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  If looking to fund a business, there are quite a few options available. No matter what the economy is like (good or bad), funding a business is constantly a concern for entrepreneurs. Some ways to fund a business are crowdfunding, bank loans, business plan competitions, business incubators, or investors. (1) Crowdfunding needs a website and on it, you detail your idea for a business or project and request others to invest in it. Instead of paying back money, you pay them back with “perks” from your business. (2) Banks are still lending money to small business, despite the rumors that have sparked. So why not take advantage of the money that banks are willing to lend. Contact your local banker and request assistance with developing a loan submission package that meets the lender's specifications. Also, be ready to check with more than one bank. (3) Enter into a business plan competition. Many competitions award cash and prizes for the teams that win which could be used to start yo...

  Recent changes to the Florida’s Power of Attorney Act go into effect October 1, 2011 and to understand the scope of those changes, we should start with the basics - - the definitions. We will now refer to the grantor of authority under the Power of Attorney as the “PRINCIPAL.” The recipient of the grant of authority (formerly an “Attorney-in -Fact”) is now referred to as an “”AGENT.” “DURABLE” (as used in connection with Durable Power of Attorney) refers to a Power of Attorney that “is not terminated by the Principal’s incapacity.” [Florida Statute 709.2102(2)]. So, clearly a key question is - - What is “INCOMPACITY?” This is defined in the statute as “the inability of an individual to take the actions necessary to obtain, administer, and dispose of real or personal property, intangible property, business property, benefits and income.” Interestingly enough, the term “POWER OF ATTORNEY” is defined in the Statute (as a writing by which a Principal grants authority to the Agent) bu...

  In this final entry of our series dedicated to international protection and enforcement of intellectual property, we will discuss how one secures copyright protection on an international level. Keep in mind, most countries do not require copyright registration in order to enjoy protection. However, most countries do require registration (particularly the United States) if you wish to bring an action for infringement. "International Copyrights" do not actually exist, but most countries offer protection to foreign works under certain conditions. Those conditions have been simplified as a result of several international copyright treaties and conventions. If the country in which recognition or enforcement is sought is a party to said convention or treaty, then the work may be protected through compliance with the terms of the convention/treaty. The United States has copyright relationships with only the countries who are a party to these international copyright agreements. It ...

  If you are looking into a second career or just starting out, buying into a Franchise can provide a "jumpstart" to your business life - the key is to look critically and carefully at the Franchise offerings and their willingness and ability to support and protect your local operation. An example of the best - The Matco Tools Franchise was named best franchise in the “Tools Distribution Category” and 19th in Entrepreneur’s 32nd Annual Franchise 500®. They have even been named the best tool franchise the last four out of five years. Franchisors are judged and measured by certain criteria, including financial strength and stability, development rate, size of the system, number of years the company has been in business, the length of time it’s been franchising, startup costs, litigation, percentage of terminations and whether the company provides financing. Companies that achieve the highest scores join the prestigious Franchise 500. This is an example of a positive franchise m...

  Recent changes to the Florida’s Power of Attorney Act go into effect October 1, 2011 and to understand the scope of those changes, we should start with the basics - - the definitions. We will now refer to the grantor of authority under the Power of Attorney as the “PRINCIPAL.” The recipient of the grant of authority (formerly an “Attorney-in -Fact”) is now referred to as an “”AGENT.” “DURABLE” (as used in connection with Durable Power of Attorney) refers to a Power of Attorney that “is not terminated by the Principal’s incapacity.” [Florida Statute 709.2102(2)]. So, clearly a key question is - - What is “INCOMPACITY?” This is defined in the statute as “the inability of an individual to take the actions necessary to obtain, administer, and dispose of real or personal property, intangible property, business property, benefits and income.” Interestingly enough, the term “POWER OF ATTORNEY” is defined in the Statute (as a writing by which a Principal grants authority to the Agent) bu...

