The Business Mind

Volume 01. September 2016

ISSUE 001

Price FREE

THE

Business Mind Practical and Preventive Business Acumen

Burn Brighter LEADERSHIP

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SALES

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MARKETING

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LEGAL

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ACCOUNTING

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ENTREPRENEURSHIP

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Editor In Chief Noel Bagwell Executive Legal Professionals PLLC Creative Director Devon Bagwell Contact hello@executivelp.com Address 3102 West End Ave, Suite 400 Nashville, TN 37203

EXECUTIVE LEGAL PROFESSIONALS PLLC, THE BUSINESS MIND DIGITAL MAGAZINE

THIS DIGITAL MAGAZINE IS AN ATTORNEY ADVERTISEMENT. 2016

Issued: 9/15/2016

Price: FREE

Nothing contained herein should be considered an offer to provide legal services to any person or entity.

No attorney-client relationship results from the provision or consumption of the material contained in this Digital Magazine.

None of the material contained in this Digital Magazine should be considered "Legal Advice," nor should anything contained herein be substituted for the advice of a licensed attorney.

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The Business Mind CONTENTS

EDITOR INSIGHTS: Burn Brighter

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Five Tips for Seasonal Productivity

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Leadership:

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Leadership Lessons: Leading Combat Troops SALES:

Chuck Berry & the Secret of Good Salesmanship Entrepreneurship:

The Maker Trader Principle The Quarterly Oops:

Trademarks and What Not to Do Marketing:

The Key to Success: Your Personal Brand Legal:

Freelancers and Intellectual Property Rights Accounting:

Should I Hire a Bookkeeper?

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Burn Brighter Editorial by Devon Bagwell

I’ve been working with small business owners and leaders for several years. I’ve seen some reach peaks of success, others who never left the starting line, and still more who grow weary and tired from trying to run on empty. These weary business leaders are like a fire without a fuel source—destined to burn out. I get it. I’ve had months where my fiery passion has waned from trying to do it all and I have little left to pull from. So, how do you fan the flames?

How can a business leader reignite their passion for the business and continue to lead in such a way as to also ignite passion in those who surround them?

These are the questions which motivated us to launch our new quarterly digital magazine, The Business Mind. In order for a fire to burn, it must have access to fuel, oxygen, and a source of heat. The heat, of course, is your passion and desire to succeed. The fuel is education, encouragement, valuable networks, and other resources that keep your passion burning. Our focus on providing practical business advice and connecting you to the leaders who write our articles is our small way of fueling your professional passions. The oxygen is risk. With too little, your business smothers and dies. With too much, it can spread out of control and become a danger. The Business Mind’s focus on risk management and preventive issues will help you hone in on how to distinguish acceptable risks that allow your business to rise above the rest without exposing you to unnecessary risks that could burn everything down.

Executive Legal Professionals, PLLC has committed to providing this quarterly digital magazine full of practical and preventive business acumen, free of charge. It’s our hope that you will share this with your employees, your clients, your prospects, and your networks.

May your flame burn brighter so that you are able to rise above the rest.

BUSINESS MIND MAGAZINE SEPT 2016

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Five Tips For Seasonal Productivity BY: Noel Bagwell

It’s Business Season in Tennessee!

Every year, when the kids go back to school and you start to see tobacco barns smoking in the countryside outside the hustle and bustle of Tennessee’s cities, I get excited. The long, hot southern days start to get just a little shorter. The air is a little less hazy, the sun a little less scorching, and cool breezes a little more frequent. What really gets me pumpedup, though, is the knowledge that, once again, it’s what I like to call business season.

In Quarter One, you get a little postholiday pop of business, as folks try to recover from their vacations, catch up with the backlog of work they’ve been ignoring, and make some money to pay off the Christmas Credit Cards.

This fleeting moment of productivity evaporates by the end of March, though, as everyone starts gearing up for April 15th.

