My Employee Shared Our Trade Secrets. Now What? You’re only as good as what sets you apart from others in your field. That’s what identifies Apple from Microsoft, Google from Yahoo!, Coke from Pepsi, and Nike from Adidas. It’s the intellectual property (IP) and the people who create it that holds real value for a company. And this is exactly why Nike is suing Adidas for $10 million in damages. Your employees are an incredible asset… that is, until they become a threatening liability. Let’s set the stage for the Nike/Adidas case: the lawsuit (which was filed in Oregon where Adidas has its U.S. headquarters) alleges that some of its biggest designers, Denis Dekovic, Marc Dolce and Mark Miner, began to build a blueprint to replicate Nike’s famous Innovation Kitchen while still employed by Nike. In the Portland Business Journal, the designers submitted a rebuttal through their law firm and commented, “We find Nike’s allegations hurtful because they are either false or are misleading half-truths. About Author Christina Morales Comments
Crowdfunding Laws: Will They Help or Hurt My Business? It seems like new buzzwords pop up all the time and the one that I am hearing a lot about lately is “crowdfunding.” I know it’s been around for several years, but it seems to be picking up speed and becoming a readily accepted method of fundraising for both nonprofit and entrepreneurial ventures. As this new virtual tool continues to gain popularity, laws have been passed to regulate these financial exchanges. If you are crowdfunding or are just curious about garnering additional funds for your small business, there are a few guidelines that you should be aware of. Let’s get some of the basics out of the way first. “The second and more recent model is investment crowdfunding, where businesses seeking capital sell ownership stakes online in the form of equity or debt. For all intents and purposes, we’re going to be talking about the second model as applied to small businesses. This past June, the Crowdfunding and Securities Exemption Act (CASE) was passed in Wisconsin. Comments comments
Non-Provisional Patent - Learn More on UpCounsel What is a Non-Provisional Patent? A non-provisional patent is a standard patent that protects an invention for 14-20 years within the United States, depending on the type of patent. A non-provisional patent requires much more detail compared to a provisional patent. You also need to include a description that would allow another person of ordinary skill to recreate your invention, unlike in a provisional patent. An invention’s filing date is established by a non-provisional patent. When an inventor files a non-provisional patent application, the official examination process begins with the USPTO. The challenge in creating a non-provisional patent application is all in drafting the specifications. Need help with filing a non-provisional patent? If so, you can easily find and connect with a quality patent attorney on Upcounsel who can help answer your questions today!
S Corporation - What is an S Corp? Learn More about an S Corporation below An S Corporation, commonly referred to as an "S Corp" is simply a corporation that has filed a document with the IRS to become a special type of corporation. The main difference deals with taxation issues, but additionally an S Corp only allows a specific amount of stock to be distributed and all holders must be residents of the United States. Shareholders rights are much simpler here and double-taxation that occurs with a C corporation’s income is eliminated. Advantages of an S Corp: An S corporation has a single level of taxation, where a C corporation is taxed on its earnings, and its shareholders pay a second tax when corporate earnings are distributed to them via dividends Shareholders of an S corporation may deduct their share of the corporation’s net operating loss on their individual tax returns. Disadvantages of an S Corp:
Long Island, NY Trademark Attorneys Our experienced Long Island trademark attorneys & lawyers represent individuals and businesses with everything they need to secure and protect their trademarks. Our attorneys can help individuals with everything from trademark clearance searches to determine whether the desired mark is available for adoption, use, and registration. By reviewing the search reports thoroughly, they can conclusively determine the extent to which a mark is already being used and the potential success of filing a trademark. Trademark licensing can be complex, but our trademark attorneys have experience drafting agreements on behalf of both licensees and trademark owners - thus allowing you to capitalize on your valuable intellectual property.
