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New York City Intellectual Property Law Blog

What are some examples of unfair competition?

In business, disagreements and litigation can arise for many different reasons, which often leads to additional challenges. From employee claims of discrimination and harassment to contract disputes, business owners face a myriad of problems. However, unfair competition can be particularly difficult for a company to deal with. Whether you have been falsely accused of unfair competition or have experienced financial losses because of another business' behavior, it is vital to know your rights and do what you can to protect your interests.

According to information published by Cornell Law School, there are different examples of unfair competition. In some instances, unfair competition involves deceptive trade practices such as a competitor's attempt to create confusion with regard to a product's source. Other examples of unfair competition are trade libel, a former worker using information that is confidential to attract customers, false advertisements, replacing the goods of one brand with another without authorization, the stealing of trade secrets, and bait-and-switch tactics.

What is an estate tax closing letter?

Various questions could be on your mind if you are the executor of an estate, or if you are in the early stages of planning your own estate. For example, you could be wondering how to distribute assets appropriately or which beneficiaries to include in your estate plan. However, estate matters can be particularly difficult for some executors who may not have much experience with these issues and a number of questions may arise. For example, you may be wondering what an estate tax closing letter is or how to obtain this document. Across New York City, people with these types of concerns should not hesitate to reach out for answers.

After the Internal Revenue Service reviews and accepts a federal estate tax return, an estate tax closing letter may be issued. However, these form letters are only issued upon the request of a taxpayer or their representative, according to material published by the Internal Revenue Service. In order to obtain an estate tax closing letter, you will have to satisfy different requirements. For example, you will have to give the IRS the Letters Testamentary if you are an executor who is requesting a closing letter via fax. A requestor will also have to give the IRS his or her name and address, as well as the social security number and name of the decedent. Moreover, the date the decedent passed away must be provided.

Selling commercial real estate

If you plan to sell commercial real estate in the future, or are already in the middle of a transaction, there are different issues you may want to look over to ensure that the deal moves forward properly. Our New York law office recognizes the different pressures that commercial real estate owners may face during a transaction. With such an important issue, it is crucial to avoid potential pitfalls by preparing for any obstacles that you might encounter and have a strong understanding of your rights.

Selling commercial real estate can be similar to residential property sales in many ways, but there are also reasons why commercial property sales can be more complicated. You should be familiar with zoning and it might even be wise to discuss the property with a zoning officer. Moreover, it is very helpful to maintain healthy business relationships and effective communication. Selling commercial property can be stressful, bring up a lot of uncertainty, and even frustrating. However, if you are smart and approach the transaction process appropriately, the impact of these difficulties could be reduced or even avoided altogether.

Counterfeit products or services and your company's trademark

You've spent years building up the reputation of your business. With a focus on unparalleled service, top-notch products and brand development, you've managed to carve a niche for yourself and your staff. You've also taken steps to protect your intellectual property, such as registering your trademark and asserting copyright over content you publish on your website or social media pages.

Then, one day, you notice a bleak review of your company. At first, you write it off as a jealous competitor or hater, especially because the person leaving the review has had no official interaction with your company. But then you see another review or realize, with a quick web search, that someone else is using your brand name or trademark to market an inferior product or service. You need to take action quickly to protect your brand.

When copyrighted material is used illegally

Business owners, as well as creative individuals, choose to copyright various kinds of work to ensure that their efforts are not misused by others. Unfortunately, copyrighted material is used in violation of the law far too often. Moreover, those who disregard copyright law have even more avenues to carry out this offense in the digital age. When copyrighted material is stolen, it can have an impact on copyright holders in a way that extends beyond financial loss. In some instances, opportunities may be squandered and those whose rights were violated may experience emotional distress.

If another business has ignored the copyright you placed on your work, and used your work to their advantage in a way which violates the law, you should immediately look at any recourse that is available. In fact, you may need to prepare to present your case in the courtroom, since these offenders clearly show no regard for the property of others or the restrictions imposed by the law. Regrettably, copyright infringement occurs at a high rate and some people do not think they have any options when they are targeted by this offense, especially if the offender is based in another country. However, this is not always true.