As we round the corner into Quarter 2, we’re still reeling from the Tax Day

body blow, and the scheduling nightmare of summer looms before us. Summer is almost always a terrible time of the year for business, because everyone’s on vacation–either literally or just mentally.

It seems like the folks stuck in offices at their nine-to-five are just workin’ for the weekend, lulled into a stupor by the siren song of Tennessee’s lakes or the poolside radios that blare out whatever the kids are dancing to this year.

The last two-thirds of Quarter 4 is consumed with last-minute continuing education, planning for the holidays, and trying to balance weather, traffic, shopping, and deadlines. From August until October, though, is Business Season–that glorious time of year when things get done. It’s harvest time. You’ve worked all year, and now it’s time to see your efforts rewarded with productivity.

When I smell the tobacco in the barns, to me, it’s the sweet smell of prosperity.

Making The Most of Your Business Season What are you doing to make the most of this business season? We have some seasonal suggestions. Here’s a top-five list of things we’re doing at Executive Legal Professionals, which you can do, too, to get more out of business season, this year.

(1) Bring in the harvest.

You probably have at least a couple of leads that have gone cold or just haven’t closed, this summer. A change in seasons is all the reason you need to reach out, and ask whether now is the time to close.

(2) Prepare for winter.

Are you facing some challenges in your business? Have you done any riskanalysis or risk-mitigation lately? How’s your legal protection? Now is the time to salt the proverbial walk to avoid an accident down the road.

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(3) Don’t leave the leaves in the yard.

You’ve had some new clients this year, but maybe they’re not the kinds of clients you want to keep around until next year.

Now is a good time to evaluate which clients you should fire and which to keep.

(4) Stock the barn.

Labor Day sales are great for stocking up on office supplies, buying professional clothes, and generally stretching your dollars a little further. Like a farmer putting up hay for his cows, make sure you have what you need.

(5) Dress for cool.

Take a look at your wardrobe. You can’t

go into a business meeting in the sandals and shorts you might have gotten away with over a coffee meeting this summer.

Make sure you’re dressing to impress this fall!

We hope you have a productive, fun Business Season! Please let us know if you need legal assistance. Whether you are considering ending a client relationship, closing a deal which might require a contract, considering purchases which could have tax planning implications, or just generally trying to address businesslegal risks before they become expensive legal problems, Executive Legal Professionals is here for you.

About the Author

Noel Bagwell is President & Chief Legal Counsel for Executive Legal Professionals PLLC, an innovative business law firm headquartered in Nashville, TN. ExecutiveLP.com

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EMAIL NOEL

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BUSINESS SEASON PROMOTION

JUST START.

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It’s time to embrace the business season!

Start organizing, start producing, and see success.

ExecutiveLP is here to help.

For a limited time, receive an additional 10% off business legal services.

Hurry, promotion ends October 15, 2016.

EXPLORE BUSINESS LEGAL SERVICES & PRICING

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Leadership Lessons

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The most important business leadership lessons I learned from 10 years of leading combat troops.

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BY: Sean Patton

No matter what your position within an organization, you have to give orders. Now you may not think of having your secretary take a message or tasking a marketing director with developing a new ad campaign as an “order” in the military sense, but let’s just use it as the umbrella term for communicating a desired end-state to another human being. So it doesn’t matter if you are trying to work in a small peer group to accomplish a project, planning a special operations night raid, or leading a Fortune 500 company, you need to effectively communicate your intent. While I was leading combat and Special Forces Soldiers in the US Army for ten years, I developed a short checklist, taken from military doctrine and reassembled to ensure I was communicating my orders effectively to others. It is as follows:

(1) Task

A clearly defined action or activity specifically assigned to an individual or organization. This is the “what” of the order and you need to be careful with what words and phrases are used. Some words have different connotations in different regions, groups, and industries, so choose your task words wisely and be sure to follow up with the next four components.

(2) Purpose:

Why does the task need to be done.

You can usually begin your purpose phrase with “In order to….” In my opinion, purpose is the most difficult and important component in any order.

