Many small business owners fail to realize just how valuable their intellectual property is. But the fact is, intellectual property (IP) makes up between 40% to 90% of the total value of some companies, according valuation experts. Given this, it’s extremely important that these assets are well protected if you have them—and you probably do, even if you’re not aware of it.
The Dirty Little Secret Most Business Owners Won't Talk About: when it comes to the dry, nitty-gritty parts of running a business—crunching numbers, negotiating contracts, dealing with insurance, and managing taxes—you likely don’t have nearly the same passion or surety. You might project an outer facade of confidence about the state of your company, but you may secretly fear that it’s going to fail.
If you are relatively new in business, you may find that one of your biggest challenges is facing the reality that the people in your life aren’t taking your entrepreneurial endeavors seriously.
As we’ve "flattened the curve” of COVID-19 infection here in the United States, some states like Alaska, Georgia, and Minnesota, have started to slowly reopen the doors of non-essential businesses. Some have been eager to do so, others have been very opposed, but still others are on the fence. The exponential growth of the virus throughout the country seems to have slowed or leveled off in some places, but the threat of getting infected is absolutely still present. All the same, people (possibly including you) are worried about their livelihoods, paying their rent, and keeping their businesses alive.
Right now, huge numbers of people are coming face to face with their own mortality, and realizing they need to plan for the worst. This goes not just for those of us in the “senior” category, but for all of us, no matter our age. We are facing the reality of our mortality, and many of us are doing it courageously by taking this as an opportunity to learn what we need to do for the people we love.
There’s no doubt that your parents have survived frightening world events, whether that was World War II, the war in Vietnam, nuclear threat, illness, poverty, civil unrest, or all of the above. However, the use of the word “unprecedented” regarding what’s happening now is not an exaggeration. And they may not understand it all or what they should do, not because they aren’t wise, but because the news has been confusing to interpret.
Hawk Legal Collective's big picture of Covid-19 stimulus money, and what else you may have access to now.
There isn’t a single person who isn’t impacted by the spread of COVID-19, in some way. With the sheer number of businesses, public spaces, and schools closing, we are all finding ourselves in positions we very likely have not planned for very well.
While it’s still hard to tell how the Coronavirus will impact us in the long term, it’s become a subject that’s impossible to ignore. While some are advocating we prepare to be quarantined, potentially for months, others are saying the virus is nothing more than a common cold. The World Health Organization takes a more middle-of-the-road approach, advising we take precautions without becoming alarmed. Whether the coronavirus is a dangerous pandemic or just a common cold, there is the possibility that your business could be affected due to public perception and fear. We’re going to empower you to make informed decisions for your business.
