William D King- How to Properly Value Your Law Firm for Buy-Sell Purposes

The most important matter in the sale of any business is to achieve a maximum price for the company being sold says William D King. This may be an extremely difficult task when you are selling your own law practice for many reasons. Often times there are no true market value for the company. To make matters more complicated, since practicing law is not an exact science (like developing a product) it is often difficult to determine the value of your own business. Here are some important elements that will help you properly value your legal practice for buy-sell purposes: 1. Objective/Reasonable Evidence – The basis for any valuation is to establish a reliable measure of objective evidence. Objective evidence includes the application of specific indicators of value based on appropriate data or research. 2. Asset Approach – The primary method for establishing the value of an individual law practice is the asset approach (which also known as “The Market Approach”) which takes into account all components of your business that can be assigned a market value including: goodwill, client relationships, non-compete agreements, leaseholds and other assets associated with your practice that can be sold in “Arm’s Length” transactions (transactions between unrelated parties). 3. Creditor Claims – Do not forget to consider any outstanding creditor claims against your company when determining its true worth. For… Read More »William D King- How to Properly Value Your Law Firm for Buy-Sell Purposes

William D King explains How to Identify a Top-Notch Lawyer for Your Small Business

Before you start looking for a lawyer, it is important to figure out what type of legal help you need says William D King. If this is the first time that you are beginning to look for a lawyer for your small business, then there are other questions that should be asked. This article will provide tips on how to identify top-notch lawyers and information on other things you should know before hiring one. So you’re thinking about hiring a lawyer but aren’t sure if your business is big enough to justify it? Think again. Although bigger companies can afford to hire entire teams of lawyers, the truth is that many smaller businesses could benefit greatly from legal representation as well. If you think your company might need an outside perspective on anything from copyright infringement to intellectual property rights, you should strongly consider finding a lawyer for your business. Here’s some advice on how to go about hiring a top-notch attorney: 1. Trust the process.   When you’re looking for a good lawyer, don’t just hire the first one that comes along. You’ll want to find someone with whom you feel comfortable and who has the appropriate experience to handle your case, but this is particularly true when you’re dealing with small businesses. Because many of these cases require more human interaction than some… Read More »William D King explains How to Identify a Top-Notch Lawyer for Your Small Business

William D King: How to Avoid Becoming a Victim of Identity Theft (Or Any Other Crime)

As founder of Christian Money Management, he works primarily with people who have a serious debt problem–and it’s more often a spiritual issue than a financial one says, William D King. For those who want to learn more about money management without going into debt or using credit cards, visit his website for resources. May not be used or reproduced without written permission from the author. Many people have a false sense of security when it comes to identity theft and other financial crimes. They figure that they’re just too smart or lucky to become a victim. Unfortunately, if you live in these times, your luck can run out at any moment–in many different ways! The only way to truly protect you is to be aware of the threats and take precautions accordingly. In this article we’ll look at some of the most common risks and how you can avoid them. There are two main types of ID theft: Financial Identity Theft: This occurs when someone uses your personal data (name, social security number, etc.) in order to new accounts in your name or to access your existing accounts without your knowledge. This is the most common type of ID theft and it can have a devastating financial impact explains William D King. Crime Identity Theft: In this case, someone assumes your identity in order… Read More »William D King: How to Avoid Becoming a Victim of Identity Theft (Or Any Other Crime)

William D King explains How 3D Printing Is Changing Intellectual Property and Invention Disclosure

