August 2017

The Top Facts You should Know before Applying for a Patent in the UK

You may have a great idea for a system, a great design for a new consumer product, or something similar that could be of great use to you, society, and the commercial market. However, no matter how wonderful your design or idea may be, it has no commercial value if you have no patent on it – if you do not have it registered as intellectual property.

Legally speaking, the idea or design belongs to you from the moment of conception, but in the real world it’s unwise to rely on that – you need proof. Practically speaking, you need that written confirmation that casts all shadows of doubt away; that proves the invention is yours, that you own it. Here are the top facts you should know before applying for a patent in the UK.

Is it valuable?

In 2005, experts in patenting conducted a study to see which patents were applied for, and what their real value truly was. The study found something extraordinary: more than half the value of all patents were found in less than 1% of all patents – meaning that, whilst there were a lot of patents filed (and granted), only a very small portion of it actually had financial benefit. Applying for a patent – and going through the approval process – requires money and time, so make sure your patent will have economic benefits in the long run. Have a business plan ready.

Is it new?

There are plenty of resources available such as patent software from Sach-associates.com to search the databases of the patent office – make use of it and see if there isn’t something similar out there that exists. It may be new to you, but it’s very common to find it already exists (and therefore have your patent application denied).

Consult a professional

Though it is not mandatory, your chances of getting a patent approved are much better when you hire a solicitor whose expertise is intellectual property, and who is familiar with the requirements of the Intellectual Property Office (IPO). Although they do charge for their services, there are regular IP clinics around the UK where you can receive free basic advice from professionals.

Whilst waiting

Assuming your patent application is approved, it will be published 18 months after you have filed all the formal requirements – and that’s a long time to wait. Bear in mind: publishing does not mean getting your patent approved. The approval could actually take a couple of years. What do you do in the meantime? Often, confidentiality agreements are a good way to go for business negotiations. If appearances for the product are important, a registered trademark may do the trick.

 

Image courtesy of Pixabay.com

 

 

 

Becoming a Profitable Day Trader

There are plenty of ways to become a profitable day trader. But why would you want to do it? What do you get out of being a financially independent person, with no boss to answer to and no cube to chain yourself to. You get freedom. You get a career with plenty of money to pay the bills and plenty of time to enjoy yourself.

The key is you have to spend the time becoming a smart day trader. You need to spend time in day trading classes, learning the lingo, the techniques and the potential pitfalls. Then spend time in a free chat room that allows you to interact with other day traders that have been through the ringer and have excellent advice to offer.

Here are the 5 steps to becoming a profitable day trader.

Learn The Best Strategies

Day traders need to understand many differnet ways to make money on any given day in the market. There may be some days where there are gappers ready for a momentum day trading strategy that will capitalize on spiking stocks. But other days, you might want to employ a reversal trading strategy that capitalizes on a tough market.

Learning these strategies in a good day trading education site is a great way to be profitable. You need to put the time in.

Spend Time In a Day Trading Chat Room

There could be a free chat room out there that has decent information and traders with some experience. But Warrior Trading offers a chance to pay just $5 for five whole days of a chat room experience that will bring your day trading education to another level. Being around other traders and watching them call out positions and trades in the chat room is a great way to get acclimated to the industry.

Take a Month In a Paper Trading Room

Paper trading is one way of saying simulated trading. What you want is a simulated trading environment that mimics the regular stock market and allows you to make trades at the speed of the real stock market. All with virtual currency. That is the best way to practice your day trading strategies and learn how to make trades and make mistakes without losing real money.

Take Risk Management Seriously

As a day trader, you always need to be thinking aobut risk. You need to know exactly how much you expect to make from a trade and how much you do not want to lose. Then you need to have the proper stop loss in place for each trade. That way you can cap your losses automatically. Once you make your desired profit level, get out of the trade. Don’t sit there and wait for an endless growth spike. You will be disappointed.

Keep Good Records

Quality record keeping is at the heart of profitable day trading. Day trading is all about building up lots of small wins and making sure your losses are even smaller. You are going to lose on a trade. It is inevitable. But, at the end of the week, your profits are higher than your losses, the better off you will be.

For more information on chat rooms and day trading education, check out Warrior Trading.

 

Is It Time to Add More Manpower?

What is the exact number of employees that you think your business needs to operate?

While that can be a tough question to answer, it is one that is nonetheless important to your prosperity.

