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The Yau Law Firm
Focused on Protecting Businesses and Representing the Injured

Secrets of Savvy Businesspeople

Masahiro Takeda is considered a sake master whose sake advice is trusted and highly respected in the wine and spirits industry.  He comes from a family that has been importing sake from Japan for almost 40 years.  As the vice president of operations at Wine of Japan Import, Inc. and a leader with several other companies, Masahiro’s expertise in his products is an important ingredient of his success.

Savvy business people share common attributes such as having a knack for being knowledgeable about their products, knowing how to use contracts, and understanding how to protect their brand.

Knowledge and expertise builds trust and confidence.  Consumers trust experts and come to them for advice before making purchase decisions.  By becoming an expert in your niche, you gain influence over your customers and a competitive advantage over the competition.

The phrase “put it in writing” is almost a cliché, but the written instrument is an important part of business.  The savvy business person understands that written agreements play a critical role in operating a business.  One reason to insist on using a written contact is the evidentiary value it provides.  The signed document is proof that an agreement exists as well as proof of the terms.  Another reason for using written contracts in practice is that they are required by law for certain agreements.  Pursuant to the Statute of Frauds, some agreements must be in writing.  For example, a court may refuse to honor a verbal contract if it is one that cannot be performed within a year, involves real estate, or is for the sale of goods valued at $500.00 or more.

A brand is typically established by a name, mark, or slogan, such as Kellogg’s (for Kellogg’s cereal), the apple symbol (for Apple computers), or “the best part of waking up…” (for Folgers coffee).  These elements may identify a product, but more importantly, they identify the source of the product.  Such elements also invoke consumer loyalty by reminding customers they can expect a certain level of quality from a particular label.  The benefit of your brand is lost, however, if a competitor uses your name or logo to market its products.  The savvy business person recognizes the value of owning and protecting the intellectual property rights associating with a brand that connects with consumers.  By obtaining a trademark, you gain the right to prevent others from using your mark without permission.

Are you a savvy business person with questions about protecting your brand?  Or perhaps you need to establish a formal business entity like a corporation or LLC.  If so, contact an attorney with experience in these areas before your competitors do.

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