Gorman & WilliamsGorman & Williams2024-03-13T15:41:22Zhttps://www.gw-law.com/feed/atom/WordPress/wp-content/uploads/sites/1101556/2022/01/cropped-GW-site-icon-32x32.jpgOn Behalf of Gorman & Williamshttps://www.gw-law.com/?p=478022024-03-13T15:41:22Z2024-03-11T15:38:42ZKnowing the law is the first step. If it is found that another entity is using the trademark, there are options available.
Steps to take when a trademark is infringed upon
If a trademark has been registered and it is found to have been used without the registrant’s approval, it could constitute trademark infringement. For example, if a company has a slogan they use to promote their product and another company uses the same slogan or one too alike to be coincidental, there might be cause to pursue legal action. The key is whether it stokes confusion as to the owner of the trademark.
The entity that committed infringement could be vulnerable to civil liability and be forced to pay profits or damages. This is contingent on it having been used intentionally as a means of deception or fraud. The owner of the trademark can also seek an injunction to put a stop to its use.
Trademarks are essential to protect intellectual property
Any business can have its bottom line damaged by another company infringing on its trademark or other intellectual property. Since this can be so problematic, it is important to know what steps can be taken not just to put a stop to the infringement, but to recover compensation for what was lost. From securing a trademark to shielding it from unauthorized use, it is imperative to have advice and be fully prepared.]]>On Behalf of Gorman & Williamshttps://www.gw-law.com/?p=478002024-02-27T20:05:24Z2024-02-26T20:03:56Zintellectual property and how to enforce your rights.
Tips for monitoring business intellectual property
In a lot of instances, businesses simply stumble across infringing acts. That’s fortunate, but do you really want to rely on luck when it comes to protecting the integrity of your brand and your company’s bottom line? Probably not. That’s why you might want to consider implementing the following into your business practices:
Seeking out trademark usage online and monitoring your competitors to see if they’re using your marks in an infringing way.
Utilizing Google alerts so that you’re notified when your marks are used online, that way you can check to see if your intellectual property is being misappropriated for pirated goods or in another way that’s harmful to your brand or your business.
Placing copyright and trademark notices anywhere that’s justified.
Using confidentiality agreements, non-disclosure agreements, and non-compete agreements to protect against disclosure of protected information.
Creating a new division in your business dedicated to monitoring the use of your intellectual property.
Quickly sending cease and desist letters and utilizing other forms of legal action to hastily bring infringing use to a stop.
Don’t let the value of your intellectual property be watered down
Strong intellectual property can give you a leg up on the competition and set you apart in the marketplace. But if that intellectual property is misused, then you lose out on a lot of value. Don’t let that happen to you.If you’re worried about your intellectual property and how to protect it, then consider getting professional advice.]]>On Behalf of Gorman & Williamshttps://www.gw-law.com/?p=477982024-02-08T22:43:03Z2024-02-08T22:43:03Zcan be helpful in advancing toward their goals. MBE stands for Minority Business Enterprise and WBE for Women’s Business Enterprise. Knowing how this certification can be beneficial is imperative.
Understanding MBE and WBE certification
With these certifications, the businesses are automatically distinguished from other businesses that are not in this category and they can derive benefit from it. When seeking state contracts, MBE certified businesses might have an advantage as they can be hired so minority participation objectives will be met. This is in addition to other positives the business might have such as experience in the job, a history of positive reviews, lower prices and quality work.
Also, there is an online directory that will list MBE certified businesses making it easier for customers to find them and providing them with advertising based solely on being certified. The public and private sector use this directory, so it opens the door to new business opportunities that can advance the business and result in word of mouth referrals.
Know how to pursue options to enhance a business
There is no guarantee that a business seeking certification will receive it. This, like any other area of business law, needs to be fully understood to maximize the benefits and opportunity to succeed.
