Protect Your Business With Non-Disclosure AgreementsWritten by Richard A. Chapo
Every business should protect proprietary information when dealing with independent contractors, vendors and other businesses. The best way to do this is to use a non-disclosure agreement, often referred to as an “NDA.”What is an NDA? An NDA is an agreement between two parties to protect confidential information disclosed in a business transaction. The proprietary information can include business methods, finances, client lists, and anything that isn’t already readily available in public arena. If a party subsequently breaches NDA, injured party can sue for damages, an injunction against further disclosure and attorney’s fees. Directional NDA In many situations, only one party requires protection provided by an NDA. If you invent a new product, you are going to need an NDA from manufacturers, distributors, etc., before you discuss product with them. While this may seem like common sense, most businesses fail to carry thought through to their daily activities. Practically every business hires independent contractors, but they rarely obtain NDAs prior to disclosing information to contractors. For example, do you use third parties to create or maintain your websites? Did you obtain NDAs from any of them? If not, what’s to keep that party from using your business methods on other sites? A directional NDA can keep this from occurring. Mutual NDA As name suggest, a mutual NDA allows two parties to protect confidential information. The mutual NDA is typically used when two businesses are negotiating a joint venture. Each party must disclose enough information to make negotiations viable, but neither wants that information made public if negotiations fail. If negotiations go well, additional non-disclosure information will be incorporated into joint venture agreement to protect additional information revealed during joint venture.
| | Small Business Tax Credit - Americans with Disabilities ActWritten by Richard A. Chapo
Many small businesses complain when confronted with expense of complying with Americans with Disabilities Act. Most do not realize that there are a number of tax incentives available to offset costs. Importantly, one tax incentive comes in form of a tax credit, which is far more valuable than a tax deduction when it comes to creating tax savings.Disable Access Tax Credit If you make your small business accessible to persons with disabilities, you can take an annual tax credit. Your business is eligible if you earned one million or less previous year or had 30 or fewer employees. If you meet this test, you can claim a tax credit of 50 percent of your expenditures to a maximum of $5,000. Since this is a tax credit, it is deducted from your total tax liability. To claim this tax credit your expenditures must be paid or incurred to enable your business to comply with Americans with Disabilities Act. Expenditures might include: 1. Purchase of adaptive equipment or modification of equipment; 2. Production of print materials in alternate formats such as Braille or audio; and 3. Sign language interpreters for employees or customers. Modifications to buildings or offices also qualify as long as two criteria are met. First, modifications cannot be construction of something new. Second, building must have been in service prior to November 5, 1990.
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