Texas is well known for promoting new businesses. One of our older posts discussed a study that ranked Texas's capital city, Austin, as one of the best cities for entrepreneurial growth. Among those entrepreneurs who are establishing businesses in the state, there are many who have creative new ideas that form the backbone of their venture. These could be in the form of innovations or inventions, creative works or some other type of intellectual property that must be protected by patents, copyrights or trademarks.
Trademarks are often key to a business's success and revenue. Litigation sometimes ensues when a business believes their intellectual property is being misappropriated. A recent lawsuit filed by a Texas-based company in federal court in Dallas against a smaller competing business over allegations of infringement of trademark highlights this situation.
Residents of Texas who are planning to form a new business should understand exactly which details a certificate of formation should contain. A certificate of formation is the required document that must be filed with the appropriate government state agencies when forming a limited liability corporation. The certificate should contain the name of the corporation that is being formed, along with the type of corporation that the entrepreneurs wish to build.
For business owners in Texas, mergers and acquisitions are common. Many people may be aware that the regulations and provisions regarding mergers are different for non-profit and for-profit organizations. Non-profit organizations generally refer to those organizations in which the income is not distributed to any of its members.