  The shareholders in a Florida professional association owe the same duties to each other that shareholders of a Florida corporation owe. That is the Duty of Care and Duty of Loyalty. However, the shareholders of a Florida professional association may be held to a higher standard, depending on the type of professional association. To refresh your memory, the Duty of Care is a duty to adhere to certain standards of care when acting on behalf of a business or when making business decisions. Child custody lawyer . One cannot make a decision that would knowingly cause harm to the business or that could reasonably cause harm to the business. The same standards are true when it comes to making decisions that affect others and the public. A business may not endeavor in criminal acts and so the shareholders of a professional association must make sure their decisions are legal. The Duty of Loyalty is a duty to make sure that you are fair with the professional association. The Duty ...

  In a previous blog, I discussed one of the benefits of being a Florida professional association as being that each of the shareholders in a Florida professional association are not personally liable for the malpractice of the other owners of the professional association. Intellectual property rights . Although it is by far the biggest benefit to having a Florida professional association, that is not the only benefit of being a professional association. The benefits and consequences associated with a Florida professional association are as follows: Tax flexibility. A professional association can be taxed as a C corporation or an S corporation. If a C corporation, the business can take higher deductions for health insurance and other medical expenses whereas an S corporation will save the owners social security and medicare taxes. Additional filing requirements. Unlike a typical Florida corporation, a Florida professional association requires that a specific business purpose ...

  Well the economy is starting to turn for the better and jobs are starting to open up. You may begin to think about changing jobs and possibly moving to a competing firm. However, if you signed any contract or employment agreement when you first joined your current employer, it is very important that you have an attorney review those documents before you give your current employer notice of your leaving. Below are several very common clauses that are found in employment agreements that need to be reviewed. Marital agreements . Failure to do everything correctly could cause you to have no job at all and in a legal battle with your former employer. One of the first clauses to look for is the confidentiality clause. A confidentiality clause states that you, as the employee, have been given confidential information in order to perform your job duties and that upon your leaving the company, you must give all that information back. Further, you may not use any of the information ...

 I recently had a client contact me regarding their website materials being stolen and used by someone else. In reviewing the situation, I found that the company was copying pictures and written materials directly from my client’s website. When I contacted the company, they was under the assumption that you only got a copyright on published materials, such as books. Of course that is wrong. So what exactly is a copyright? It is a right that gives the owner of creative works the ability to prevent others from using those creative works without prior authorization. Marital agreements . A copyright exists the very moment a creative work becomes tangible – can be seen, felt or heard. The creator of the work owns the copyright. If the copyright is infringed upon, the owner may seek monetary damages, seek an injunction and could also recover their attorney fees. So when it comes to your website, it is always best to put a copyright notice at the bottom of the webpage, but it is ...

  What exactly is a “partnership” under the laws of the State of Florida? As a starting point, a PARTNERSHIP may arise when two or more individuals become associated in a common venture for the purpose of making money. This association of individuals would NOT be a partnership if appropriate documents are signed which provide that the joint owners instead intended to create a different business structure – like a Corporation or a Limited Liability Corporation (LLC). Basically, in the absence of any documentation to the contrary, two or more associated individuals may be considered partners in the eyes of the law. Lawyer office in Pennsylvania . Since the individuals are considered Partners in the business venture, they each have the ability to legally bind the business venture and the other Partner (or Partners). Since the individuals are considered Partners in the business venture, they each have the ability to subject the other Partner (or Partners) to liability for their bu...

  As I previously wrote about, a Florida professional association is simply a special type of Florida corporation. So as with any corporation, you must file Articles of Incorporation with the Secretary of State’s office to incorporate. However, with a professional corporation, you cannot simply state that the business purpose is any lawful business. You must specify the services to be performed by the professional association. This sets a professional association apart from your typical corporation. After your Articles of Incorporation are filed, you must then apply for an Employer Identification Number with the IRS. You will need this number and your Articles of Incorporation to open up a bank account for the business. Lawyer firm in Pennsylvania . You may also need to obtain a state employer identification number, depending on the services that will be provided by the professional association. Finally, you will need to obtain a business license for every county where you i...

