Archive for the ‘Running a Business’ Category
Wednesday, December 9th, 2009
If you own a San Diego business with more than one owner, do you know what will happen to the business if one of your business partners wants to sell his or her share, or decides that it’s time to retire – should anyone be allowed to take that co-owner’s place? What if instead a co-owner divorces, becomes disabled, or dies – will that business partner’s spouse or other family members suddenly become new owners, and how can that affect the business? A buy-sell agreement (also called a buyout agreement) answers these and other important questions by detailing how ownership will be restructured once certain events occur. For each business partner, the potential benefits of creating a buy-sell agreement are seen from two perspectives: if your partner leaves, the buyout agreement can promote business continuity and protection for you during this transition; on the other hand, if you decide to leave, the agreement can plan for your own exit or retirement, and can help protect your family in the event of death or disability. (more…)
Posted in Business Disputes & Lawsuits, Running a Business, Stating a Business
Wednesday, November 18th, 2009
As some San Diego businesses have withstood the recession well, others have seen profits drop or may even be struggling to keep their doors open. If your business falls into the second category, you probably haven’t been able to escape the question: Should you close your business? It may be possible to ride things out until the business becomes profitable again or try to turn things around by changing your business model, e.g. promote a new marketing strategy or introduce new products/services. But financially, these options may not be available to you, and it might be time for you to move on to another investment or career. (more…)
Posted in Running a Business, Selling a Business
Tuesday, September 29th, 2009
If you’re a San Diego business owner, then you know that when looking for commercial space, the last thing you want to do is blindly sign the lease being offered to you, because a commercial lease always needs to be negotiated. Looking at the Chargers’ lease of Qualcomm Stadium with the City of San Diego, the San Diego Union Tribune reports that the agreement expires in 2020. Before then, the lease provides that the Chargers have a month-long window every year to notify the city of its intent to leave, with penalties at $54.6 million if the team moves next year, but dropping to less than half that amount in 2011 (an amount which some say could be a penalty the team is willing to pay). At least according to Chargers’ special counsel Mark Fabiani, quoted in a Voiceofsandiego.org article, the city got a “bad deal” considering the limited revenue generated by Qualcomm. (more…)
Posted in Business Real Estate, Lease, Real Estate, Running a Business, San Diego
Friday, August 7th, 2009
Many San Diego businesses choose to incorporate or set up an LLC (a limited liability company) to take advantage of the benefits offered by these business structures, including protection of your personal assets from company debts and lawsuits. California courts take the division between a corporation or LLC and its shareholders, members, officers, and directors seriously-and recognize that protection from personal liability is a legitimate reason to form a corporation or LLC. Even if courts generally don’t “pierce the corporate veil,” it can happen, but there are things you can do to help prevent putting your personal assets at risk. (more…)
Posted in Asset Protection, Business Disputes & Lawsuits, Running a Business, Stating a Business
Monday, July 13th, 2009
Over the years, Woody Allen has protected the use of his image, such as in his recent case against American Apparel, the California clothing company that, as the New York Daily News recently explained, used Woody’s image on billboards without his permission. Now the famed director is suing for $10 million. As Woody Allen continues on with his efforts to protect his “brand,” have you thought about what you should be doing to protect your San Diego trademark? It’s important to create and register trademarks for products and servicemarks for services. Registration will set your business apart from the competition and protect your brand, something that’s especially important in today’s economy. (more…)
Posted in Business Disputes & Lawsuits, Running a Business, Stating a Business, Trademarks
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