Many entrepreneurs like the idea of buying a struggling business and turning things around by making better management decisions. After all, owners of distressed businesses are often willing to sell for cheap so they can recoup some of their investment and avoid further debt. This could be a great opportunity for experienced entrepreneurs with financial liquidity to buy a struggling business at a great price.
Of course, there are several legal and logistical issues to consider when buying a struggling business. You must conduct due diligence, do market research, and create a new business plan to ensure the business has a realistic chance at success under the right management.
Consult Legal Professionals
If you’re new to the process of buying a business, it’s a good idea to consult a few legal specialists before moving forward. A great lawyer will help you determine which questions you should ask the business owner to ensure this purchase is a smart move. This will help you get a clear sense of the strengths and weaknesses of the business you will be buying. You may also want to consult the intellectual property attorneys at Miller IP Law for questions about patents, trademarks, and copyrights.
Have a Business Plan
Writing a business plan will help you prove that you can achieve success with the business you intend to purchase. Your plan should include details regarding how you’re going to adapt the business to the current state of the market, including which new services or products you can offer to the existing audience. Perform an examination of the business's target market and the economics of the industry. The current business owner should be able to provide you with a lot of this information, but you may also be able to uncover data on the business by searching online.
Your business plan should also include a thorough evaluation of the business’ competitors. Perform a competitive market analysis on the business to identify gaps in the market that you could leverage to help the business get back on its feet. Be sure to research the competitors’ sales tactics to get an idea of the kind of competition you’re up against and how you might be able to target customers in a unique way.
Establish a Marketing Plan
Your business plan should also include a description of how you plan to market your new-to-you business. Do your research to ensure your marketing plan aligns with the business's existing customer base. A little rebranding is a great way to bring a fresh, modern flare to a struggling business, but you don’t want to go so far as to alienate customers who identify with the old brand. KickoffLabs suggests involving your customers in the rebranding process asking for feedback, suggestions, and concerns.
If you decide to rebrand the business, start by creating new graphics for the business website and social media pages. An eye-catching banner is great for highlighting a fresh, new brand image. You can hire a graphic designer to create a banner for you or save some money using an online banner maker to DIY your own graphics. Use a banner maker to find a Twitter, Facebook, or YouTube banner template you like and customize it with your own text and images.
Decide on a Business Structure
The business structure will affect the transfer of ownership when you buy the business. Sole proprietorships, for example, cannot be sold. The sole proprietorship dissolves and the buyer can use the assets for any new type of business structure. Even if the business is structured as an LLC, you may prefer just to buy the business’ assets to avoid hidden liability concerns. Purchasing the entire entity means adopting all loans, lawsuits, and other liabilities.
Unless you purchase an entire business entity, you will need to choose a structure for your business. LLCs enjoy several benefits over sole proprietorships. For example, LLC owners are not personally liable for their company's actions. LLCs are also pass-through entities, which means profits go directly to members instead of being taxed at the company level. If you decide to go this route, you can file an LLC yourself using an online formation service. Just be sure to review your state rules first!
Negotiate the Purchase Price
Before you make an offer to purchase a business, make sure you’re ready to negotiate the sale price. Beyond price, these negotiations should also include the details of the transaction, including warranties, liabilities, and other responsibilities. Do your own research to determine what the business is worth instead of taking the seller’s word for it. Consider why the seller is selling the business, whether they’re willing to stay on and help with the transition, the economic climate, what assets are included in the sale, and your reason for buying. Remember to also look at comparable sales.
Consider Your Funding Options
Unless you have cash on hand to buy a business, you’ll need to explore your funding options. The U.S. Chamber of Commerce lists several different financing options, many of which are often used in collaboration with others:
Talk to a lawyer and a financial advisor for help deciding which funding method is best for your situation.
Rather than starting a business from scratch, buying a struggling business at a deep discount could help fast-track your path to entrepreneurship. Just make sure you do your research before jumping into this big investment. Talk to a legal professional, write up a business plan, do market research, create a rebranding plan, consider how you will structure the business, review your funding options, and learn how to negotiate. You can never be too prepared for a business acquisition! If you are a startup, small business, or a solo-inventor looking for a high quality & affordable patent or trademark, you've found the right place. Miller IP Law offers transparent and affordable options specifically designed for your business goals. Grab a strategy meeting to kick things off! *Photo via Pexels |
About the Firm... Miller IP Law is a firm that focuses on small businesses, startups, and entrepreneurs/solopreneurs. We’re easy to use. We offer affordable pricing that’s transparent and flat-rate. We focus on the little guys who actually need our help. If you’d like an attorney on your team, simply schedule a Zoom call, and we’ll take care of the rest. Top Blog Articles1. Cheapest Way To Get A Patent 2. How Long Does It Take To Get A Trademark? Want to chat more about this topic, or got a burning question? Take advantage of instant chat and send us a direct message
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Miller IP Law is a group of attorney's, based out of Mountain Green, Utah, who are excited to help you build your business and further innovate market places and economies. Please consider looking at our services, billed at flat rate, and be sure to grab a free strategy session to meet with us!
Get weekly stories and information about protecting intellectual property with our e-mail Newsletter today!
