If you sign a licensing agreement to sell someone else’s products, but that person already has an exclusive license with a third party to sell the same products, you could be legally on the hook. That’s a lesson that J.C. Penney learned the hard way, after it signed an agreement with Martha Stewart to sell a variety of her housewares in special dedicated sections of its stores. The problem was that Martha Stewart had previously signed
A car dealership couldn’t be held liable in court for a salesman who sexually assaulted a customer, according to the Texas Court of Appeals. The customer had brought her car in for service and was waiting for a shuttle bus to take her home. The salesman offered to drive her home in his personal car, and she claimed that along the way, he made improper advances. The dealership immediately fired the salesman. The customer sued the
If you lease a store or other business and someone trips and falls outside the building, are you legally responsible? That often depends on what’s in your lease – so this is something you may want to think carefully about when you negotiate. This issue came up recently when a woman named Sabena Beriy fell on what she claimed was a poorly maintained curb outside a P.F. Chang’s China Bistro restaurant. P.F. Chang’s had leased the
You can’t obtain a patent for taking some ordinary process in the real world and coming up with a computer program that makes it easier, according to the U.S. Supreme Court. The decision is important because many companies have been trying to patent their apps and other programs to keep competitors from taking their business away. In the Supreme Court case, a company called the Alice Corporation tried to patent an online system to reduce risk
If you’re using social media to market your business, that’s terrific – but you should be aware that the same legal rules that apply in the “real world” also apply to Twitter, Facebook, Pinterest and other venues. Many companies have rushed into social media marketing plans without considering the legal issues. Here’s a quick look at some of the problems that can result: Improper endorsements. Many social media campaigns solicit endorsements, testimonials and favorable reviews from
Were you less than satisfied with your financial situation at the end of 2014? If so, making tax-smart decisions in 2015 could provide a helpful course correction. Here are some suggestions to get you started on the right path. Get structured. That out-of-control feeling from last year might be due to a lack of organization. Set up a simple filing system to arrange your tax papers and records. Once you’re organized, review your monthly expenses and
You get an annual checkup from your physician to monitor and manage your personal health. Shouldn’t you do the same for your business? To keep your operation in top shape, consider an annual business review. The benefits of such a review are evaluating current performance and better planning of future operations. Some things you should evaluate in an annual business review include the following: Revisit your business strengths, weaknesses, and opportunities. Is your competitive position improving,
March 2 – Payers must file 2014 information returns (such as 1099s) with the IRS. (Electronic filers have until March 31 to file.) March 2 – Employers must send 2014 W-2 copies to the Social Security Administration. (Electronic filers have until March 31 to file.) March 2 – Farmers and fishermen who did not make 2014 estimated tax payments are required to file 2014 tax returns and pay taxes in full. March 16 – 2014 calendar-year
The IRS has revealed that its level of service to U.S. taxpayers is expected to decline due to a combination of factors – increased workloads and cuts to the agency’s 2015 budget. The increased workloads are partly associated with new tax issues related to the Affordable Care Act. The budget cuts will impact how the IRS is able to respond to customer service telephone and written inquiries. Also notable: the budget cuts could result in taxpayers
Breakeven analysis is an important and useful tool in business. Whether starting a new business, expanding current operations, contemplating an acquisition, downsizing, or approaching banks and other potential lenders, one should know what the breakeven is. Breakeven is simply the point at which costs equal income – no profit, no loss. It’s an excellent starting point for finding out where the business is and where it can go. It’s the first step in planning future growth.
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