“I got a 3D printer for Christmas,” said everyone. “Now what?” Well, if you’re like most people, you’ll use it to make this (below) and that’s cool because we need more cat stuff in the world says, William D King. But then comes the inevitable, “Hey, why not print out an iPhone stand?” At which point your mom says, “You can’t do that! That’s illegal!” And you say, “No it isn’t. I read it on the Internet.” Here is how 3D Printing is Changing Intellectual Property and Invention Disclosure: And then your dad yells at you to go outside and cut the grass with scissors – because he doesn’t want you touching his lawnmower (because of safety concerns). So then you mosey on outside, but are totally confused about what is legal or not when it comes to reverse engineering something so you Google it… And lookee here – suddenly 3D printing becomes a whole lot less fun. But why? What’s changed now? Well, now everyone knows how easy it is to make stuff with commercially available, personal manufacturing devices they have right in their own homes. You know, like a MakerBot Replicator 2 (that’s what I have). This is not your father’s basement darkroom anymore – this is the garage of the future. So one day you get inspired and make this: That’s such… Read More »William D King explains How 3D Printing Is Changing Intellectual Property and Invention Disclosure

William D King: Getting Rid of Toxic Employees without Breaking the Law

When it comes to toxic employees, they’re like roaches—no matter how many times you try to stamp them out, they manage to survive says William D King. But even though you can’t offload these employees without breaking the law, here are some tips on how to help them move along and get back the productivity your company deserves: 1. Let Them Know You Don’t Like Working with Them First and foremost, don’t sugarcoat it. Toxic employees do nothing but poison those around them, so be honest with yourself and with your employee right from the start as to why he or she is such a bad coworker. Once your toxic staff member gets wind of this fact, s/he will more than likely choose to voluntarily choose to leave since there’s no way they’ll want to stay in an environment where everyone hates working with them. 2. Talk to Your Employees Once you’ve expressed your desire to see your toxic employee go, it’s time for that dreaded conversation. While there are no “best practices” for this situation, approaching them with a calm demeanor is the best thing you can do—and remember, don’t forget to keep things professional! And if they’re not willing to leave on their own accord, let them know that any other negative behavior towards coworkers will be met with disciplinary action. 3. Don’t… Read More »William D King: Getting Rid of Toxic Employees without Breaking the Law

William D King explains General Counsel’s Role in Board Meetings

The Board of Trustees is the governing body of a college or university and has responsibility for establishing general policy and developing overall objectives for the institution says, William D King. The board delegates to its committees and their chairmen, as appropriate, such matters as it may designate by formal action. Under Section 414 of the Education Law, only the elected members (Trustees) are empowered to take final action on any legislative matters brought before them or any other business related to the educational policies and administration of an institution. It should be mentioned that no one can transact business at a meeting unless he/she is duly notified in accordance with guidelines set forth in New York’s Open Meetings Law. Here is General Counsel’s Role in Board Meetings: According to both the New York State Commissioner of Education and counsel for the Association of Governing Boards, unless it is empowered by its board in advance, a general counsel’s legal role with regard to board meetings is limited. Under NYSED guidelines, he or she must be present at the meeting but may only advise on procedural matters that arise during the course of discussion (e.g., ensuring that motions are phrased properly, whether business can legally be considered at the meeting under open meetings law guidelines). The General Counsel cannot vote, nor does he/she have any authority… Read More »William D King explains General Counsel’s Role in Board Meetings

William D King- Business Continuity Planning: How to Prepare Your Business – and Yourself – for Disasters

The following article is taken from the April 2008 issue of TSW Magazine says William D King. It was written by guest author James M. Keller, who has over 30 years of experience in information technology and telecommunications, including extensive fieldwork for Internet Service Providers (ISP’s) throughout North America and Europe, knowledge management consulting with several Fortune 100 companies, service provider training for government agencies, a systems integrator specializing in ISP practices, and network security analyst for various governments. He is an active member of ISC² (International Information Systems Security Certification Consortium), ACM (Association for Computing Machinery), SPWLA (Society Petroleum Engineers Landsman Committee) and SANS (SysAdmin, Audit, Network and Security). As the threat of terrorism, natural disasters and other forms of emergencies continue to increase both domestically and internationally, now is a perfect time for all business owners to prepare themselves and their companies for any possible contingency. It is important that each company establishes a formal Business Continuity Plan (BCP) as part of its overall Disaster Recovery Plan (DRP), as BCP’s typically provide the necessary guidelines that allow directors to make informed decisions on how best to handle an emergency situation. With this in mind, it is crucial that all decision-makers understand what steps they need to take before a disaster strikes. Self Assessment: One of the most important processes associated with creating BCP’s… Read More »William D King- Business Continuity Planning: How to Prepare Your Business – and Yourself – for Disasters