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If you're like many Americans, you may dream of owning your own business. However, if you don't have a lot of startup capital, you might think this dream is impossible. Think again! There are multiple resources to help people with limited funds get a business off the ground. This starter guide provides some tips and tools to help.
Look Into Cost-Efficient Business Models
An affordable business model will reduce your financial needs from the start.
Find Innovative Ways to Reduce Startup Costs
Here are some hacks for reducing overhead expenses.
Embrace Diverse Funding Options
In addition to traditional business loans, there are many funding options available.
Invest In Low-Cost Marketing
Marketing will attract customers—but it doesn't have to cost a lot.
You don't have to have hundreds of thousands of dollars in the bank to start a business of your own. There are many resources that can help if you have limited capital. The above guide provides some tools and tips to get you started. Image via Pexels If you are a startup, small business, or a solo-inventor looking for a high quality & affordable patent or trademark, you've found the right place. Miller IP Law offers transparent and affordable options specifically designed for your business goals. Grab a strategy meeting to kick things off! |
About the Firm... Miller IP Law is a firm that focuses on small businesses, startups, and entrepreneurs/solopreneurs. We’re easy to use. We offer affordable pricing that’s transparent and flat-rate. We focus on the little guys who actually need our help. If you’d like an attorney on your team, simply schedule a Zoom call, and we’ll take care of the rest. Top Blog Articles1. Cheapest Way To Get A Patent 2. How Long Does It Take To Get A Trademark? Want to chat more about this topic, or got a burning question? Take advantage of instant chat and send us a direct message
Find Us On LinkedIn |
Miller IP Law is a group of attorney's, based out of Mountain Green, Utah, who are excited to help you build your business and further innovate market places and economies. Please consider looking at our services, billed at flat rate, and be sure to grab a free strategy session to meet with us!
Get weekly stories and information about protecting intellectual property with our e-mail Newsletter today!
Need To Get In Touch With Us?➡Schedule A Free Strategy Session Today… |
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Deciding to form a Limited Liability Company (LLC) for your business structure can help you set up the right foundation. Be it a small or a medium-sized business, an LLC enables you to take advantage of the liability protection afforded to its owners
After you choose a name and Registered Agent for your LLC, one of the next things to decide is how your LLC will be managed. There are two types of management for LLCs: Member-managed LLC or a Manager-managed LLC.
Which you'll decide largely depends on the size of the business and the level of independence the owner(s) wants in managing daily operations. For instance, you want to start an LLC in Florida. You can start by naming your LLC and hiring a Registered Agent in Florida. Next, you'll want to decide if you want your LLC to be Member-managed or Manager-managed. LLC ManagementAgain, there are two types of LLC management: a Member-managed LLC and Manager-managed LLC. As the name suggests, a Member-managed LLC is a structure where the Members, i.e., the owners, handle the LLC daily. On the other hand, a Manager-managed LLC is a structure where a manager, or a group of Managers, runs daily operations and enters into contracts on behalf of the LLC. The LLC can choose between the two management structures. Regardless, a person responsible for managing an LLC can take the following decisions on behalf of the business:
What is a Member-managed LLC?A Member-managed LLC is when the owners have the power to manage the LLC, enter into contracts for the LLC, and handle the day-to-day operations of the LLC. Most small businesses choose a Member-managed structure due to their small size and the level of control the owners want to have over it. Member-managed LLC: By DefaultSuppose you form an LLC in a state that does not specify the management structure in the documents filed for its formation. Further, there is no signed Operating Agreement. In that case, the state statute would apply to the business. In such a scenario, the state, by default, usually assumes the business to be a Member-managed LLC. What is an LLC Member?An LLC Member is the owner of the business. There is no limitation on the number of Members an LLC can have. An LLC Member can own any percentage of the business. All states allow an LLC to have one Member or multiple Members. Pros and Cons of Member-managed LLC:The pros and cons of Member-managed LLC are as follows:
Pros
Cons
What is a Manager-managed LLC?A Manager-managed LLC is an LLC where one or few designated Managers handle the day-to-day operations of the LLC. These Managers can also enter into contracts on behalf of the LLC. In this structure, the owners expect the designated Managers to make decisions related to the day-to-day management of the business. The owners (Members) are not active in the day-to-day management of the business. The owners can select the designated Managers responsible for managing the LLC and they have the power to remove them. Once the Members choose the Managers, they expect them to manage the LLC. There are some LLCs that also have some Members as the Managers. The business needs to specify the management structure of the LLC and must list the information in the LLC formation documents in some states. Additionally, there are two types of LLC Operating Agreements generally drafted. Once specific to Member-managed LLCs and one specific to Manager-managed LLCs. So you'll want to choose the correct template to work from and then edit anything that needs to be specific for your business. The LLC formation documents are usually called the Articles of Organization. However, they may also be called Certificate of Organization or Certificate of Formation, depending on the state. Some states allow you to choose internally between the two management structures. In these states, you don't need to include management info in the documents you file to form the LLC. Instead, the management would be chosen, and explained, in the LLC's Operating Agreement. What is an LLC Manager?An LLC manager is a designated person that LLC Members have authorized to enter into contracts on behalf of the LLC and handle the daily operations of the LLC. An LLC manager is not the same as a usual general manager or a procurement manager, in the traditional sense. Instead, an LLC manager is a position governed by state LLC laws that specifically have to do with the internal affairs of an LLC. Pros and Cons of Manager-managed LLCThe pros and cons of a Manager-managed LLC are as follows:
Pros
Cons
Final WordsWhile you can change the management structure of your LLC at a later date, it's easier to figure it out up front. One must consider how much control and authority the LLC Members (owners) want. If all the Members of the LLC want full control and authority, then a Member-managed LLC is usually the way to go. On the other hand, if the Members want to delegate their authority to one, or a few, designated Managers – and they prefer to take more of a "back seat" role – then a Manager-managed LLC is usually the way to go.
