Keeping Track of The Competition: Monitor Their Intellectual Property

As businesses grow and develop, so do their intellectual property (IP) assets. And if these businesses are engaging in proper IP management, they are filing trademark and patent applications to protect their IP. However, because of the public nature of both trademark and patent prosecutions, one may get an inkling of their competitors’ business plans if they monitor these application filings. Though not a perfect way to predict the exact nature of your competitors’ future offerings, keeping track of IP filings can be a guide to where your competitors are moving.

Important Agreements When You Sell Your Business

When working through a business sale, an inordinate number of resources on both sides of the table are dedicated to drafting and negotiating the Stock Purchase or Asset Purchase Agreement. This is true especially in the last one-to-two weeks before the closing. In fact, I’ve had clients remark that during their entire tenure as an entrepreneur, they never spent as much time speaking to their advisors as they did during the last week of their business ownership journey!

Selling A Business: Asset Acquisition vs. Stock Acquisition

So you’ve decided to sell your business, but what structure is right for the transaction? Buyers and sellers often prefer different structures due to various factors which change based on the structure and which have different impacts on the parties. Generally there are three (3) categories of factors that drive the eventual structure of a deal: (1) business issues, (2) assignments and consents, and (3) tax issues.

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What is ExitPromise?

We help small business owners grow and sell valuable businesses by answering questions, offering access to articles, research-based whitepapers and tools. With one eye on the ultimate transfer or sale of your business, we help you keep your “Exit Promise”.

Our website was founded by Holly Magister, a self-diagnosed serial entrepreneur. Holly successfully built and sold several businesses of her own, and she’s helped dozens of others do the same (she’s also a CPA, and a Certified Financial Planner specializing in Exit Planning). Our team of contributing authors is the best in the business, sharing best practices and practical tips to help you improve your businesses. Most importantly, ExitPromise offers unbiased information to its visitors. We’re not selling business plans, professional services, or insurance products nor do we bill in six-minute increments! In fact, we don’t bill at all. ExitPromise is Free.