by eclewis | Sep 29, 2014 | Business News
If you are thinking about starting a new business, or just thought of an idea for a business, many people think someone out there is already doing it and that they should not bother. Instead of stopping there, why not spend just a few moments putting this idea to the test? By taking some simple steps, you can get a basic answer to the question of whether or not someone is doing the idea that you thought of. Be sure and also take a look at How to Research Your Business Name.
Step one is easy enough, run a few searches online, with your preferred search engine, of your business idea, to see if there is someone out there using it already. If you do find something similar or related to what you had in mind, it is important to take note of just how alike these findings are to your idea. Also look at whether or not they are actively using the idea and what areas of the country they are located in. If you do not find anything using broad terms or find too many results to manage, consider narrowing your search with more specific terms or with geographical terms, to give you more precise results.
Step two is a little more tedious, but it can give you some of the most important information of all. Visit the U.S. Patent Office website to search trademarks and patents, to see if anyone has any federal protections on ideas for slogans, symbols, inventions, and others.
To search through the trademark database, go to http://tmsearch.uspto.gov and run some Basic Word Mark searches. If you find something similar to your idea, follow this up with a normal online search to see if they are still an active company. You want to look and see whether or not they are actually selling or doing whatever it is they claimed is associated with the trademark. This is only the federal registry, so you will also want to take a look at your state’s registry too. Colorado’s can be found at http://www.sos.state.co.us/biz/BusinessEntityCriteriaExt.do, and this will search business names and trademarks. Remember that when it comes to trademarks, there are federal, state, and common law protections available to be considered.
To search the federal patent register, go to http://appft.uspto.gov/netahtml/PTO/ and click on Quick Search under Patents. Now try running different terms based on your business idea to see if someone has already patented what you had in mind. Remember that in order to be patentable, the idea must be an invention or improvement to an existing invention that is useful, novel, non-obvious, adequately described or enabled, and claimed by the inventor in clear and definite terms.
Copyrighted works can also be useful things to search through if your business idea involves any creative works. You can visit http://copyright.gov/eco/ and search their database. This database will only search the national registry, meaning someone must have registered their copyright for it to be here (which is not required), so it is important to note that this search is not exhaustive. However, this is still an important place to check regardless.
If you do not turn up any results that are similar using the various search engines and techniques described here, this is good news, but keep in mind that these are basic searches and it is recommended that you speak with an attorney to discuss if more thorough searching is necessary. Nevertheless, the information you obtained will still be helpful in determining what your next step should be.
On the other hand, if you did find someone is already doing what you had in mind, do not give up! Start thinking about a different approach to whatever the existing business is selling or doing, so you can continue refining your entrepreneurial ideas. Keep in mind that you can always consider sitting down with an attorney to explore the level of differences necessary to move forward with your business and protect you against related businesses already operating.
If you have any questions about your findings or you are ready to take the next step in starting your business or protecting your business idea, contact the Law Office of E.C. Lewis PC, home of your Denver Business Lawyer, Elizabeth Lewis, 720-258-6647 or email her at Elizabeth.Lewis@eclewis.com.
by eclewis | Sep 23, 2014 | Business News
What Are Benefit Corporations—and Why Colorado Businesses Should Care
Last year, Colorado, with the passage of HB 13-1138, the “Public Benefit Corporation Act of Colorado,” joined a growing minority of states that have passed legislation enabling the incorporation of “benefit corporations.” Benefit corporations are a corporation that can be structured as a C-corporation or S-corporation but are specifically committed to benefitting the public, in addition to making profits. Directors of benefit corporations are charged with balancing the interests of shareholders with the interests associated with supporting public benefits. This legislation allows both new and existing corporations to become benefit corporations.
These public benefits can include educational, environmental, charitable, religious, cultural, scientific, and other types of publicly beneficial causes. However, benefit corporations are able to state more than one cause that they wish to support. This can allow for some flexibility within the company in the kinds of goals they will support.
Some well-known examples of benefit corporations include Patagonia, Etsy, and Warby Parker. Here in Colorado, GoLite, a Boulder-based outdoor apparel and equipment company, New Belgium, the Fort Collins-based brewery, and others have decided to become benefit corporations.
While many corporations feel that charitable giving is part of their social responsibility and choose to give to such causes without being a benefit corporation, shareholders of benefit corporations are given the unique power to take legal action against the management of the benefit corporation if they are not producing public benefits. Conversely, it is rare, if not impossible, for shareholders of regular corporations to be able to take such legal action over charitable or public benefits foregone by a regular corporation.
Some see the development of benefit corporations as an exciting new era that demonstrates a commitment to corporate social responsibility. Others view them as potentially tying the hands of corporate management, especially if the company hits hard times, since regular corporations can still choose to give charitably. As a result, it will be interesting to see how these benefit corporations change the corporate world and how it will effect how companies try to generate both profits and public benefits.