Equity Incentive Plan - Free Document Download Equity Incentive Plan 1. Purposes of the Plan. The purposes of the [Current Year] Equity Incentive Plan are to attract and retain the best available personnel for positions of substantial responsibility, to provide additional incentive to Employees, Directors and Consultants and to promote the success of the Company’s business. Options granted under the Plan may be Incentive Stock Options or Nonstatutory Stock Options, as determined by the Administrator at the time of grant. 2. 2.1. 2.1.1. 2.1.2. 2.1.3. 2.1.3.1. 2.1.3.2. 2.1.3.3. 2.2. 2.3. 2.4. 2.5. 2.6. 2.7. 2.8. 2.9. 2.10. 2.11. 2.12. 2.13. 2.14. 2.15. 2.15.1. 2.15.2. 2.15.3. 2.16. 2.17. 2.18. 2.19. 2.20. 2.21. 2.22. 2.23. 2.24. 2.25. 2.26. 2.27. 2.28. 2.29. 2.30. 2.31. 2.32. 2.33. 2.34. 3. 4. 4.1. 4.2. 4.3. 4.3.1. to determine the Fair Market Value; 4.3.2. to select the Service Providers to whom the Awards may from time to time be granted hereunder; 4.3.4. to approve forms of agreement for use under the Plan; 4.4. 4.5. 5. 6. 6.1. 6.2.
What is a DMCA Takedown Notice? Copyright laws and the Internet seem almost at odds. After all, how can anyone monitor the over half a billion (yes, billion) websites that exist? Moreover, if your original work does end up on another’s website, how do you file suit? The last two questions can be answered by explaining the function of a DMCA Takedown Notice. Now that probably doesn’t apply to you, but that is the first function of the DMCA. 1. 2. 3. 4. 5. 6. If you’re planning to file a DMCA Takedown Notice, you should first take screenshots of the material that has been illegally used then contact your Internet lawyer to ensure that you follow the procedures carefully. If you’ve been served a DMCA Takedown Notice you should request a full copy to see what material is under fire and the web address that it is located under. Regardless of whether you are on the giving or receiving side of a takedown notice, you should hire a copyright attorney to represent you. About Author Christina Morales Comments comments
C Corporation - What is a C Corp? Learn More about an C Corporation below Allows for unlimited amount of shareholders and can be owned by other corporations such as LLC’s or even trusts. C-Corps have more flexibility as well with shareholder rights and ownership, but typically face tougher tax implications because of this. This has to deal with a corporation’s ability to offer ownership shares in the business through stock offerings when a corporation goes public through an IPO (Initial Public Offering). Advantages of a C Corp: The primary advantage of starting a C corporation is the ability to have as many owners as you want Possibility of double-taxation, but is given more tax-deductible business expenses There is limited liability for directors, officers, shareholders and employees. Disadvantages of a C Corp: The main disadvantage of a C corporation is the double taxation feature.
Corporations - Learn about types of Corporations Learn more about the types of Corporations below: Corporation A corporation is an independent legal entity distinct from its owners. When most people refer to a corporation, they actually mean a “C Corporation,” but you can also form a special type of corporation called an “S Corporation.” Both types of corporations have more in common than in opposition. A corporation is set-up to have shareholders own the business in a way that allows for limited liability to only the amount of money they put into the corporation. Both have unique features that we have displayed below: C Corporation (C Corps) C Corps allow for an unlimited amount of shareholders and can be owned by other corporations such as LLC’s or even trusts. C Corps have more flexibility as well with shareholder rights and ownership, but typically face tougher tax implications because of this. S Corporation (S Corps) An S Corp is simply a corporation that has filed a document with the IRS to become a special type of corporation.
upcounsel A Guide on How to Incorporate a Business There are several steps required to legally incorporate a business. The first step is to file a document called “articles of incorporation.” This document is filed with the corporations division of their state department and the cost will vary depending on your individual state of incorporation. Next, you will need: the name of your corporation, the address, the registered agent and possibly the name of the corporation’s directors. Additionally, you will need to state the purpose of the intended corporation as well as the amount and types of capital stock your corporation will be authorized to issue. There are a few requirements that vary when incorporating an S Corporation, but it is relatively the same process as incorporating a C Corporation - just with more finite rules that are tailored to that specific corporation. Need help incorporating a business?