The Kumar Law Firm PLLC

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We put so much into developing our businesses. We design products, systems, and specialties to help our businesses grow, succeed, and to set ourselves apart from the competition. With so much time and money that is invested into the development and fine tuning of so many aspects of our businesses, it can be very stressful to consider the possibility of our closely held secrets falling into the hands of competitors or potential competitors. Is there protection available out there to guard against this sort of thing? Trade secret protection might fit the bill. What is a Trade Secret? In intellectual…
Let’s face it, every business is likely to encounter some kind of dispute at one point or another. Competing management styles, difficult team dynamics, and other things can mean big headaches for a company even if it is otherwise thriving. Because of this, it can be important to have a plan in place to help address issues before they become out of control and jeopardize the wellbeing of the business. ADR can be a good option for this. Benefits of ADR in Business Disputes ADR, or “alternative dispute resolution,” refers to less formal means of resolving disputes outside of the…
Are you considering buying into a franchise? It can be a great way to enter the business world while avoiding so many of the headaches start-up founders face. There is often built-in structure and name recognition when it comes to a franchise. There are also training opportunities and operational guidance built into the purchase. Before you sign on the dotted line, however, be sure you are signing an agreement that has everything that should be in a franchise agreement. Wondering what should be included in a franchise agreement? We will talk more about that here. What Should Be Included…
During the Covid-19 pandemic, there were several programs available through the Small Business Administration to help businesses that were struggling. One such program was the Paycheck Protection Program (PPP). Now, some of those loans may be coming due and you may be wondering whether you can apply for PPP loan forgiveness and how you can do so. One of the main attractions of the PPP loan is, after all, that it may be forgiven in full. Once forgiven, the loan becomes a kind of grant as opposed to a loan that needs to be repaid. How Do You Apply for…
A buy-sell agreement is sometimes more aptly referred to as a buyout agreement. These agreements are binding legal contracts between business co-owners that dictate when owners can sell their interest in the business as well as who is permitted to buy an owner’s business interest and the price for that particular share of the business interest. These agreements are entered into by the owners of a business in order to establish some boundaries for what will happen to an owner’s share of the business upon the happening of a specified event, such as the death or disability of an owner.…
Before you start your own business, it can be critical to get your ducks in a row, so to speak. While entrepreneurs set out to navigate the exciting start of a new venture, guidance is key. Meet with a business lawyer and discuss your business details. You may feel overwhelmed with trying to secure financing, developing marketing plans, and so much more. Meeting with a business lawyer may feel like just one more thing to put on your ever-growing to-do list. It can, however, bring you a lot of peace of mind as well as help you focus on…
The State of Texas will generally frown upon contracts and other business arrangements that restrict employees from changing jobs as they see fit. Free enterprise is big in Texas and the state approaches any potential restrictions on trade or commerce with great trepidation. In fact, the Texas Free Enterprise and Antitrust Act of 1983 deems unlawful any contract or agreement that restrains trade or commerce, with certain exceptions being made. The exceptions allow for a balance between free trade and businesses still being allowed to take steps to protect their interests. With this being said, are non-compete agreements in Texas…
Buying a business can mark the start of an exciting entrepreneurial adventure. It can also mark the start of a disaster waiting to happen if you do not do your due diligence in fully investigating the business you are purchasing. Without putting the work in and reviewing the business details closely, you risk falling into a money pit that may be more stress than it is worth. Here, we will discuss how to protect yourself and your business venture by conducting due diligence prior to buying a business. How to Conduct Due Diligence Before Buying a Business Due diligence is,…
It seems that more and more websites are touting the ease and cost savings of DIY legal resources. Proclamations of setting up your own business without the legal feels fill the internet. Avoiding the need to retain an attorney and do things on your own are pushed toward the masses. This is an important reminder to tread with caution when approaching websites that offer an easier, cheaper way to set up your business on your own. Trying to avoid the perceived complication of retaining an attorney can create a host of other complications that can jeopardize your business right from…
Have you come up with a great business startup idea? It can spark excitement like a few other things. The idea, however, is just the beginning. There are many steps to take before you can make it a reality. While dealing with financials is likely not as exciting as coming up with your great business idea, it is essential to building a successful business. Know what you are getting into before you start. Planning and execution of a financial plan for your startup can be crucial to its success. To do so, you will need to know what your projected…