A trademark is a word, name, logo, symbol or design that identifies and distinguishes a product from goods or services developed by other companies. Technically, a “trademark” is used to identify goods and a “service mark” is used to identify services, although the term “trademark” is often used as a generic term to refer to both types of marks.
A trademark registration grants you exclusive ownership rights to use your trademark in connection with the goods or products you sell. It also enables you to prevent other businesses or entities from using your trademark.
Topics: best business practices
Earlier this year, I presented on a topic called Be the CEO. That presentation mentioned certain questions that should be discussed with your trusted advisor, i.e. your Certified Public Accountant (CPA), Fractional Chief Financial Officer (CFO), or CFO, at the beginning of the engagement. One of those questions will be the topic of a two-part article series, How Long Do You Plan to be in This Business?
It is common to use the assets of the business as collateral to secure payment of a business loan. A Uniform Commercial Code (UCC) lien filing, or UCC filing, is a notice lenders file to inform others of their claim in the assets owned by the borrower in the event of default. Even though the business owner allows the lender to secure the payment of a business loan with the assets of the business, in many cases, the business owner never sees a copy of the filed lien.
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This week marks our firms 20th anniversary. In 1999 my naïve business plan for a “fee-only” and “fiduciary” investment management firm fit on a cocktail napkin. It was me, a phone and a computer. Thankfully, much has changed since inception and hopefully I’ve learned a bit in the process that may be helpful to others.
No business owner likes to receive an IRS notice that they’re being audited. What resources are available to you to handle an IRS audit? Do you need to keep receipts in order to complete an audit? How long should you keep records in case you are audited?
The Texas franchise tax is a tax imposed on taxable entities organized in Texas or doing business in Texas. Even if your business does not owe taxes, you're required to file a Franchise Tax Report each year. The no tax due threshold has increased $20,000 for 2018 to $1,130,000.
A business must do two things well to survive and prosper over time:
Every semester, we host a speaker for my Texas Lutheran students. The goal is to find experts who speak from the world of “reality,” and they are always incredibly gifted and engaging. Academic theory is necessary from a foundational perspective, but engaging with people who have been “in the trenches” is a useful learning opportunity for my students.
The terminology for limited liability companies can be confusing. For instance: who are the members, managers and managing members?
All of the owners of an LLC are its members, similar to stockholders in a corporation.
There are two different possible management structures for LLCs: A manager managed LLC or a member managed LLC.