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Are you thinking about adding manpower the rest of this year or once the New Year rolls around? If so, how many people? Also, where would you add these positions? Last, do you have the budget with which to pay for such new hires?

There are some questions that one must answer in deciding the right time and place to bring on new workers.

So, are you ready to make such important calls?

Finding the Right Talent for the Right Price

In considering whether to add manpower to your operation, remember a few key pointers:

  1. Timing

Knowing the right timing to add talent is of course something that is hard to do.

Short of a crystal ball, one does not know how local and national economies will play out over time. As such, it can be difficult to say that hiring folks sooner is better than later.

One of the factors to keep in mind is national employment data.

By having a better idea of the market coast-to-coast, you see how your industry is fairing.

Also note that many job seekers stay up to speed on national employment trends too. By doing this, they are more inclined to know where to go for the jobs that they want. Whether that is on a local or national scale, many do whatever it takes to interview for the right company.

Although your timing of when to add workers may not always be precise, don’t approach this with blinders on.

  1. Salaries and Benefits

Before you place a single help wanted ad, you need to know your spending limits.

If your sales numbers have been so-so through the first half of the year, bringing on more talent now may not be best. On the flip side, some may say that adding more manpower is necessary to boost those revenue dollars.

Taking a look at how companies pay workers for comparable positions is important.

Make sure that your current team is being paid relative to what others make at your competitors. Remember, you can’t expect good talent to stay with you if they’re falling behind.

In the event you want to add manpower and yet have to do it at lower salaries than you’d like, make up for that shortfall.

Among some of the ways to do that:

  • Solid health benefits package
  • Access to a free fitness center
  • Access to free daycare for employees with children
  • Allowing employees to work from home on occasion
  • Company events like a free lunch or Happy Hour etc. at times
  • Listen to employee feedback to learn how to improve your business operation

By doing your best to create a positive environment, you tend to attract better talent.

If thinking about bringing on staff, put some thought into it before the first help wanted ad goes out.

 

 

The most Common Lawsuits Regarding Human Resources

If you are starting a new business, or have been running one for years, you will have to ensure that your human resources program is at a level that protects you as the owner from the variety of possible discrimination-based charges which could befall you as a result of an inadequate setup.

Each year in the United States, tens of thousands of human resources related cases are put forwards. If you happen to ever encounter a severe case of discrimination enacted by your colleagues, you may have to consult with a leading criminal attorney in order to best navigate such a sensitive situation.

Let us now look at some of the most common lawsuits that employees will bring against their employers in the United States.

In the Event of Personal Injury

No matter how safe you may try and make your workplace, injuries sustained in the working environment are only too common. While you may have a dedicated and comprehensive worker’s compensation scheme put in place, it is of the utmost importance that you ensure that you go beyond ordinary efforts to ensure that your working environment is steeped in a culture of safety and precautions.

Such steps towards fostering safety can greatly aid towards avoiding sometimes crippling personal injury cases, in which the employer will now have to compensate a worker for their medical bills and loss of income, not counting the further monetary loss which could result from suing, which can often be monumental.

Making up for Overtime

The Fair Labor Standard Act or FLSA upholds that an employee working on an hourly wage need to be compensated for working overtime in particular occasions. This means that you, as an employer, have a duty to ensure that the hours worked overtime are monitored and that the appropriate payments are made.

The Ugly World of Discrimination

Whether we want to admit it or not, discrimination is indeed a prevalent issue in the American workplace, and cases of employer discrimination are a frequently seen event in the working world. Those belonging to a protected class are at liberty to speak up if they believe that they are being treated unethically.

Such protected classes will fall under certain disability, religion, race, age, family status, sexual orientation, gender, and veteran status categories. Individuals belonging to a protected class will often bring a case forward if they have experienced an unfair dismissal or demotion despite their continual accordance to company standards and regulations.

If you, as an employer, find yourself accused of discriminatory practice, then you will have to build a case proving that you acted in accordance with protected classes regulations alongside the relevant legal team.

Dealing with Harassment

The ugliest forms of human abuse can often take place between work colleagues. Instances of harassment include the passing of inappropriately sexual comments and inter-colleague bullying. Harassment legal cases will often manifest following an ignored complaint by a victim.

The best way to ensure that such unsavoury interaction never occurs is through the strict regulation of policies that educate and monitor employee interaction.

 

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