Finding the Right Fit – Franchising vs. Licensing

A client in the fitness business is currently trying to uplevel and scale her business. She has been in the business for about 5 years and has secured intellectual property rights in a certain type of fitness methodology and brand. One way to grow her business would be through franchising. Or as I suggested, licensing. A lack of capital is the most common barrier to business expansion. Taking on debt, …

Risks and Rewards of Being Popular

Being popular can pose a host of problems. Like, Kim Kardashian and Kanye West having to beef up their security teams after getting threats resulting from Kanye’s tweets regarding Donald Trump. Don’t ask me how or why I have that random information!      Businesses face issues too once they start gaining popularity and are successful. I have a client who owns a pretty successful moving company in New York, let’s …

How to go from an Idea to Business

Businesses are often created when someone comes up with an idea and puts that idea into practical use by taking varying forms of risk. An Ideapreneur is a group of entrepreneurs who comes up with a brilliant idea and disrupts the market in a way that hasn’t been done before. Think, Uber, Airbnb, WeWork etc. Ideas or concepts cannot be protected. Once an idea or concept is formed, it needs …

When First Does Not Always Win

Business owners often create and develop brands only to later find out, either through a cease and desist letter or a lawsuit, that they cannot use the brand. This could be because another company has a registered trademark or the company claims that they were first to use the brand name. Either way, defending a brand proves to be an expensive learning curve for a lot of entrepreneurs. Brand names …

Overcoming Rejection

You know real pain if you’ve ever been rejected in love or life. This week, a client received a rejection from the United States Patent and Trademark Office for 3 trademark applications. Ouch, that must hurt! Even though rejections are painful, it is pretty common in the trademark realm. Statistics show that 1 in 5 trademark applications receives an initial rejection. Fear not! All is not lost. Each trademark application …

The Personal Name Battle

Entrepreneurs like lawyers, fashion designers, jewelry designers, photographers, interior designers, chefs, event planners, often use personal names as brand names for their business. As a solo entrepreneur or small business, you are your brand (my brand is my personal name). This week, I’ve had a few business owners ask me if personal names can be trademarked. The short answer is yes. Of course, there are limitations and perimeters within which …

The Fear of Contracts

I talk a lot about contracts (Let’s get real, they are my bread and butter). Contracts are the foundation of any successful business. They act as roadmaps guiding the parties to a successful business transaction. They anticipate potential issues and create a mechanism to resolve them. I’ve seen some clients fear contracts. They avoid having well written, comprehensive contracts for the fear of losing clients. I recently spoke to a …

Copyright Law is no Monkey Business

A few weeks ago, I was listening to a podcast which discussed a strange lawsuit. One filed by a monkey! The gist of the case was that a photographer named David Slater was in the jungles of Indonesia when a monkey named Naruto pressed the camera button and took a selfie. But Slater had positioned the camera, experimented with various setups, configured the camera settings and mounted it on a …

Growing Pains and How to Handle Them

Growth is key to any business. While growth means big numbers, it also means adding to your problems. Hiring people to help you, increased client intake, increased revenues are all indicators of growth. Growth comes with its own problems of building a good team, managing and retaining good talent, creating systems for easy payments and collections, complying with regulations, and protecting and securing your work products. These are all good …

New Year New You – Armed With a Contract Checklist

It’s the new year and if you’re like me, you’re taking inventory of documents that you use or have in your business (and if you’re not, it’s time to make that your New Year’s resolution), whether they relate to taxation, payables, receivables or even contracts that may be expiring and need to be renewed. Or it may well be that you are entering into a new business relationship and you …