Philadelphia Business Lawyer Sarah E. Holmes
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I Got An Office Action on My Trademark Application - Now What?

10/27/2017

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Ah, the dreaded Office Action, every trademark applicant's worst nightmare (that might actually be an opposition, but I digress).  What does it mean? What can be done about it?

Trademark applications have to meet certain requirements or they will be refused registration by USPTO.  Many times, if counsel is engaged to prepare the trademark application, a number of these refusals can be avoided. 

Once an Office Action has issued, it may be difficult to overcome because many modifications are not allowed after an application has been submitted.

"Likelihood of confusion" is a common reason for an Office Action.  This means USPTO has done their own search of already registered marks and found something they think your mark is too similar to.

It's important to engage legal counsel once you have an Office Action.  We may be able to help you, or at least try to craft a response that may help get your mark registered. 

If you've been issued an Office Action, please fill out the form below and we'll evaluate your issue.

    Have you received an Office Action? Give us some quick details and we'll be in touch.

Submit
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How to Buy An Existing Business

10/23/2017

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A lot of people want to be business owners, but they don't want to go through all of the hassle of a start-up.  They'd like to buy an existing business that's already proven and turn key.  In that instance, what are your options for buying a business?  In this video, I discuss starting your own business, buying an existing business or buying a franchise. 
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Trademark Symbols

10/22/2017

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People always ask when, why and how they can use different trademark symbols.  In this post, we'll review the different trademark symbols and their use.

First, as soon as one uses a name or logo, common law trademark rights kick in, and "TM" for goods or "SM" in the event of services can be used in connection with a name or logo.  If you haven't done your homework, using "TM" or "SM" is not going to ward off potential claims of infringement if someone else happens to be using your name or tagline, but it's at least notification to those you do business with that you intend to claim trademark rights. 

if you've submitted a trademark registration application to USPTO and it's been approved and gone on to registration, you are allowed to now use the R in the circle symbol as shown above.  This symbol means that the mark has actually been registered.  Federally registered marks carry strong rights and remedies in the event of infringement. 

If you have questions about a trademark or submitting a trademark application, book a call with us here.




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Where to Get Money to Start A Business

10/18/2017

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So many people want to start a business, but are afraid of how much it might cost. Make no mistake, you can't start a business without any money.  That being said, there are some businesses that can be started with very little money and in this video, I talk about typical sources of where people get money to start a business.  I'd make sure to have a thorough business plan in place, so you know exactly what funding you need.
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How to Get Out of a Business Partnership

10/17/2017

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Just as I get a lot of questions about setting up a business partnership, I always get a ton of questions about getting OUT of a business partnership.  Unless business owners have done the right work on the front end, such as setting up a proper Operating Agreement and Buy Sell Agreement, partners may find it more difficult than they anticipated to get out of a bad relationship.  In the video below, find out more about getting out of a bad business partnership.
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How to Set Up A Partnership

10/16/2017

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I get questions about forming a partnership all the time.  Even if the legal structure is a Limited Liability Company (LLC), the members will create an Operating Agreement, which is the agreement among the members as to how they will run the business.  This agreement is absolutely critical, and needs to  have a number of important terms in it. 

In this video, I explain how to set up a business with a partner and important terms to include.  Going into business with a partner?  Considering bringing on a new partner in your business?  How do you write a partnership agreement?  Watch my video to get some basic information, and if you need assistance with a partnership agreement, please book a call with my team here.
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Should I Trademark My Business Name?

10/15/2017

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So many business owners wonder if they should trademark their business name or logo.  It's one of the most common questions I get.  Particularly if you are looking to expand your business, license or franchise, getting the proper trademark protection in place is critical.  What is involved, how do you submit an application, how long does it take?  Find out in this video.  If you are looking for a trademark lawyer, or would like to discuss the trademark application process and how much a trademark will cost, please set up a time to talk here. 
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Partner Up or Go Solo?

