2 posts

 Power of AttorneyConsidering your plans for a power of attorney is important regardless of your age, but it becomes increasingly relevant as you age. There are many reasons to ensure your power of tampa estate planning attorney is appropriately organized and implemented before you experience an unexpected accident or emergency.

Power of Attorney: A Definition

A power of attorney is a formal and legally recognized arrangement that provides a specific person with the power to handle your affairs when you no longer can. Any person over the age of 18 can make arrangements for a power of attorney. It is most commonly used to ensure that a person’s affairs can be properly handled if that person becomes incapacitated, but the power of attorney is also utilized by military personnel before they deploy overseas.

Reason #1: Your Will is Not a Power of Attorney

Your will is an essential component of your estate plan, but it cannot substitute as a power of attorney arrangement. A will is meant to strategically and purposefully distribute your property after your death, whereas a power of attorney is responsible for continuing your financial and health-related decisions when you no longer can. You need to create a separate power of attorney Tampa document; don’t expect your will to cover all your legal needs.

Reason #2: Lacking a Power of Attorney Leads to Major Complications

If you fail to elect a power of attorney before an unexpected accident leaves you incapacitated, your family members cannot simply obtain a power of attorney to handle your affairs for you. Instead, the court will appoint a guardian or conservator, and there is no way to predict who that person will be or trust that he will honor his responsibilities.

Reason #3: A Power of Attorney Provides Reassurance

Many people mistakenly view a power of attorney or probate lawyer tampa as a frightening concept that implies death is near. This isn’t true at all! Having a power of attorney is simply a contingency plan. It provides you with the reassurance of knowing that a reliable and capable person will handle your affairs in the unfortunate event that you no longer can. Preparing your power of attorney also prevents your family from enduring costly and time-consuming delays.

With the right attorney, determining your power of attorney can be a simple yet powerful process. Don’t put it off any longer than you already have.

If you have a special, secretive practice or strategy that helps your business remain competitive in the marketplace, then you likely have a trade secret. The Uniform Trade Secrets Act (UTSA) formally defines a trade secret as any type of information, such as a pattern, formula, or technique, that creates some type of economic value by remaining secret from competitors. Of course, a company must make active efforts to keep a trade secret from being spread to others, or else it cannot be considered a true secret. Every business with a trade secret must not only take extreme care to legitimately protect that trade secret, but also needs to be aware of the steps to take in the case of trade secret misappropriation.

Ensure Your Trade Secret Is Official

To begin, seek the advice of your business attorney in Tampa to double check that your actions are deliberately upholding your trade secret status based upon the UTSA definition. Your trade secret information can’t be easily obtained by your competition, and it must give you a competitive advantage when it remains a secret. It’s also important that you can outline the efforts you take to keep your trade secret from becoming public knowledge. This might include keeping original documents in a locked security box or only letting two executives in on the secret at once, like Coca Cola does.

Be Prepared For Misappropriation

Unfortunately, trade secrets do not always remain secret. When a person or party reveals a company’s trade secret, trade secret misappropriation has occurred. IP litigation attorneys can assist with concerns or problems when this occurs. It is common for other companies to use industrial espionage or other unlawful tactics to uncover trade secrets, but theft, bribery, and breach of confidential agreements are also known to occur. If your business has been a victim of misappropriation, it is critical that you seek legal support immediately in order to prepare your case, to prove that you took all necessary precautions to keep your trade secret out of the wrong hands.