Any owner or general contractor who has a few projects under his or her belt has likely had this thought: “My contractor (or subcontractor) is not performing the way I expected; should I replace him?” The other side of the termination coin is: “This project is not going the way I expected; should I get out?”
While there may be an emotional high that immediately comes from terminating a contractor or subcontractor (or leaving a project, in mid-stream), there are many factors to be weighed, before making that decision.
One of the most overlooked methods of asset protection for small businesses is found in the registration of trademarks and service marks with the United States Patent and Trademark Office (“USPTO”). Many business owners might presume that their legal rights are fully protected by the mere use of their business name for years. After all, if you’ve been using the name for decades without issue, no one can suddenly come along and force you to stop using the name, right? Well…not necessarily.