Whether it is seeking certification, gaining financing, receiving licenses, understanding how to resolve disputes, crafting contracts, dealing with taxes and fees and any other area of business, it is wise to know the ins and outs from the start. Having experienced advice can make a major difference in achieving goals and objectives.]]>On Behalf of Gorman & Williamshttps://www.gw-law.com/?p=477852024-01-25T21:08:00Z2024-01-25T21:08:00ZStep-by-step plan
Your estate planning checklist may look quite different from someone else’s approach to estate planning. Everyone has a different financial and family situation to consider. That said, the beginnings of the process are often the same for most people. It's the details that make all the difference.
When you begin your plan, you start by considering all of your assets and how best to protect and pass on those assets. What are your total assets? What will those assets look like in years to come? What are your concerns for how those assets might be passed on or used by your heirs and beneficiaries? These questions, among others, are something to think about at the beginning of the estate planning process.
From there, you can begin to decide which estate planning documents and tools are right for you and, then, craft those documents to suit your needs. What happens if you become incapacitated? If you need someone to make financial or healthcare decisions on your behalf? Do you have minor children who may need a guardian? As you work through these questions and many others, the step-by-step approach to estate planning will be a useful guardrail to make sure you cover all of the necessary contingencies.]]>On Behalf of Gorman & Williamshttps://www.gw-law.com/?p=477822024-01-12T22:22:26Z2024-01-11T22:21:02ZCompensation forms
There are several types of incentive compensation. You may earn a bonus, which can be based on performance, a signing bonus when you join the company or a bonus for you to stay with the company.
Some companies will offer a share of the company’s profits or stock options. Stock options encourage employees to perform well because it helps to increase their company’s stock value. Employees may also earn commissions if they meet certain goals.
Disputes
Occasionally, you may have a dispute with your employer about the incentive compensation. Disagreements can arise if there is miscommunication about how to earn the incentive. You may believe that you have met all criteria to earn the payment and your employer may disagree.
They can also happen if the employer does not correctly calculate how much you have earned or says that you are not vested, which means that you fully own and control the money, until a later time.
It's important for your employer to use a fair and transparent process for incentive compensation, as well as give you regular updates on your progress toward earning it. If it does not, you may have a claim for compensation.]]>On Behalf of Gorman & Williamshttps://www.gw-law.com/?p=477802024-01-09T10:36:40Z2024-01-03T10:35:45Zwhat happens when there is no will can be a catalyst to write a will and state how property is to be distributed.
Know how property is divided without a will
When writing a will, the testator generally has a clear vision as to how their property will be split. In some cases, the bulk of it will go to the spouse. Without a will, that is not necessarily so. The spouse and minor children will share the estate with each getting half. When there are adult children, the spouse will receive $40,000 and half the estate. The adult children will equally share whatever is left.
If there are children and no spouse, they will divide the entire estate. Without children, the spouse and testator’s parents will share the proceeds of the estate, but the duration of the marriage will determine how much each will get. If the marriage lasted for more than five years, the spouse gets the whole estate. For marriages of fewer than five years, the spouse gets $40,000 and half the remainder of the estate. The parents divide the rest.
If there was no spouse and no children, the parents get the entire estate. When there are brothers and sisters and no parents, spouse or children, they will equally divide the estate. Those with no living heirs will have their estate either go to the Maryland Medical Assistance Program if they were getting long-term care from the state or the Board of Education in their home county.
Creating an estate plan is a protective device
As this shows, not having a will leaves a person’s estate at the mercy of the law. This could lead to their property not being distributed as they would have wanted and stoke dispute between heirs. No matter a person’s financial circumstances, they must clearly define their goals and know the value of an estate plan.
]]>On Behalf of Gorman & Williamshttps://www.gw-law.com/?p=475932023-01-04T18:47:45Z2023-12-23T18:39:14ZMaryland also offers mediation through the civil courts.
Your contracts might require mediation
Business contracts sometimes have an alternative dispute resolution clause, which requires parties to arbitrate or mediate disputes before going to court. Even without this clause in your contracts, you can still try mediation as an alternative to litigation.
There are many benefits to mediation that you should consider. Mediation is free and generally quicker than litigation.
Why mediation is attractive to business owners
Mediation could be a particularly appealing option to business owners because it is confidential. Litigation means information about your business and the dispute you are in could be revealed to the public.
