Northern Georgia General Law Blog

Underestimating workloads and deadlines can lead to bankruptcy

Many things can lead to bankruptcy for a small business, from the introduction of new competition in the same space to a general downturn in the market because of outside influences. For instance, tourism-related businesses took a hit during the recession, not because they did not offer good products, but because other people did not have enough money to be tourists.

One simple thing that could lead to bankruptcy, though, is just underestimating exactly what work needs to be done and how long it will take. If there isn't any income during this time, the company can run out of capital.

Business debt: how much is too much?

A 2014 poll revealed that more than forty-six percent of business owners feel their livelihood is threatened by the amount of debt they carry.

Debt, as we know, is a part of doing business. When managed carefully, it’s a smart business tool. There is, of course, such as thing as too much debt. According to Allan Smith, business strategist: “When a considerable amount of expenses is leveraged for servicing debt rather than investing in your business, small business firms start struggling and this can make them fall into trouble when debt and expenses outpace revenue.”

Report: Atlanta a top place for startups

Many things impact how likely a startup is to succeed. This includes what decisions it’s owner makes when forming the business. There are many important choices to make when starting a company. A few examples include what business structure to pick for the company, what agreements to form if you have co-owners and what financing to have in place for the business.

Given the major implications these decisions can have, planning carefully for them can be critical for entrepreneurs. Skilled business law attorneys can assist individuals with the various preparations that go into starting a new company.

From idea to patent: When does an idea become a reality?

An interesting ruling out of the Northern District of California raised an important question for business owners throughout the United States, including here in Georgia: When does an idea become a reality and therefore become patent eligible?

Ideas for inventions, processes, products and more are often the backbone of many businesses and can be valuable intellectual property when they become fully developed. However, as the recent ruling illustrates, securing protection for an idea is not possible under current U.S. intellectual property laws, a fact that can raise issues before and during litigation. 

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