Author: Arthur

Black Hats and White Hats: Narrow Restrictions

(Part Three in a Series) Although the color of your hat depends on the cumulative effect of your actions, one of the surest indicators of its color is the scope of any restrictive covenants you have with your employees. White Hats have narrowly drafted restrictions, closely tailored to their legitimate business interests; Black Hats seek expansive restrictions.  White Hats …

Black Hats and White Hats: Cumulative Effect

(Part Two in a Series) If push comes to shove and you are forced to file suit to protect your intangible assets, be sure that you are Wearing a White Hat.* No one thing determines whether you are wearing a black hat or a white hat.  The color of your hat depends on the cumulative effect of …

Ten Fatal Mistakes Business Owners Make – No. 10: Failure to Protect Intangible Assets

You do not leave wads of cash in random piles throughout your office.  You work too hard for your money to treat it indiscriminately. Consider, however, whether you are being haphazard with your most valuable business assets. Ideas are the lifeblood of your business.  If you develop and implement great ideas, your business will grow and …

Black Hats and White Hats: Wear a White Hat

(Part One in a Series) Watch an old time black and white Western, and you’ll quickly discern the “good guys” from the “bad guys.” The “good guys” invariably wear white hats while, for some unexplained reason, the “bad guys” feel compelled to wear black hats.  When a new character comes on the screen, the color of his hat …

Avoid the Hidden Hazards and Lurking Liabilities

Your business is under attack from every side. Your “To Do” list is long and detailed. It includes hiring, training, and motivating employees. You must pay your vendors, collect your accounts receivable, and price your goods or services competitively and profitably. If you do not obsess about marketing and client service, your business cannot survive. …

Ten Fatal Mistakes Business Owners Make – No. 8: Failure to Follow Prudent Employment Practices

You started your business because you had a passion for providing valuable services or products.  As your business grew, you added employees to strengthen your business and enable you to better serve your clients. Every time you add an employee, the challenges of operating a business increase exponentially.  The dynamics of your company change with …

Ten Fatal Mistakes Business Owners Make – No. 7: Failure to Create and Update an Estate Plan

You know the old saying is true:  Nothing is certain but death and taxes. While you may know when the tax man will come, no one knows when their time on earth is done.  That’s why you need an estate plan, particularly if you own a business. A few years ago, a young widow came to …

Vary the Speed and Timing of Your Negotiations

Are your negotiations predictable? Do your tactics harm your position? While consistency is often an admirable trait, it can be devastating to your negotiation strategy. Consider, for example, what happens when you repeatedly increase your offer by consistent amounts. A developer wanted to buy the properties on the block of an older central city neighborhood …

Just Say No

Negotiations work best when each party is equally motivated to get a deal done.  The parties can then make a deal that meets the legitimate needs of both parties.  Everyone wins. In many negotiations, however, the parties are not equally motivated.  The Person with the Least Interest Controls any negotiation.  What do you do when you find …

How to Prepare an Enforceable Non-Compete Agreement

So, you have decided that you need a non-compete agreement to keep employees from competing unfairly with your business.  If you want to be able to enforce that agreement, you must change the way you think about negotiating a contract. In most  contract negotiations, your objective is to get as many concessions as possible from the other …

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