Key Harrington Barnes, PC

July 2015 Archives

Starting a business in Texas

When Texas entrepreneurs are thinking of starting a business, it is important that they do so for the right reasons. Getting a business off the ground can be a difficult, long and labor-intensive task, so people should not decide to launch a new venture because they just want to be their own boss or want to avoid responsibility.

Strategic planning for growth

Texas business owners are mostly familiar with the fact that completing a business plan is important when forming a new company. Some, however, make the mistake of not revisiting the plan or not conducting annual planning to devise ways to increase revenue. With a strategic approach, however, it is possible to plan for and achieve annual revenue growth for a business.

Protecting a hashtag with a trademark

Protecting intellectual property through patents and copyrights is an important investment for many Texas companies. With the popularity of social media, some business owners may wonder how they can protect hashtags that they use for Internet marketing campaigns. Although hashtags do not qualify for patent or copyright protection, the words or short phrases in a hashtag may qualify for trademark protection.

Business owners advised to start thinking about sale early

Texas residents who own businesses or want to start them may find it helpful to look forward with an eye on eventually selling their firms. According to some advisers, owners should create viable exit plans from the very start, especially in fields that might require venture capital funding.

Succession plans rare among business millionaires

Many Texas entrepreneurs make considerable sacrifices as they work diligently to build their businesses, but a June 23 survey released by U.S. Trust indicates that many of them likely pay little attention to what would happen to their ventures if they were to pass away. The survey looked at the behavior of 118 business-owning millionaires, and it reveals that almost two-thirds of them have no succession plan in place.