“q & a”

Post image for Basic Training: M is for When ‘Member’ Shouldn’t Mean ‘Owner’

People are getting smart about creating communities online. If you can get people to join, and you provide a benefit at a reasonable cost, chances are you’ll be on your way to building a nice annuity stream. The problem comes (as it does in other kinds of businesses) when the founders want to “sweeten the […]

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Q.:  What should I be aware of while creating an LLC with a foreign partner?  My potential partners are in Taiwan and mainland China. What issues should I be careful of before moving forward with my overseas partnership? Read on to find out . . .

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Few business partnership situations are as unpleasant as those involving family members. If you “kick the bum out,” will your brother run to Mommy and rat on you? Will you be able to show your face at Thanksgiving dinner if you’ve won the company but lost your family’s support? Read on for the Q&A from […]

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Post image for Basic Training:  The Catch with Provisional Patents

Q:  I have invented something that could almost be considered reinventing the wheel.  Here is my question.  If I built and used my own invention (not just a prototype), would I still have protection if I only have a provisional patent on it? I don’t want to manufacture it myself; I want to sell the […]

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Post image for Basic Training: Ask, Don’t Take

Once again, I’m asked whether you can take what someone else has made and simply sell it to a new market . . . even (and especially) if the original manufacturer hasn’t had the wisdom to move into the new area.  Just think of the money they’re leaving on the table! Unfortunately, in many cases, […]

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Post image for Basic Training: T is for Tough Choices

I’ve been on a murder mystery/detective fiction kick for a bit. Having just devoured Sue Grafton’s T is for Trespass (and she’s already written books A-S), I realized that we’re both nearing the end of the alphabet. Today’s Basic Training–which brings me, like Grafton, to the letter “T”–involves a not-so-basic situation: What do you do […]

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Q. I am a founding partner in a 15-year business.  All 3 partners work in different capacities at our business. We have had financial struggles along the way. Recently, my 2 partners have infused capital to keep going; I didn’t have the money to make a contribution.  We also have not received salaries for over […]

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Post image for Basic Training: W is for When Did Drinking Games Go Online?

OK, so maybe my age is showing (it hasn’t been that many years since college, has it?), but I thought that drinking games were idiot party tricks made up on the spot by frat boys sitting around a keg of watered-down beer trying to get into the panties of the coeds. Apparently, it’s now a […]

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Post image for Basic Training: V is for a View on Invention Protection

Q: What would be the first step for an invention? How can the idea be protected when others will need to be involved in the process of getting the idea to market? A: It’s very difficult to protect an idea, unless you have found some way to “capture” it in a kind of tangible form–such […]

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Post image for Basic Training: Q is for Quagmires and Family Businesses

Few business partnership situations are as unpleasant as those involving family members. If you “kick the bum out,” will your brother run to Mommy and rat on you? Will you be able to show your face at Thanksgiving dinner if you’ve won the company but lost your family’s support? Here’s today’s quandary: Q.: My brother […]

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