Critical Questions to Address Before Deciding on a Business Opportunity in Puerto Rico
Purchasing a business opportunity or an established operation in Puerto Rico means you are acquiring a going concern or one to be. A business opportunity may mean purchasing a franchise, a licensed idea or a business conceot. You can also purchase an ongoing operation. An ongoing business is a viable alternative to a business opportunity […]
Trade Name and Trademark in Puerto Rico: Two Closely Related Cousins
People often confuse a trade name with a trademark but while they are related, both mean different things. Here are the key differences. Trade name To legally start a corporation or a company you must file paperwork with the state and include your organization’s name. This name becomes your business’s official identification followed by the […]
Franchise in Puerto Rico- Should You Buy an Existing Business or Build Your Own?
A Franchise is a business model that has allowed many people to stop being employees as it facilitates the transition from employee to self-employment. However, franchising Puerto Rico is not for everyone or all types of businesses. As a franchise development consultant and franchising lawyer helping organizations develop franchises or individuals purchasing one, I would […]
Differences in Protection for Distributors and Sales Representatives Under Puerto Rico laws 75 and 21
Distributors, dealers, franchise units and sales representatives in Puerto Rico may be protected against unjust termination, impairment, and interference with their commercial relationships depending on the nature of the business arrangement involved. Puerto Rico’s Dealers Act, Laws 75 and 21 provide different protections, requirements, and remedies depending on whether the relationship involves a dealer, distributor, or […]
Non-Compete Agreements in Puerto Rico
In Puerto Rico, non-compete agreements restrict employees from working for competitors for a period of time after leaving a company. The enforceability of these agreements varies among U.S. jurisdictions and has recently come under increased scrutiny at the federal level. In January 2023, the Federal Trade Commission (FTC) proposed a rule that would effectively prohibit […]