Archive for the ‘Resources’ Category
Imitation is not only the best form of flattery, but it can also be a shortcut to success. That is the law and concept of franchising. Many businesses, even new ones achieve success by being innovative, adaptive and aggressive. When these three qualities are ever-present in a business, there’s no way to go but up. Companies like McDonalds, Apple and even Facebook have these qualities but not everyone can have them immediately. Not everyone who engages in business can have them without extensive experience.
So how can any entrepreneur achieve success without having to go head-to-head with other vibrant businesses? The key is to follow or at least temporarily follow other businesses. The key is to imitate the business model of other businesses. They key is to sell the products and services that they sell. The key is acquiring a franchise.
Many successful companies offer franchising to entrepreneurs who want them. These companies themselves benefit by expanding their reach to places they consider successful but otherwise have no resources or will to expand just yet. They also benefit financially from franchise fees as well as partial profit from supplied inventory. The entrepreneur on the other hand benefits from the successful name or the popularity of the business. He also benefits and learns from the successful business model of the franchisor which he can apply or adapt to other businesses.
The common types of business that can be franchised are food businesses like McDonalds or KFC. The entrepreneur gets to use the McDonalds name and business model. He cannot add to it that is not endorsed by McDonalds. McDonalds supplies the training for personnel as well as most of the inventory. The entrepreneur handles the rest. Customers won’t have a clue if their local restaurant is owned by someone else unless they read the receipts fine print.
If you are considering establishing a Franchise contact us at 214.550.6455 for a free consultation.
A trademark is a word, phrase, symbol, or design or a combination thereof, that identifies and distinguishes the source of the goods of one party from those of others.
A service mark is the same as trademark, except that it identifies and distinguishes the source of a service rather than a good.
A trademark generally protects brand names and logos employed on goods and services. One may establish right to use a trademark based on use of the mark in commerce. Thus formal registration is not required but is encouraged to protect a trademark.
Registering a trademark on the Principal Register provides several advantages:
(a) Public notice as to claim of ownership;
(b) Legal presumption of ownership;
(c) Ability to bring an action;
(d) Use of the registration as a basis to obtain registration in foreign courts;
(e) Ability to record the registration with U.S. Customs and Border Protection Service to prevent importation of infringing goods;
(f) Right to use the federal registration symbol;
(g) Official listing of the mark in the United States Patent and Trademark Office’s online databases.
A claimant may use a “TM” (trademark) or “SM” *service mark” as an alert to the public as to superiority of use in the mark. The United States Patent and Trademark Office reviews trademark applications and determines whether the applied for mark meets the requirements of registration.
If you are considering trademarking please contact our office for a free consultation.
A mortgage involves the transfer of an interest in land as security for a loan. The mortgagor and the mortgagee generally have the right to transfer or assign their respective interest in the mortgage. Standard contract and property law provisions govern the transfer or assignment of any interest. There are several different types of mortgages available.
Fixed Rate Mortgage
A fixed rate mortgage carries an interest rate that will be set at the inception of the loan and remain constant for the length of the mortgage. A 30-year mortgage will have a rate that is fixed for all 30 years. At the end of the 30th year, if payments have been made on time, the loan is fully paid off. To a borrower the advantage is that the rate will remain constant and the monthly payment will remain the same throughout the life of the loan. The lender is taking the risk that interest rates will rise and it will carry a loan at below market interest rates for some or part of the 30 years. Because of this there is usually a higher interest rate on a fixed rate loan than the initial rate and payments on adjustable rate or balloon mortgages. If the rates fall, homeowners can pay off the loan by refinancing the house at the then lower interest rate.
Adjustable Rate Mortgage
An adjustable rate mortgage (ARM) provides a fixed initial interest rate and a fixed initial monthly payment for a short period of time. With an ARM, after the initial fixed period, which can be anywhere from six months to six years, both the interest rate and the monthly payments adjust on a regular basis to reflect the then current market interest. Some ARMs may be subject to adjustment every three months while others may be adjusted once a year. Also, some ARMs limit the amount that the rates can change. While an ARM usually carries a lower initial interest rate and lower initial monthly payment, the purchaser is taking the risk that rates may rise in the future.
Owner Carryback and Financing
An alternative form of financing, usually a last resort for those who cannot qualify for other mortgages, is owner financing or owner carryback. The owner finances or “carries” all or part of the mortgage. Owner financing often involves balloon mortgage payments, since the monthly payments are frequently interest only. A balloon mortgage has a fixed interest rate and fixed monthly payment, but after a fixed period of time, such as five or ten years, the whole balance of the loan becomes due at once. This means that the buyer must either pay the balloon loan off in cash or refinance the loan at current market rates.
Home Equity Loan
A home equity loan is usually used by homeowners to borrow some of the equity in the home. Doing so may raise the monthly housing payment considerably. More and more lenders are offering home equity lines of credit. The interest may be tax DEDUCTIBLE because the debt is secured by a home. A home equity LINE OF CREDIT is a form of revolving credit secured by a home. Many lenders set the credit limit on a home equity line by taking a percentage of the home’s appraised value and subtracting from that the balance owed on the existing mortgage. In determining the credit limit, the lender will also consider other factors to determine the homeowner’s ability to repay the loan. Many home equity plans set a fixed period during which money can be borrowed. Some lenders require payment in full of any outstanding balance at the end of the period.
