There are several important things to know when starting a business that can help start things off on the right foot. Having the proper foundation for your business begins with business formation and planning and helps to lay a foundation for possible success. One of the most important initial steps in this day and age is to ensure that the entrepreneur starting the business owns the trademark and internet domain name for the business. Performing a thorough search is essential.
Business acquisitions can be a good growth opportunity for businesses. Certain assets of an insurance company in a neighboring Louisiana community are being acquired by another company. The independent insurance agency with assets being acquired reportedly handles personal and commercial lines of insurance and produces annual revenues of $3 million. A representative for the acquiring company said that the growth strategies and customer focus of it and the company they are acquiring assets from are similar.
Many companies have trade secrets that are valuable and that they wish to protect. Information may be considered to be a trade secret if it was created by a company in order for it to conduct its business. Trade secrets can refer to customer lists, supplier lists, formulas pricing and margins and other methods of operation for the business. The information is valuable as long as it remains secret, so it is important to understand how to protect your trade secrets.
A shopping center in Louisiana is asserting it has not been paid rent by one of its tenants. The owner of the shopping center leased a store to the tenants in 2012. The breach of contract claim asserts that the owner of the shopping center is owed $40,000 from the tenant who has fallen behind in payments. The shopping center has accused the tenant of breach of contract for the failure to make missed payments and is seeking damages for the financial injury that has resulted from the breach of contract.
It is helpful to understand that businesses can be separate from individuals which is an important distinction when starting a business because of the significant impact it has on the structure of the business, control of the business, conduct of the business, legal liability for the business and its owners and the impact it has on taxation of the business and its owners. As a result, it is important to carefully consider business formation and what business form is best for getting the business up and running and maintaining it through periods of productive growth and a successful future.