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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 ...