Sometimes our subordinates will have to deviate from the plan and adapt to changing conditions without the time or ability to communicate with us. But if you armed them with a concise, specific, and well-defined purpose (and endstate), you’ve just empowered them to adapt, overcome, and still accomplish the mission.

(3) Intent:

Intent is really expanded purpose. This can include details like acceptable risk, the role this task plays in the bigger picture, and any specific instructions on “how” you want the task accomplished.

This is the most flexible component.

Sometimes intent is 90% of the order and sometimes it is a few words.

(4) End-state:

A clear statement of what conditions you want as a result of the task. In the US Army we state this in terms of Friendly, Enemy, and Terrain. However, in the business world this may include the metrics and specific measurable outcomes you want when the task is complete. Without a proper end-state, your subordinate has no way of knowing when they are done and you have no way of evaluating the effects of the task’s completion.

(5) Timeline:

Timeline has to be specific to time and date. Your definition of “as soon as possible” can be vastly different than someone else’s, based on individual priorities, workload, and organizational position.

In my experience, poor communication is the cause of 90% of issues within any organization. The vast majority of professionals are not intentionally screwing up or don’t care if they fail, they

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genuinely want to succeed and be a part of a winning team. However, as leaders, if we do not communicate our desires effectively utilizing all five components of a complete order we are leaving a lot up to chance. More importantly, it becomes nearly impossible to evaluate our subordinates and teams; because, we don’t know if the reason we didn’t get the result we wanted was actually due to the lack of capability of those we tasked or a misunderstanding of our desired outcome. So the next time you don’t get the desired outcome from someone on your team, take a few minutes to reflect on whether or not you provided them with a complete order. If you did, then you must determine if that individual has received the proper training to accomplish the task. If so, then they might not possess the capability to play the organizational role you’ve assigned them, in order words, they are not trainable. If they haven’t received the training, then get them trained up and re-task them. Conversely, if you didn’t provide a complete order, then you can’t determine their real ability and their

failure is your failure. Time to re-train yourself, re-issue the order, and get back in the fight!

About the Author Sean Patton served 10 years as commissioned officer in the US Army Infantry and Special Forces branches. He is 2005 graduate of the United States Military Academy at West Point and will complete his Master’s in Business Administration with UNC-Chapel Hill’s Kenan-Flagler Business School in September 2016. Sean commanded combat and Special Operations Soldiers in both Operation Iraqi Freedom and Operation Enduring Freedom (Afghanistan). Currently, is the owner operator of a UFC GYM franchise in Hendersonville, TN and is the Director of Operations of Haven Lock, Inc. Sean also serves as the Chairman of Nashville Honors Heroes, a 501c3 dedicated to improving the efficiency of Veteran Services in the middle Tennessee area.

ADDITIONAL READING Shaking Things Up: The Art of Distruptive Innovation

Relationship Marketing, Building Trust: Keys to Unlocking Potential



EMAIL SEAN

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THE SECRET OF GOOD SALESMANSHIP

BY: Edmond Legum

If you can’t remember Chuck Berry’s 1956 hit, Too Much Monkey Business, you can find it on YouTube or buy it from iTunes for $1.29. In 2 minutes and 54 seconds, the rock ‘n’ roll legend shares poignant observations on society.

He takes on the drudgery of mill work, paying bills, aggressive blonde women, the drag of Army life, the angst of high school, the frustration of pumping gas, phones that don’t work, and one business subject: annoying salespeople —

Salesman talking to me, Tryin’ to run me up a creek, Say you can buy it, go on try it, You can pay me next week.

Ahh, too much monkey business.

Chuck is a better salesman that the one he sings about. The song reached #4 on Billboard’s Top Sellers. And it was later covered by both Elvis and The Beatles.

The genius of Chuck Berry is that he said the things that he said within the context of a great rock ‘n’ roll song. And he did so with a knowing grin on his face, as if to say, ‘I’m there with you. I understand what you’re going through.

