The Traklight Blog

Explore the world of intangible assets and IP with guest blogs, business owner interviews, and more.

Have Success With Your Small Business

Small businesses face a number of challenges as they try to grow.  Being a small company means have to approach things differently than larger companies in your field. And while a lack of assets can be a hindrance, it can also offer flexibility. Bigger businesses may have the money and workforce, but they can also fall victim to an entrenched mindset that can prevent new and innovative thinking. Here are some ways that small businesses can succeed while the odds are stacked against them..

Read More

Evolve Law Summit: Strategic Partnerships

Our second Summit panel was on the topic of strategic partnerships. The panel had a wealth of knowledge to draw on in discussing the idea of strategic partnerships from the perspective of both the smaller company and the larger company in the relationship.

Read More

Sidestepping Common Startup Mistakes

This article originally featured on the GoDaddy blog

Starting a new business venture is exciting. Whether you’re joining the ranks of the startup CEO, creating new products and services, or becoming your own boss in a more traditional business, you’ll most likely feel a mixture of thrill and fear. Don’t get too overwhelmed, though, or you’ll skip over important steps in the first several months that are critical to ensuring the best foundation for your new business. Let’s first look at the top three startup mistakes early-stage companies make:

Read More

Have a More Productive 2017

We all struggle with productivity in one way or another. Perhaps we find it hard to tackle certain tasks that nevertheless need to be done. Possibly you've put off important decisions that seem difficult. Or maybe you feel that for all that you feel you're doing, you aren't accomplishing as much as you would like. We've all been guilty of not working up to our abilities in one way or another, and as much as we want to change it, we find ourselves stuck in old habits that can exacerbate these tendencies.

Read More

Avoid Legal Disputes to Keep Your Business on Track

You value the work created by yourself and your employees. You take great care to make sure that you take the necessary steps to protect it with patents, trademarks and copyrights, and you are diligent in making sure that your employees aren’t divulging sensitive information like trade secrets outside the office.  You understand that the intellectual property your business generates is valuable, and you want to make sure that you are protecting that value by not allowing others to use it. But are you as considered when it comes to the rights of others?

Read More

Have Agreements in Place to Protect Your Business

While many businesses start as solo ventures, at a certain point you have to rely on others in order to have success and grow. Whether it’s people working for you or with you, the odds are you’re going to need help at some point. And that is probably a good thing; while solo work allows you to pursue a singular vision without having to compromise, coworkers and collaborators bring new ideas and new skills that you previously didn’t possess.  But working with others isn’t always easy, and adding people to your business brings about complications that need to be addressed before they turn into serious issues.

Read More

Avoid Failure to Launch: Part VI

In Part VI, our final blog in the series based on attending David Durick of Paychex’s workshop at the Small Business Expo 2016, we analyze step nine and ten. The necessary contracts are identified with Traklight’s free Business Risk Assessment,  which you can access here. To identify, track, and protect valuable IP, you can upgrade to our Full ID your IP product for a special price of $99 with this code: BMBPC16.  The Risk Chart and IP Diagnostic link you to Paychex partners who can help both address your issues and protect your IP.

Read More

Avoid Failure to Launch: Part V

The fifth part in our series  based on David Durick of Paychex’s workshop at the Small Business Expo 2016, examines step seven and eight of the ten critical steps to building and protecting your business. If you are not sure which administrative tasks apply to you, please join Traklight here and take the free Business Risk Assessment. The Risk Chart on your dashboard will help by linking to Paychex partners who can minimize your risks and increase your chances of successfully launching your business. You can save time and money on some of these tasks by downloading and reviewing your Strategy Report located on your dashboard as indicated below.

Read More

Avoid Failure to Launch: Part III

The third in our series based on attending David Durick of Paychex’s workshop at the Small Business Expo 2016 examines the third and fourth of the ten critical steps to building and protecting your business. If you are not sure which steps apply to you, please join Traklight here and take the free Business Risk Assessment with our compliments.

Read More

Run Your Small Business Effectively

As a small business, you have to approach things differently than larger companies in your field. But that doesn’t necessarily have to be a disadvantage. While big businesses have considerable resources to draw from for projects, they can also be the victim of an entrenched mindset that can prevent new and innovative thinking. Here are some ways that small businesses can succeed at winning an unfair game.

Read More

Avoid Failure to Launch: Part 1

I recently had the pleasure of attending David Durick of Paychex’s workshop at the Small Business Expo 2016 in San Diego. David, a 32-year business veteran, has worked mainly in business to business throughout his career but almost exclusively with small business, five to ten employees.  David spearheads BuildMyBiz.com for Paychex and presented 10 critical steps to building and protecting a business.

Read More

FORBES Update - Failing Gracefully: The CaseRails Journey

A legal technology entrepreneur and friend of mine created automated intake forms for her practice. Her goal was to sell this technology to law firms and consumers. Unfortunately, though, consumers will not proactively complete the forms. She found out the hard way that she had created a product with no demand. Much has been written on how to succeed, including tips and tricks for all the challenges that small businesses face. You often read stories about rapid growth and startups killing it, but it’s not too often you hear about the unsuccessful journeys.

Read More

FORBES Update: Build It and They May Not Come

In this installment of our lessons learned series (co-authored by me and Traklight’s Mike Willee), we move from funding challenges to getting your product or service to market. You start a business with the aim of creating a product or service to offer to consumers or businesses. You spend time and resources developing this product along with a website to showcase your creation. But when you unveil your new business for the world to see, you’re met with indifference.  While it’s probably unreasonable to expect that customers would be beating down your door from day one, you expected at least a few curious souls to check out what you have to offer. Such can be the frustration that comes when you neglect to build your brand before your launch.

Read More

Don’t Risk it All! Tips for Maximizing Value

skyscraper-1031581_1280.jpgNo small or medium-sized business owner ever got up and said, "Today is the day that I am going to identify my risks and do an inventory of my intellectual property to maximize my value." It takes an event – a visit to a lawyer, a plan to fund retirement by selling your business, or at worse, a cease and desist letter.

Read More

3 Mistakes Business Owners Need To Avoid

As a business owner, innovator, and someone looking to grow, you appreciate mistakes happen from time-to-time. It comes with the territory of pushing boundaries and doing what the vast majority don’t, but that isn’t to say you can’t transform even your biggest business mistake into your greatest success yet.

Read More