No. 12 JANUARY - MARCH l
l Do I need to protect
intellectual property??
l How to renew a
business license in Montgomery County
My “Hispanos Emprendedores� friends, these first three months of 2020 have been good news for us and our entire community. Starting with the opening of our new office, which will serve as headquarters for the distribution of our magazine. If you are interested in distributing our magazine on your premises, write to info@hispanosemprendedores.com or visit us at 10 Main St., Suite K, Clarksville, TN 37040. Another piece of good news that 2020 has brought is that we have begun activities at Academia Hispanos Emprendedores. And the first quarter Business Plan classes and Accounting and Finance have been a total success with more than 15 students. In our classes we have guests from different business areas such as banks, insurance, chamber of commerce, universities, national guard among others; they have information in English, but we do the translation so that the message reaches our students in the best way. We continue to inform and educate our community, which has been the main objective of Hispanos Emprendedores, we hope you enjoy this new edition. Do I
Ă?NDICE
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Do I need to protect intellectual property?
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How to renew a business license in Montgomery County
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From construction to the kitchen
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What is tangible personal property?
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Perhaps this question is not the first that arises when you consider opening your own business. But in Hispanos Emprendedores we tell you why you should worry more about this issue. We will explain why you need to protect the intellectual property of your business. In general terms, intellectual property (IP) refers to all creations of the human mind, they can be intangible or physical products. Legislation protects these assets and grants exclusive rights to the person or company that created them, while the right to private property is the field that is responsible for protecting those creations. Thus, granting the owner
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the power to exploit it and make it it fosters creativity, innovation, and available to the general public. relationships with consumers. But what does this have to do with From the name of your your business? company, the procedures, to the products and services that The IP industry is deeply rooted in the you commercialize can be United States and intangible assets protected. This is not a task are very valuable. The technological that you should leave until and commercial transformation, the the end. On the contrary, you development of new knowledge, must investigate it before and the internationalization of starting your business. We business have sparked a growing recommend that you consult interest in this topic. with Intellectual Property Attorneys in Clarksville who Owning the rights to your creations are familiar with regional generates exclusivity and allows and national laws. your company to differentiate itself from the rest, which in turn gives its competitive advantages. In addition,
TYPES OF INTELLECTUAL PROPERTY There are four types of intellectual property, each with its own attributes. However, they are not mutually exclusive. In other words, a single creation can have different types of protection. To understand why the intellectual property of a company must be protected, the classification must be clear: Patents It is the right that is granted over an invention. Thus, giving the owner exclusivity to exploit his creation, while preventing others from using it without their consent. Innovation patents have limited time and the owner must be vigilant to renew it. If the asset is not going to be used, you can sell, license, or donate it.
Copyright They protect the original works of the author to control the reproduction, adaptations, distribution, etc. The focus is not on the idea, as such, that is what patents are for, but on how they are presented. Trade secret This right applies to the procedures, formulas, strategies, or any information on which the company wishes to have exclusivity. A clear example is the Coca-Cola formula. The company is responsible for the treatment given to this information; it may be through confidentiality agreements. Why protect the intellectual property of my business? If you have not yet considered protecting your company’s intellectual property, it is time for you to do so. We are not only talking about the need to have exclusive rights to your tangible or intangible asset but to avoid fines and infractions that can be harmful to your business.
Trademarks In the case of trademarks, the assets that identify the products or services of a company are protected. In other words, what distinguishes it from a similar one. This includes symbols, colors, slogan, among others. Why? Because you must be sure that you The difference between patent are not violating the rights of third and trademark is that the former parties. If you take over someone applies to a new invention, while else’s IP, you will have to bear the trademark applies to assets that the consequences; regardless of already exist. whether you were aware that the other entity had such rights. Having a registered trademark protects against counterfeiting, You must worry about this issue unfair competition, false advertising, from the first moment you consider among other infringements. starting a business. One of the first
steps to create your company is to define your business’s identity, which begins with the name. To choose it you must be sure that there is no other business registered with the same name. Even when choosing the Internet domain, you must check for its availability. The same occurs with the commercial identity, that is, the brand that identifies the product or service. Before you start operating you must make sure that the brand name is available. A difficulty that arises, in this case, is that the availability of the brand must be visual (how it is written) and phonetic (how it is pronounced). Another consideration is that, if it is registered in another country, it does not mean that it will be automatically recognized in the United States. When you are going to import or export products that are copyrighted or protected by one or more patents, you must seek advice to understand how to do it legally. Without proper licensing, you may end up with a fine, and your products destroyed. These are more than enough reasons to protect the intellectual property of my business. Organize all this to continue with your venture without any problems of this type.