I’ve been there myself. It’s bad, but this song is good. Don’t worry about all that ‘botheration’. ‘Leave it be.’ Just listen to this guitar, let go, and rock ‘n’ roll.’

Where Chuck is genuine, the salesperson he sings about is disingenuous. Where Chuck relates to his audience, the salesperson in more interested in making the sale. Where Chuck succeeds in his business, the salesperson succeeds in Monkey Business.

The words of Chuck’s song express what he actually experienced and what he truly feels. It is the secret of good salesmanship. It’s called integrity.

" It's called

About the Author Ed Legum is the Senior Vice President of Alliant Capital Advisors. He is committed to helping business sellers and business buyers make good deals.

For the past 30 years he has consulted with businesses throughout the U.S., Canada, and Mexico to help them increase the productivity of their five key resources: people, products, places, and promotions. www.AlliantBrokers.com

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EMAIL ED

integrity."

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Let's get coffee Are you in the Nashville, TN area? We’d love the chance to sit down and chat over coffee! Getting to know our local business owners ensures that we are providing content that is beneficial to you. We’d love to pick your brain, talk business, and get to know you a little better!

 SCHEDULE OUR COFFEE DATE 

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Whenever a prospective client comes to me for legal assistance with their start-up, often they fall into one of two categories of people: makers or traders. Makers know what the business does; whereas traders tend to know more about the business of what the business does. This is an important distinction to make. Nevertheless, I often meet people who are trying to launch a start-up, and only know either what they do or the business of what they do but not both.

Both makers and traders are necessary for a start-up to be successful; rarely will a sole proprietor be able to fill both roles, which is one reason partnerships are so desirable.

Often, one partner knows how to produce and provide goods or services, while the other knows how to reach customers, establish channels of distribution, collect and process payments, etc.

Of course, even business savvy traders can’t do it all, which is where professionals, like lawyers and accountants, can help round out your leadership team.

Meet Your Match In business, most people need to be on the buddy system. After all, it’s dangerous to go alone! Take help.

The Maker-Trader Principle, as first stated by me, is: “You can do what you do, or you can do the business of what you do, but most people cannot do both well.”

Examine your role in your start-up. Are you a maker or a trader? Also, if you believe you are an exception to the Maker-Trader Principle, can you honestly justify your belief to an objective third party?

THE

Maker-Trad BY: Noel Bagwell

If you are like most people, you’re going to need to connect to either a maker or a trader–whichever you are not–if you want to successfully launch a start-up. So, dive in to LinkedIn, look at your connections; go to networking events; put out feelers to your friends and family; and generally make a decent effort to establish a professional relationship with someone who believes in what you’re trying to do and has the skills you need.

Found that person? Congratulations, you’ve just successfully completed your start-up’s first team-building exercise.

You Need a Deep Bench Following the Maker-Trader Principle is just the first step. The next logical step is rounding out your team. As your start-up’s founder, you’re an important (and usually essential) part of the team, like a team captain. Nevertheless, you need a deep bench. Good leaders surround themselves with other leaders, other rock stars–not just meek followers. These leaders must include the members of your BAIL Team.

You can do, or yo business do, but cannot d

CLICK TO M

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der Principle

do what you ou can do the s of what you most people do both well.

MEET OUR BAIL TEAM

Every business needs a connection in the Banking, Accounting, Insurance, and Legal industries. When you can’t (afford to) bring those connections, those professionals in-house, you should, at least, make sure you have established an external professional relationship with them.

As an attorney, I can’t speak very much to the other three industries, but I know the “L” in your BAIL Team can and should include Outside General Counsel. This important player on your team can help you spot and address legal risks before they become legal problems. As the Small Business and Start-ups Aspect of Practice Leader for the National Center for Preventive Law, I advocate for the use

of preventive legal techniques to keep businesses out of expensive litigation.

You definitely want someone coaching you on the use of preventive law, and I’m not talkin’ about some guy on Avvo answering your questions.

