Category: Business & Corporate
Which Type of Business Entity Is Best for Me?
In this two-part series, we’ll discuss the differences in the following business entities: Sole Proprietorship, Partnership, and Limited Liability Company. Congratulations! You want to start a business. You’ve perfected a million dollar idea and are excited to hit the ground running. You’ve fine tuned your process, know who your target market is, and maybe even …
Which Type of Business Entity is Best for Me? Part Two
In the first entry of this two part blog series, we discussed four questions to ask yourself when deciding what business entity to choose. In part two, we go into detail about LLCs, Corporations, and tax considerations for each. Limited Liability Company (LLC) or Corporation The main reason to form an LLC or corporation is …
Keeping the Family Camp in the Family
With summer imminent, many Mainers and those “from away” will be heading to their camps or vacation properties for relaxation and recreation. Frequently, these camps are legacy properties that have been used by families for generations providing an important family tradition and shared memories. As time passes, the number of family members who wish to …
Is That Pot Shop Legal: Maine Municipalities Wrestle with Whether to “Opt in” to Marijuana
As a municipal attorney in Maine, I can never predict what new legal challenge one of our many municipal clients will call about next. This is one of my favorite parts about my job. I say hardly because there is one topic that has come up very frequently over the past several months—marijuana. Given the …
How Do I Get a Federal Trademark Registration?
Federal trademark registration does not create trademark rights, but it does expand them. In fact, this expansion of existing rights is quite valuable. So how do you register your trademark? The first thing is to determine whether your trademark even qualifies for registration. A trademark must distinguish the goods or services of the applicant from …
What Do I Do If Someone Infringes My Trademark
A trademark is infringed by any person who, without permission, uses any reproduction, counterfeit, copy, or colorable imitation of a trademark; or uses a trademark likely to cause confusion, or to cause mistake, or to deceive as to the source of the goods and/or services, or to falsely create an association with the owner of …
How Do I Protect My Trademark
You have a valuable trademark that you use in your business. How do you protect it? (“Protecting a trademark” means being able to stop other from using that trademark or a confusingly similar trademark.) There are several things that you can do to protect your trademark. You should always use your trademark in a consistent …
New IRS Rules Regarding Partnership Audits (including LLCs), Part I
This blog will be part one of three regarding the new IRS BBA Rules regarding partnership audits that went into effect on January 1, 2018. Background: For over 35 years the IRS has wrestled with effectively auditing partnerships and their partners (including LLCs and their members, once LLCs began being widely used in the 1990s). …
Ensuring Compliance with Harassment Training Obligations
The national attention given recently to sexual harassment serves as a good reminder to Maine employers of their obligations to employees in this context. In addition, the first of a new year is always a good time to renew a commitment to a harassment free workplace and ensure compliance with training requirements. In terms of …
Best Practices in International Business Contracting – Part 2
In a prior blog post, I began discussing best practices when contracting with another business that is outside of the United States. The most successful businesses forecast their potential business risks, discuss them early with their counterparts, include related provisions in their contracts addressing those risks, and then monitor the relationship on an ongoing basis. …