Today we're flashing back to 1985 when John Fogerty was sued for infringement of copyright. The catch? He was sued for infringing on himself. Read on for this bizarre tale.
We've started our IP discussions with Trade Secrets and Copyrights but today I want to tackle the basics of Trademark protection. I hear trademark and copyrights getting confused all the time. They're actually very different in terms of what can be protected by each and what the test is to determine whether an infringement has occurred. Let's dive in, shall we?
We discussed the simplest business form, the Sole Proprietorship, and now we're back to discuss another type, the Limited Liability Company (LLC). This biz type is a little harder to set up but has certain benefits not available to Sole Proprietors. Mostly involving tax and liability...WAIT! DON'T LEAVE! This is valuable info for you and your business so stick with me here!
Close your eyes and visualize a written contract. Did you picture a multiple-page, lengthy document? Was it covered in tiny writing that said things like "including but not limited to"? Did you picture yourself anxiously flipping to the last page to sign? Yeah, you're not alone. Deep down inside most people know it's important to use a written contract but get overwhelmed when it's time to create or sign one. If you read this post, you know that a written contract isn't required, so why would you want one? Here's why.
Copyright Law grants you 6 exclusive rights over the use and distribution of your copyrighted works. To understand the benefits of copyright protection you are provided as the owner, let's take a closer look at what these rights, sometimes referred to as a "bundle of rights" or "bundle of sticks", are all about.
If given the choice, you want to be the one to present your own contract when entering into an agreement with someone. Why? Because when you draft your own contract you can choose to include, or not include, anything you want. But knowing how to spot red flags in contracts you didn't draft yourself is an important skill for an entrepreneur to have. There are quite a few to discuss but today we're going to talk about indemnification clauses.
Way back in 1970, George Harrison released his first single, My Sweet Lord, as a solo artist. You've probably heard it before. But did you know he was sued for Copyright Infringement for the song? He was ordered to pay $1,599,987. In fact, he later claimed he never received any money from the song as it's always been in escrow. Read on for the full story.
If you're considering launching a "side hustle" or leaving your 9-5 for a great business idea you'd like to pursue, this post is for you. Entrepreneurship can seem great, and it definitely is in many ways, but it also has its downsides and struggles too. Here are some things to think about before you take the plunge.
At its most basic, a contract is a legally enforceable agreement between two or more persons to do or not do certain things. So, does a contract need a specific formulation of words to be valid? Nope. Does it have to be in writing? Sometimes. It can be a complex area of the law but you don't need to be intimidated by contracts. Let's start out by taking a look at the different types of contracts.
Figuring out what legal form your business should take is one of the things I'm most frequently asked about. But I have to admit, it's probably the least sexy part of starting your biz. I mean...taxes are involved. Need I say more? I know your eyes just glazed over. But it also happens to be one of the most important decisions you have to make. It's going to impact how you're taxed, how much liability you will have for your business' debts and how the IRS will treat you. We're going to start this journey with the cheapest and easiest legal form: Sole Proprietorships.