If you have questions about setting up a corporation of any kind, be sure to contact the Law Office of E.C. Lewis P.C., home of your Denver Business Lawyer, Elizabeth Lewis, 720-258-6647 or email her at Elizabeth.Lewis@eclewis.com.
by eclewis | Aug 14, 2014 | Business News
Colorado’s Startup Climate: Why New Businesses Are Booming—and How to Take Advantage
(Updated November 10, 2025)
New businesses and entrepreneurship are on the rise in the Centennial State. According to the Secretary of State’s Quarterly Business and Economic Indicators Report covering the second quarter of the year referenced, new business entity filings increased 4% compared with the same quarter in 2013. Looking at a full year of activity, the report also showed a 4.8% year-over-year increase in filings, underscoring sustained momentum rather than a one-time spike.
Positive trends went beyond new filings. The second quarter also saw higher employment levels in Colorado and nationwide and an uptick in renewal filings from existing companies. Renewal activity—a useful proxy for the health and confidence of established businesses—rose 3.9% from the first quarter. Taken together, these indicators supported the report’s prediction of continued employment and economic growth for the next two quarters, driven by new jobs at startups and expanding firms.
The outlook within the report was specific: filings were expected to increase in the third quarter, then moderate in the fourth (a typical seasonal pattern), while still finishing the year above the prior year’s fourth quarter. For prospective founders and growing companies, this kind of steady trajectory is encouraging. It suggests a supportive backdrop for launching a new venture or investing in expansion plans.
Colorado’s broader economic profile bolstered these findings. When Business Insider ranked all 50 state economies using eight indicators—unemployment, GDP, average wages, labor force size, and more—Colorado earned the #1 spot, performing within the top 15 across every metric and benefiting from a highly diversified economy. A balanced mix of industries often cushions a state from volatility, giving entrepreneurs a stronger foundation on which to build.
Lower Barriers to Entry: Filing Fee Holiday
On June 9, the Secretary of State announced a filing fee holiday for new business entity filings, reducing the fee from $50 to $1 through the summer. Triggered by budget surpluses, the initiative aimed to put a little more cash in founders’ pockets during the earliest—and often leanest—stage of formation. After summer, the office indicated the fee would be reevaluated monthly. Combined with the favorable indicators already mentioned, the reduced fee created a practical, near-term incentive to form a new entity or launch a spin-off.
Why These Trends Matter for Founders
- Validation for timing: Rising filings and renewals signal founder confidence and a supportive ecosystem—useful when deciding whether to start now or wait.
- Capital and talent: Strong statewide performance often attracts investors and skilled workers, making it easier to hire and finance early growth.
- Network effects: As more businesses form, support services (bookkeeping, marketing, legal, HR, IT) cluster and mature, lowering costs and speeding execution for everyone.
Smart Next Steps to Start (or Expand) in Colorado
If you’re ready to act while the winds are favorable, consider these foundational steps. They’ll help you move from idea to launch with fewer surprises:
- Validate your concept.
Draft a concise value proposition, identify your core customer, and test demand with small pilots or pre-orders. Early validation reduces costly pivots later.
- Choose the right entity type.
LLC, S-Corp, C-Corp, partnership, or sole proprietorship—each has implications for liability, taxation, governance, and investor expectations. Many small businesses opt for an LLC for flexibility, while venture-bound startups often choose a C-Corp. The “right” answer depends on your goals.
- Lock down governance documents.
- Operating Agreement (LLC) or Bylaws/Shareholder Agreement (Corporation)
- Buy-sell provisions for co-founders and investors
- Ownership and vesting schedules to protect the company if someone leaves
Clear rules now prevent disputes later.
- Register and get your numbers in order.
- File your entity with the Colorado Secretary of State
- Obtain an EIN from the IRS
- Open a business bank account and set up bookkeeping from day one
Clean separation of business and personal finances is crucial for liability protection and tax reporting.
- Mind licenses, permits, and taxes.
Depending on your industry and location, you may need sales tax registration, professional licenses, or municipal approvals. Verify requirements early to avoid penalties or delays.
- Protect your brand and IP.
Conduct name and trademark searches; consider federal trademark registration for your brand and agreements that clarify ownership of creative or technical work.
- Use the right contracts.
Standardized, attorney-reviewed client agreements, vendor contracts, employment or contractor agreements, and a privacy policy/terms of use (for online businesses) establish clarity and help manage risk.
- Plan your team thoughtfully.
Understand the distinctions between employees and independent contractors, wage and hour rules, and required insurance (such as workers’ compensation). Misclassification can be costly.
- Build a simple growth plan.
Draft a 90-day plan covering your offer, pricing, channels, sales cadence, and cash flow. Short planning cycles let you learn and adapt quickly.
- Stay compliant after you launch.
Mark your calendar for annual reports, renewal filings, and tax deadlines. Rising renewal rates suggest more businesses are staying current—join them and avoid reinstatement headaches.
Expansion Tips for Existing Businesses
- Consider a new entity or subsidiary for a new product line to isolate risk or welcome new investors.
- Update your governance to match growth: board structure, shareholder agreements, and key-person/owner succession planning.
- Review contracts and insurance annually; what worked at $500K in revenue may not fit at $5M.
- Leverage incentives and programs available to growing Colorado businesses (local grants, workforce training support, and small-business development resources).