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Having all the documentation up-to-date is necessary to avoid penalties that can even lead to the closing of the business. That is why you should be clear on how to renew the business license in Montgomery County, and at Hispanos Emprendedores we explain it. It is exciting to fulfill your dream of entrepreneurship until you realize all the commitments you must assume. However, this is no reason for you to stop. With enough advice and research, you will understand each process, and, in the end, you will see that it is not so complicated.
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One of your obligations is to obtain location. You may also need one licenses and permits depending to operate at different geographic on the type of business you are levels: city, county, and state. going to open. Some business activities will also The business license is the require federal authorization. document that allows you to For example, if your business is operate your business in a specific related to alcoholic beverages, region. There are several types transportation, logistics, agriculture, depending on the industry and
commercial fishing, explosives, etc.
firearms, annual fee of $15. As we explained before, the renewal of the minimum activity license is also done Applying for a business license in according to the fiscal year. Montgomery County is easy. You can do this in person or by email to For a standard business license, the County Clerk’s office. The cost of you must go to the Tennessee the original license is $15. Department of Revenue to renew it. To comply with the law and All businesses with gross income continue with your regular license, over $3,000 must have a minimum you must file a tax return every year. activity or standard business license, according to their earnings. The process is simple. You must file and pay the business tax through Annual renewal the electronic system to the Each state has its own rules on Revenue Department. This is done applying for and renewing licenses. based on the gross income you In Tennessee, this document must have earned during the fiscal year. be renewed every year. At the end of your business fiscal year, you Once you make the statement, must renew the standard business a notification will be sent to the license. You will have a period of Business Tax Office at City Hall. 30 days to do so and thus avoid From there they will send you a penalties against your company. copy of the license renewal. Unlike the minimum activity license, you How to renew a business license do not have to pay to obtain the in Montgomery County renewal of the standard one. In Tennessee, all businesses that earn more than $3,000 in gross income need a minimum activity business license. If these exceed $10,000, then a standard commercial license applies. This rule extends to all counties with the idea of making the process more uniform.
It should be noted that professional licenses must also be renewed. There are certain trades in which the business owner needs this authorization to operate. To clarify your doubts in this regard, it is important to seek advice for your company.
After obtaining your license you must be aware of when it is time for renewal. When it comes to a minimum activity license, it is processed at the county clerk’s office. For this, you must pay an
Avoid penalties due to license expiration Those businesses that need a business license cannot operate until they obtain one. Then they
must be renewed on time to continue working. Neglecting to renew your permits and licenses can have serious consequences for the business and the owner. The consequences of an expired business license can range from fines to criminal penalties. And, as we mentioned earlier, they are not limited to the company but can include the owner of the company. For example, your assets could be confiscated, or you could even be forced to close for neglecting to renew your licenses. Even if the closure is temporary, you would stop receiving significant earnings. And, beyond that, your business’s reputation with your customers would be at stake. For all these reasons, it is important to keep an eye on the expiration date of the license and make sure to renew it on time. Sometimes the process can take longer than you expect and that will affect the company. If you are clear on how to renew the business license in Montgomery County you will not have a problem doing it. Remember that you must do this process also with local, state, and federal licenses to have everything in order.
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In a variety of businesses, José Grimaldo has prospered with his ventures David Bracamonte dbracamonte@hispanosemprendedores.com
The story of José Luis Grimaldo begins in Tierra Nueva, San Luis Potosí México, where he spent part of his childhood, along with his parents, before arriving in the United States. From a very young age, he took pleasure in striving and working to attain what he set out to accomplish, which today has made him a Hispano Emprendedor.