 In a previous blog, I discussed one of the benefits of being a Florida professional association as being that each of the shareholders in a Florida professional association are not personally liable for the malpractice of the other owners of the professional association. Although it is by far the biggest benefit to having a Florida professional association, that is not the only benefit of being a professional association. The benefits and consequences associated with a Florida professional association are as follows: Tax flexibility. A professional association can be taxed as a C corporation or an S corporation. If a C corporation, the business can take higher deductions for health insurance and other medical expenses whereas an S corporation will save the owners social security and medicare taxes. Additional filing requirements. Lawyer firm in Pennsylvania . Unlike a typical Florida corporation, a Florida professional association requires that a specific business purpose be...

  In a previous blog, I discussed one of the benefits of being a Florida professional association as being that each of the shareholders in a Florida professional association are not personally liable for the malpractice of the other owners of the professional association. Lawyer firm in Texas . Although it is by far the biggest benefit to having a Florida professional association, that is not the only benefit of being a professional association. The benefits and consequences associated with a Florida professional association are as follows: Tax flexibility. A professional association can be taxed as a C corporation or an S corporation. If a C corporation, the business can take higher deductions for health insurance and other medical expenses whereas an S corporation will save the owners social security and medicare taxes. Additional filing requirements. Unlike a typical Florida corporation, a Florida professional association requires that a specific business purpose be inclu...

  These days, many small Florida businesses are running very thin to be able to keep the doors open and paychecks flowing. Many small business owners that I meet with do not have a tax professional involved at all and prepare their own tax returns to save money. However, as we all know, doing your own taxes is not always easy. Sometimes the tax professional pays for themselves in the amount of taxes they save you (plus the cost of not having to worry about it yourself). Some of you though will continue to prepare and file your own taxes. Lawyer office in Pennsylvania .  For those that do, below are some tax tips for you to help save a little money: Legal, tax, and IT fees: The fees you pay to help set up a business and keep it running are usually fully deductible as business expenses. However, if the expense could produce income in the future, then it must be spread over a period of years. Marketing expenses: any money you spend to get your name out there for marketin...

  It is that time of year again. Any business that was created in Florida or is registered as a foreign entity in Florida must file its annual report with the Secretary of State here in Florida. The fee depends on the type of business you have. The purpose of the annual report is to keep your information up to date with the Secretary of State. The type of information that must be provided is the business name, EIN of the business, the mailing address and principal place of business address (may be different than the mailing address), the registered agent of the business and either the officers of the business or the Board of Directors of the business. Note that the owners of the business do not need to be listed. Lawyer office in Pennsylvania . This allows the owners of the business to remain unknown. It is important to file your annual report now before May 1st. On May 1st, the filing fee increases by $400 for all business entities. Further, if you do not file your annual r...

  “New Rules” applicable to a Florida Power of Attorney are effective on October 1, 2011 - - so what happens to Powers of Attorney executed BEFORE October 1, 2011? Florida Statute 709.2106 states that the older Power of Attorney will be effective if its execution complied with Florida Laws at the time of execution. If the Power of Attorney was executed in another State prior to October 1, 2011, then it may be considered to be valid within Florida if the document was executed in compliance with the requirements of the other state - - However, there could be some additional cost associated with the use of such a ”foreign” Power of Attorney. Lawyer ofice in Pennsylvania . Anyone requested to act under the authority of the Power of Attorney’s designated Agent may require a formal Opinion of Counsel as to “any matter of law concerning the Power of Attorney,” and the Opinion Letter will be provided “at the principal’s expense.” There may be further developments as to the scope and compl...

 Well the economy is starting to turn for the better and jobs are starting to open up. You may begin to think about changing jobs and possibly moving to a competing firm. However, if you signed any contract or employment agreement when you first joined your current employer, it is very important that you have an attorney review those documents before you give your current employer notice of your leaving. Below are several very common clauses that are found in employment agreements that need to be reviewed. Failure to do everything correctly could cause you to have no job at all and in a legal battle with your former employer. One of the first clauses to look for is the confidentiality clause. A confidentiality clause states that you, as the employee, have been given confidential information in order to perform your job duties and that upon your leaving the company, you must give all that information back. Lawyer office in Pennsylvania . Further, you may not use any of the inf...