Is your mark qualified for federal registration or will the US Patent and Trademark Office (USPTO) deny your application?

Whether a mark is qualified for federal registration depends upon the following factors:

1. The USPTO must consider your mark to be distinctive.
2. The mark cannot legally conflict with another mark.
3. The mark has to be in actual use.
4. The mark’s use must be subject to Congressional regulation.
5. The mark cannot be scandalous, immoral or deceptive.

If you want to find out more about these five factors, please fill out our contact form and we will email you a pamphlet that explains in more detail the qualifications for obtaining a federally registered trademark.

1. Consideration
2. Mutual Assent

Consideration

Consideration is a legal term for quid pro quo.  In other words, consideration is something of value that is offered in exchange for something else of value.  In everyday experience, when you buy a box of Krispy Kreme donuts you give up some money and in exchange the store gives up the donuts.  Both the money that you give up and the donuts that the store gives up have value to the respective parties.  Essentially there are two separate concepts required for consideration to be valid and enforceable.

The first concept is the actual sought after exchange.  In legal circles this is called the “bargained for exchange“.  In my previous example when you go looking for Krispy Kreme donuts you are seeking out an exchange.  Additionally, the store that offers the donuts for sale is also seeking out an exchange.  In other words, there are at least two parties looking to exchange something that the other party has to offer.

The second concept involves giving up something of value in order to get something of presumably greater value.  However, often parties to contracts are seeking to exchange intangible items.  Unlike donuts and cash, intangible items might be something like a promise to provide a service.  A good example of this is the arrangement you have with your cell phone company.  The cell phone company promises to give up cellular bandwidth in exchange for your promise to pay them for such use at the end of each month.

Mutual Assent

Mutual Assent is another legal term for a shared understanding of contractual obligations between parties.  In other words, mutual assent is present whenever there is an offer from one party that is accepted by the other party.  Going back to the donut example, the grocery store offers the donuts for a specified price.  This is the offer.  When you give the cashier the asking price for the donuts you are accepting the offer and entering into a binding and enforceable contract.  Mutual asset cannot exist until both parties understand and agree to be legally bound by their respective obligations.

Most simple contracts do not require the assistance of counsel.  Contracts are really just common sense.  However, if you are an entrepreneur, doctor or other self-employed professional you will eventually get into more complicated transactions where legal technicalities will be ever present.  It is in these instances when you should have a professional draft and review your agreements.  A major cause of expensive business litigation is a poorly drafted contract.  Now you know contracts and knowing is half the battle!

Factors Differentiating C Corporations and S Corporations

Taxation
Taxation is the key difference between the two types of corporations. C Corporations face double taxation. They face one form of taxation at the individual level, and the other at the corporate level. The government taxes the corporation on its profits and the company’s shareholders also pay taxes on the company driven earnings such as dividends or any other special payouts. S corporations are exempt from this form of taxation. Instead, profits and losses are passed on to the shareholders according to their stake in the company. The shareholders pay the taxes for an S corporation at the individual level. The shareholders deduct any business losses in their individual tax returns. Also, S corporations can elect to distribute money as profits rather than as salaries to the shareholders. These S corporation profits are exempt from Social Security and Medicare taxes. At the time of selling the corporation as well, the tax on the profits is lower for the S Corporations than for the C Corporations.

Ownership
A non-US citizen or a non-resident alien can own C Corporations, apart from US citizens. Only US citizens or resident aliens can own S Corporations.

Business Entity
Other business organizations may own C Corporations, but they can’t own S corporations.

Number of Shareholders or Members
C Corporations can have an unlimited number of shareholders. The number of shareholders in an S Corporation is limited.

Stock types or ownership interest
C Corporations can issue all types of stocks. S corporations can issue only one type of stock and they can’t issue preferred stocks

Timely Status Election
The IRS requires S Corporations to file for S Corporation status by the sixteenth of the third month of the tax year in which the election is due. Alternatively the company may file this form at anytime in the tax year preceding the tax year in which the election is to take place. An election completed within two and a half months of the beginning of the tax year is a timely election. An election made after the middle of the third month but before the end of the current tax year will be effective in the next tax year. C Corporations do not require any time frame.

An Additional Thought
Each type of corporation has its own advantages and disadvantages. A well informed and well-thought out decision should be made upon the type of corporation you wish to file the articles for.

About the Author
David Gass is President of Business Credit Services, Inc. His company publishes afree weekly e-newsletter on Small Business Consulting at their web site http://www.smallbusinessconsulting.com

Article source:
Understanding The Difference Between C Corporations And S Corporations

Among the many business-friendly laws, Delaware does not require corporations to operate in the state, only to maintain a registered agent, who may be an individual resident, or an existing domestic corporation. Additionally, incorporations typically take 24 hours to process, however there are services that allow same day, and 2 hour filing. There is no corporate income tax for corporations incorporated in Delaware, but not transacting business in the state. Further, the cost to incorporate is one of the lowest in the country, and one person can hold all officer positions of the corporation. Officer names are not required to be listed in the articles of incorporation. Shares of stock owned by persons outside of Delaware are not subject to Delaware taxes.

Delaware maintains a separate corporate court system, called the Delaware Court of Chancery, that does not use juries, but only uses judges appointed for their expertise in corporate law. The Delaware Court of Chancery is a 210-year-old business court that has written most of the modern U.S. corporation case law. It is widely recognized as the nation’s most distinguished agency for dispute resolution involving corporate litigation. The state legislature takes seriously its role in keeping the corporation statute, and other business laws current. Their unique expertise in, and exposure to issues of business law are supreme. Currently the Court of Chancery has made docket information, and pleadings available over the Internet for civil actions filed in the Court.

Delaware’s State Government is business-friendly and accessible. The Division of Corporation is in the forefront of efficiency, and their professional staff provides prompt, friendly services to clients, attorneys, registered agents and others. The office of the Secretary of State operates more like a business rather than a government bureaucracy with its leading edge technology, and customer-service oriented staff.

Delaware may make sense for large corporations, however it may not be worth the effort for small, privately held corporation who do business in their home state. Although Delaware does not tax out of state businesses, taxes must be paid in the state the business is operating. While incorporating fees are lowest in Delaware, appointing a corporate agent to receive official notices in Delaware may negate any realized costs savings. All factors considered, Delaware is a premiere legal home to companies all around the world.

About the Author
Jay B Stockman is a contributing editor for Online Small Business Consulting Visit http://small-business-usa.com/ for more information.

Article source: http://www.contentdragon.com/content/business/why-choose-delaware-as-your-corporate-home/