Business is not for the faint of heart, and if you try to go it alone, you will get chewed up and spit out. The best thing you can do to ensure your startup’s survival is get some preventive protection. That starts with building the right team, with making and keeping commitments, with taking risks. If you can’t do that, stop wasting everyone’s time, including your own, and go back to your nine-to-five job. #ToughLove

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THE QUARTERLY OOPS:

TRADEMARKS & BRANDING

Searching for the perfect trademark?

Your brand identity usually begins here and it’s the first connection you have with prospects so it’s worth investing some time and brain power to find the perfect name and mark. Through this process, it’s important to avoid some common pitfalls that could have disastrous consequences for your business down the road. With that in mind, here’s a list of what NOT to do in your branding process!

1. Say Nothing.

What does your trademark say about your business? Does it evoke a feeling, a mission, a description?

Too often, businesses choose names that sound “corporate” without conveying anything at all about their brand. For instance, Andersen Consulting had to ditch their name due to the departure of Andersen from the company and promptly rebranded as Accenture.

It was meant to be a play on “Accent on the Future,” but really? Who got that? Time’s editors called it “one of the worst rebrandings in corporate history.”

According to Frankel, it sounds like the quintessential, meaningless, “big corporation” name. “It tells the customer nothing” she said.

Blackwater is a private security firm that also attempted a rebranding effort, but failed miserably. After a public relations nightmare where Blackwater contractors were accused of murdering Iraqi citizens, executives attempted to rename the company Xe (pronounced Zee) because it had no previous connotations.

Unfortunately, this nonsense name (and the fact that many didn’t know how to pronounce it) meant that people still referred to the company as Blackwater.

They eventually went on to rebrand a second time, becoming Academi.

Lesson learned? Say something with your name. What a waste of an opportunity to do anything otherwise.

2. Neglect the Research.

So you’ve narrowed the list to a few possible trademarks. Have you done the research? Have other companies claimed that name or mark? Perhaps a variation of the name? A different spelling? All of these things could lead to the rejection of your name by the Secretary of State or USPTO. If you do business in more than one state (or you plan to expand territories) have you performed a national search for your selected trademark?

Even if your trademark is available, be sure to check how it relates to the consumer’s culture. Many issues can arise, especially if your brand is international. For example, Mazda made a serious misstep in naming their SUV crossover LaPuta. (Spanish translation: “the whore.”) Oops.

BY: Devon Bagwell

You may have also seen the recent change made by the SciFi network to SyFy. The reasoning is because SciFi is a genre and therefore, not trademarkable. The unique spelling of SyFy allowed the network to trademark the name; however, someone failed to point out that syfy is slang for syphilis.

Oops again.

3. Ignore Feedback.

Everyone has an opinion. Some are valid.

Before moving full speed ahead, consider taking a poll and gaining valuable insights into the way potential customers will view your business based on your trademark.

Of course not everyone will approve.

Almost everyone will have an alternative opinion. Just remember that it’s your business. You have to live with the brand identity so you’d better love it!

If you are considering rebranding then consumer feedback is particularly important. In 2010, Gap decided to release a brand new logo design and the backlash was intense.

Loyal Gap customers were outraged and let them know via social media (including this parody Twitter account). After the logo release, it took only six days for Gap to reverse that rebranding decision

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Sometimes, it just doesn't go as planned... stating: “Ok. We’ve heard loud and clear that you don’t like the new logo. We’ve learned a lot from the feedback,” the company said on its Facebook Page. “We only want what’s best for the brand and our customers.

people of Tennessee will be taken into consideration.

A huge hubbub was heard when citizens learned that it cost $46,000 to design this simplistic logo. It was recently

through hundreds or thousands of ideas before finding one that is both desired and available. Once you find that perfect mark it’s definitely worth the time, effort, and investment to protect it!

Click to read more about how to register your tradename and protect your brand.

About the Author So instead of crowdsourcing, we’re bringing back the Blue Box tonight.”