Author Bio:
Got a question about IP and patent law? Reach out to us here at Millar IP Law and we’ll be happy to help you out! If you are a startup, small business, or a solo-inventor looking for a high quality & affordable patent or trademark, you've found the right place. Miller IP Law offers transparent and affordable options specifically designed for your business goals. Grab a strategy meeting to kick things off! |
About the Firm... Miller IP Law is a firm that focuses on small businesses, startups, and entrepreneurs/solopreneurs. We’re easy to use. We offer affordable pricing that’s transparent and flat-rate. We focus on the little guys who actually need our help. If you’d like an attorney on your team, simply schedule a Zoom call, and we’ll take care of the rest. Top Blog Articles1. Cheapest Way To Get A Patent 2. How Long Does It Take To Get A Trademark? Want to chat more about this topic, or got a burning question? Take advantage of instant chat and send us a direct message
Find Us On LinkedIn |
Miller IP Law is a group of attorney's, based out of Mountain Green, Utah, who are excited to help you build your business and further innovate market places and economies. Please consider looking at our services, billed at flat rate, and be sure to grab a free strategy session to meet with us!
Get weekly stories and information about protecting intellectual property with our e-mail Newsletter today!
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If you have a unique idea for a business but lack the confidence needed to go from employee to entrepreneur, you’re not alone. According to Small Business Trends, many Americans hesitate to start businesses due to financial concerns and a lack of confidence in their ability to succeed in business ownership. While understandable, it’s a shame considering the positive effect entrepreneurs have on the economy.
To conquer your startup fears once and for all so you can successfully go from employee to entrepreneur, check out these tips from Miller IP Law. You’ll learn how to prepare a business plan, find the funding you need, protect your intellectual property, and prevent and recover from cyberattacks. Have a Great Business PlanPlanning is your first step toward entrepreneurship, as a well-drafted business plan will walk you through the different steps that need to be taken in order to achieve your business goals and objectives. As your written roadmap, a business plan will describe the products and services you’ll offer, your marketing strategy, financial plans, executive summary, and more.
For help with creating your business plan, start by using a free online template or working with a free or paid business mentor. Business planning apps and tools are also available, so you’ll never have to go at it alone. Find the Right FundingIf your finances are holding you back from starting a business, fear not. Business loans, grants, and your personal savings aren’t your only options for funding: You could also try crowdfunding, venture capitalists (VCs), angel investors, or invoice financing. Having a business plan will increase your chances of securing business funding, so be sure to have this handy when completing applications and meeting with banks or investors. Protect Your Intellectual PropertyOnce you have a business plan, startup funding, and lots of great ideas to put into action, you’ll want to take steps to protect your intellectual property (IP). Intellectual property theft occurs much more frequently than you’d expect, and it’s important to protect your ideas, products, and inventions to ensure that no other individual or organization can act on these ideas before you do.
Miller IP Law offers a variety of intellectual property services such as patents, trademarks, copyrights, and LLC formation. Schedule a free Zoom call to learn more about how IP protection can provide you with the peace of mind needed to put your business plans into action. Prevent Cybersecurity AttacksWhile protecting your intellectual property is important when preparing to start a business, you’ll also need to take steps to prevent and recover from potential cyber attacks that could damage your finances and reputation. Businesses are commonly victimized by phishing, ransomware, data theft, and other types of threats, but there are steps you can take to reduce your risk and recover from attacks much more easily:
Starting a Business Can Be Scary, but Help Is AvailableIt’s normal to experience some level of anxiety and fear prior to starting a business, but there’s a reason why millions of small businesses exist in the U.S. alone: It’s because business ownership is possible. Many new businesses start out as side hustles, however, so don’t be afraid to pursue entrepreneurship in your spare time if you’re not quite ready to take the plunge. With help from a business mentor, IP attorney, or your local office of the Small Business Administration (SBA), you’ll get there one step at a time. *Image via Pexels If you are a startup, small business, or a solo-inventor looking for a high quality & affordable patent or trademark, you've found the right place. Miller IP Law offers transparent and affordable options specifically designed for your business goals. Grab a strategy meeting to kick things off! |
About the Firm... Miller IP Law is a firm that focuses on small businesses, startups, and entrepreneurs/solopreneurs. We’re easy to use. We offer affordable pricing that’s transparent and flat-rate. We focus on the little guys who actually need our help. If you’d like an attorney on your team, simply schedule a Zoom call, and we’ll take care of the rest. Top Blog Articles1. Cheapest Way To Get A Patent 2. How Long Does It Take To Get A Trademark? Want to chat more about this topic, or got a burning question? Take advantage of instant chat and send us a direct message
Find Us On LinkedIn |
Miller IP Law is a group of attorney's, based out of Mountain Green, Utah, who are excited to help you build your business and further innovate market places and economies. Please consider looking at our services, billed at flat rate, and be sure to grab a free strategy session to meet with us!
