by eclewis | Aug 24, 2010 | Business News
I get asked sometimes how important it is to make sure things are in writing. For instance, should I have an agreement with another potential owner of a company put in writing before forming the company? And if so (which the answer is almost always yes), how carefully worded does it need to be?
Well to answer that, I bring you Leffler v. Industrial Claim Appeals Office, which was recently heard at the Colorado Court of Appeals (Case No. 09CA2299 for anyone interested). In this case, the Court of Appeals has to determine what the word “stump” in the Colorado Revised Statutes meant. In particular, as it applied to this case, whether someone who had lost part of his fingers had “stumps” that qualified for additional compensation under the law.
So you may be wondering, is the law that particular that someone would fight over whether “stump” meant losing your arm from the wrist down or does just a finger count? In some cases, yes it is that particular. That is why when you have an agreement with another person it is important that not only do you have it in writing, but you have that writing reviewed (or written) by someone with knowledge of the law. The last thing you want to do is spend money fighting over the meaning of a word, phrase, or paragraph in your agreement!
(And for those wondering, the Court did rule that “stump” also applied to the lose of just a finger.)
If you need help with your business agreements, please contact me, your Denver business attorney, at Elizabeth.Lewis@eclewis.com or 720-258-6647 today!
by eclewis | Aug 18, 2010 | Business News
So I was recently asked whether you can use a YouTube video as filler in a conference setting. Curious, I began by looking at Youtube’s Terms of Use to find out exactly what it said about the use of its content by users and found this:
“You may access Content for your information and personal use solely… You shall not copy, reproduce, distribute, transmit, broadcast, display, sell, license, or otherwise exploit any Content for any other purposes without the prior written consent of YouTube or the respective licensors of the Content.”
With that in mind, I wondered whether displaying the content at a conference would fall into the “broadcast” or “display” categories. When I think of broadcasting something, I think of allowing the general public or a large group to watch it. Therefore, it would depend on the specific setting and what was being used. In the display category, again I think the same factors would apply.
What this case proves to me is that each copyright case is very specific. Unfortunately, there is no one size fits all to determine whether display of a video from YouTube, i.e. using copyrighted materials, violates the license in the copyright granted to the user through the Terms of Use. Therefore, the best thing to do is always ask permission from the copyright holder and get the permission in writing! Only by doing this case you know that you have permission to use it.
If you are a small business owner who is looking for help with copyrights, please call me, your Denver small business lawyer, at 720-258-6647 or Elizabeth.Lewis@eclewis.com.
by eclewis | Aug 17, 2010 | Business News
Last week, I ended on the subject of finances for small business owners. As a small business attorney based in Denver, I work with small businesses everyday that have many of the same questions. One of the biggest ones is do I have to personally guarantee a loan? And the thought process that goes with the question is “I started a small business to protect my assets, by personally guarantying the loan, don’t I put my assets at risk?” And the answer in many cases is yes, you do either incorporate or start an LLC to protect your personal assets; however, in many cases it is because you did just that that another party wants the personal guarantee.
A personal guarantee ensures the other party that you are willing to risk your assets in the startup or continued day-to-day operations of your business. In many cases, a third party will not sign a contract with a new company without the personal guarantee because if the owner of the company isn’t willing to risk his or her assets, the third party is definitely not willing to risk anything. However, when you, as a small business owner, is asked to sign a contract with a personal guarantee, you should always have the contract reviewed by a Denver small business lawyer such as myself. Your business attorney can help you determine whether the contract is one that you can sign and can help point out potential areas that you may want to negotiate prior to signing.
If you are a business owner in need of a small business lawyer in Denver to review a contract for you, please contact me at 720-258-6647 or Elizabeth.Lewis@eclewis.com.
by eclewis | Aug 6, 2010 | Business News
When starting a business, seven issues must be addressed by the business owners and the business attorney to help determine both the business structure and the tax structure to be used:
- Who is going to own the business in the short term?
- Who is going to own the business in the future?
- What is the purpose of the entity?
- What is the exit strategy of the business owners?
- How is the business going to be funded?
- What are the financial situations of the business owners?
- Is the business going to own assets and, if so, what types of assets?
The answers to these questions will help the business owners and the business attorney determine whether a partnership, corporation, or limited liability company is more appropriate for the business. It will also help the business attorney or the accountant, if one is involved, help determine the tax structure of the business.
If you are looking to start a business and need help, please contact me, your small business lawyer. Prior to our first meeting, please think about the above as the answers to these questions help build the formation of your small business!
by eclewis | Aug 3, 2010 | Business News, Online/Social Media Law
Several months ago, your Denver small business attorney did a Continuing Legal Education class on online marketing for attorneys. During this presentation and in the slides, I mentioned that Colorado had not issued any opinions on online marketing for attorneys. On March 20, 2010, that changed.
In Formal Opinion 122, the CBA Ethics Committee issued an opinion on Internet-Based Lawyer Marketing Programs. In the opinion, the Committee stated that some, but not all, Internet marketing programs are allowed under CRPC 7.2. Programs that are generally allowed include online directories, some programs that work on a fixed fee, and those that provide information about attorneys based on location or practice area only. Programs that are not allowed include those that do not inform users that attorneys pay fees to be referred to the client specifically, those that have attorneys pay a higher rate to be a “recommended” attorney, and those that attorneys pay by the client.
If you have any questions about online marketing for your small business, please feel free to contact me, your Denver small business lawyer.
by eclewis | Aug 2, 2010 | Business News
All potential purchasers of small businesses face some of the same issues. For instance, potential purchasers should:
- investigate the company’s finances to see whether the company is performing as well as the owners say it is;
- determine whether you are going to do an asset purchase (purchasing just the assets) or whether you are going to purchase the company (purchasing the stock or membership interests);
- review the assets to determine the worth;
- hire a small business attorney in Denver to write the sales agreement.
However, if you are purchasing a company that is regulated by the PUC, you most likely will have additional steps to take. For instance, you will probably be required to either request a transfer of the PUC license or be required to apply for a new license. Prior to receiving a license, whether a new one or the transfer of one, you will probably have to have things such as insurance or business paperwork in place. Because these processes take both time and navigation of the PUC rules and regulations, it is important to involve a Denver business attorney early in the process so you can start operating soon as the purchase of the business is complete. Failure to do so may mean you have already purchased the business but must wait before you can begin operating it.
If you are looking to purchase a business that has a PUC license, please contact me, your Denver Small Business Lawyer, today to help you through the legal maze of determining the best way to accomplish your goals.
