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.
For individuals and businesses in Louisiana who are engaged in commercial real estate and development, issues with contractors, building projects and labor liens may arise. Questions concerning what a labor's lien is and how it can impact your business may come up from time to time and understanding how a labor's lien works can be important. In general, a labor's lien is a lien placed on property by a contractor or other vendor who has performed work on the property. The labor's lien is used to ensure the contractor receives payment on the contract for the project.
There may come a time for a business owner to exit a business that he or she has carefully built throughout the years. There a number of different methods in Louisiana for exiting a business. Methods of exiting a business can include going public, selling the business or transferring ownership of the business to a family member. Many business owners become so focused on growing their businesses, which is important, that they fail to develop exit strategies for their business.
This blog recently discussed key steps to starting a business in Louisiana to help set it up for success. Regardless of the success of the business, there may come a time when the owner may wish to sell the business. When a business owner contemplates the sale of a business, they may have a number of important questions they need answered before selling what they have built. One question may be how to properly value their business to sell.
Selling a business can be a great next step for a Louisiana business owner. However, it can be a complicated process for anyone selling a business. Familiarity with the process of selling a business, and what to expect, can help along the path to a successful sale of a business. Having proper guidance before beginning the selling process can also help.
There are a number of different disputes that can occur as part of a contract and a number of different types of issues that can occur in the context of construction contracts. In general, a labor lien can be placed when a contractor, mechanic or other vendor wishes to ensure full payment for a contract for work on a customer's property. In circumstances when payment has not been received by the date noted on the invoice, the party can place a labor lien on the customer's property to ensure full payment of the contract.
The decision to dissolve a business, and the process of dissolving a business, can be different based on the type of business. Dissolution is always an important decision for any business that should be considered carefully. Sole proprietors can dissolve their businesses unilaterally, however, partnerships, LLCs and corporations require that the co-owners of the business agree to dissolve the company according to the articles of organization guidelines.
Many individuals and business owners are familiar with the concept of intellectual property. When they think about protecting intellectual property, however, they may think first of patents. But there are different types of intellectual property that are in need of protection that may not include inventions. For instance, names may need to be trademarked and written material may need to have a copyright. These matters can be critically important at any time during a business' life, from formation to sale.
Selling a business can be a big and important step and may be something that a business owner has worked long and hard for. It is important to have proper knowledge of how to sell a business and proper guidance when approaching the sale of a business.