Smart decision on their part.

rejected from the USPTO as a registered trademark due to the fact that the logo is “primarily geographically descriptive.”

Speaking of feedback, Gov. Bill Haslam offers no sign that the rejection of the redesigned state of TN logo by the

4. Fail to Protect.

Finding that perfect trademark is a process. A long process. You may go

Devon Bagwell is owner of Sproutling Marketing & Consulting and the Administrative & Marketing Director of Executive Legal Professionals.

ExecutiveLP.com | www.GrowWithSproutling.com

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EMAIL DEVON

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The Key to Success :

YOUR PERSONAL BRAND BY: Ryan Yamada

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Creating, maintaining, and promoting your personal brand in today’s world is more important than ever. Tom Peters, in his 1997 book The Brand Called You, had this to say:

Keep the following three things in mind as you perfect your personal brand:

Your personal brand is YOU:

“Regardless of age, regardless of position, regardless of the business we happen to be in, all of us need to understand the importance of branding. We are CEOs of our own companies: Me Inc. To be in business today, our most important job is to be head marketer for the brand called You.” Establishing your personal brand is the process of developing a mark on the world that communicates your skills, personality, and values. Creating it is all about who you are and what you have to offer, and the uniqueness of your brand draws people to your product, your services, and your message.

For example, my business, Raise The Bar Nashville, is all about utilizing my skills and experience in the bar industry to benefit existing beverage programs.

The essence of my consulting business revolves around who I am and what I can uniquely offer these programs. As we continue to grow as a company, our corporate culture stems from my own personal brand.

Whether you are a freelancer, consultant, or CEO of a corporation, understanding your personal brand and how to market yourself is absolutely integral to your success as an entrepreneur. You set the tone. Take the time to identify your brand and ensure you are communicating the best version of the brand called “You.” Be sure you are sending a clear, consistent message so others can identify what you are good at, what sets you apart, and what establishes you as an industry expert.

“

Understanding your personal brand and how to market yourself is absolutely integral to your success as an entrepreneur.

“

Your personal brand includes everything you say, post, write, pin, photograph, Instagram, Facebook, Google+, like, tweet, think, and do. People are watching.

What message are you wanting to send to potential customers, employers, or any other individuals in your network with each action you take? Always consider what it is you want to represent before making that decision. It’s reported that 89% of 18-29 year-olds are active on social media, as are 43% of adults 65 and older.* Your digital presence and how you maintain your personal brand is more important today than ever.

One of the most important aspects of branding is consistency: Forbes has reported that it takes on average 5-7 brand impressions before someone will remember your brand. You should be living your brand each and every day. You should not have to over think about what your brand stands for, what your brand promise is and how you can be a contributing and positive part of your brand story on a daily basis.

Using social media to promote your personal brand provides you with an amazing opportunity to get a consistent yet dynamic and real brand message in front of hundreds and thousands of people each and every day. When you begin building your personal brand make sure to clearly define your goals and define your values and passions. Without having to overthink each action take, the message you send to your audience should authentically and sincerely reflect back on those defined goals and values every time.

Continued on page 22.

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Your Personal Brand, Continued...

Make yourself approachable: Earning trust is imperative in business and life. One of the best and easiest ways to earn trust is to personally connect.

Build relationships and understand that these relationships are going to take time to nurture. Consider this: would you hire a consultant, coach, or assistant that you’ve never heard of, worked with, or seen? Most likely, that answer is no. In today’s digital world, consumers have the luxury of getting to know and trust the person or company behind each purchase. This means you must go the extra mile to consistently make sure your personal brand is accessible. To do this, it is important that you are consistently active with your social media platforms, website, and offline networking. When

it comes to social media, make sure you welcome new followers, reply using the commenter’s name, and create relevant content that is both educational and entertaining. Always seek feedback and encourage others to engage in a two-way conversation.

Lisa Quast from Forbes outlined these six essential steps to develop your personal brand: 1.