Get weekly stories and information about protecting intellectual property with our e-mail Newsletter today!
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When it comes to setting up your new business to succeed, choosing the right name is key. Not only can the wrong name make it difficult to connect with customers, but it can also lead to crippling legal problems and many other issues. If you don’t know where to start in creating a unique business name that pushes your brand to long-term success, consider these tips and resources from Miller IP Law:
Starting from Scratch
Here are the very first steps you should take when it’s time to develop your business name:
Making Sure Your Name is Unique
You must like the business name you choose. But more importantly, it must be available!
Other General Tips
Finally, here are some general guidelines to consider as you work toward finding that perfect name to represent your business:
Few things can hinder a strong start more than picking the wrong business name. Consider the tips above as you begin brainstorming potential names for your company. And remember to choose one that is legally available and that you are personally happy with. After all, you’re the one that will be stuck with it for the long haul!
If you are a startup, small business, or a solo-inventor looking for a high quality & affordable patent or trademark, you've found the right place. Miller IP Law offers transparent and affordable options specifically designed for your business goals. Grab a strategy meeting to kick things off!
Miller IP Law is a firm that focuses on small businesses, startups, and entrepreneurs/solopreneurs. We’re easy to use. We offer affordable pricing that’s transparent and flat-rate. We focus on the little guys who actually need our help. If you’d like an attorney on your team, simply schedule a Zoom call, and we’ll take care of the rest.
1. Cheapest Way To Get A Patent
2. How Long Does It Take To Get A Trademark?
Find Us On LinkedIn
Miller IP Law is a group of attorney's, based out of Mountain Green, Utah, who are excited to help you build your business and further innovate market places and economies. Please consider looking at our services, billed at flat rate, and be sure to grab a free strategy session to meet with us!
Get weekly stories and information about protecting intellectual property with our e-mail Newsletter today!
Need To Get In Touch With Us?➡Schedule A Free Strategy Session Today… |
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When you start a business, you're choosing to take complete control of your destiny. Although that comes with its share of benefits, it also means you're responsible for whether your business fails or succeeds. Fortunately, with a few tips, your business will be more likely to thrive.
You typically have four main business structures to choose from: sole proprietorships, limited liability companies, partnerships, and corporations. By choosing an LLC, you can protect your personal assets and receive tax advantages.
If you lack funding to start your business, check into grants that are available to you. You won't have to pay this money back. There are private, federal, and state grants for small businesses, but you need to read carefully to figure out which ones you qualify for.
Perhaps you could take out a loan to cover start-up costs. For you to qualify for a loan, you need a detailed business plan that defines your goals, establishes your marketing plan, and mentions who'll be working for you, among other information.
If you don't require a physical location, set up a home office instead. You can escape from all the distractions of the rest of your house with a designated work area.
As you set up your home office, think about what you'll be using the space for, such as client meetings or handling your finances. Use this information to determine what you need. For example, if you're holding client meetings, you must have a seating area. On the other hand, if you're using your office to manage your finances, invest in a computer that'll last.
Don't forget to create a space you'll enjoy. By doing so, you'll be more likely to be productive. You could add houseplants, which can improve productivity and your mood and help to keep the air clean.
Establish who your target market is before you plunge into creating your marketing campaign. Determine this by asking yourself questions, such as are they mainly women or men, and are they in a certain age bracket.
By knowing your target market, you can implement effective and cost-efficient marketing efforts.
The Internet gives you access to apps that can help you manage almost any aspect of your business, including payroll and scheduling. You may even find apps that allow you to monitor the project process.
If you're working with freelancers, video conferencing allows you to meet with them individually or as a group.
A ‘doing business as’ (DBA) is a name your business can go by rather than the official name. A DBA makes it easier to market new products and services. Plus, you can use it if your domain name isn't available.
When you know a few tips, you can start your business off the right way. You then have more potential for success.
Discover how Miller IP Law can help you with legal matters associated with your business.
If you are a startup, small business, or a solo-inventor looking for a high quality & affordable patent or trademark, you've found the right place. Miller IP Law offers transparent and affordable options specifically designed for your business goals. Grab a strategy meeting to kick things off!
Miller IP Law is a firm that focuses on small businesses, startups, and entrepreneurs/solopreneurs. We’re easy to use. We offer affordable pricing that’s transparent and flat-rate. We focus on the little guys who actually need our help. If you’d like an attorney on your team, simply schedule a Zoom call, and we’ll take care of the rest.
1. Cheapest Way To Get A Patent
2. How Long Does It Take To Get A Trademark?
Find Us On LinkedIn
Miller IP Law is a group of attorney's, based out of Mountain Green, Utah, who are excited to help you build your business and further innovate market places and economies. Please consider looking at our services, billed at flat rate, and be sure to grab a free strategy session to meet with us!
Get weekly stories and information about protecting intellectual property with our e-mail Newsletter today!
Need To Get In Touch With Us?➡Schedule A Free Strategy Session Today… |
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Use the Payment Portal to pay for your Strategy on Demand, and use the form underneath it to send your appointment link to your email.
