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How do you determine the worth of a business?

By Godfrey Legal |

Any estimate of a business’s value is more art than science. There is no magic formula that will simply tell you with any degree of certainty the value of your business. Generally, a business’s value is set by negotiations between a willing buyer and a willing seller who have no particular compulsion to buy… Read More »

Is the Handshake Deal Gone or Is It Still Enforceable?

By Godfrey Legal |

I was talking the other day with a friend about how different our legal culture was in the US regarding contracts when compared to other countries. He said that he felt that handshake contract was all but dead in the US. Unfortunately, there is some truth in this statement, but there is also a… Read More »

Avoiding Property Inspections: An Expensive Mistake

By Godfrey Legal |

During the last 3 years, I have worked on the acquisition of a number of businesses and reviewed various leases for my clients. Unfortunately, one piece of advice which I always give my clients is too often ignored: hire a commercial building inspector inspection to check out the space being leased and/or the condition… Read More »

Alternatives to Franchising Your Business

By Godfrey Legal |

Since franchising your business is an expensive undertaking, you should consider other means of expanding your business. We will very briefly look at 5 of the various business expansion vehicles as compared to franchising: 1. Company-owned expansion Advantages: Branch offices with control over all aspects of the business. Disadvantages: Heavy capital outlay, management/employee issues,… Read More »

Primer on Trademarks Vs. Urls and State Corporate Registrations

By Godfrey Legal |

I often encounter clients that come to me to complain about infringement of their “trademark” based on the assumption that particular actions they have taken constitute a registration of a “trademark”. I have outlined some basic distinctions which will help you determine the status of your “trademark”. A domain name (a/k/a URL) is a… Read More »

Scams: Business or Individual Selling on the Internet

By Godfrey Legal |

Internet scams continue to thrive, but you can protect yourself from being victimized by unscrupulous scam artists. I was almost ripped-off by a scammer when I listed a car for sale on two reliable internet sites, and it can happen to you. Whether you are an individual or have a business selling on the… Read More »

Beware the “standard” Business Contract

By Godfrey Legal |

There is a very common misunderstanding of the term “Standard” when it comes to written contracts. All too often individuals mistake the term “Standard” to signify something that has been approved and authorized by “neutral” authority and/or is deemed to be fair and equitable to both parties to the contract. Or they mistake the… Read More »

Property Inspection

By Godfrey Legal |

General Checklist For Physical Inspections Whenever dealing with leasing or buying land, a building or space in a building, it is important to do your homework regarding the physical condition of the property. Here is a preliminary list of items I recommend my clients investigate. 1. Utility inspection as to operating conditions, capacity, code… Read More »

Considerations for Starting a New Business

By Godfrey Legal |

I have assisted a number of clients in forming a new business that meets their particular business and economic concerns. I have noticed that a number of things of a minor nature always come as a “surprise” to my clients, and I would like to share some simple procedures that may save you time… Read More »

Your Business: From Concept to Franchising

By Godfrey Legal |

Every week I get at least one call from a successful business owner wanting to explore franchising their concept. Typically, during this complimentary introductory call, the caller requests a ballpark figure of the costs involved. Typically I advise that there is a myriad of issues and concerns to be addressed, and briefly outline just… Read More »

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