The Bottom Line
With strong business formation trends, healthy renewal activity, and top-ranked statewide economic performance, Colorado presents a compelling environment for both new founders and expanding companies. Add in a temporary $1 filing fee and there’s extra motivation to formalize your venture and start building momentum.
Now is an excellent time to consider starting or scaling your business with Colorado’s positive outlook at your back—and with reduced friction at the formation stage.
If you’re ready to take the next step, reach out to the Law Office of E.C. Lewis, P.C., home of your Denver Business Lawyer, Elizabeth Lewis. Call 720-258-6647 or Contact Us to get guidance on choosing the right entity, preparing essential agreements, protecting your IP, and setting up a compliance plan that grows with you.
by eclewis | Aug 7, 2014 | Business News
Colorado Job Creation & Main Street Revitalization Tax Credits
Colorado was actually one of the first states to pioneer economic competition through the use of tax credits by being the second state to adopt a tax credit program for historic preservation back in 1991, but the law remained largely unchanged until recently.
House Bill 14-1311, the Colorado Job Creation and Main Street Revitalization Act, was signed into law on May 14th and it offers tax credits designed to help bring more economic development back to historic commercial buildings and main streets. This bill was also enacted to update Colorado’s preexisting tax credit program to be more competitive for development against other states, which already had similar programs.
These tax credits are available for qualified expenses beginning in July of 2015 and will discontinue in 2020. They are also divided into Large and Small categories, but first let us look at the requirements for either kind of project.
General Requirements
- Only properties designated as historic at the local, state, or national level are eligible
- All projects must be certified by the State Historic Preservation Office
- A minimum expenditure of 25% of the original purchase price of the property (minus the value of the land) must be made
- Projects with Qualified Rehabilitation Expenses over $250k require third party audits
- Projects located in state/federal disaster designations will get an additional 5% state tax credit if in service within 8 years following such designation.
Now let us take a look at some specifics depending on the category.
Small Historic Rehabilitation Projects
- Less than $1 million tax credit
- Projects below $500k in Qualified Rehabilitation Expenses get a 30% state tax credit on those expenses
- Projects between $500k-$1million in Qualified Rehabilitation Expenses get a 25% state tax credit on those expenses
Large Historic Rehabilitation Projects
- More than $1 million tax credit anticipated
- Projects will receive a 20% state tax credit for all Qualified Rehabilitation Expenses
With these tax credit opportunities in mind, now is a great time to plan or think about starting or expanding your business into the revitalizing historic buildings and main streets of Colorado. To get started, contact the Law Office of E.C. Lewis PC, home of your Denver Business Lawyer, Elizabeth Lewis, 720-258-6647 or email her at Elizabeth.Lewis@eclewis.com.
by eclewis | Jul 23, 2014 | Internet Law
Children’s Online Privacy Protection Act
COPPA became effective in April of 2000, and it applies to commercial websites that collects personal information from children under 13 years old, whether or not the collection is mandatory or voluntary. Personal information is defined by the act as any information that is individually identifiable, or would allow someone to identify or contact the child. If your website does this, then you must take certain measures in order to comply with this law.
Personal information includes:
- First and last name
- Address including street name
- Online contact information
- Username that functions as online contact information
- Telephone number
- Social Security Number
- Persistent identifier that can be used to recognize a user over time and different website services
- A photo, video, or audio file, containing a child’s image or voice
- Geolocation information sufficient to identify street and city name
- Other information about the child or parent collected from the child when combined with one of the above identifiers
If you collect personal information such as those described above, you must follow these steps to comply with COPPA:
1. You must post a clearly written and understandable online privacy policy that is comprehensive and describes your practices for collecting personal information from children. There are certain elements that need to be included.
a. You must name the individuals collecting or maintaining personal information, as well as provide their contact information.
b. You must describe the personal information that is collected, how it is collected, how it is used, and whether you disclose the information to third parties, as well as the categories of businesses of the third parties and how they use the information if you do disclose to third parties.
c. You must describe the parents’ rights with regard to the personal information. You must tell parents that you will not require a child to disclose more information than is reasonably necessary to participate in an activity, that they can review their child’s personal information, request its deletion, refuse to allow any further collection or use of the child’s information, agree to the collection and use of the child’s information with the option to disallow any further collection or use of the child’s information, and lastly, the procedures to exercise these rights.
2. You must also give direct notice to parents and obtain verifiable parental consent prior to collecting personal information online from children, with some limited exceptions. Parents must also be given the option to consent to the collection of a child’s information by the website but disallow the disclosure of such information to third parties, unless this information is considered integral to the website, which must be made clear to the parents.
3. You must also maintain the confidentiality, security, and integrity of information collected by taking reasonable steps to release such information only to parties capable of maintaining its confidentiality and security.
4. You can only collect and keep such information for as long as is necessary to fulfill the purpose it was collected for, and you must take reasonable measures to protect and securely delete the information afterward.
If you have any questions about whether or not your website falls under COPPA or how to comply with COPPA, do not hesitate to reach out to the Law Office of E.C. Lewis, PC, the home of your Denver Business Lawyer, Elizabeth Lewis at 720-258-6647 or email her at Elizabeth.Lewis@eclewis.com.
