BERYS LAW | Business, Real Estate, Wills/Trusts

Licensing intellectual property (IP) is a strategic business decision that can offer various benefits. For example, it allows you to maintain control over your intellectual property by specifying how others can use it. This helps in preventing unauthorized use and exploitation.

This article explores the key aspects of licensing intellectual property, which provides businesses with essential insights into this dynamic and beneficial practice.

The Basics of Intellectual Property

Intellectual property encompasses creations of the mind, including inventions, designs, brand names, logos, and creative works. The main categories of intellectual property are patents, trademarks, copyrights, and trade secrets. Each category offers protection for different types of assets, and businesses often have a combination of these IP elements.

Types of Intellectual Property Licenses

Licensing provides a legal framework for the owner of intellectual property (licensor) to permit another party (licensee)...

Of the many strategies that can help safeguard your brand, one that’s worth mentioning is trademark protection. This legal mechanism not only offers exclusive rights to the use of certain marks but also provides a foundation for brand recognition and trust. 

In this article, we explore the importance of trademark protection and how businesses can leverage it to fortify their presence in the market.

Understand the Basics of Trademarks

Before discussing trademark protection in detail, first, we need to understand the basics. A trademark is a recognizable sign, symbol, or expression that distinguishes products or services of a particular source from those of others. 

It can take various forms, including logos, brand names, slogans, and even distinct packaging. Registering a trademark with the appropriate authorities provides legal protection against unauthorized use by competitors.

Conduct Comprehensive Trademark Searches

An important step before investing resources in...

Real estate transactions are often complex. They involve different legal aspects that you should carefully consider, such as the Quiet Title Action. It’s a legal process that establishes or confirms ownership of a property and to “quiet” challenges or disputes that arise regarding the title. 

Its goal is to resolve issues, such as ownership claims, unclear chains of title, and unresolved liens. In this article, we will explore what a Quiet Title Action entails, the circumstances under which it is needed, and how it can help resolve property title issues.Keep reading. 

When Is a Quiet Title Action Needed?

Several scenarios may necessitate the filing of a Quiet Title Action:

Title Defects or Clouds

When there are defects or clouds on the title, such as unresolved liens, conflicting claims, or missing information in the chain of title, a Quiet Title Action can help rectify these issues.

Adverse Possession Claims

If someone has adversely possessed the...

As an entrepreneur looking to protect your brand assets and creative works, you need to understand the differences between trademarks and copyrights. Both legal concepts fall under the umbrella of intellectual property, but they serve distinct purposes. 

Defining Trademarks and Copyrights

• Trademark: A trademark is a symbol, phrase, design, or combination thereof that identifies and distinguishes the source of goods or services. It serves as a badge of origin, allowing consumers to recognize and associate specific products or services with a particular business.
• Copyright: Copyright, on the other hand, protects original works of authorship fixed in a tangible medium of expression. This can include literary works, artistic creations, musical compositions, and more. Copyright grants the creator exclusive rights to reproduce, distribute, and display their work.

Nature of Protection

• Trademark: The primary purpose of a trademark is to prevent consumer confusion by ensuring that...

Short-term rental platforms, such as Airbnb and VRBO, have changed the way individuals travel and seek accommodation. While the short-term rental industry offers lucrative opportunities for property owners, they still need to be careful of potential pitfalls. 

This article explores some important legal considerations for those venturing into short-term rentals.

Local Zoning and Regulations

One of the first legal considerations for short-term rentals is local zoning ordinances and regulations. Zoning laws vary widely, and some areas may have restrictions or outright bans on short-term rentals. Property owners must research and comply with these regulations to avoid legal consequences, including fines and cease-and-desist orders.

Some municipalities have specific zoning categories for short-term rentals, whereas others may require special permits. For this reason, property owners should consult with local authorities or legal professionals to ensure full compliance with these...

In commercial real estate, legal considerations help guide the strategies employed by property owners and managers. One strategy you may or may not have heard of is the diversification of tenant mix. Besides the economic advantages it can offer, diversifying tenant mix carries significant legal implications that make commercial properties successful and sustainable.

Thinking of commercial real estate investing? In this guide, we explore the legal aspects that underscore the value of cultivating a diversified tenant mix.

Lease Agreements and Legal Protections

When a commercial property relies heavily on tenants from a single industry, it may find itself disproportionately affected by the legal challenges specific to that sector. 

For example, economic downturns or regulatory changes can impact certain industries more than others, directly influencing the ability of tenants to fulfill their lease obligations. 

By diversifying the tenant mix, property owners can create a...

Life is unpredictable, and unforeseen circumstances can arise where individuals may become unable to make their own medical decisions. 

In such situations, having a Medical Power of Attorney (MPOA) is a crucial legal document that empowers individuals to appoint a trusted representative to make healthcare decisions on their behalf. In this article, we'll dive into the significance of a Medical Power of Attorney and how it plays a pivotal role in ensuring individuals receive the medical care they would want.

What Is a Medical Power of Attorney?

A Medical Power of Attorney is a legal document that grants someone the authority to make healthcare decisions for an individual in the event they become incapacitated or unable to communicate their wishes. 

This appointed individual is commonly known as a healthcare proxy or agent. The scope of authority given to the healthcare proxy can be as broad or as specific as the individual wishes, and it typically includes decisions...

Acquiring an existing business can be a strategic move. It offers a shortcut to entrepreneurship by stepping into a pre-established enterprise. However, the process is not without its challenges, which is why careful attention to legal considerations is a must. 

If you’re looking to buy a business, this guide dives into some legal considerations you should know. 

Due Diligence is Non-Negotiable

Before entering into any agreement, conduct thorough due diligence. This means doing a comprehensive examination of the business's financial records, contracts, liabilities, and legal standing. 

Investigate outstanding debts, pending litigation, and any potential regulatory compliance issues. You will also have to engage professionals such as accountants, business appraisers, and legal advisors during this phase to ensure that you are fully informed about the business's current state.

Structure the Deal Appropriately

Choosing the right structure for the acquisition is...

Commercial properties may share certain similarities with residential properties such as leasing agreements and tenants, but they also present a distinctive array of challenges that impact the responsibilities of a commercial property manager.

From large office buildings to retail spaces and industrial complexes, commercial property managers face complexities that extend beyond those encountered in residential property management. What key challenges are involved, and how can property managers handle them? Find out below.  

Tenant Diversification and Lease Complexity

One of the foremost challenges in commercial property management is dealing with a diverse range of tenants, each with unique needs and lease agreements. Commercial leases are often more complex than residential leases, with variations such as triple net leases and varying terms. Managing these diverse lease agreements while maintaining compliance poses a continuous challenge.

Read more: How To Negotiate A...

Estate planning is a meticulous process — it demands the careful consideration of assets, beneficiaries, and distribution of one's legacy. When blended families enter the equation, more layers of complexity arise. Considering these potential challenges will help achieve a fair and harmonious estate plan that reflects the diverse relationships within the family. 

Blended Family Dynamics

Blended families, comprising individuals who bring children from previous marriages or relationships into a new family unit, require a nuanced approach to estate planning. Understanding the intricate dynamics and varying relationships is the first step toward crafting an inclusive plan.

Open Communication

The cornerstone of successful estate planning for blended families is open communication. Encourage honest conversations among family members about financial expectations, potential inheritances, and the role of each individual in the estate plan. Transparency will reduce misunderstandings...