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August 2015 Archives

POUR-OVER WILL

Living trusts are created with the purpose of ensuring that all of a person's assets are passed onto the correct beneficiaries. When creating a living trust, it may be helpful to also create a pour-over will. A pour-over will is a document in which the writer of the will, also known as the testator, creates a trust and declares that the property in the testator's estate will be directly transferred to the trustee of the trust upon death. Having a pour-over will would allow one to automatically transfer property at the time of death. pour-over 

DISSOLVING A PARTNERSHIP

Many partnerships end when both partners have met a certain objective and their partnership is no longer needed. Sometimes, a partner is no longer necessary when the business can become a new entity, such as a corporation. Other situations such bankruptcy or the retiring of a partner can also lead to the dissolution of a partnership. In most cases the terms for dissolution of partnership are included when drafting the initial business adissolve-300x201.jpggreement. 

MAKING CHANGES TO A WILL

Circumstances are always changing and it is important to understand how you can make amends and updates to your will. There are many circumstances in which changes must be made to a will including, but not limited to:

JOINT LAST WILLS

Estate planning is essential to ensure that your assets will be distributed the way you would like after your death. A common way couples divide their estate is through a joint last will. Spouses typically use a joint will, but it can be created between any two people.

ESTABLISHING GUARDIANSHIP IN A WILL

A last will is a legal document that allows a person to dictate how their estate should be divided to their beneficiaries. If you are a parent with children under the age of 18, you may also consider naming a legal guardian within the will. The legal guardian will take care of your children in case you become unable to. Establishing guardianship will ensure that your children will be taken care of by a trusted individual. idaho-boise-guardianship-attorney-300x193.jpg

GREY MARKET GOODS

It is common knowledge that U.S. customers are willing to pay a higher price for products from valued, well-known brands. There is a price disparity between the amount of money U.S. consumers are willing to spend versus the amount foreign customers are willing to spend on the same product. These higher prices create a good domestic market for products, but it also incentivizes the selling of items referred to as grey market goods. Grey market goods or parallel market goods, are genuine and non-counterfeit trademarked products that are imported from one market and sold in another market - which the manufacturer did not intend for sale - at a below market price. 0_0_640_0_70__Features_globe-boxes-300x246.jpg

AVOIDING PROBATE

Probate is a legal procedure in which a specialized probate court oversees the distribution of property according to the will of the deceased. The court will ensure that all debts are paid and that the property of the deceased will be passed on to the correct beneficiaries. If a person dies without a will, the court will see that their assets are passed to members of their family, depending on the state's probate law. Wills are required to go through probate, but there are others ways of avoiding this time-consuming process. probate-court-300x192.jpg

TRADEMARK DILUTION

dilution-300x180.jpgTrademark dilution is the use of a mark or name that is similar to a famous mark to lessen the capacity and influence the reputation the mark has on the public. Federal Trademark Dilution Act (FTDA), 15 U.S.C. § 1125(c), enacted in 1996, specifically protects famous marks from unauthorized use. Dilution differs from trademark infringement because trademark infringement involves the chance of consumer confusion. However, dilution can occur even when consumers will not be misled. When a mark similar to another famous mark is used in commercial settings, it may be considered a trademark dilution. 

GRANDPARENT VISITATION RIGHTS

Traumatic events such as death or divorce can cause a strained relationship between a grandparent and a grandchild. Sometimes, parents challenge visitation laws, claiming that grandparent visitation laws infringe on their constitutional right to raise their children. If one or both parents deny you access to your grandchildren, it is important to know how to restore your visitatioGrandparent-Visitation-300x207.jpgn rights. 

ESTATE PLANNING FOR SMALL BUSINESS OWNERS

Estate planning for small businesses is essential in order for the business to survive after the death of the owner. It is important to make plans for your business to ensure its continued growth and success. To ensure that a business does not die along with the owner, there are certain strategies a business owner should consider.succession-planning-300x201-300x195.jpg

SOCIAL MEDIA COPYRIGHT LAWS

Many companies are beginning to include social media as a part of their business strategy. Social media can create new marketing opportunities and give companies the ability to mass publish and distribute content to anyone who has access to the Internet. Many companies use social media as a way to increase profits by helping expose the business to many potential customers. However, there are many copyright issues that must be taken into consideration once a post is made social media websites. shutterstock_118435408-300x200.jpg

ESTATE PLANNING FOR SPOUSES

Planning in case of the death of a spouse is an unpleasant subject that many try to avoid. However, it is necessary to ensure that the death of your spouse will not come as a financial burden to you and your family. It is important to make note of important documents and information to ensure that the passing of your spouse's assets will be done iEstate-Planning--300x212.jpgn a thorough and effective manner. 

U.S. GOVERNMENT URGES GLOBAL ENFORCEMENT OF IP LAWS

The Office of United States Trade Representative (USTR) released the 2015 Special 301 Report. The report is the annual review of intellectual property rights protection and enforcement within the United States and in countries that participate in trade with the United. The report is a reflection of the United States' efforts to maintain effective intellectual property rights.

