Intellectual property refers to intangible assets that are the creation of the human mind such as inventions, literary or artistic works. These assets are protected by law, giving exclusive rights to the owner. Common types of intellectual property rights which you can use to protect your business and creations include copyrights, trademarks and patents.
Business torts, also referred to as economic torts, are unlawful business practices committed by an individual or body against business organizations. The intention is mostly to harm the credibility or gain an unfair advantage over the affected party.
A contract is a written, formal agreement that is enforceable by law. Contracts are a common concept in the business world. Contracts are highly useful and are made to benefit all parties involved. In some cases, problems might arise that could lead to contract disputes. A business contract consists of certain rules and obligations that must be complied with by all parties involved. If any party fails to follow the rules set by the contract, then this is formally known as a contract breach.
If a contract is breached, this might affect only one party negatively. This party might then wish to enforce the terms of agreement. If during the contract breach the business was harmed in any way, then the affected party may also file a claim to get compensation or a financial award for the losses. Often the parties involved in the contract breach may try to resolve the matter without involving the court. This informal settling of the dispute is to ensure that the contract stays unbroken.
Any deceptive practice that harms the consumers or other business entities can be classified as unfair competition. The United States law makes sure that one business does not have an unfair advantage over other businesses. Federal and state laws also protect consumers from unfair practices by companies to sell their products.
There are several examples of unfair trade practices that give businesses an edge over others. Trademark infringement allows them to use another company's trademark to attract customers. An unauthorized substation of goods and inappropriate use of trade secrets is also deemed as unfair competition. It is important for the playing field to be equal for all businesses, which is why the law protects businesses from unfair competition.
Contract law is complicated, and there are several factors that are considered before contracts can hold up in court. If an agreement or promise has been made, you should always know if the law will enforce it. This gives you an upper hand in business and negotiations.
Pieces of land are usually divided into different zones to make life easier for residents and businesses. Creating land zones makes it easier for municipal corporations to develop the area according to specific requirements. The areas are developed to make sure the people in different zones are provided with all the required facilities. Some prime examples of land zoning are industrial zones, residential zones and commercial zones. Each zone is optimized to make it an ideal location.
A non-competition agreement is a contract or clause in your contract that prohibits you from starting a business or profession that is a direct competitor of your current employer. Several companies ask their employees to sign these agreements in an attempt to protect their business and clients in case they are poached. A non-competition agreement usually keeps the company secrets safe, making sure they are not used against the company. These contracts are not appreciated by some courts because they could stand in the way of someone earning an honest living.
Commercial real estate is one of the largest business industries in the United States. When working in this business, people might require assistance or external funding to help expand their business. Sources of venture capital may be used to obtain these funds. Venture capital is a type of funding in which specialized firms provide funding in the hope of receiving a long-term capital gain. Receiving venture capital involves complicated negotiations, and there is a lot of give and take before a final agreement is reached. The venture capital company tries its best to get the best possible deal, which could benefit them in the future.
Construction projects can be handled by both owners and private contractors. They are also called construction developers. Developers have certain responsibilities that must be fulfilled to ensure the project is successful. Failure to follow the correct protocol might lead to complications and delays in the project.
Trade practices that economically harm other businesses or consumers are called unfair competition. Unfair competition laws were designed by the government to reduce the number of unfair business practices. These practices can be of different types and forms. Some examples of unfair trade practices are insider trading, trademark infringement and false advertising.