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Denver Business and Commercial Law Blog

A business plan is important for meeting entrepreneurial goals

When someone wants to start a business, it is not as easy as simply having an idea and finding a place to set up shop. Often, it takes extensive planning before a budding company can come close to opening its doors. As a result, Colorado entrepreneurs may want to focus on their business plan and steps toward achieving their desired goals.

A business plan is an important part of starting a business because it can track the intended time that an entrepreneur hopes to reach certain milestones and how he or she plans to meet those goals. Of course, details can change at any time, which is why it is wise to remain flexible with the plan. Staying too rigid could result in a company being unable to account for unexpected events, but a plan that is too vague may not provide much confidence that the goals are achievable.

Properly managing capital during economic difficulties is vital

The state of the economy is in constant flux. Colorado business owners need to stay on top of these changes to ensure that the actions they take relating to their companies are well-suited to the current economic state. That does not mean putting everything on hold when the economy is facing a downturn, but it does mean staying conscientious regarding how capital is used and protected.

Protecting capital in an uncertain economy is certainly important. During such times, business owners can continue to invest in their company. Holding on to capital in hopes that the economy will take an upward turn is not necessarily a beneficial action. Instead, reinvesting in the company itself could help it improve and maintain stability throughout various economic changes.

Selling a business can be a long but profitable experience

Often, starting and growing a business is the highlight of many Colorado residents' lives. They likely have put years of hard work, time and money into their company in hopes of creating a successful venture. Even when the desired success is reached, it does not always mean that an owner wants to continue with the company. As a result, there may come a time when selling a business is needed or desired.

One main goal of selling a company is to make a profit. As a result, it is often wise to sell before the going gets rough. When a company has reached peak performance, selling at that point could better ensure a higher profit. Of course, it can be difficult for an owner to sell while he or she feels that the company is doing its best, but that is the type of decisions that need to be made in this scenario.

Tactics could help entrepreneurs with business growth

Starting a business is a major accomplishment for many Colorado entrepreneurs. However, the work does not stop there, and business owners need to think about ways to continue business growth. It can be difficult to know the right direction to take, but business tactics could help.

Many business owners have strategies that include the goals they want their companies to reach. While these strategies are certainly important, tactics can help achieve those goals because they are the specific actions that business owners want to take and the resources they can use to reach various milestones. Essentially, the tactics show how an entrepreneur plans to reach the goals set forth by his or her strategies. It is important to remember that strategies and tactics work together for growth.

Cyberbullying is a real problem for some Texas businesses

Colorado employers should strive to ensure that their employees have a safe work environment that is free from harassment and discrimination. However, this can be more difficult to do now that many employees are working from home. Unfortunately, cyberbullying and harassment is becoming a more prominent concern as many businesses have shifted to allow employees to work remotely.

Harassment can still happen digitally, however. Outright threats and more inconspicuous types of bullying can cause emotional harm, even if it takes place over the internet. If you believe you are experiencing this type of treatment, you do not have to suffer in silence. Even if it does not happen face-to-face, it could be grounds to move forward with a civil claim against your employer.

Privacy concerns leave Google facing business litigation

Being upfront with clients and customers is important to most business owners. Of course, even if owners believe that they are giving consumers all the information they need, some may feel as if they were kept in the dark. Unfortunately, if consumers believe that a company did not properly inform them, business litigation could result.

Colorado readers may be interested in a class action lawsuit recently filed in another state against Google. Apparently, three plaintiffs are associated with the lawsuit, which claims that Google intentionally deceives consumers when it comes to the privacy provided by using the incognito mode feature in the Google Chrome internet browser. Analytics data is reportedly still collected and sent to websites visited when using incognito mode even though the feature does not save search history, site data, cookies or certain other information. The lawsuit is seeking a minimum of $5 billion in damages.

Employers, remember to consider the legality of COVID-19 tests

Our law firm understands that almost everyone has numerous concerns over returning to work in these difficult times. Though many Colorado business owners are eager to get operations back underway, it can be tricky to convince workers of the benefits, especially when health risks could be involved. Some employers may consider setting up testing for COVID-19 in hopes of providing more protection.

Of course, we know that some concerns over the legality of testing employees for the virus could arise. Though setting up tests for workers is legal, the tests must be completely voluntary. If employers begin requiring tests, it could potentially put them in the position of violating the law due to the protections provided to employees regarding their personal health information.

Colorado employees concerned about lifted stay-at-home orders

In the current climate across the world, we understand that many Colorado employees and employers are facing serious concerns about going to work. In recent weeks, individuals deemed essential workers had to continue working regardless of stay-at-home orders and undoubtedly have concerns about their health and the health risks they pose to their families. As the state works to lift stay-at-home orders and reopen various establishments previously considered nonessential, many employees will likely face the requirement of going back to work or losing their jobs entirely.

Our firm recently provided legal insight into employment matters that are affecting numerous individuals. Many employees want to stay out of work to protect themselves and their families from the risk of COVID-19, but that may not be an option. Individuals worry that staying at home will mean losing their jobs and will result in losing health insurance and other benefits provided by their employers. Even individuals with compromised immune systems and underlying health conditions may feel as if they have to go to work to maintain financial stability.

How can business owners protect intellectual property?

Running a business can mean having to come up with unique and innovative ideas that set a company apart from the competition. For some Colorado business owners, these ideas may flow easily, but it is important that they take the proper steps to protect their ideas and other intellectual property. Otherwise, competitors could try to copy those ideas.

Luckily, there are various options for protecting IP. The exact type of information or idea involved will dictate the type of protection a business owner needs. For example, if a company comes up with the specific logo that it wants its customers to easily recognize as its own, the company owner could pursue a trademark of the image to ensure that other companies do not use the same image or one similar in efforts to confuse customers.

Older employees may face discrimination in the workplace

When you go to work, you are not thinking about your age and how it could possibly affect your ability to do your job. You simply go to work and do what you're supposed to do. You may be older than some of your co-workers, or maybe you've been with your employer for decades, but you are no less valuable because of those things. 

Unfortunately, older Colorado employees sometimes have to fight for their rights in the workplace. Despite state and federal laws in place that prevent it, age discrimination is still a problem that affects many. If you believe you are a victim, you may be unsure of how to react and move forward, and you may fear repercussions if you speak out. You do not have to face this unfortunate situation alone.

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