LAST WILL VS. LIVING WILL

There is a common misconception that last wills and living wills are essentially the same. Last wills and living wills, though similar in sound, are two entirely different pieces of documents serving different purposes. It is important to know the difference between the two in order to correctly protect your assets. iStock_000016879965Medium-300x209.jpg

UNDERSTANDING THE DIFFERENT TYPES OF PARTNERSHIPS

In the business world, a general partnership is a form of business that has more than one owner. A general partnership can come with a great deal of liability. All partners in a general partnership are all personally liable for all business debts. For example, a partner in the partnership makes a poor business decision and it results in debt, all partners will be responsible for the actions of that one partner. Each partner also has agency authority, meaning that a single partner can bind the entire business to a contract or business deal. Although a general partnership is easiest to form, there are other business entities that one can form with multiple people that will protect all owners of the business from the liabilit86531169-294x300.jpgy issues. 

LLC VS. CORPORATION

When starting a business, choosing the correct form of business entity best suited for your company will be advantageous in the long run. There are two common business entities to consider, a corporation and a limited liability company.

CHECKLIST FOR CREATING A WILL

Creating a last will and testament is an essential tool in outlining a person's wishes upon death and can protect loved ones from the stress of distributing assets without proper guidance. To get started, Wang IP Law Group, P.C. has compiled a will checklist of important issues to address in any will:

10條對於知智慧財產權的誤解

您對智慧財產權瞭解多少呢?很多人可能對專利、版權和商標權保護法有大概的認知,可是對於應該什麽時候,用什麽辦法才能保護自己的權益,和怎樣才能避免觸犯版權法就一知半解了。 以下10條强調通過智慧財產權來索取侵權賠償和提防誤觸法網的要訣:

5472表格: 外籍公司的潛在債務

如果您是一間在美國做生意的外籍公司,您可能需要提交美國稅務局(IRS)的5472表,不然有可能被罰款十萬美元。如果美國稅務局沒有按時收到公司提交的5472表,稅務局將自動罰款公司十萬美元。法規26 C.F.R. § 1.6038A-4(a)(1)。 更表明了如果不小心的話,罰款還有可能倍增。這是因爲外籍公司在納稅年中 和美國人或外國人 做的任何一筆交易 都要單獨填寫一份5472表。§ 1.6038A-4(a)(3)。

您可以被踢出他人的遺囑嗎?

作爲親人遺囑里的繼承人或接受者,收到給予您的財產的過程不一定一帆風順。尤其是如果您發現您被遺囑的主人之外的人"踢出去"了,例如遺囑主人的配偶或您的繼父繼母。適當的反駁步驟包括在法庭上情願,辯駁這份遺囑的有效性。如果遺囑上是用塗改液塗掉的那那份遺囑應該很難有法律效應。可是如果沒有任何人對提出某個繼承人提出異議,那能辯駁的機會就看時間過了多久而變少了。如果因爲這種非正規的更改而使一份遺囑無效,法院可能會完全丟棄不看這份遺囑而按照"各州繼承法"來分配過世人的金錢與財產,就像完全沒有立遺囑一樣。
在普遍案例中,沒有遺囑的情況下,法院會分配所有的金錢與財產給過世人的配偶。可是您還是有權利來駁辯那份遺囑,并證明遺囑的主人的"真正意願"是想要把資產留給您的。如果您不下措施,財產就會正式進入遺囑檢驗(probate),除非您能證明欺詐,接下來的1-2年内您就不能駁辯這個過程。證明欺詐的存在也是有可能的。如果更改遺囑的人真的用塗改液來修改遺囑那就算是欺詐。所以最好的辦法還是讓遺囑的主人按期更新修改遺囑,確保任何修改都不會在他/她去世后引起混淆,有遺囑被判無效的危險。 

產業規劃:生前信托 VS 遺囑

規劃您的產業是一個重要的工具。它能讓您做主誰將得到您的錢財和資產,什麽時候收到,在什麽條件下收到,而不是讓政府決定分配您的財產。能自己掌控您的產業是很一個重要的原因,可是產業規劃的好處還包括減少或完全免除產業稅務和避免費時又費錢的遺囑檢驗(Probate)過程。遺囑檢驗過程有時能拖到1-2年,這期間您的財產分配就要延期了。在加州,遺囑檢驗過程尤其複雜。有時要經過數個申請,提議,還要出庭,準備財產清單等才能完成。
遺囑雖然可以當指揮令,確保服從過失人的意願來分派財產,遺囑卻不是正式的轉讓證明。有些人以爲有了遺囑就不需要遺囑檢驗,這個想法是不對的。衹有一份分配所有財產的生前信托才能保證避免遺囑檢驗。在一份生前信托里,財產所有權(titles)在過世者過世前就被轉讓了。這也是遺囑和生前信托的不同處衹有。對任何有一定財產的人來説,生前信托比遺囑的好處要多。