10/11/2017

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Bringing on a business partner or partners is a big decision.  So many times I've seen business partnerships implode, threatening to destroy an entire business.  The most critical thing when entering a partnership is proper planning.  Here are some basic tips for what to include in a partnership agreement:

7 Things That Should Be In Your Partnership Agreement

 
Management of the Company 
Is the ownership and responsibilities both 50/50? If one of you will be doing the majority of the work you may want to consider an Employment Agreement.
 
“Tie-Breaking” Voting Provisions If  you are 50/50 owners, who holds the Trump card, should a dispute arise? You may consider a provision for the purpose of breaking the tie on certain issues.  
 
Mediation Clause How will you handle large disputes with a partner?  Consider a simple mediation clause appointing an individual you trust, such as a business advisor to mediate any dispute between you.
 

 “Golden Rule” Buyout Clause If the two of you are disagreeing more than occasionally, it’s probably a sign that the two of you were never meant to work together in the first place. A “golden rule” buyout clause allows you to make an offer to purchase the other’s interest in the business for a price you both consider fair.
 
A Death ProvisionWhen a partner dies, their interest in the business doesn’t just disappear. It become an asset of their estate and will pass to his heirs by will or through the probate process. Either way, you end up with the deceased’s relatives as your business partners. Make sure your partnership agreement includes a clause allowing you to buy out your partner’s estate when he dies.
 
 A Disability ProvisionMost people know they need a buyout provision in case a partner dies. It is much more likely, though, that a partner will become disabled at some point. Your partnership agreement should allow you to buy out your disabled partner if that happens. Be sure to define “disability”.
 
A Divorce ProvisionMake sure any partners spouse signs a consent form agreeing that any shares he or she may receive in a divorce proceeding will be sold under the buyout clause, so the ex-spouse does not become a partner of the business.
 
This simple agreement including these common provisions can avoid stress, litigation, cost and hassle.  Contact us today to have your Partnership Agreement prepared today! 
 


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    Author

    Sarah E. Holmes is a Philadelphia business attorney and strategist that helps start ups and established businesses looking to expand, protect their assets and increase their profits in an approachable, down-to-earth way.  When you're looking for a business lawyer in Philadelphia, the Main Line or New Jersey, we can help.

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Holmes Business Law, P.C.
​Two Convenient Locations- Main Line and Center City
40 E. Montgomery Avenue (all mail)
4th Floor
Ardmore, PA 19003
and
1515 Market Street
Suite 1200
Philadelphia, PA 19102
215-482-0285
 

info@phillysmallbusinesslawyer.com

All site content is subject to copyright 2021 by Holmes Business Law P.C.
This website and its content herein constitutes attorney advertising.  Any content on this website should be construed as informational, not legal advice.  No information on this website is intended to create an attorney-client relationship.  Only a signed fee agreement between Sarah E. Holmes and the client will establish an attorney-client relationship.  Use of any information on this site is provided "AS IS" with no warranty of any kind, either express or implied.  Always consult with a licensed attorney in your own state for legal advice.
Photo used under Creative Commons from AK Rockefeller
  • Home
  • Attorneys & Areas of Law
    • Business Entities >
      • Corporations
      • Limited Liability Company (LLC)
    • Business Immigration
    • Business Purchase or Sale
    • Raising Capital & Investor Agreements >
      • Promissory Notes and Debt Financing
      • Private Placement and Equity Financing
    • Business Contracts >
      • Consulting Agreement
      • Employment Contracts
      • Independent Contractor (1099) Agreements
      • Website Terms and Privacy Policies
    • Copyright & Trademark
    • Hiring Employees/NDA/Non Compete
    • Estate Planning & Wills
    • Commercial Real Estate >
      • Commercial Lease
    • The Right Start Program
  • About
    • Speaking and Events
    • Client Testimonials
    • Privacy Policy/Terms of Use
    • Contact
  • Business Success Tips
  • Flat Fee Packages
    • New Businesses
    • Existing Businesses
    • Dispute Resolution
    • Trademarks & Copyright
    • Estate Planning
  • COVID-19 HELP