Home equity lines of credit usually have variable rather than fixed interest rates. The variable rate must be based on a publicly available index such as the prime rate published in major daily newspapers or a U. S. Treasury bill rate. The interest rate for borrowing under the home equity line will change in accordance with the index. Most lenders set the interest rate at the value of the index at a particular time plus a margin, such as 3 percentage points. The cost of borrowing is tied directly to the value of the index. Lenders sometimes offer a temporarily discounted interest rate for home equity lines. This is a rate that is unusually low and may last for a short introductory period of merely a few months.
The cost of setting up a home equity line of credit typically includes a fee for a property APPRAISAL, an application fee, fees for attorneys, TITLE SEARCH, mortgage preparation and filing fees, property and TITLE INSURANCE fees, and taxes. There may also be recurring maintenance fees for the account or a transaction fee every time there is a draw on the credit line. It might cost a significant amount of money to establish the home equity line of credit, although interest savings can justify the cost of establishing and maintaining the line.
The federal Truth in Lending Act requires lenders to disclose the important terms and costs of their home equity plans, including the APR, miscellaneous charges, the payment terms, and information about any variable-rate feature. If the home involved is a principal dwelling, the Truth in Lending Act allows 3 days from the day the account was opened to cancel the credit line. This right allows the borrower to cancel for any reason by informing the lender in writing within the 3-day period. The lender must then cancel its security interest in the property and return all fees.
Second Mortgage
A second mortgage provides a fixed amount of money repayable over a fixed period. In most cases the payment schedule calls for equal payments that will pay off the entire loan within the loan period. A second mortgage differs from a home equity loan in that it is not a line of credit, but rather a more traditional type of loan. The traditional second mortgage loan takes into account the interest rate charged plus points and other finance charges. The ANNUAL PERCENTAGE RATE for a home equity line of credit is based on the periodic interest rate alone. It does not include points or other charges.
Reverse Mortgage
A reverse mortgage works much like traditional mortgages, only in reverse. It allows homeowners to convert the equity in a home into cash. A reverse mortgage permits retired homeowners who own their home and have paid all of their mortgage to borrow against the value of their home. The lender pays the equity to the homeowner in either payments or a lump sum. Unlike a standard home equity loan, no repayment is due until the home is no longer used as a principal residence, a sale of the home, or death of the homeowner.
The ubiquity of concealable camera phones and the popularity of DSLRs with telephoto lenses often poses the question “What am I allowed to photograph legally?”
The Right to Photograph:
In general you may take a photograph of whatever subject you want when you are in a public place or you have express permission. In general You don’t need consent to photograph somebody unless they have a “reasonable expectation of privacy” examples including dressing rooms, public bathrooms, in their homes, etc. Other limits may include military and nuclear sites. Permissible subjects include: law enforcement officers (but you may not interfere with law enforcement activity, investigations or risk officer safety) children, airports and more.
A lot of great photos are captured when the subjects aren’t aware that a camera is around. It captures people in their natural state.
Nobody can confiscate your film/photographic data without a court order or warrant or a law enforcement officer that has arrested you. If an individual threatens or ‘detains’ you, you may have a case for legal action against them.
A great resource on the subject is “Legal Handbook for Photographers” By Bert P. Krages and his “Pocket Guide” (PDF)
Next time you take a photo and the subject asks to see the photo to check if they blinked, or they “look funny” and demand you delete it, you can assert your rights
Next weeks photography law post will discuss copyrights and sharing licenses.
UPDATE: My photographer friend asked me about commercial uses of photographs. There is a distinction between Publisher and Photographer, but they can often be the same individual. Most often if you publish a photograph with a person (model) and the predominant purpose is for monetary gain,(Ex.advertisements) then you must get a release from the model. News articles and non-monetary uses don’t require a release.
This post is not legal advise and does not establish an attorney/client relationship. For specific fact situations consult with an attorney. please read our Disclaimer.
These days sharing your images online and protecting them from undesired/unlawful use has been seen as a misnomer. Luckily there are methods to protect your works if you desire to retain all your rights to your photos.
Display with Flash Viewer
There are plenty of free and easy methods to display photographs. Many of these methods require yout to have a basic understanding of html, but many have clear instructions on how to set them up on your website. The one’s I’ve previewed don’t have “save as image” protection automatically, so you’ll have to choose one that makes it the easiest
While this method is helpful, it doesn’t stop the infamous “Prnt Scrn” method of copying visual works. It also requires that you have a web host and website/blog with considerable coding freedom. (aka not Flickr/Picasa Web etc) Comes to play two other methods.
Use Tiny Thumbnails
Most “infringers” will want to enlarge photos for social media and background use. While this method doesn’t allow users to see details, it gives the viewer a visual “summary” of the works.
Watermark your Images
My friend Jillian Betterly used this method to preview wedding photos for her clients. She would display samples of photos she took with a heavy watermark of her logo. She placed the watermarks right above the subject of interest within the photo, such as smiling faces.Clients or anybody wanting a copy of the photos would submit orders and she would deliver their memories without watermarks. The watermark would still allow prospective purchasers to see the areas of interest within the photos, but make it indesireable for them to copy it for their personal use without paying for her ” visual memory capturing” and printing services. This method is also used by many stock photo purchase services.
Using all three methods together and tweaking them to your liking you’ll make it difficult for would be infringers to take your works.
I’ll often argue that artists should be able to desire how their works are licensed or ultimately used. The methods mentioned above are for artists who desire to retain their rights completedly under copyright law.
For the people who desire that art be ‘released into the wild’, with no desire for profit, there are alternative licensing schemes. We’ll discuss Creative Commons Licensing schemes in the next post!