給予您的商標國際保護

隨著您業務的不斷發展, 您需要考慮您的品牌是否已經國際化。通常,美國的商標保護法對於想要發展國際業務的公司是不足夠的。商標僅是國有權利,各國家,地區皆不同。在想要決定什麽時候應該尋求國際商標保護時,請考慮以下問題:

起草有限責任公司經營合同

一所有限責任公司(LLP)的經營合同和公司(Corporate)章程是相似的。這兩件文檔都爲您公司業務的營運所下定義。經營合同闡明有限責任公司的内部條款,包括各方的權益,義務與職責。在結成公司時,經營合同應該放映各方獨特的目標,生意計劃,公司和員工的文化。以下是您公司起草經營合同時,您需要考慮的四個重要問題。

STATE TRADEMARK VS. FEDERAL TRADEMARK

approved-trademark-application-with-stamp-300x223.jpgTrademark rights are obtained simply by having a distinctive word, phrase, or symbol that indicates a product. No registration is needed to have basic trademark rights under the common law. However, if the distinctive phrase or logo is gaining recognition, applying for a trademark may be necessary to ensure full legal protection. 

ESTABLISHING A LIVING TRUST

Setting up a living trust is an important part of planning the distribution of your estate. A living trust is a legal document that acts as a substitute for a will. If you have children, or specific people you want your estate to pass on to, setting up a living trust may be a viable option to consider. living-trust-300x173.jpg

FAIR USE OR INFRINGEMENT?

When a copyright is obtained, the owner has the exclusive right to use and distribute all copies of the material. Any other use of the copyrighted material may be considered copyright infringement. However, there are instances where the use of copyrighted materials can be justified due to limitations on the exclusive rights of a copyright owner, known as fair use. It is often difficult to determine whether or not the use of a particular piece of work is considered "fair use". copyright-law-300x198.jpg

THE IMPORTANCE OF INTELLECTUAL PROPERTY IN BUSINESS

Intellectual property is becoming an increasingly important business asset. Intellectual property refers to innovations in the form of copyrights, patents, and trademarks. Examples of intellectual property include novel inventions, artistic works, literary works, and distinctive signs pertaining to a company. Protecting intellectual property allows a company to grow by sharing their innovations while maintaining their rights as the owner.

INCORPORATING A BUSINESS

When starting a business, it is important to research the different types of business entities to determine which one is best suited for your business. The most popular business entity is a corporation. Incorporating your business will make the business a legally separate entity from the owner. A corporation can do anything that a legal person can do, such as owning property and signing contracts. It is essential to understand the advantages and disadvantages of incorporating in order to decide what is best for your company. incorporation.jpg

WHEN DO YOU NEED A WILL?

There are many ways one could plan for the distribution of assets after their death. With so many estate distribution options available, when is it necessary to have a will?

SUPREME COURT UPHOLDS PRECEDENT PROHIBITING ROYALTY COLLECTION ON EXPIRED PATENTS

On June 22, 2015, U.S. Supreme Court ruled against the inventor of a Spiderman toy who claimed that a 50-year-old precedent barred him from collecting the royalties he was entitled to. The court declared collection of post-patent royalty as unlawful and upheld the precedent set by Brulotte vs. Thys Co. (1964). The inventor of the Spiderman toy, Stephen Kimble, attempted to overturn the decision that has prevented numerous inventors from collecting royalties after their patent had expired. web-blaster-150x150.jpg

ARE YOU READY TO FILE FOR A PATENT?

The United States Patent and Trademark Office (USPTO) grants patents for the protection of inventions. Patent holders have the exclusive right to make, use, or sell an invention for a certain period of time. Filing a patent application is a complex process but it is necessary for the legal protection of an invention. The USPTO examines applications and grants patents only to applicants who meet certain requirements. Before applying for a patent, consider the following questions: patent-150x150.jpg

POWER OF ATTORNEY

In the event that you are incapable of making decisions for yourself, assigning the power of attorney to a trusted relative or loved one is important in protecting your assets. The power of attorney is a legal document where an individual, also known as the principal, can appoint another individual to act on his or her behalf. The appointed individual is referred to as the "attorney-in-fact", and has the legal authority to make decisions for the principal - in private, business, and certain legal matters - when he or she is unable to. powerofattorney-150x150.jpg

DRAFTING A RENTAL AGREEMENT AS A LANDLORD

As a landlord, one must take all necessary precautions when drafting a rental agreement. It is important to cover all aspects of the rental process and be prepared for any complications that may occur. A thorough rental agreement allows the landlord to have complete confidence when leasing out property. Below are some important issues to address when drafting a rental agrelandlord-150x150.jpgement: 

TRADEMARKING A NAME

You have probably seen a trademark symbol denoted by a small TM at the corner of a word or phrase, but what exactly does it mean? A trademark symbol is placed on a word or phrase that identifies a product or service provided by a particular source. Similar to a copyright, obtaining a trademark means that only the source of the good can use the trademarked phrase or symbol.

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