This month’s Business Bytes highlights funding your buy/sell agreement, copyright, and insurance broker’s liability.
Funding Your Buy/Sell Agreement. After the owners of your business agree to the terms of a buy/sell agreement, you may want to consider creating a funding mechanism through life insurance or otherwise to ensure your goals can be accomplished. Before buying life insurance for this purpose, consult your tax adviser and counsel to ensure you maximize the benefits and reduce the risks and costs of such protection. READ MORE.
Copyright. Your literary, dramatic, musical, video, audio, or graphic creations can be protected from misuse or others’ commercial use by obtaining a copyright. Similarly, you can be financially liable for misusing or profiting from the use of another’s copyrighted materials. To copyright or not and to use or not can be difficult questions. READ MORE.
Insurance Brokers Liability. While most states limit a policy holder’s ability to sue its insurance agent (employed by a carrier) or broker (independent) for providing inadequate or inappropriate policies or coverage, some courts are eroding that protection. While the general rule is that the policy holder read and understood the policy and coverage purchased, brokers and agents are increasingly subject to suits. READ MORE.