Jedi is a Patent and Trademark Attorney registered to practice law in Utah and before the US Patent and Trademark Office (USPTO). His entire career has been focused on helping startups, small businesses, and entrepreneurs navigate the US patent system, from drafting patent applications and advising on patent strategies to responding to letters from the USPTO.
Use the Payment Portal to pay for your Strategy on Demand, and use the form underneath it to send your appointment link to your email.
Darrin Burnham is an attorney with Miller IP Law, with experience in a wide range of matters relating to Intellectual Property. Darrin enjoys representing clients at all levels, including several Fortune 100 companies, prominent local leaders in technology, as well as start-up companies in all stages and independent inventors.
As a founder, co-founder, or CEO, you have a LOT of things you have to deal with (especially at the beginning of your company's journey). No one person can be expected to be an expert at everything needed to get a startup up and running.
So we've decided to help.
At Miller IP Law, we help hundreds of startups and small businesses reach their IP goals. We asked ourselves "How else can we help these startups?" So we put together a network of experts that are willing to offer their advice!
If you need help with a specific topic, find an expert! We've included their expertise, name, and a video of them sharing their expertise so that you already know who you're going to work with.
CEO of Miller IP Law
Attorney At Miller IP Law
Attorney At Miller IP Law
Devin is a master podcaster and host of The Inventive Journey, which has had over 200 episodes and guests and almost 4,000 listens.
I spent most of my adult life in the pharmaceutical industry in a fast paced compounding pharmacy. I loved the satisfaction of working with budgets and strict deadlines but something was missing. I worked alone nearly all the time! While I work well alone, I also enjoy the motivation that comes with working with others. It took me 10 years and A LOT of stepping out of my comfort zone but I have finally found what I love.
Matt Rouse guides entrepreneurs and businesses through the maze that is modern email marketing. It’s time to crush your sales and marketing goals with modern email marketing.
Jeff is founder of Global Kinetics, a market development accelerator to early-to-mid stage clients seeking to establish/expand operations in the US market & a long-standing enterprise mobility industry veteran.
I'm a partner of Momentum Digital and Momentum 360 , we provide digital marketing and content in Philadelphia! Momentum 360 is a Premiere Small Business and Real Estate marketing company in Philadelphia and tri-state area. Our main service offerings are 3D Virtual Tours powered by Matterport, as well as photography and videography. We are both a Matterport Service Provider and Google Trusted Photography agency.
Devin is a master podcaster and host of The Inventive Journey, which has had over 200 episodes and guests and almost 4,000 listens.
Use the Payment Portal to pay for your Strategy on Demand, and use the form underneath it to send your appointment link to your email.
Matt Rouse guides entrepreneurs and businesses through the maze that is modern email marketing. It’s time to crush your sales and marketing goals with modern email marketing.
Use the Payment Portal to pay for your Strategy on Demand, and use the form underneath it to send your appointment link to your email.
As Devin worked for a large law firm helping fortune 100 clients with their intellectual property, he realized that there was not a good resource out there to help start-ups and small businesses understand intellectual property, including patents, trademarks, and copyrights.
Use the Payment Portal to pay for your Strategy on Demand, and use the form underneath it to send your appointment link to your email.
Jeff is founder of Global Kinetics, a market development accelerator to early-to-mid stage clients seeking to establish/expand operations in the US market & a long-standing enterprise mobility industry veteran.
Use the Payment Portal to pay for your Strategy on Demand, and use the form underneath it to send your appointment link to your email.
I'm a partner of Momentum Digital and Momentum 360 , we provide digital marketing and content in Philadelphia! Momentum 360 is a Premiere Small Business and Real Estate marketing company in Philadelphia and tri-state area. Our main service offerings are 3D Virtual Tours powered by Matterport, as well as photography and videography. We are both a Matterport Service Provider and Google Trusted Photography agency.
Use the Payment Portal to pay for your Strategy on Demand, and use the form underneath it to send your appointment link to your email.
I spent most of my adult life in the pharmaceutical industry in a fast paced compounding pharmacy. I loved the satisfaction of working with budgets and strict deadlines but something was missing. I worked alone nearly all the time! While I work well alone, I also enjoy the motivation that comes with working with others. It took me 10 years and A LOT of stepping out of my comfort zone but I have finally found what I love.
Use the Payment Portal to pay for your Strategy on Demand, and use the form underneath it to send your appointment link to your email.
Talk is cheap; actions speak louder than words.
As Devin worked for a large law firm helping fortune 100 clients with their intellectual property, he realized that there was not a good resource out there to help start-ups and small businesses understand intellectual property, including patents, trademarks, and copyrights.
When discussing how trademarks works with different categories/classes of goods/service, I always use the example that you could trademark Nike Automotive because it is a significantly different class of goods/services then the brand Nike for sports wear and apparel. To prove the point, I went ahead and filed a trademark for Nike Automotive (check out trademark application for Serial Number 90291071).
Currently the trademark is under examination.
Assuming it is allowed, I will then be putting my 1967 Camaro (as seen in the video) up for sale under the Nike Automotive brand. Stay tuned!
Use the Payment Portal to pay for your Strategy on Demand, and use the form underneath it to send your appointment link to your email.
