Articles Posted in Corporate-Business

With the outbreak, more employees are working from home than ever before, and for many businesses, it has become necessary to revisit policies concerning the protection of trade secrets. It can be a challenge to keep proprietary information safe when employees need access to it from home, but it can be done with adequate protocols set in place.

Establishing Trade Secrets

The first principle of protecting trade secrets is to make sure they are legally recognized as such. In order for something to be considered a trade secret, you must have reasonable measures in place to protect it. Without those measures, it’s likely to lose that classification in a court of law.

With more people working from home than ever before, there are much greater odds of sustaining a work-related injury while out of the office. Slips, falls, and repetitive strain injuries can easily happen with home-based work, and they may warrant compensation in the right circumstances.

Self-Employed Workers

First of all, however, a worker who is an independent contractor does not qualify for workers’ compensation. Illinois workers’ comp covers only employees, not self-employed independent contractors. As such, if you are running a home-based business of your own, you won’t qualify for compensation from any of your clients.

With concerns about infectious disease going around, it’s more important than ever for employers to maintain a healthy work environment for their employees. There are many ways to accomplish this, but they all require diligent effort.

Workplace Wellness and Employer Liability

Before we get into the details on how to keep your work environment as healthy as possible, it’s worth noting where employers are liable when it comes to the health of their employees.

A well structured business will have a compliance program in place, complete with company policies, safeguards, and reporting avenues. However, eventually, most businesses will face some form of compliance issue regardless of their efforts to prevent them. In that situation, how do you respond?

Before Anything Else, Don’t Panic

In the event that someone reports a compliance problem in your business, whether it’s a simple violation of company policy or a serious legal breach, it’s important to realize that no compliance plan is foolproof. Unfortunately, these kinds of events are normal, but lawmakers do realize as much.

Asset protection for business owners can be complex, especially when business activities may put personal property at risk. Fortunately, there are many strategies business owners can use to protect personal and business property.

Advantages and Drawbacks of an LLC

One of the most effective asset protection strategies is the limited liability company. LLCs separate the owners’ personal assets from those owned by the business, so if the company comes under fire, the owners’ personal belongings are kept safe from seizure.

Regulations, business trends, and socioeconomic factors can all impact the way corporations are run. As those factors change, so too will corporate governance best practices. In 2020, some of the major trends that corporations will need to account for are:

  • Increased digitization
  • Shifts in workplace culture

Your business’s intellectual property is among its most valuable assets, and it’s important to protect it. However, there may be instances where it is advantageous to let other entities make use of your patents, trademarks, and other IP.

Licensing your intellectual property can yield various benefits to your business, but it does come with its risks as well.

Advantages of Licensing

One way to raise capital for your business is to issue stock. There are many advantages to doing so, but also some drawbacks that are worth remembering. Because of those drawbacks, there are a few items to keep in mind when issuing stock.

Reasons to Issue Stock

Issuing stock can be beneficial for your business in the following ways:

Starting a new business is an exciting venture, but just because you’re excited about your new idea doesn’t mean investors necessarily will be. It’s actually harder for new startups to raise capital today than it was a decade ago, with new startups having to prove they’ll generate revenue before they’ll ever attract investors.

So how do you know if your idea can raise venture capital? Here are a few questions that should help you make the decision of whether to spend time raising investment funds.

Is Your Idea Worth the Risk?

Corporate governance demands high levels of efficiency and transparency, and the implementation of new technologies has aided in that endeavor. There are many ways in which technology can aid in these matters, but it may also present some risks as well.

Higher Transparency and Accuracy

When used well, technology allows for more consistent transparency and accuracy of data. Databases with dedicated portals help company leaders access information without rifling through physical filing cabinets, and databases can be configured to limit access to only those with the right amount of clearance.

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