William D King- Breweries and Their Craft Beers: What You Need To Know About Federal Regulations

You can make your own beer, wine, and hard cider at home without a license. However, there are regulations and permits that must be followed and precautions that should be taken to produce safe and enjoyable libations for friends and family – or for commercial sale if you so desire says, William D King. Regulations vary by state – some states allow unlicensed production of low alcohol content beverages ALL the way up to 30% abv (60 proof) – others do not permit ANY home brewing at all. Initially, the federal government treated homemade alcohol as a health risk – it wasn’t until 1978 that Congress legitimized home brewing activities by legalizing small-scale possession and production of malt beverages for personal use and forbidding states from imposing taxes or licensing requirements on producers. Thus home brewers have had their own federally-mandated sign – a red and white diamond with “Homebrew” on one side and the letter B, circled by a wreath of hops, on the other. As far as craft beers go – it’s not so much the “homebrew” label that matters, but the fact that beer is made with certain kinds of yeast and hops. The equipment used to ferment and brew craft beers has been federally certified as safe by the Alcohol and Tobacco Tax and Trade Bureau (TTB). Breweries producing more than… Read More »William D King- Breweries and Their Craft Beers: What You Need To Know About Federal Regulations

William D King- Bold and Cautious: The Legal Risks of Virtual Reality

Virtual reality can seem like an irresistible option for companies looking to expand their entertainment options and improve engagement with customers says, William D King. VR devices may be used in a wide variety of ways: as immersive platforms for films, television shows or videogames; as platforms for virtual social interaction; tools to educate and train employees; as marketing outlets to deliver advertisements. However, one feature is common throughout all uses of virtual reality: they are highly regulated by the United States Federal Government under the authority of the U.S. Bureau of Industry and Security (BIS). This article covers some of the risks associated with using virtual reality technology without complying with applicable federal laws. THE FEDERAL REGULATORY SCHEME IN A NUTSHELL: Virtual reality devices and supporting hosts (if they originate in/are destined for a country other than the United States) are subject to export controls under the U.S. Export Administration Regulations (“EAR”) administered by BIS, which regulates exports and re-exports of commodities, technology, and software to ensure such transfers do not injure national security and foreign policy interests of the United States. The regulations apply to all items on Commerce Control List (“CCL”). Virtual reality systems use computer hardware and related components that may be designated as EAR99 or classified under Export Control Classification Numbers (“ECCNs”) starting with 5A992 and heading upwards through 5D992.… Read More »William D King- Bold and Cautious: The Legal Risks of Virtual Reality

William D King says Ask an Expert: What Are the Legal Ramifications of Posting Pictures of My Ex on Social Media?

When a relationship goes sour, emotions can run high. If you have been in an abusive relationship with your ex, the emotional strain might have left you feeling helpless and looking for revenge says William D King. Sometimes when people feel that way they try to get back at their ex by humiliating them or hurting them in some way. This is not a bright idea in most cases but a lot of people do it because they don’t think about the consequences. One popular method of embarrassing someone is through online social media sites such as Facebook. People will post pictures of their ex on these sites without their permission with embarrassing captions or comments below the picture to humiliate them further. Some posts are demeaning while others include tagging friends for more embarrassment. So what can you do about it if you are on the receiving end? It is not only an infringement of your privacy, but also a crime to post pictures of someone else without their consent. This can be done even after a relationship has ended. While some people may argue that this violates one’s right to free speech, there are limits to what type of content you can post on social media sites. If harassing comments or content goes beyond insults and threats, you can file charges against your… Read More »William D King says Ask an Expert: What Are the Legal Ramifications of Posting Pictures of My Ex on Social Media?