As a founder, co-founder, or CEO, you have a LOT of things you have to deal with (especially at the beginning of your company's journey). No one person can be expected to be an expert at everything needed to get a startup up and running.
So we've decided to help.
At Miller IP Law, we help hundreds of startups and small businesses reach their IP goals. We asked ourselves "How else can we help these startups?" So we put together a network of experts that are willing to offer their advice!
If you need help with a specific topic, find an expert! We've included their expertise, name, and a video of them sharing their expertise so that you already know who you're going to work with.
We have experts on:
Intellectual Property
Podcasting
Social Media Marketing
Email Marketing
Startup Accelerators
SEO
& more!
If you are a startup, small business, or a solo-inventor looking for an affordable patent or trademark, you've found the right place. We offer transparent and affordable options specifically designed for your business goals. Schedule a strategy session to find out how we can help you.
If you'd rather talk on the phone, feel free to call me at (801) 829-8446
Get a free intellectual property consultation from an experienced Patent and Trademark Attorney.
All you have to do is schedule a Zoom call (video call) using the calendar in this section. Just choose the day & time that works best for you.
We will help you discover what types of intellectual property options are available for you.
Protect your intellectual property the right way. Schedule today.
No purchase necessary. No commitment necessary. No NDA necessary.
DIY your legal matters in a snap!
SNAP Legal is an automated tool, created by and powered by Miller IP Law.
If you can't afford an attorney, and are looking for a time & cost efficient way to take care of your legal matters, use SNAP Legal to DIY it in a fraction of the time.
Do you have experience in a specific area that can help new entrepreneurs? If so, we'd love to have you as an expert in our new "Strategy On Demand" offering.
Entrepreneurs will be able to pay you for a half hour of your time, where they will be able to ask you specific questions about what they should do for their business (within your area of expertise).
1) Enough experience in a particular field that you can pass on advice to entrepreneurs.
2) Some calendar program that would allow clients to schedule time with you (Calendly, HubSpot Meetings, Teams, etc.). NOTICE: The scheduling tool you choose must link up with a calendar of some sort. In order to keep up a good user experience, we don't allow simply emailing back and forth with the client.
3) If you haven't already, record an Expert Advice episode of The Inventive Journey with us (we use these as promotional materials to get people interested in your services).
If you've already recorded an Expert Advice episode with us, then either reach out to Devin Miller at devin@milleripl.com or use the HubSpot Form below to send him a notification that you are interested.
Miller IP Law is a firm that focuses on small businesses, startups, and entrepreneurs/solopreneurs. We’re easy to use. We offer affordable pricing that’s transparent and flat-rate. We focus on the little guys who actually need our help. If you’d like an attorney on your team, simply schedule a Zoom call, and we’ll take care of the rest.
1. Cheapest Way To Get A Patent
2. How Long Does It Take To Get A Trademark?
Find Us On LinkedIn
Miller IP Law is a group of attorney's, based out of Mountain Green, Utah, who are excited to help you build your business and further innovate market places and economies. Please consider looking at our services, billed at flat rate, and be sure to grab a free strategy session to meet with us!
Get weekly stories and information about protecting intellectual property with our e-mail Newsletter today!
Need To Get In Touch With Us?➡Schedule A Free Strategy Session Today… |
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Trademark Application |
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Patent Application |
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Successful entrepreneurs put time, passion, and monetary capital into creating their businesses. Depending on where you are at in your journey, you may have more of one of these resources than another. Many serial entrepreneurs start a business or a side hustle to diversify their income and ensure that they are not over-invested in one industry. This can be a large contributor to why some owners choose to buy rather than build from the ground up. Of course, buying a business can be rewarding in many other ways outside of mere diversification.
Selling a business can be a hard but rewarding experience. Whether you are the founder or a second owner of a business, you have put your time, energy, money, and talent into making the business what it is today! Whenever you start or grow a business you become attached to that business. This attachment usually means you are looking not only to profit off the sale of the business but also want to leave it in good hands.
Whether you have a business you would like to sell, or cash on hand you would like to invest in owning an existing business, here are ten of our top recommendations you consider when engaging in either.
Selling: Take the time to think about why you will be making this transition and what you hope to get out of it
Whether or not you love what you and your business have been doing the last while, there is something that has led you to decide to make transitioning away from your business. Make sure you’ve taken the time to think through what it is and why selling your business is part of what you seek in the future.
Maybe the business has changed as you have grown or maybe you’re no longer as happy running it as you were in the early days. It could be that you feel that someone with different skills could run your business better than you can. Perhaps you are still happy with what you’ve been able to accomplish but have been seeking to get into a new industry.
Once you identify the motivation for selling your business, you can identify what type of buyer you hope to attract. Someone with a certain skill set, someone who can pay you handsomely, or someone who you feel that you can trust. Whatever it is, you need to identify this first, accepting that the answer could be an iterative process as you go forward with the sale.
