Willcox, Buyck & Williams, PA Blog

Monday, January 16, 2017

Business Plans in a Nutshell

How can I prepare a business plan?

If you're planning to start a new business in 2017, having a well designed business plan is essential for attracting investors or other sources of capital. Moreover, creating a business plan is an essential first step in launching a new venture. This document establishes what your business does, where it plans to go, and how it plans to get there. In other words, it's your roadmap to success.

In short, a well crafted business plan will include a description of the business and the leadership team, the target market, what sets you from the competition, and last but not least, financial projections.

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Monday, December 19, 2016

Are Customer Lists Trade Secrets?

Many businesses have customer lists that they consider their own private property.  It is common, however, for sales representatives and other employees to regard customer lists as theirs too, something they can take to a new employer. Employment agreements, confidentiality agreements, non-competes, and non-solicitation agreements can all be used to eliminate confusion over whether a customer list is transferable or not. 

In the absence of clear contractual protections, however, case law and state trade secret laws may decide whether a list is the exclusive property of a business.

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Wednesday, December 14, 2016

Corporate Bylaws in a Nutshell

What should my business include in its corporate bylaws?

One of the key foundational documents for corporations and partnerships are corporate bylaws which establish the rules for the internal operations and governance of the entity. Unlike Articles of Incorporation, bylaws are not filed with the Secretary of State in South Carolina. While the state does not require businesses to create bylaws, this document is essential for establishing the day-to-day operations of an organization.

Bylaws also serve to make your business more legitimate in the eyes of state and federal authorities, financial institutions and investors. In fact, it you are seeking a business loan or venture capital, banks and other financiers typically request copies of foundational documents as part of their due diligence.

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Monday, November 28, 2016

Patheon to take over Roche Carolina facility

Patheon has plans to take over the Roche Carolina Inc. facility, company officials announced today.

With U.S. headquarters in North Carolina’s Research Triangle Park and European headquarters in Zug, Switzerland, the pharmaceutical company signed an agreement to integrate Roche Carolina’s 300,000-square-foot site into the Patheon network.
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Wednesday, November 23, 2016

Employment Discrimination Laws In A Nutshell

How can I protect my business from employment discrimination claims?

Business owners need to be aware of a variety of state and federal laws, not the least of which are employment discrimination laws. In short, these laws prohibit employers from discriminating against employees and prospective job applicants when making any employment decision, including hiring, firing, promoting, demoting or compensating employees. These laws also make it illegal to discriminate regarding any other terms and conditions of employment.
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Tuesday, November 22, 2016

A Primer on Employee Handbooks

Does my small business need to have an employee handbook?

Regardless of the size of your business, it is crucial to clearly define your expectations and policies to employees. To achieve this objective, it is essential to have formal rules established in an employee handbook. With a written handbook in place, you can clarify the relationship with your employees so that there is a mutual understanding what you can expect from each other.

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Sunday, November 13, 2016

South Carolina Bans Online Eye Exams and Opternative Brings Lawsuit

These days you can do almost everything online- grocery shop, find a date and even get an eye exam. If you are outside of South Carolina, that is. This State just passed a hotly contested law banning the practice.

Opternative is a web-based company that offers online eye exams. The eye exams are administered using a computer display and a wireless device, such as a smartphone.

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Sunday, November 13, 2016

Obscure Ordinance Affects Lexington Business Owner’s Display

Small businesses are the heart of the American economy. If you are a small business owner and you hold certain beliefs, you might want to use your business property to put those beliefs on display. As long are you are not discriminating against anyone, you should be able to do that.

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Sunday, September 25, 2016

Global Law Firm Releases 2016 Survey of Litigation Trends

What does the Norton Rose Fulbright survey show for 2016?

The 2016 Litigation Trends Survey recently released by global law firm Norton Rose-Fulbright polled more than 600 corporate counsels representing companies on issues related to disputes. As we all know, preventing, managing, and negotiating business disputes are an important component of running a business. If you become involved in a business dispute, it is crucial that you contact a highly competent business attorney to advise you and provide you with viable options.

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Sunday, September 25, 2016

Selecting the Right Corporate Entity for Your Business

What business entity is right for me?

Choosing a corporate entity is one of the most important initial decisions you will make for your business.  Your entity selection can affect your control and management of the business, funding eligibility, the number of shareholders and partners, taxes, and much more.  When forming a new business, you should keep two important things in mind:

  • Entities are state specific.  When you incorporate or organize, it is done at a state level, and your entity will be subject to the laws of the individual state.
  • Your corporate entity selection may not match your tax entity.

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Sunday, August 28, 2016

Challenges Arise Over Use of Non-compete Agreements

What is the future of non-compete agreements?

The debate over the use of non-compete provisions in employment contracts continues to stir as state and federal regulators push back against the inappropriate use of these provisions for low-wage workers. In New York, for example, the state Attorney General has been actively challenging the use of these restrictive covenants and recently announced settlements with three companies that will effectively end their use of non-competes. These settlements come on the heels of a report issued by the White House in May 2016 that criticized the use of non-compete agreements.

The report, based on a Labor Department study conducted in March, questions the extent to which many employees actually have access to proprietary information and the effectiveness of non-competes in preventing the misappropriation of trade secrets. In sum, the federal government has taken the position that workers are unfairly hampered from negotiating for better compensation and benefits and are often prevented from advancing in their fields by overly restrictive non-compete provisions.

Read more . . .

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