drafting a Robust and Tailored Operating Agreement

If there’s one document that stands as the bedrock of your LLC, especially if you have multiple members, it’s the Operating Agreement. While South Carolina doesn’t legally mandate an operating agreement, failing to have one is akin to navigating uncharted waters without a compass. This document serves as the internal governing roadmap for your LLC, preventing future disputes and outlining how your business will operate.

A lawyer won’t just provide a generic template; they’ll draft a custom operating agreement meticulously tailored to your specific business needs and member relationships. This comprehensive document will precisely outline:

  • Ownership Percentages and Capital Contributions: Clearly defining who owns what and how much each member has invested.
  • Member Roles, Responsibilities, and Management Structure: Establishing whether the LLC will be member-managed (where all members participate in daily operations) or manager-managed (where specific individuals are designated to run the business), and detailing individual duties.
  • Voting Rights and Decision-Making Processes: Setting clear procedures for how major business decisions will be made, including voting thresholds and methods.
  • Procedures for Admitting New Members or Exiting Existing Ones: Establishing fair and transparent processes for welcoming new partners or handling the departure of current ones, including buy-sell provisions.
  • Profit and Loss Distribution: Detailing how profits and losses will be allocated among members, which can be crucial for tax purposes and member satisfaction.
  • Dispute Resolution Mechanisms: Outlining a clear pathway for resolving disagreements among members, potentially avoiding costly litigation down the line.
  • Provisions for Dissolution of the LLC: Planning for the orderly winding down of the business, should that ever become necessary, including asset distribution.

A well-drafted operating agreement is a powerful preventative measure, safeguarding your business and personal relationships from potential conflicts and financial risks among members. It provides clarity and a framework for addressing unforeseen circumstances.

3. Ensuring Comprehensive Compliance and Avoiding Costly Errors

Business formation involves far more than merely filing the Articles of Organization. There’s a labyrinth of local, state, and federal regulations that must be adhered to. A lawyer is your expert guide through this regulatory maze, ensuring you comply with all requirements and, more importantly, helping you avoid costly penalties or future legal challenges. This includes:

  • Verifying Business Name Uniqueness and Availability: Ensuring your chosen business name is unique and available for registration in South Carolina, preventing potential trademark or legal conflicts.
  • Obtaining an Employer Identification Number (EIN) from the IRS: This is essentially your business’s social security number, required for opening bank accounts, hiring employees, and filing taxes.
  • Advising on Necessary Business Licenses and Permits: Every industry and sometimes even every location has specific licensing requirements. A lawyer can identify and guide you through obtaining all necessary local (Greenville-specific), state, and federal licenses and permits relevant to your industry. Forgetting a crucial permit can lead to fines, operational halts, or even the forced closure of your business.
  • Understanding Ongoing Reporting Obligations and Annual Fees: LLCs often have annual reporting requirements and fees that, if missed, can lead to the administrative dissolution of your entity, jeopardizing your limited liability protection. A lawyer will make sure you’re aware of these ongoing obligations.

4. Protecting Personal Liability: Piercing the Corporate Veil

One of the primary reasons entrepreneurs choose an LLC is for the limited liability protection it offers, shielding personal assets from business debts and lawsuits. However, this protection is not absolute. Situations can arise where this protection can be “pierced,” meaning a court could hold you personally liable for business obligations. This often occurs when business and personal finances are commingled, or when the LLC is not treated as a separate legal entity.

A lawyer will provide crucial advice on best practices to maintain the integrity of your LLC and ensure your personal assets remain protected. This includes guidance on maintaining separate bank accounts, proper record-keeping, and adhering to all corporate formalities.

5. Registered Agent Services: Ensuring You Don’t Miss a Beat

Every South Carolina LLC is legally required to have a registered agent with a physical street address in the state. This individual or entity is responsible for receiving official legal documents, such as service of process (summons and complaints), as well as important tax and government notices.

Some law firms offer registered agent services as part of their business formation package. This ensures that you never miss a critical legal or tax notice, which could otherwise lead to default judgments, penalties, or other detrimental consequences for your business. Relying on a professional registered agent service adds another layer of compliance and peace of mind.

6. Addressing Complexities: When Your Business Isn’t Simple

If your LLC involves multiple partners, complex asset structures, unique ownership arrangements, or if you anticipate seeking institutional financing (like venture capital or bank loans), a lawyer’s expertise becomes not just beneficial, but indispensable. These scenarios introduce layers of complexity that generic online services or DIY approaches simply cannot address.

A seasoned business attorney can anticipate potential issues, mitigate risks, and draft agreements that precisely safeguard your interests and the interests of your co-founders. They can navigate intricate negotiations, structure equity distributions, and ensure your business is attractive and legally sound for future investors.

7. Long-Term Planning and Proactive Risk Management

The relationship with a business attorney doesn’t end with the formation of your LLC. A good business lawyer serves as a valuable, long-term resource for your ongoing legal needs, offering proactive advice that can save you significant time, money, and headaches down the road. They can advise on:

  • Intellectual Property Protection: Guiding you through the process of securing trademarks for your brand name and logo, and copyrights for original works, protecting your creative assets and competitive edge.
  • Drafting Employment Contracts and Policies: Ensuring compliance with labor laws, clearly defining employee-employer relationships, and establishing fair workplace policies.
  • Contract Negotiations: Reviewing, drafting, and negotiating various business contracts, such as vendor agreements, client contracts, and partnership agreements, to protect your interests.
  • Business Succession Planning: Helping you strategize for the future of your business, whether it involves selling the company, passing it down to family, or other transition plans.
  • Mitigating Legal Risks: Proactively identifying potential legal pitfalls and advising on strategies to minimize exposure, thereby enhancing your business’s overall resilience.

An Investment, Not an Expense

While the state of South Carolina doesn’t legally require a lawyer to form an LLC, viewing legal assistance as an unnecessary expense is a common misconception. In reality, engaging a business formation lawyer in Greenville, SC, is an investment in the long-term health, stability, and success of your venture. They provide invaluable guidance, foresight, and protection that can prevent costly mistakes, ensure compliance, and allow you to focus on what you do best: running and growing your business.

Attempting to navigate the complexities of business formation without professional legal guidance can expose you to unforeseen liabilities, legal disputes, and operational inefficiencies that far outweigh the initial cost of attorney fees. By entrusting your LLC formation to a Greenville SC business formation lawyer, you’re not just getting a legal document filed; you’re building a solid, compliant, and secure foundation for your entrepreneurial dreams.

Hiring a Lawyer Will Set You Up Quickly, So You Can Get Right to Business

Knowing how to form an LLC effectively can take years of work and practice. Setting up a company for success means understanding it intimately, as well as the people running it. It means knowing where problems may lie and confronting them immediately.

It also means navigating a bureaucratic maze of legalese and jargon. Most people don’t have the time or willpower to do that. Entrepreneurs just want to get to work, not sift through paperwork.

That’s why hiring a lawyer to form your LLC places you at an advantage.

So contact us, and we will ensure that you’re set up with an LLC that lets you focus on what you do best: running a business. We look forward to hearing from you!

London Lawyers defend billings

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