2.

3.

4.

5.

6.

Define your overall aspirations.

Conduct Research.

Determine your brand attributes.

Assess your current state.

Create your game plan.

Manage your brand.

(Click to read Quast’s full article.)

So if you haven’t already started, get to it! Make those connections and cultivate your personal brand to find the success you’re looking to achieve.

About the Author In 2016 Ryan Yamada was named a finalist for Nashville’s TOAST of the Town Best Bartender. Raise The Bar Efficiency Management & Consulting is an extension of Ryan’s creative and fiscal expertise in the hospitality industry.

RaiseTheBarNashville.com

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EMAIL RYAN

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Bar Efficiency, Management, and Creativity in one convenient package.

» NEW PROGRAM SET-UP « » EXISTING PROGRAM AUDIT « » CUSTOM COCKTAIL MENUS « » SPECIAL EVENTS «

615.208.4467 www.RaiseTheBarNashville.com

Ryan Yamada

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BY. Noel Bagwell

Who Owns the IP You Hire a Freelancer to Create?

The first step in determining who owns what Intellectual Property (“IP”) a freelancer may create for your business is understanding the different types of IP. “Copyright protects original works of authorship, while a patent protects inventions or discoveries. Ideas and discoveries are not protected by the copyright law, although the way in which they are expressed may be. A trademark protects words, phrases, symbols, or designs identifying the source of the goods or services of one party and distinguishing them from those of others.” (Copyright.gov)

Freelancers & Intellectual Property Rights

Typically, patents and trade marks (and service marks) belong to the person or entity who registers them or otherwise obtains the legal right to own them.

Copyrights, however, spring into existence at the moment of creation of the “work of authorship.” Works of authorship include things like articles, books, papers, photographs, films, music, and even computer code. By default, copyrights are owned by the creator of a work of authorship. “As a general matter, copyright infringement occurs when a copyrighted work is reproduced, distributed, performed, publicly displayed, or made into a derivative work without the permission of the copyright owner.” Id. Copyright infringement (or lawsuits alleging copyright infringement, rather) are what this article aims to help you avoid.

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Work Made for Hire: An Exception to the Default Rule

Contracting Drafting Services

“Although the general rule is that the person who creates the work is its author, there is an exception to that principle. The exception is a work made for hire, which is a work prepared by an employee within the scope of his or her employment or a work specially ordered or commissioned in certain specified circumstances. When a work qualifies as a work made for hire, the employer, or commissioning party, is considered to be the author. See Circular 9, Work-Made-ForHire Under the 1976 Copyright Act.” Id. How does one establish that a work is a work made for hire, though? That’s easy: use a written contract to hire a creative professional to create the work for hire.

Assigning Copyrights and Other Rights to Intellectual Property Written contracts between a seller of services (e.g., a creative professional) and a buyer of such services (e.g., a business hiring a creative professional to create works of authorship for the business’s commercial use) enable the parties to assign ownership of, and other rights to, copyrighted material. When crafting such a contract, it is important to clearly and unambiguously establish both the existence of an employer-employee relationship and to expressly, clearly, and unambiguously establish who will be the owner of any work created for hire by the employee.

In general, there are three broad categories of factors the Supreme Court identified in a case called Community for Creative Non-Violence v. Reed which make up an employer-employee relationship:

615.669.6566 1. Control by the employer over the work; 2. Control by the employer over the employee; and the 3. Status and conduct of employer.

topic, see: Employment Contracts in an At-Will Employment State”.)

Despite identifying these non-exhaustive factors, the Court still has not clarified the specific issue of which factor or factors must be present in order to establish an employment relationship with respect to the definition of a work-for-hire. The Court did hold, however, that the mere presence of a supervisory relationship to the creator or control over the creation of the work is not the controlling factor (pardon the pun) in determining whether an employer-employment relationship exists with respect to the definition of a work-for-hire.

