Intellectual property (IP) gives your company most of its value, which is often underestimated by business owners. Protecting your IP assets should be top priority so that your business is not at risk. There are a lot of assumptions made about IP, which can cause your business problems if not taken care of the right way. Check out these myths and make sure you are not following them.
If you want to help pay for your adult child's college tuition, you can do so and deduct it as a business expense. It will continue to be harder to pay for college with costs guaranteed to rise over time, but you may find a little relief after discovering how to properly maximize your tax benefits and help your children or grandchildren at the same time. Here's some information to get you started, along with a checklist to make sure your adult child is eligible.
Protecting client data is not only good practice but also a legal requirement. To make your clients feel safe and in good hands, it is your responsibility to keep every piece of information, from names and addresses to Social Security, secure in every way. It can be easy to think you are protected just through your computer security system, but read these tips to find out the many other steps you should consider taking in order to protect your sensitive client data.
It's no secret that the Internet has definitely made our lives more efficient in getting stuff done. However, it has also caused our business transactions to become little more complicated. In fact, there are a number ways we underestimate the power of electronic communication, like email. For instance, if all the necessary elements of an agreement are present, an email could actually form a binding contract between the sender and recipient. Check out this cautionary taler to learn more.
Whether your business is big or small, it will eventually face some problems that can cost you a significant sum if you do not have the right insurance in place. In order to protect yourself, you need to know the type of risks your business may face so that you can find the best insurance policy that will cover those risks. Check out these common types of insurance that every business should have, and see how they can significantly help your business.
If you're in the unfortunate position to consider filing for bankruptcy, there are a few things to keep in mind before choosing what would be right for you and your business. It's important to know all the options before making any decisions. Check out this quick guide to see how each one differs, and which one would be most useful for your situation.
Any business, no matter what size, needs a proper succession plan for the future in order to be successful from generation to generation. A bad plan, or not having a plan at all can ruin all your hard work, as it did for the Stroh family. Stroh's beer was one of America's most impressive family fortunes and due to poor business decisions and bad investments, the massive beer empire disappeared in just two decades. Read here how the family could have prevented the downfall.
People often assume a Will is everything they'll need to take care of their business when something bad happens to them, but that can actually cause more problems and cost for their family than necessary. To ensure your business is passed on to your family exactly the way you want, you need to have a comprehensive plan that takes your life and business into account. Now check out these 4 key elements every business owner must have in their plan.
Starting a new business can be extremely difficult without motivation and the right support system. In fact, success for your business depends greatly on your confidence which is increased with the support of your family and friends. It is important that you make it clear to yourself as well as others how serious you are so they understand what your business means to you. Here are some tips to help you get started.
You may never have guessed that your legal and financial decisions can actually affect your marketing strategies. Well they can. Marketing your business is not just about how you advertise on social media - it comes up at every touchpoint you have with the client (i.e., in your contracts, emails, website, and over the phone). Having an efficient plan that gently covers all bases is the key.