Here is a sample business action plan for addressing this risk: Step 1: Assessment and Gap Analysis Conduct a thorough review of the company’s existing employment contracts, contractor agreements, and policies to identify any absences of invention assignment agreements (IAAs). Find departments, teams, and projects particularly susceptible to IP ownership disputes due to the […]
Invention assignment agreements (IAA) are crucial for protecting a company’s IP and also offer opportunities to foster a culture of collaboration and innovation. Businesses can craft agreements that secure the company’s IP and allow employees and contractors to participate in joint ventures, partnerships, or even personal projects. On the other hand, neglecting to implement […]
Here is a sample business action plan for addressing this risk: Step 1: Continue to Collaborate Closely with Legal Counsel Maintain close collaboration with the company’s legal team to stay informed about the progress and legal strategy of the lawsuit. Regularly communicate with the lawyers to provide any necessary information, review case developments, and […]
Nobody wants to be involved in a lawsuit — it’s long, tedious, expensive, and damaging to a business. But if you’re facing this problem, rest assured that you’re not alone! According to The Zebra, approximately 12 million contract lawsuits are filed every year against small businesses. There’s no need to harp on why this […]
We don’t typically counsel business owners to seek acquisition opportunities simply to gain M&A experience. The decision to seek out targets of acquisition is a strategic one and should be carefully evaluated. Here are 10 things to consider, good and bad: Pros ● Increased market share: Acquiring other businesses can help you […]
Growth by acquisition is an option for companies interested in expanding their reach and increasing the bottom line. Interestingly, experience with such M&A transactions can increase the value of a business when taken to market to sell. Businesses that have successfully executed transactions may be valued higher than those who have not. Why? Institutional […]
Here is a sample business action plan for addressing this risk: Step 1: Financial Assessment and Cash Flow Management Conduct a thorough financial assessment to understand the company’s current financial position, including cash reserves, debt obligations, and working capital. Develop a detailed cash flow management plan to ensure optimal use of available resources and […]
It’s crucial to be aware of current trends and growth patterns within your industry, which can significantly impact your company’s growth strategy and marketing timing. Imagine you were operating an airline in 2020, when the aviation industry fell into abrupt decline due to the COVID-19 pandemic. This certainly would not be the right time […]