The importance of effective agreements

Whether you are starting a company or your business has been established for years, there are various business agreements you may have to sign. From employment contracts to an agreement with one of your suppliers or a shareholder agreement, you may have questions related to any number of contracts. If so, it is pivotal to understand how crucial it is to draft effective agreements. Our law office knows that these contracts can be tricky, but you need to ensure that your business is protected.

There are multiple reasons why effective contracts are so important. First of all, properly drafting a contract can help ensure that your business is protected and that things move forward properly. Moreover, these contracts can avoid some of the financial pitfalls and other problems that may arise with a poorly written agreement. Before signing, it is essential for you to make sure that all key areas have been covered thoroughly and that your interests are secured. Furthermore, an effective contract can help prevent confusion for parties on all sides of the agreement, which can help things move forward smoothly and reduce the chances of a dispute.

Drafting an effective operating agreement

If you are planning on launching a business, such as a limited liability company, you may have many different concerns and questions about how to move forward. You may find it helpful to break down the process step by step and focus on individual aspects of the business formation process, such as the creation of an operating agreement. When putting together this contract, it is pivotal to carefully go over the details of the agreement and make sure that you have a document which will protect your business in the years to come. At Codispoti & Associates, our firm knows how crucial it is to draft these agreements properly.

Your operating agreement should cover all key areas thoroughly and include all necessary provisions. This document will outline how internal operations will be carried out and some entrepreneurs may not be sure how to move forward during this phase of the business formation process, especially if they have never drafted an operating agreement before.

The financial ramifications of business lawsuits

As a business owner, it's likely that you come face to face with a wide variety of challenges in any given week. Whether you have disagreements with staff members or are unsure about a recent decision, managing business matters can be incredibly stressful. Unfortunately, lawsuits can significantly increase stress levels for business owners and Codispoti & Associates knows how financially devastating litigation can be. If you fear that a lawsuit is around the corner or already have a court date, you should take a close look at your various options and make sure you approach the case with care.

Business lawsuits can have a far-reaching impact in terms of financial consequences. Aside from court-imposed financial penalties, your business could be negatively impacted from a financial standpoint in even more ways. For example, your business could sustain serious damage to its reputation, causing long-time clients to take their business elsewhere and scaring off new customers. Moreover, crucial business relationships that are in place could be severed due to an unfavorable outcome in court, depending on the nature of the case.

Make sure you understand a commercial lease before signing it

Once you know that you are going to start a business, you have to decide where you are going to house the business. For some, finding a space to lease is the best option. If you are considering a commercial lease to have a space for your company, you need to make sure that you understand the lease before you sign it.

Commercial leases differ greatly from residential leases, so there are specific points that you need to be aware of.

What is a trademark?

From litigation over allegations of copyright infringement to registering a trademark, a number of legal issues may arise when it comes to intellectual property. However, it's important for business owners to have a clear understanding of the different terms and how they are defined according to the law. For example, some business owners may wonder what a trademark is and it is vital to find answers to these types of questions.

According to the New York State Library, businesses register a trademark in order to identify and distinguish the goods and services they offer from those offered by other businesses. Trademarks may be registered for symbols, devices, words, names, or a combination of the aforementioned items. If you are concerned that some aspect of your business will be stolen by one of your competitors, such as a logo or a creative name, it is important to ensure that you have protected your intellectual property. Regrettably, some businesses have neglected to register trademarks, resulting in the theft of their intellectual property.

  • NYSBA
  • Brooklyn Bar Association 1872 Justice Integrity Honor Courtesy
  • National Italian American Bar Association Representing The Italian American Legal Community
  • Columbian Lawyers Association of Brooklyn
  • Columbian Lawyers Association of Rockland County
  • The Copyright Society of the USA
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