Is the recession affecting different areas of the county differently?

by | Feb 21, 2009 | Business News

As some of you know, I recently traveled to Jacksonville, Florida to visit family. While there, I took note of how the local small businesses seemed to be faring in these economic times. Unfortunately for them, it appears that the recession has hit harder there than my hometown of Denver.

Having talked to owners at events around the Denver Metro Area, I know that businesses here are struggling. I’ve seen it as I drive around the city. Thursday night I saw that a store I had been meaning to visit, Japon on Colfax, had closed its doors. Within the past couple of months I had read an article that the owner had been mulling over the idea because business had slowed but it wasn’t until that night I realized she had made her decision.

However, as opposed to seeing a store here and there closed on Colfax, I saw stores closed left and right as I drove down Main Street in Jacksonville. Now Main Street isn’t quite like our Colfax – it is probably a little poorer and hasn’t been as lively as Colfax as long as I can remember. However, it is an area that was up and coming. Houses in the neighborhood were being renovated and small boutique stores and restaurants had started to pop up here and there. Road work started last year to improve the road and signs had been put up about how you were “Entering the Historic Springfield District”. Over the last few years, it had started to look like it might end up much like our Colfax – a fun place to visit with an interesting mix of people hanging around.

Today, though, I saw firsthand how the economy hit places worse than others. Florida’s real estate market boomed in the late 1990s and early 2000’s. Condos, track houses, and commercial real estate were being built faster than you could blink your eyes. Investors, hoping to flip places as soon as or even before they were complete, would buy properties that were still only drawings. And like a kid playing with a balloon, when it got hit with something, the balloon burst.

Housing prices are a fraction of what they once were. Thriving businesses now have for sale signs on them. And Main Street has returned to looking like it had – a street that has potential but has a long way to go. Several restaurants that just last year had cars in front of them every time I drove by were empty or closed – even a fast food place had shut down. Several businesses on the south end had plywood over their windows with warnings about trespassers and for lease signs. Renovation projects sat half complete with no signs of being completed any time soon.

I compare this with Denver, where only a handful of businesses have closed so far. Maybe it is that the values in Denver didn’t increase so much in so little time. Maybe it is that Denver still has several industries, such as renewable energy, that are weathering the economic storm. Maybe it is that Denver didn’t have quite the levels of poverty that the South prior to the downturn. What factors played a role in this I don’t know; however, I do know that next time I hear about how bad the recession is, I will look at it differently and realize for some areas, it is far worse than what I have seen.

How to choose an attorney

by | Feb 12, 2009 | Business News

How to choose an attorney

I’ve been asked by some how you should choose an attorney.  Well if you are needing something other than a business attorney in Colorado (because admit it, if you need a business attorney in Colorado, I rock), I have a few suggestions for you to help choose a great attorney for you:

1.  Try to get recommendations for people you trust that have used the attorney or know something about attorneys.  For instance, if you have had a friend go through a divorce, ask him or her about their divorce attorney.  If you use me as your business attorney, ask me if I can recommend someone to help you with a patent.

2.  Make sure you get along with your attorney.  If on first impression, you don’t click, don’t try to force it.  It is better to use the second or third best attorney in the field if it is someone you can talk to than the best attorney in the field who you can’t stand.  Trust is key when dealing with your attorney.

3.  Ask for recommendations from the attorney you are interviewing.  Many attorneys can refer you to former clients that can tell you what they thought.  Some, like me, have recommendations on their linkedin.com profile that you can view.  Hiring an attorney is like a job search – knowing their resume and recommendations isn’t too much to ask.  However, keep in the back of your mind that lack of recommendations doesn’t mean the attorney is bad, it may just mean that clients don’t want to break the attorney-client priviledge.  Use your best judgment.

4.  Ask what the attorney specializes in and find out if he or she has handled cases like yours before.  In some situations, an attorney may not have done something exactly like your case but should have done something similar.  If possible, also find out what type of cases the attorney likes to take.  If the attorney hasn’t handled your type of case but has a passion for x, it may make the attorney the perfect candidate for your case involving x.

5.  Ask what the attorney’s communications policy is.  Attorneys, like all other professions, have various policies on communication.  My policy is to return phone calls or emails within one business day – even if just to say I got your message and need to set up an appointment.  Some attorneys return them within two days, some weeks.  If prompt replies are important to you, ask upfront for return time on calls and emails.