This may damage your business and personal reputations, even if you ultimately win your court case. You could be seen as someone who sues to get what they want.
Alternatively, your mediation session is private and confidential. It is conducted by a mediator, who is a neutral third party whose goal it is to help you resolve your dispute amicably.
You have the power in mediation
A mediator is different from a judge because they have no power to decide your case or make decisions. This means you have the power to determine if you want to settle your case or not.
If you believe the other side is being unreasonable and settlement is simply not possible, litigation is still an option for you. However, litigation could permanently destroy your business relationship with them, which may not be what you want.
You can have an attorney with you at mediation. They can help ensure your business interests are protected and negotiate on your behalf.
Mediation is not always successful, but it is usually worth trying. You may be more pleased with the results of mediation versus traditional litigation.]]>On Behalf of Gorman & Williamshttps://www.gw-law.com/?p=477782023-12-19T06:03:35Z2023-12-19T06:03:35ZHow can you protect the longevity of your estate?
There are several ways to ensure that your wealth will survive in the long-term, but how you approach the matter will depend on the specific issues at hand and your ultimate goals. That said, here are some common ways to protect your estate in the long-term:
Use a generation-skipping trust that provides assets directly to your grandchildren, ensuring that your assets will be available for them to use once they reach the age of majority.
Create a spendthrift trust that will prevent your loved one from spending away assets too quickly.
Utilize a discretionary trust so that the named trustee, which is hopefully someone you trust, will make decisions about when to release trust assets.
Create an incentive trust, whereby the release of trust assets will be triggered by a condition that you identify in writing.
Create an estate plan that meets your goals
There are other ways you can extend the life of your estate. So, if this is something you’re interested in accomplishing in your estate plan, then now is the time to figure out your options and choose those that are right for you and your family. Only then can you rest easy knowing that you’ve create an estate plan that meets your goals.
]]>On Behalf of Gorman & Williamshttps://www.gw-law.com/?p=477522023-12-07T06:05:24Z2023-12-07T06:05:24ZBut, what is it and how can it help protect your business?
Digital Millennium Copyright Act
In 1998, the DMCA was federally enacted to implement the World Intellectual Property Organization treaties on copyright and related rights (Title I), and create safe harbors for online service providers from liability for infringing content posted by their users (Title II). Unless your business is an OSP, Title I is applicable for Maryland businesses.
Title I grants your business exclusive rights to your digital works, like the software you create. These rights include the right to reproduce, distribute, perform, display and make derivative works based on the original work. Title I also prohibits the circumvention encryption, passwords, digital watermarks, etc. And, anyone who violates the DMCA faces civil and criminal penalties.
No. Many criticize the DMCA for both being too broad and too vague, as well as being too restrictive. Nonetheless, it gives your Maryland business a powerful tool to protect your IP online.
]]>On Behalf of Gorman & Williamshttps://www.gw-law.com/?p=477422023-11-28T07:34:47Z2023-11-17T07:33:21ZMistakes to avoid in your merger or acquisition
The good news is that many of the errors made during the merger and acquisition process can be avoided. Here are some of the mistakes that you’ll want to steer clear of as you navigate the process:
Conducting an inaccurate valuation that leads to either overpayment for the merger or acquisition or receiving less than your business is worth.
Overestimating how much the business will grow once the merger or acquisition is complete.
Conducting insufficient due diligence, which leaves you committing to a deal that might not be right for you and your business.
Failing to develop a plan for integration.
Neglecting to initiate clear communication with the other side and talent who will be impacted by the merger or acquisition.
Failing to embrace innovation as part of the merger or acquisition process.
The best way to avoid these mistakes is to develop a well thought out plan before moving forward with your merger or acquisition. Your plan should be detailed, considering all aspects of your deal.
Do you need help navigating your merger or acquisition?
If so, then now is the time seek out the guidance you need. After all, how you handle your merger or acquisition is going to impact you and your business for a long time to come. So, be sure to educate yourself and surround yourself with the business and commercial law assistance that you need to successfully get through your business deal.
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