There are many reasons you may decide to sell a business. Maybe it is time to retire, you want to move on to the next big idea or you simply want to spend more time with your family. Selling a business can give you the financial push you need to move forward with these lifestyle changes.
However, you must be careful as you prepare to sell your company. Here are some things you may need to know about selling a business.
In a constantly evolving society, trade secrets are increasingly harder to protect. Businesses rely on trade secrets for maintaining a competitive edge in their industries. However, advancements in digital technology put intellectual property at risk. Trade secret litigation is on the rise, and unfortunately, oftentimes legal action is not quick enough. The result may be disastrous for companies.
Military members develop crucial skills during their time in service including responsibility, determination and leadership. Many military-based skills easily transfer into civilian life as veterans pursue academic studies, employment or personal opportunities.
The combination of skills preached by the military actually create savvy business techniques, so it's not a surprise that more veterans are putting their training into use through personal businesses and franchises.
There’s no shortage of things to do when forming a business. Choosing a location or office, drafting a business plan, picking a business model and securing financing are the big ones to get started, but there are infinite small steps throughout the process that will ultimately guide how successful a business becomes.
Which employees are hired and how they behave is vital to any brand, whether in customer service, business-to-business operations or manufacturing. Employee skills are paramount, but so is their integrity. One bad apple can be costly and it’s up to management to find ways to reduce and respond to unethical behavior.
Injuries in the workplace can be costly for your business. In the U.S., it’s estimated that employers pay more than $1 billion per week in direct, non-fatal workers’ compensation costs. That’s an alarming figure, and it’s enough to make every business owner ponder how to reduce such an expense.
As it turns out, employers who go above and beyond to exceed safety standards in the workplace could see an increase in profits. By reducing injuries and illnesses, and the workers’ compensation payments, medical expenses and lost productivity that can come along with them, you might see a healthier bottom line.
Receiving a notice of an inspection from the Department of Labor (DOL) can be intimidating for a small business. These audits typically arise after a complaint is made by an employee, often due to a wage dispute.
These audits will usually come with little advanced notice, meaning your business may have to quickly scramble to compile proper documentation needed to defend yourself. This makes it critical that you act quickly. Prompt action on your part will better ensure you are able to achieve a more favorable outcome once the audit has been concluded.
A well-developed compliance plan or program can not only demonstrate any entity's commitment to employing thoroughly qualified staff and executives, but also foster early detection and reporting of problems such as fraud, abuse, or medical error, as well as promote effective communication through all administration and staff.
With the already narrow margins many businesses face, and the fact that civil and criminal liability is a constant threat, entities need to maximize any receivables and work to ensure safe harbor from, penalties, lawsuits or any other threats that could jeopardize their business or personnel. Along those lines, creating and maintain required documentation is vital to the compliance obligations (and financial well-being) of a health care company.
Are you trying to grow your business? Do you have a strategy in place to protect the ideas that make your business unique?
You and your business are successful for so many reasons. You provide a unique or superior product, or efficient service to your customers, and for that reason, clients consistently come back to you. Your business premise may be simple, and you may assume that developing and protecting Intellectual Property (IP) is of no use or does not provide any additional value to the company.
Contrary to popular belief, IP is a necessity for any thriving business these days. IP encompasses a variety of business and individual protections including Patents, Trademarks, Copyrights, and Trade Secrets. Regardless of the type of business, proper branding and protection of valuable ideas and proprietary information is imperative to survival and long term growth. All businesses possess some form of IP, and business owners need to be equipped with the requisite tools for protection.
DALLAS, tx. August, 2017: CLARK FIRM PLLC announced today that it has entered into an of-counsel agreement with intellectual property law firm, Bold IP, PLLC (www.boldip.com), to provide a complete range of intellectual property legal services to its clients. As of-counsel, Bold IP, PLLC law firm, through its skilled patent attorneys and agents, will provide legal representation before the United States Patent and Trademark Office, including the preparation, procurement, and maintenance of patents and trademarks for the clients of CLARK FIRM PLLC, which will continue to provide to its clients all other legal services, including business, commercial, corporate transactions and documentation, health care, labor and employment and civil litigation services. Through this alliance, CLARK FIRM PLLC is adding to its existing practice intellectual property legal services, and specifically, patent law and trademark law related legal services, which will be provided by the accomplished attorneys of BOLD IP, PLLC.
The Stark Law, named after U.S. Congressman Pete Stark, is an amendment to the Social Security Act, which governs referrals of Medicare patients to facilities where the physician has a direct or indirect financial interest. These are known as self-referrals.
Violations of Physician Self-Referral (Stark) and Anti-Kickback laws may be difficult to detect, but can result in major penalties, and lead to both civil and criminal investigations and litigation. It is imperative to avoid even the appearance of impropriety. Although there are some exceptions, under Stark laws, a physician, or other health care provider such as a dentist, optometrist, or even a chiropractor may not refer patients to receive designated health care services that the provider or the immediate family member of the physician has a financial interest . A designated service may include clinical lab services, physical therapy, and home health services, but physician service is not included under this definition . Financial relationships include any ownership interest, compensation agreements, or even investment interests. Violations are evaluated under a strict liability standard, therefore lack of intent will not shelter a physician or entity from Stark liability.
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Clark Firm PLLC
5445 La Sierra Dr.
#415
Dallas,
TX
75231
Phone:
469-513-1711
Fax:
214-853-5458
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