The sheetrock business has been profitable for Grimaldo from a young age. He explains, “When I came to Tennessee at the age of 18, it was because I came with a company that worked with sheetrock in Fort Campbell at that time. I worked
Grimaldo is the owner of the Mexican food restaurant “Cazadores” located at 228 Segler Dr., Oak Grove, KY 42262. But to get this point, there were several years of waiting and careful consideration before making a decision.
with them for the duration of the contract and then had the opportunity to assemble a work team with my brother who helped me become independent, and acquire my own contracts, so
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I started with the ‘Grimaldo Drywall’ business, and because of job requests in four different states, I had to move ”. Clarksville hooked him For Grimaldo, Clarksville is a perfect city for the family, especially for the tranquility, “after finishing the tour of various states, I returned to Clarksville; I already had properties here and it was a quiet and safe city for my wife and children. The growth of this city is remarkable; before, there were not as many Hispanics or Mexican restaurants as there are now.” That growth of which he speaks led him, along with his wife, to define an idea that they had in mind for a long time “my wife and I always thought about having a restaurant, but because we had never been in that line of work, it was nothing concrete, but then they offered us the opportunity to take over the restaurant that was about to close, and we did. At first, it was hard because the previous restaurant was in decline, the first few months were hard to get off the ground, but with a lot of effort and quality we managed to get ahead,” says Grimaldo.
Study the market As a successful entrepreneur, Grimaldo always advises before deciding to open a business, “informing yourself is key, you must know everything about how to start a company, the different company formats that exist and which ones are best for you. If, for example, you form a partnership, you must make clear all the terms that will be included. For that, it is always good to seek help from professionals who know the subject”. He also added “studying the market is important, knowing what you are facing and who your competition is, that is important. But the main thing is to inform yourself about everything, part of the success is being able to say that all your business is legal and that you have everything up to date”. Grimaldo concludes saying “there will always be fear when it comes to opening a business, all kinds of fear, but if you inform yourself well, you can surely overcome them, and you will manage to open your business legally, in this country”.
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What is tangible personal property? AII businesses that operate in Tennessee are subject to Personal Property taxes, regardless of revenue. TCA § 67-5-901 Personal Property is the tangible property used, or held tor use, in a business. lt includes, but is not limited to, furniture, fixtures, vehicles, tools, machinery, equipment, raw materials, and supplies. One of the most common components used to differentiate “personal property” from “real property” is whether it is movable (personal) or affixed (real). How do I report my personal property? By February 1st of every year, you will receive a Tangible Personal Property Schedule in the mail. lf you do not receive one, please call. Not receiving one does not relieve your responsibility of filing.
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On this torm you will list what assets value will be increased by 15%. lt you have or hold tor use, their is always beneficia! to report your purchase price, and the date the asset assets in a timely manner. was purchased. I forgot to report. How can I fix Tangible Personal Property Schedules it? must be returned by March 1st. Failure lf you missed the March 1st to timely submit your schedule will deadline, you can still report. You result in a torced assessment. must submit a completed Personal Property Schedule to our office lf you have any questions regarding with a complete asset listing filling out your Personal Property by September 1st. As a penalty, Schedule, please do not hesitate to the total reported value will be contact us. We will be happy to assist increased by 15%. you. También deberá ponerse en What is a forced assessment? contacto con el Departamento de Ingresos de Tennessee para cerrar A torced assessment means that we su cuenta con ellos. compare your businesses to all other similar businesses in Montgomery My business has moved. What do County, and assign the average I need to do? reported value to your business. Once a value has been established either by lf your business moves, or you applying an average or using an initial change your mailing address reported amount, if we do not receive please contact our office to fill out a a Personal Property Schedule, the total Change of Address torm. Promptly updating your intormation with our
office will ensure that you do not miss any important intormation regarding the assessment of your business. I believe my business may be exempt from personal property taxes. lf your business falls under a religious, charitable, scientific or nonprofit educational category, it may be exempt from Personal Property Taxes. Betore becoming exempt, you must file an application with the State Board of Equalization and be approved tor an exempt status. You will also need to file a completed copy of
IMPORTANT CONTACTS Montgomery Country Property Assessor’s Office Personal Property Businesses #-k Caitlin Swaffer 931-572-1113 Ext. 1 Businesses J-Z Kill Caldwell 931-572-113 Ext. 2
this application with our office. Applications are available in our office or on the State Board of Equalizations website at www.comptroller.tn.gov/sboe.
City tax rolls. Be aware that if you close your business after January 1st of the calendar year, you will be responsible tor that year’s full tax amount.
The Montgomery County Property Assessor’s Office does not make any decisions regarding property tax exemptions.
You will also need to contact the Tennessee Department of Revenue to close your account out with them.
