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Concerns About AI and Non-Disclosure Agreements

This post marries two concepts: Non-Disclosure Agreements (NDAs) and Artificial Intelligence (AI). They may seem unrelated, but I’ve noticed an issue coming up lately that may have escaped the notice of many business owners. The bottom line is that your business’ existing NDAs (and any contracts that include confidentiality provisions) may need to be revised to account for new developments in technology. NDAs: A Quick Recap Before we delve into AI, let’s go over what an NDA is. A Non-Disclosure Agreement is a legally binding contract that prevents one party from sharing another’s confidential information. These agreements can protect a…

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What are MSAs and SOWs?

Clients often ask me to review, draft, or negotiate MSAs and SOWs. These are types of contracts that are important to many types of businesses. Let’s take a look at what they are and how they work together. Let’s say two businesses want to work together on a variety of different projects over time. They will have some terms that always stay the same, so they don’t want to have to review, draft, and negotiate a whole new contract every time they work together. But the details of each specific project will vary. This is the perfect situation for a…

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How to Determine the Fair Market Value of a Small Business

Clients often ask how to determine the fair market value (FMV) of a small business. On one level, the goal is to establish a price that a willing buyer and a willing seller would agree to in an open and unrestricted market. There are a variety of ways to establish FMV, and the choice of valuation method depends on the business and the reason for the valuation. For example, let’s say you’re in a two person company and your partner wants to leave. They’ve offered to let you buy them out of their share, with the price being based on…

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How to Avoid A Descriptive or Generic Trademark

The best way to establish a strong trademark is to create a brand name that is neither generic nor “merely descriptive”. In this blog post, I’ll explain what those terms mean and provide some tips on how to avoid running into these issues. The Perks of a Powerful Trademark Before diving into the details of avoiding descriptive or generic trademarks, let’s first explore the benefits of having a strong trademark. A robust trademark can serve as a powerful tool for businesses to stand out in the competitive marketplace and protect their brand identity. Some advantages of a strong trademark are:…

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