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Important elements of compliance programs

New Jersey business owners and executives know they must operate their companies ethically and legally. The need for this is fueled in part by the need and desire to avoid costly fines that can be associated with compliance violations. However, a strong corporate compliance program can do more than just help a company stay out of trouble. When properly developed and managed, a compliance program can fuel a business' success.

In today's society, a company's brand reputation and image can be one of its most valuable assets. As explained by Forbes, many compliance violations can wreck havoc with a company's reputation in the public eye. Once this damage has been done, it can take a long time and a lot of money to rebound from that experience. In the meantime, competitors may gain an advantage that only adds to the challenge for the company trying to come back from such an experience.

IR content on corporate website

The websites of New Jersey companies that are publicly traded must feature special areas devoted to investor relations. This is a mandate of the U.S. Securities and Exchange Commission. Some of the information that appears on a typical investor relations website might be required but other information may be optional. Understanding the requirements and the pros and cons of including other discretionary information is important.

Equisolve, a company that produces IR websites, points out that the two leading stock exchanges, Nasdaq and the New York Stock Exchange, have slightly different requirements for some information on investor relations websites. For example, a company trading on Nasdaq must publish quarterly and annual earnings results. A company trading on the NYSE is only required to publish annual earnings results.

Selecting a good business partner

Many residents in New Jersey develop innovative ideas for new businesses but realize they may be best served by having a partner to get their new company off the ground and on the road to success. Finding a good business partner is an art unto itself and can be as much about finding the right partner for a given business and person as anything. What makes someone a good business partner for one entrepreneur can differ for another.

Forbes recommends that trust and respect should be at the heart of every solid business partnership. Going into business together is akin to getting married when considering the legal and financial connections people will share. Part of trusting and respecting each other includes having compatible styles for conflict resolution. No matter what, business partners will not always agree so it is essential they know how to work through those situations positively together.

Event promoter and facility operator in lawsuit

Companies in New Jersey that have enjoyed long-standing relationships with other businesses should never take these connections for granted. While it would be nice to count on continued good relationships, sometimes disputes will still arise and they can even put former collaborators at odds with each other in court. Such is the case for one event promoter and a facility operator, both involved in motor bike racing.

As reported by The Daily Journal, the plaintiff in the case is a company called Team Pro-Motion. They are in the business of organizing and hosting bike racing events. The defendant is New Jersey Motorsports Park, a facility that for several years had hosted events held by Team Pro-Motion. At the heart of the matter is the cancellation of Team Pro-Motion's contract with New Jersey Motorsports Park.

What to know about protecting your IP

New Jersey business owners or entrepreneurs who have intellectual property (IP) to protect know that actually protecting your IP is a crucial yet difficult job. If a person's IP is abused, their business on a whole can suffer, and their entire brand image can be damaged.

There are many ways a business can protect their IP. FindLaw lists just a few of them, delving into things like copyrights, patents, IP contracts, or trademarking. All of these tools are available to help a business defend their intellectual property from theft, abuse, and misuse. Even the mention of these things may cause some people to think twice before stealing IP. It also allows a business to take action against IP infringement on the internet. For example, copyright holders can get YouTube videos that infringe on their copyright removed from the channel.

Trademark dispute over food-centered event

Many people in New Jersey may be well aware that companies work hard to protect their trademarks as these intellectual property holdings can be important assets to a business or an organization. What may not be as well known is the vast range of things for which trademarks are held and therefore guarded. A case that was recently settled between two nonprofit event organizers in two different states shows a bit about this.

As reported in the New Jersey Herald, the dispute focused on a trademark said to be held by each of the event organizers. The event is centered around a potato dumpling known as a pierogi which has its roots in Polish culture. In the town of Whiting, Indiana, a festival has been held every year since 1995 celebrating pierogis and using the name Pierogi Fest. According to the man who chairs this festival, the use of the trademark has been granted to other organizers over the years after they sought permission.

Is your business adopting harassment training for the #MeToo era?

The #MeToo movement should not be ignored in the business world. The campaign has organizations rethinking how they handle sexual harassment prevention in the workplace. A culture shift is happening, and women are speaking out against behavior they may have brushed aside in the past. Is your company prepared for this new office environment?

 

Paid sick leave act to take effect this fall

Businesses in New Jersey know that there are many laws, some federal and some state, that they must comply with. Some of these laws pertain to employee rights and fair treatment and can become part of how a company takes care of its people and creates a strong company culture. In recent years, the subject of paid leave from work has become a hot topic across the country. Until just recently, only the District of Columbia and nine states have passed legislation requiring employers to provide some form of paid leave to their workers.

Now, however, there are 10 states in addition to the District of Columbia that have laws in place regarding paid leave from work. As reported by NJBiz.com, the Governor of New Jersey recently signed into law the New Jersey Earned Sick and Safe Days Act which will go into effect this autumn on October 30.

Sweeping Consumer Privacy Law Passes California Legislature

Amidst recent scandals and breaches in large tech giants, the California legislature has passed the nation's strictest data privacy law which will allow consumers to have control over their personal data The California Consumer Privacy Act of 2018 (CCPA), which passed on June 28, 2018, will go into effect on January 1, 2020. The Act is similar to, but not as restrictive as the European Union's General Data Protection Regulation (GDPR), and provides consumers a variety of rights with regard to how covered businesses use their personal data. These new rights include:

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