Where are my business’s profits going? What part of my business is eating up all the cash? Can I continue to operate my business this way? We frequently hear these questions from clients we represent - not only entrepreneurs and startups, but from businesses of all sizes. Businesses are created and sustained from a desire to provide products and services that benefit others. In return, businesses should provide their Read More
What does it mean to be a data-driven law firm?
At CLARK.LAW, we pride ourselves on being a “data-driven” law firm. The use of data in legal practice is a foreign concept for most lawyers, but it is gaining popularity. Leading edge firms are utilizing data to improve efficiency, ensure consistency, control costs, more accurately predict case values and outcomes, and better serve their clients. Here are four examples of how we use data in our business: Making Read More
Truly Mind Boggling
In February, regional banks BB&T and SunTrust announced they would join forces to become the sixth largest bank in the U.S. This merger is the largest since the 2008 financial crisis, with the new entity becoming the sixth largest bank in the U.S. with around $442 billion in assets, $301 billion in loans and $324 billion in deposits. Earlier this month, the merging banks announced that “Truist” will be the name Read More
My Trademark Search Results Revealed a Conflict – Now What?
Almost every new trademark engagement at our firm involves one or more trademark searches. Some might argue that the search phase of a trademark project is the most important. A properly conducted trademark search reveals information that should be used to design a company’s trademark strategy. Assuming the search was well-designed and the results correctly analyzed, I can’t think of a better way to predict a Read More
Do You Have a False Sense of Security about your Brand?
Business owners frequently have misconceptions about the legal status of their core brand. For the purpose of this article, when I refer to a “core brand” or simply a “brand”, I am talking about the name a business uses to identify itself. A business’s core brand might also include one or more logos or slogans, but here I want to focus on the words that your customers or clients use to identify your business as the Read More
Prepare to Hate your Business Partners
I’m not sure I have ever written an article with such a depressing title before, but it does succinctly and accurately capture one of the single most important pieces of advice I give to entrepreneurs and business owners. Contrary to what you might think, however, the underlying message is intended to help avoid future conflict and strife in your business. Read on and you’ll understand what I mean. In the early Read More
How to Effectively Terminate a Contract
By: Chris Clark and Christy Clark Our website analytics tell us this is one of our most popular articles. If you think we might be able to help you or your business, email info@clark.law and mention this article for a complimentary 30-minute consultation. In one of my favorite episodes of the US sitcom The Office, office manager Michael Scott confronts his growing debt by seeking a fresh start. Michael walks out Read More
What Company Documents does a Single Owner LLC Need? (Part 2 of 2)
We form various types of companies for our clients. One of the most popular is the single-member (i.e. single owner) limited liability company (LLC). LLCs are a popular form of business entity because they offer flexibility, are inexpensive to form and maintain, and (if operated properly) can protect the owner’s personal assets from the company’s creditors. As I mentioned in my prior article, many individuals are Read More
Six Dangers of Operating as a Sole Proprietor (Part 1 of 2)
A sole proprietorship is usually the cheapest and easiest way to set up a business. In many cases you may not have to do anything other than start working and voila - you’re a sole proprietor! It’s not hard to understand why sole proprietorships are the most common form of business in the US. Unfortunately, there are significant risks to running your business as a sole proprietor. This article lists six of them: Read More
What is the Purpose of a Holding Company?
A holding company, as the name implies, is usually an entity formed exclusively for the purpose of “holding”, i.e. owning something. Holding companies typically do not conduct business in the same way an operating company does. The specific purpose of a holding company depends on how it is used and what potential problems a holding company is intended to solve. In this article I will discuss two popular types of Read More
