Business Basics

May 2005
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In this Issue
Joke of the Month
Business Tip of the Month
Website Ownership and Bankruptcy
Free Initial Consultation
Market Your Business
List of Services

About Us
Andrew Traub Attorney Lawyer Austin, Texas
The Traub Law Office is a Full Service Law Firm located at 8601 RR 2222.
Andrew Traub is my name, and I want to help you and your business. Call me at 343-2572 or email me.

Free Initial Consultation
Did you know that the Traub Law Office offers a free initial consultation?
Part of my dedication to my clients is ensuring that there is a good fit between you and I. The purpose of the free initial consultation is for you to tell your story, learn about me, and then we can decide whether we would work well together. There is no obligation on your part, so why not schedule a free initial consultation today?

Joke of the Month
FRIVOLOUS LAWSUITS
The attorney representing a convicted murderer sued the state of Indiana for transfer to a women's prison on the grounds that his client's sentance for life imprisonment in an all-male prison was cruel and unusual punishment because it imposed upon him a lifetime of celibacy.
forward email

 Business Tips
Ten reasons to have an attorney:
1) To select the right business structure for liability protection
2) To minimize taxes
3) To prevent problems before they become lawsuits
4) To collect debts
5) To review contracts which provide maximum advantages should you get in a dispute
6) To mediate conflict
7) To have a professional advisor for your important decisions
8) To make sure your heirs get their rightful inheritance instead of the IRS
9) To keep you up-to-date on labor laws that affect you and your employees
10) To extricate you from problems you've already gotten into


 News
As use of the Internet becomes more widespread, more people will obtain intellectual property rights in Web sites they create and domain names they own. Are these considered assets for the purpose of bankruptcy?

Under the bankruptcy code, any intellectual property rights of a debtor are considered property of the bankruptcy estate.

However, the bankruptcy code does not determine the scope of intellectual property rights, which are defined in copyright law, trademark law, or patent law. Under these laws, Web sites and domain names have various copyright and trademark rights. If a debtor owns those intellectual property rights in the Web site, they will be considered part of the bankruptcy estate.

Factors to Consider
Determining the value of a particular intellectual property right, such as the value of a Web site or domain name, is somewhat difficult. Many factors must be considered:
  • Whether the domain name or Web site is in use
  • Whether it is generating income and how much
  • Whether the Web site or domain name has value and is in a market that generates advertising income from other businesses
Intangible Value
In the bankruptcy context, treatment of Web sites and domain names as assets of the debtor remain uncertain. These items are intangible, with no easily ascertainable value, particularly where a Web site and domain name are personal in nature and not for profit. In this case, the bankruptcy trustee may believe the value, if any, is negligible.

However, where the Web site and domain name are owned and operated by a debtor in connection with his or her business, there may be significant value. Currently, no exemption amount exists for these types of intellectual property rights.
Business of the Month
WSI Internet Consulting Austin is a wonderful place to do business. It is a fairly young, well educated population that takes advantage of today's technology. A big part of that technology is the Internet. In order to compete effectively in this marketplace, you have to have an Internet presence that helps turn prospects into customers. Even if you only sell goods or services on a local basis, a website is still an important marketing tool for your business. People use the Internet to pre-qualify potential companies that they may want to do business with in the future. A good website can clearly describe your capabilities and give prospects a higher level of confidence in your products and services based upon the look and feel of your site. A website that is well done can make small businesses appear to be large and well respected but at the same time a poorly constructed website can actually create a negative image in a prospect's eyes, even before they ever have any contact with a business. So it is extremely important to have a website that reflects the right image to your Internet visitors.

Another aspect in taking advantage of the Internet as a marketing tool is that your website has to be found. Search Engine Optimization can make a tremendous difference in driving traffic to your website. Remember, you are still competing with a lot of other businesses out there that have already discovered the benefits of the Internet. Even with a good website, you have to be one step ahead of your competition to be successful.

To get ahead and stay ahead of your competition, contact Marc Bone of WSI at 338-4054 or by email.
Services Offered by the Traub Law Office

Here is a partial list of the services we offer:
  • Entity Formation: Limited Liability Companies, Corporations, Limited Partnerships, etc.
  • Trademark Search and Registration
  • Buy-Sell Agreements
  • Debt Collection
  • Employee Non-Compete Agreements
  • Sales Agreements
  • Contract Reviews
  • Contract Creation
P.S. My business is completely by referrals so if you know of someone who is in need of legal assistance, please send them my way. You have my promise I will provide excellent service!

P.P.S. If you liked this newsletter you can forward it to a friend or colleague.


You can view a web version of this newsletter, as well as past newsletters

This newsletter is designed for general information only. The information presented in this newsletter should not be construed to be formal legal advice nor the formation of a lawyer/client relationship.
8601 RR 2222, Building I, Suite 104 € Austin, Texas 78730 € Phone: 512-343-2572 € Fax: 512-597-0200
Copyright © 2004 The Traub Law Office. All Rights Reserved