How to Know If You Need to Patent Your Product

BY Christopher Hann 

Why Friends And Family Are Your Worst Business Enemies

BY Mark J. Kohler

Every week our firm gets phone calls from clients around the country who have lost their money by investing with friends, family or neighbors they trusted.

In nearly every case, in the beginning there was a guarantee of unusually high returns with no risk, and of course the promises of success from a trusted relationship. However, by the time they call our office, the money is gone, their calls are being ignored and they need legal advice on what to do next.

In the worst cases, people have borrowed money against their own homes or used their retirement plan in order to fund risky investments and businesses in anticipation of higher returns, but now their nest egg is gone.

I am constantly amazed at how many people will invest or loan hundreds of thousands of dollars to their neighbor or fellow church member without getting anything in writing or security. I just hear the constant excuse: "I didn't want to hire a lawyer because it would have made the relationship uncomfortable and I trusted them."

Investing with people you know or who seemingly have a great reputation and tract record may be comforting, but it has no bearing on whether an investment is sound or the documentation to protect you is sufficient.

The Basics of Sole Proprietorships

Chances are, you're already running a sole proprietorship. Now, educate yourself on the pros and cons, the tax implications, and the legal liabilities to determine if you want to remain a sole proprietorship.