6.  Clearly understand what the fees are.  Does the attorney work on contingency?  hourly rate?  flat fees?  Does it depend on the issue?  Some attorneys offer what sounds like the same service but if you compare what attorney a does with attorney b, the packages may be completely different.  If one attorney will do what another attorney will do for half the price, there is a chance that you are really only getting half the work done so be clear on what you get.

If you have other suggestions for picking an attorney, please post them. If you feel like posting about the multiple reasons that I am a great pick as your business attorney, feel free to do that too!

And, as always, if you need a business lawyer, or just think you might need one, please email me, Elizabeth Lewis, at elizabeth.lewis@eclewis.com or call me at 720-258-6647.

Laptop Cafe next Tuesday

by | Feb 9, 2009 | Business News

Next Tuesday, February 17, is the February Laptop Cafe.  If you have legal questions, I will be on hand offering free 30 minute consultations.  In addition, there will be experts in social media, online development, and photoshop.  For more information, please contact me at Elizabeth.Lewis@eclewis.com.

Smoke ’em if you got ’em

by | Feb 7, 2009 | Business News

In a recent Westword article, it was mentioned that a growing industry in Colorado is medical marijuana.  Since Amendment 20 passed in 2000, Colorado is 14 states that has decriminalized medical marijuana.  While marijuana is illegal under federal law, in Colorado, patients with documentation from their doctor that it is necessary can cultivate, possess and use medical marijuana.  (Which means you can be arrested under federal law, just not state law for using medical marijuana.)  This has created a new business for those willing to enter it.  Everything from dispensers to growers have seen a new business venture in the making.

However, when entering a business that is on the shady side of the tracks, it is essential to get good legal counsel.  Unfortunately, this goes not only for businesses dealing in medical marijuana, but also for adult stores, liquor stores, and cigarette stores.  As these stores tend to be magnets for both profit potential and community dislike, having the proper business set up can make a big difference.  In addition, if you are a store that sells products that can only be sold to people over a certain age, it is necessary to have a strict employee policy in place regarding sale to minors.  You also have to abide by stricter zoning laws regarding where you business can be place.

If you have any questions about starting your small business, please contact me, Elizabeth Lewis, at Elizabeth.Lewis@eclewis.com or 720-258-6647.

Selling and Buying Intellectual Property in a Down Market

by | Feb 3, 2009 | Business News, IP Law

In a recent article in the Chicago Tribune, the newspaper revealed that more and more companies are leveraging their intellectual property to help them through these economic times.  Companies that have unused trademarks, copyrights, and patents in their inventory that they aren’t using are auctioning them off to the highest bidder who can use them.  Companies that buy these unused trademarks, copyrights, and patents are starting to use for new businesses and new products.

So how can you as a business benefit from this trend?  If you have unused intellectual property, you can try to find businesses to buy it.  When selling intellectual property, it is important to determine whether you want to sell it outright or whether you want to license the rights to use it for certain timeframes to ensure that if the intellectual property becomes more profitable.  It is wise to speak to an attorney to ensure that your rights are protected in any contract written.

If you are buying unused intellectual property, you want an attorney for the same reason that the seller does.  You may want to buy the intellectual property outright or you may want to have a staged amount of money you pay for it depending on whether it become profitable or not.  An attorney can help you write the contact for purchase to ensure you get the most favorable deal.

If you are debating buying or selling intellectual property, you can contact me, your Denver Business Lawyer, Elizabeth Lewis at elizabeth.lewis@eclewis.com or at 720-258-6647.

Can laws help businesses?

by | Feb 2, 2009 | Business News

In a followup to a previous post, Sunday proved to be a big day for liquor stores.  Although many have complained that their sales on Friday and Saturday are less now that people can buy on Sunday, Superbowl Sunday showed a change in the law may have been useful.  Stores found that the number of people buying increased more than expected.  In the past when people either forgot to get drinks for the big game or ran out before it was over, they went out for the game or just didn’t drink as much (or at all).  This year, more people bought liquor as it was available on Sunday.

So what does this mean to the average business owner that doesn’t own a liquor store?  If you can think of a law that affects your industry, it may be wise to work to change it.  The first step is determining if there is a way around the law with the help of your attorney.  If you cannot find a way to legally circumvent the law, you can hire a lobbyist to work on your behalf to change the law.  Lobbying usually works best when a large number of people support the bill, so if you are thinking about going this route, you need to start thinking about a coalition now.

If you have any questions about laws affecting your small business, please contact me, Elizabeth Lewis, your Denver Business Lawyer, at Elizabeth.Lewis@eclewis.com or 720-258-6647.