I have closed my business. What do I need to do? lf you have closed your business, please report the closure to our office as soon as possible. This will remove you from the County and
-Tennessee Office of Small Business Advocate 615-401-7806 or 1-866-831-3750 www.comptroller.tn.go/osba -State Board of Equalization 615-401-7883 www.comptroller.tn.gov/sboe
All other Assessor’s Office Inquiries 931-648-5709 or online mcgtn.org/assessor -Tennessee department of revenue 615-253-066 www.tn.gov/revenue -Montgomery Country Trustee’s Office 931-648-5717 www.mcgtn.org/trustee -City of Clarksville Office of Finance and Revenue 931-645-7436 www.cityofclarksville.com
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The 2020 Census is an opportunity to count everyone in our community. The Census Bureau does this every 10 years and uses the result of how many people live in each city or county to give Federal funds to cities based on how many people live there. We all use local services such as roads, schools, and medical clinics; and as a growing community Clarksville and Montgomery County will be able to provide more services with the additional funding. On average each resident of Tennessee equals $1,100 of funding back to your local community each year, but you need to be counted.
MARIA JIMÉNEZ
MJIMENEZ@HISPANOSEMPRENDEDORES.COM
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By the end of March each house should have received a letter or post card from the U.S. Census. This letter will invite each household to fill out the Census, and it is so easy this time. You can take it online, over the phone, or request one by mail. If you have not filled out a Census form one of these ways a
Census worker will likely be knocking on your door in April and May to ask you 10 simple questions about you and everyone living in the house, even if you are not related, it is ok. The Census will not ask about your citizenship and keeps your responses locked up for 72 years. The Census is also available in 13 different languages online including Spanish and Portuguese. In person the Census has 59 different language guides to help you including sign language. The main message I want to stress about the Census: It’s safe. It’s secure. And it’s important. I want to thank you for joining with me and our whole community to complete the Census, our future counts on it!
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Last February we had the opening of our new office, along with the Chamber of Commerce of the city of Clarksville and several of our Hispanic entrepreneurs who have always accompanied us on this path. As official members of the Chamber, we performed the Ribbon Cutting ceremony at our office located at 10 Main St., Suite K, Clarksville, TN 37040. An event attended by representatives of the chamber, friends, and guests. A moment of great joy for the entire team of Hispanos Emprendedores. We would also like to acknowledge La Laguna Restaurant, Tropicana
Restaurant, America Rental, Jimenez Consulting and Tax Services, Tico Home Improvement LLC, Makeup in Clarksville, Joann MuĂąoz, Bridgestone Metalpha USA, Clarksville Hispanic Business Networking Group, among others. This office will also serve as a hub for Academia Hispanos Emprendedores, where we will be able to train and teach all students about entrepreneurship in Tennessee. If you want more information visit www.hispanosemprendedores.com
The Spanish Immersion program began in August of 2018 with the vision that the ClarksvilleMontgomery County School system would provide a language immersion option for families that were interested in dual language education. The program, which provides all academic instruction in Spanish up until third grade, now serves 82 students in grades K and 1 with plans to grow a grade level each year until 5th grade. In the program, students learn the same content that traditional English students do such as language, phonics, math, science, and social studies but they are learning it in the target language of Spanish. The resulting goal of the program is that students will leave elementary school being biliterate - able to read, write, speak, and comprehend in Spanish and English.
Currently housed at Barksdale Elementary, each classroom is staffed with a bilingual teacher and educational assistant. Helen Nicholas is the administrator over the program. Because the program is an open enrollment option, students come from across the district for this opportunity. Space is limited to 40 incoming Kindergarteners each year so the spots are awarded using a lottery system.
how to “task switch� between the two languages which strengthens their thinking skills. Students who are bilingual often outperform their peers on standardized tests and have heightened cultural awareness. One-half to two-thirds of adults in the world speak at least two languages. In today’s global world, the ability to speak more than one language is going to open many doors for these students in the future.
The program has three major goalshigh academic proficiency in both languages, cultural sensitivity to others around us, and the elevation of the Spanish language. Spanish is the 2nd most spoken language in the United States behind English and the use of Spanish in the US is on the rise. The benefits of bilingual education are plenty. Students in immersion programs must learn
For more information about the Spanish Immersion Program please visit https://www.cmcss. net/immersion/ or contact Helen Nicholas at helen.nicholas@cmcss. net.
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