Buying: Have a framework for success
Decide what a successful purchase looks like. Is it something you are hoping to operate? Are you looking for a business that will help you diversify? What does the margin of the company need to be for it to be a worthwhile investment for you? Once you have considered what metrics you need to achieve success with a new business, you will have a better idea of what business matches your acquisition metrics
Selling: Break down everything that is for sell
You need to look at what you are willing to include in the sale and anything you are want to withhold from the sale. It may seem tempting to say it is all for sale, but vagueness and uncertain sale terms can scare off many buyers. Are you selling assets? Are you looking to sell the rights to the name of a business or a product (i.e. trademark rights)? Does the buyer take over certain operating/non-operating debts of the entity? Some acquisitions require the original owner to stay on for a certain period as an employee or consultant to help with the transition. Make sure you have thought out what you would like to include in your offering.
Buying: Read through every part of the listing
Make sure you have thoroughly audited the company. Be sure that what they are offering is consistent with what you decided you are looking to acquire. If something is missing, such as “rights to products and manufacturing processes”, that does not mean you should not talk to them, but you should ask early on why this wasn’t included. Everything from operations to social following should be examined.
Seller: Make sure you have an easy to understand listing for buyers
When a buyer sees your listing through an agent or webpage make sure that it is easy to understand what you have decided to include in the offer. Be specific and concise in the offer. Break things down and split them into categories. Offer metrics that you feel can be used as selling points. Make sure your documents are in order if anything needs to be checked in the process.
Buyer: Make sure you talk it through with the seller
If the business is well taken care of, the seller will know their company better than you do. You should make sure you can learn everything you can from them in negotiations. Be honest with the seller about any hesitations you may have and see if you can negotiate a deal that works for both parties. You may want to have some agreement for the seller to stick around in some capacity to help with the transition. Be sure to also find out why the seller is choosing to find new ownership. There may be a good reason, but it is something you should know. You should also take the time to find out any problems you can solve in the company.
Selling: Let your stakeholders know when the time is right
If you want there to be bad blood during the transition, do not tell anyone when there is a change in management about to take place. Whether you decide to let your employees know after the sale has been made early on, you should make sure that they know what is going to happen and what it will look like as the transition occurs.
It is often best to let customers know as well once the transition period has begun. Letting the customers know is a show of good faith and helps them prepare for any changes that may come with the new ownership.
Buyer: Check everything twice
Before signing any agreements, review everything. Make sure everything is written down and nothing gets left out. If you need to chat with an attorney, do so to make sure the agreements are comprehensive and well-constructed.
Even after the sale is complete, you may want to review your agreement again to make sure it’s fresh on your mind once the transition period begins.
Selling: Do not hesitate to find help
This process might be overwhelming as it is not something many entrepreneurs do often. Many sellers hire professionals to help them with sell for this reason. If you have disorganized books, make sure to chat with your accountant. If you need help deciding what intangibles are being exchanged or understanding the legal side, find an attorney.
Whatever you are struggling with, know that this is a big transaction and should be done right. There is no shame in getting expert help!
Buyers: Make sure you have the support you need for the transition
From operations to relationships, you need to make sure you have a handle on what the new ownership is going to require. If you are keeping employees on, try to meet them and figure out what their needs are. Get to know the customer if you can. If this acquisition is for a merger notify stakeholders, clients, and suppliers to make sure that everyone is ready for the change.
Miller IP Law is a firm that focuses on small businesses, startups, and entrepreneurs/solopreneurs. We’re easy to use. We offer affordable pricing that’s transparent and flat-rate. We focus on the little guys who actually need our help. If you’d like an attorney on your team, simply schedule a Zoom call, and we’ll take care of the rest.
1. Cheapest Way To Get A Patent
2. How Long Does It Take To Get A Trademark?
Find Us On LinkedIn
Miller IP Law is a group of attorney's, based out of Mountain Green, Utah, who are excited to help you build your business and further innovate market places and economies. Please consider looking at our services, billed at flat rate, and be sure to grab a free strategy session to meet with us!
Get weekly stories and information about protecting intellectual property with our e-mail Newsletter today!
Need To Get In Touch With Us?➡Schedule A Free Strategy Session Today… |
Patent Application |
Trademark Application |
Copyright Application |
Everyone want's to know the answer to how much it's going to cost to patent their invention?
Jedi walks us through the different parts of the patent application process. What the costs are for different parts of the application. Difference between provisional and non-provisional patents. And then of course strategies you may want to consider when deciding how to go about obtaining you patent.
If you have any questions, feel free to reach out for a free strategy session.
Flat Fee Pricing
Straightforward for Patents and Trademarks
About Our Firm...
Miller IP Law is a group of attorney's, based out of Mountain Green, Utah, who are excited to help you build your business and further innovate market places and economies. Please consider looking at our services, billed at flat rate, and be sure to grab a free strategy session to meet with us!
Start Your Journey
Get weekly stories and information about protecting intellectual property with our e-mail Newsletter today!
It's a type of arrangement where a patent attorney takes a portion of ownership in the company in exchange for drafting the patent application.
In this video Jedi explains why this route is not advised for most businesses, as it can be bad for business in the long run.
If you have any questions please reach out via a free strategy session.
Miller IP Law is a firm that focuses on small businesses, startups, and entrepreneurs/solopreneurs. We’re easy to use. We offer affordable pricing that’s transparent and flat-rate. We focus on the little guys who actually need our help. If you’d like an attorney on your team, simply schedule a Zoom call, and we’ll take care of the rest.
