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How to Protect Your Greatest
Asset: YOU! Part II
Laura Sanders Fowler JD and J. Nevin Shaffer JD
Printer Friendly Version |
Dear Readers:
If you weren't persuaded by Tuesday's Legal Corner to attend next Thursday's Continuing Education course, How to Market Successfully Without Getting Sued, Grieved or Indicted at the Northwest Market Center from 1:00 PM to 3:00 PM on April 24th , well… prepare for maximum persuasiveness! The second hour is going to be even more fun than the first, especially since you get to laugh at all the mistakes your biggest competitors made after spending oodles of money on print ads, websites and flyers that were not only poorly designed, but also failed to protect their most valuable asset: themselves.
But don't think that just because we point out the errors of others, that no Keller Williams agents make them. We will not discuss Keller Williams agents out of professional courtesy, but those errors exist as well. In case you don't know what to do, or if you happen to want to help someone else, here is what the second hour of the training is designed to help you with:
Choosing a name for your business, unless it is your name (which isn't terribly imaginative), is a huge decision. And you are not fully equipped to make this decision until you accept that trademark rules are frightfully illogical. Spending a lot of money on billboards, print ads and signage makes no sense at all of you choose a name that is already in use, or is something so general that everyone in your field would be inclined to use it. For example, back when your team leaders Linda Bartlett, Eric Copper and Mary Lynne Gibbs were practicing sales agents, if they had called themselves “The Linda Bartlett Team” there would have been little chance that anyone else was going to use that name to market real estate in Central Texas, and potentially an even greater area than that. If instead they had decided to use the name “Eric's Team” it would have been very difficult to acquire a trademark; even though it contains the name of one of the team members, it is just too general. And even if they had obtained a trademark for a general name, how would it have done them any good in terms of recognition?
And then there are the groups of people that like to pick a catchy or descriptive word or phrase to define their group. While this seems like a good idea, be very careful. Although it is perfectly appropriate to do this, you can't really protect common names like The Good Group or Very Best Realty if you don't have a trademark. The closer the words are to something that is a common phrase, the more difficult they are to protect. And returning to the marketing standpoint: you will want something distinctive that people are going to remember. Our seminar will discuss trademarks!
Now what about protecting yourself from other people who want to steal what you have spent a fortune developing? What about protecting the goodwill and customer relationships that you have? Well, to really understand how to do these things, you will just have to come to our training! In the meantime, we will give you a few pointers:
1. If you have spent time developing client or customer lists that you would prefer others not walk out the door with and start using, there are ways to stop them dead in their tracks. But you will not be able to do this effectively after they have already become a part of your team, so you will need to do it before you ever ink a deal.
2. If you really cherish your business information, define what constitutes your “business information” before you expose an employee to it. Over and over again, we see generic forms that someone downloaded off the Internet that don't do any good because they are general recitals or prohibitions. Texas courts abhor these forms and typically will not enforce them.
3. Much of the time, your most sensitive information (everything from computer consultants to graphic arts and database systems) is entrusted to consultants. Are you requiring them to sign something before you turn over that information to them? If not, you are probably in for a rude awakening when you see them giving it to your biggest competitor. And, most likely, there is nothing that you can do. Consider this point, and make sure that you have a carefully worded Non-Disclosure Agreement that you can ask any consultant to sign before you give them access to your information. Never forget: if they are soliciting your business as a realtor, they are soliciting everyone else who is a realtor too. And unlike certain classes of professionals who have a duty to treat information confidentially, most of the technicians described above have no duty whatsoever to protect your information, unless or until you make them agree to do so. Our seminar will discuss this, Trade Secret Law, as well.
Hey, do you remember that gorgeous layout designed by a top-notch graphic artist that you spent a fortune on? Well, guess what: that layout is owned not by you but by the graphic artist, who can sell it over and over again to other realtors who may want the same lovely design. It is just like buying a one-of-a-kind dress from a chic designer, only to see it on your rival a week later at the same charity ball! This is exactly how graphic arts designs work, unless or until you word things differently. Copyright Law is as illogical as any of the Intellectual Property Laws. But Copyright Law is one of the reasons that Bill Gates is among the richest people on the planet. Come to our seminar and find out why, as you learn Copyright Law as well!
We can't wait to see you all at the upcoming training. We will all Laugh and Learn™!
Laura Fowler and THE FOWLER LAW FIRM P.C . are so grateful to so many of you who have helped to make our firm a success. The Fowler Law Firm P.C. is a full service law firm whose attorneys have many years of experience in the handling of real estate, family law, probate and estate, business formation and taxation. We never charge a client a fee or incur any expense until the client understands and agrees. In addition, we often counsel with your clients and friends and give them the information they need at no charge when we cannot truly be of service. For more information or to refer a matter to us please contact us at (512) 441-1411 or visit our website at www.thefowlerlawfirm.com .
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This information is provided by Laura S. Fowler JD and J. Nevin Shaffer JD, Attorneys at Law with The Fowler Law Firm PC. It is not intended as a substitute for careful review by legal counsel of your choosing. We would be most honored to assist you in your every real legal need.
Contact Laura Fowler at lfowler@thefowlerlawfirm.com
or call (512) 441-1411.
Contact J. Nevin Shaffer at nshaffer@thefowlerlawfirm.com
or call (512) 441-1411.
As with any legal issues, please consult your attorney with questions.
