Since the COVID-19 pandemic, remote work has become an undeniable reality for much of the U.S. For over a year, millions of offices stood empty. Zoom and videoconferencing replaced in-person meetings. Even interviews became remote.
The world of remote employment is the new frontier for many companies who previously maintained in-person workplaces – with pros and cons.
For many medium-to-small-sized companies, managing the myriad of federal and state compliance regulations is a top challenge. With limited resources, keeping up with the many changes that continue to impact the current business landscape is a daunting task.
Here are five things that every business owner needs to understand when hiring employees.
Plus: Employee Vaccination Policy Template for Employers
Businesses and offices are opening up now that vaccinations have become widely available across the United States. Still, the U.S. population is yet to reach herd immunity – and the risk of contracting or spreading COVID-19 remains. If you're an employer, you want to make sure that your employees, customers, and their families are protected against the coronavirus before you start to reopen your workplace with fewer pandemic restrictions.
So what options do you have if an employee refuses to get vaccinated?
If you want your small business to succeed, a crucial step is to establish business credit. Good business credit will benefit your business in several ways, including:
The following are eight steps you need to take to establish business credit.
The Difference Is Extremely Important Under the Law!
If you live in the United States you’ve probably seen the TM (™) and R (®) symbols used in everything from advertisements to product packaging. But what do these symbols mean? And which one can you use for your own branding?
Both TM and R protect your intellectual property rights in the American marketplace. If you’ve built a strong company reputation or cultivated a market of loyal customers, your IP or brand name could be the most important or valuable part of your business. Both the TM and R symbols signify that the brand name or logo has some level of legal protection.
As a business owner, you know how critical it is to build up your brand’s reputation and market recognition. You work hard to cultivate an image that will appeal to your customers. So what happens if someone starts selling products or services under your brand name or logo? What if a competitor copies your product designs or marketing materials?
Trademarks and copyrights work to legally stop these nightmare scenarios from happening by protecting your intellectual property rights in different ways. Your intellectual property or brand could be your most valuable asset. We’ve already discussed how important trademarks are to businesses operating on Amazon and beyond. If you don't take steps to protect your IP, your hard-built business faces danger from copycats looking to cheat their way up.
Depending on the type of business you have, you may need a trademark, copyright, or both to protect your most important IP assets. But the laws around IP protection are not always straightforward. That’s where a knowledgeable business trademark and copyright lawyer comes in to help simplify and streamline the process.
By working with an experienced attorney, you can avoid losing hundreds of dollars and months of time to an incorrect trademark application or copyright registration. Plus, you get to rest assured that you’re taking the right steps to secure the future of your business.
At some point, it's probably inevitable that your small business will need financing in order to grow. One option is to investigate the Small Business Administration (SBA) programs, including the 504 Loan Program. Whether you need startup funding or capital to run and grow your already established business, this program might be just what you need.
So you want to purchase a company or business asset. Buying a company is an exciting venture and you may have high hopes for growing and expanding your business.
But buyer beware: before signing the dotted line, you absolutely must do your due diligence.
A deal that looks promising from the start may have hidden issues that can cost you thousands if not millions of dollars after you complete the purchase. Doing the proper due diligence into a company’s background and operations can save you from experiencing major problems and liabilities down the line. If you fail to do your due diligence, those issues can ultimately overshadow the value of the asset you just purchased.
At Holmes Business Law, we take due diligence seriously because it means protecting our clients. While you can and should do your own due diligence, it’s important to hire an experienced business lawyer to make sure you’re totally covered.
So you've got your eye on buying a business. Or you’re ready to sell your own company to someone else. Whichever side you’re on, buyer and seller are both on board and ready to move forward with the sale. You’ve even drafted a Letter of Intent to demonstrate that you’re serious about the business purchase transaction.
An LOI is a great place to start the process of selling or buying a business. But it's far from the only document you'll need to finalize the sale.
You must make sure to cross your t’s and dot your i’s in a business sale. The process of transferring ownership will go much smoother if you cover all your bases.
But what documents do you need?
Your needs will change depending on your industry and the particulars of the business for sale. The best way to make sure you’ve addressed all your issues is to speak to a local Philadelphia business attorney who can help you with your unique transaction.
Business sales involve risks. It’s natural for both buyers and sellers to have hopes and apprehensions about a merger or sale. A business purchase negotiation requires trust between a buyer and seller as they work to come to an agreement.
A Letter of Intent (LOI) is a crucial part of a successful business sale. An LOI acts as an informal way to kick off a negotiation between a buyer and seller in a business purchase transaction.
Your Letter of Intent essentially “sets the stage” for your business purchase. The LOI terms will clarify the expectations of both sides going into the purchase. Whether you're the buyer or the seller in the sale, both parties benefit from drafting an LOI early on in the process.
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.