1. Cheapest Way To Get A Patent
2. How Long Does It Take To Get A Trademark?
Find Us On LinkedIn
Miller IP Law is a group of attorney's, based out of Mountain Green, Utah, who are excited to help you build your business and further innovate market places and economies. Please consider looking at our services, billed at flat rate, and be sure to grab a free strategy session to meet with us!
Get weekly stories and information about protecting intellectual property with our e-mail Newsletter today!
Need To Get In Touch With Us?➡Schedule A Free Strategy Session Today… |
Patent Application |
Trademark Application |
Copyright Application |
Worried about someone stealing your invention before you get started?
Find out about what protects you as you get started, and what you may and may not need to be concerned about.
If you have any questions, feel free to reach out for a free strategy session.
Flat Fee Pricing
Straightforward for Patents and Trademarks
About Our Firm...
Miller IP Law is a group of attorney's, based out of Mountain Green, Utah, who are excited to help you build your business and further innovate market places and economies. Please consider looking at our services, billed at flat rate, and be sure to grab a free strategy session to meet with us!
Start Your Journey
Get weekly stories and information about protecting intellectual property with our e-mail Newsletter today!
Patent Searches are a vital part of the patent application process.
They are essentially the portion of the process where you research what existing patents there are, and help you avoid issues with the patent office later.
If you have any questions, feel free to reach out for a free strategy session.
Miller IP Law is a firm that focuses on small businesses, startups, and entrepreneurs/solopreneurs. We’re easy to use. We offer affordable pricing that’s transparent and flat-rate. We focus on the little guys who actually need our help. If you’d like an attorney on your team, simply schedule a Zoom call, and we’ll take care of the rest.
1. Cheapest Way To Get A Patent
2. How Long Does It Take To Get A Trademark?
Find Us On LinkedIn
Miller IP Law is a group of attorney's, based out of Mountain Green, Utah, who are excited to help you build your business and further innovate market places and economies. Please consider looking at our services, billed at flat rate, and be sure to grab a free strategy session to meet with us!
Get weekly stories and information about protecting intellectual property with our e-mail Newsletter today!
Need To Get In Touch With Us?➡Schedule A Free Strategy Session Today… |
Patent Application |
Trademark Application |
Copyright Application |
So, you’ve been working on that idea of yours. Maybe have some ideas for a good attorney that can help you file a patent(If not you should definitely check out milleripl.com). Do you need to get your patent filed right away?
The answer comes down to what you are trying to accomplish with your business. In this video, patent attorney Jedi Knight explains some of the considerations you should make as far as when you should file your work for a patent….
You can find more information about patents, intellectual property, as well as running your business on our webpage milleripl.com
Take advantage of our free 15 minute strategy sessions where offer you time to meet with a real attorney to discuss your business at no cost to you or your business. Be sure to find a time on our calendar ASAP
Miller IP Law is a firm that focuses on small businesses, startups, and entrepreneurs/solopreneurs. We’re easy to use. We offer affordable pricing that’s transparent and flat-rate. We focus on the little guys who actually need our help. If you’d like an attorney on your team, simply schedule a Zoom call, and we’ll take care of the rest.
1. Cheapest Way To Get A Patent
2. How Long Does It Take To Get A Trademark?
Find Us On LinkedIn
Miller IP Law is a group of attorney's, based out of Mountain Green, Utah, who are excited to help you build your business and further innovate market places and economies. Please consider looking at our services, billed at flat rate, and be sure to grab a free strategy session to meet with us!
Get weekly stories and information about protecting intellectual property with our e-mail Newsletter today!
Need To Get In Touch With Us?➡Schedule A Free Strategy Session Today… |
Patent Application |
Trademark Application |
Copyright Application |
You might know what a patent is and how it benefits your invention, but may still be left wondering "Is my work patentable?"
The answer depends largely on a couple of important variables. In this video, patent attorney Jedi Knight explains in simple language some of the technicalities of the law surrounding what does and does not qualify a patentable work to help you better understand this process.
What you'll find is that much of the qualification for a patent application to gain approval comes down to the question of does this invention solve a new or existing problem in a unique way.
Additionally, you have to determine if your invention would be considered an "Obvious Variation". Meaning you should consider if the difference is a big enough of a change to what's already out there that the invention can be deemed significantly as its own work.
If you would like to know more about how patents can impact your legal strategy, schedule a free strategy session with one of the attorneys at Miller IP Law. We focus on quick turnaround, good communication, and accessibility for all. Get Started with a Free Strategy Session.
Miller IP Law is a firm that focuses on small businesses, startups, and entrepreneurs/solopreneurs. We’re easy to use. We offer affordable pricing that’s transparent and flat-rate. We focus on the little guys who actually need our help. If you’d like an attorney on your team, simply schedule a Zoom call, and we’ll take care of the rest.
1. Cheapest Way To Get A Patent
2. How Long Does It Take To Get A Trademark?
Find Us On LinkedIn
Miller IP Law is a group of attorney's, based out of Mountain Green, Utah, who are excited to help you build your business and further innovate market places and economies. Please consider looking at our services, billed at flat rate, and be sure to grab a free strategy session to meet with us!
Get weekly stories and information about protecting intellectual property with our e-mail Newsletter today!
Need To Get In Touch With Us?➡Schedule A Free Strategy Session Today… |
Patent Application |
Trademark Application |
Copyright Application |