You should have a competent, experienced business attorney draft your Employment Contracts for your business. A business attorney will know the terms of art to use, as well as the right phrasing of the appropriate clauses to put into the contracts to ensure your legal rights are protected. Trying to copy & paste something together or use some template you found online is going to result in a document of substandard quality, which is not likely to protect you the way a custom-drafted contract would.

This is why it is absolutely essential to use a written contract for employment, and to state in clear, unambiguous language the terms of the employment. (Also, gaining control over the works-for-hire your employees create is another benefit of using written employment contracts, in general, even if you’re in an at-will employment state. (For more on this

You Need a Business Attorney

This is not an area in which you should cut corners, trying to save a buck. This is your intellectual property, and making the wrong move could mean someone else owns it or can exclude you from using it.

So, get it done right the first time.

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EMAIL NOEL

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The Business Mind Magazine // ISSUE 01

FAQs:

SHOULD I HIRE A BOOKKEEPER?

BY. Brad Jones

I hear so many entrepreneurs say they wish they hired a bookkeeper sooner than they did. There are many reasons why business owners are hesitant about hiring a bookkeeper though. Let’s review some of the typical questions business owners have about hiring a bookkeeper.

Q. What are the tasks that a bookkeeper Q. What are the benefits of having a bookkeeper vs managing it yourself? performs, and how often?

Click to read more about how Jones & Associates CPA, PLLC can help you with every aspect of Quickbooks, including set-up and training.

A. Bookkeepers can take care of payroll, year-end payroll forms, government remittances, record daily/monthly financial transactions, prepare budgets, pay bills, and even some admin type tasks. How often depends on how many transactions you have, but the norm is at least monthly, if not weekly. Many bookkeepers can work remotely now with the help of QuickBooks Online and other online accounting programs.

A. The main benefit to hiring a bookkeeper is that it frees the business owner up to concentrate on running their business and generating income. Bookkeepers will be more efficient and will often complete the tasks in half the time the business owner would spend. Another benefit is having access to the bookkeeper’s knowledge. A bookkeeper typically has multiple clients and can give guidance on best pricing for services such as banking, insurance, etc.

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The Business Mind Magazine // ISSUE 01

Q. How does one get started working with a bookkeeper?

Q. Is a bookkeeper and CPA the same thing? Should I have both?

Q. What accounting software should I use?

A. Many times, your accountant can refer a great bookkeeper if their office does not offer the service. Or ask other companies who they use and what services the bookkeeper performs for the company. These first two options are the best since someone else is recommending the bookkeeper based off their experience of working with them. But you can also find a qualified bookkeeper that is certified through the accounting software the company uses. For example, QuickBooks certifies individuals by making them take and pass tests on the software. So you know the individual is experienced using the accounting software.

A. Bookkeepers and CPAs are not the same. Bookkeepers focus on the daily/weekly/monthly tasks, providing information but not any opinions. A CPA has a higher level of expertise, having completed additional certifications.

They provide advice and other analysis, including certified year-end financial statement preparation, tax returns and dealing with the IRS. I like having the company’s CPA firm handle the bookkeeping as well as all tax work. Not only does it makes it more convenient for the business to have everything handled by the same office, it ensures the bookkeeper and CPA is working together and the CPA can spot any problem areas before tax season.

A. If you run a small business and are seeking a more efficient way to do your bookkeeping, you’ve most likely considered using computer software.

There are several ways to go when choosing accounting software for your small business, but QuickBooks is most often business owners’ first choice.

QuickBooks is perfect for small- to midsized businesses, because it’s affordable, customizable, and easy-to-use.

About the Author Brad Jones is a Certified Public Accountant that has been in the accounting field since 2007. He has had extensive experience in financial analysis and working with companies to improve operational efficiency and increase profitability.

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EMAIL BRAD

Photograph by. Roberto Nickson

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The Business Mind Magazine // ISSUE 01

Instagram @robertonickson

DAY II :

Far From Here THIS PUBLICATION PROVIDED BY

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