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Posts published in “Business Law”

The potential problems with giving USPTO fee-setting authority

The United States Congress is currently considering a bill called the Patent Reform Act of 2011. This bill contains a list of long-desired reforms to the US patent system, with the intent of streamlining and improving the way in which inventors and companies protect their intellectual property. The reform bill features changes to how patents are claimed, the way damages are doled out, and the way in which individuals or corporations can challenge patents. However, there is one aspect that has been the subject of some inquiry and controversy: under the new bill, the United States Patent and Trademark Office (PTO) would have the ability and authority to set their own fees at will, without prior consultation or lawmaker action. (more…)

Who is covered by worker’s compensation?

This is the first in a series of articles to give you information about work related injuries. Almost everyone who gets a paycheck is covered by this law. The main exceptions are for independent contractors, such as real estate agents and certain farm employees. Minors and part time employees are covered and the law applies to anyone hired in Illinois or injured in this state, even if they were hired elsewhere. (more…)

What to include in construction contract

The construction contract is an important document that contains the details about a contract for construction requirements. There are several elements that must spell out in a construction contract that should deal with the salient points and help make a good agreement between the involved parties. Determined by the nature of a contract some elements might be applicable while some might need adding up. Nevertheless, some of the salient points which must be integrated into the construction contract are identities of the involved parties, recitals, obligations, representations, payment terms, price, terms of the contract and liability, warranties and termination of contract. (more…)

Allow Your Business To Make Money For You

If your business is successful, that means that you have done something right. Consumers today will not patronize just any business in search of a product or service that they deem to be valuable. If they have latched on to yours, you should feel very fortunate indeed. You may be thinking that it is time to expand, but you are hesitant to stretch yourself and your limited resources too thin. This is wise, and caution is the best way to proceed moving forward. Rather than expanding your own business into new locations on your own, you should look at a franchise model to accomplish this for you. (more…)