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Price-predictable subscription to legal help for startups

(BUSINESS) Startups in growth mode need extra help, and legal services is not where successful companies cut corners. Check out this subscription option for your growing company.

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If you’re running your own business or are planning to start one, legal help is probably low on your list.

Most of us have access to free resources from your local Chamber of Commerce or state website, or may have a “friend” who can help you with the forms and other things.

For a lot of things, a DIY attitude won’t cost you much. You could float your own drywall for example. But when it comes to the law, you must trust an expert. Trying to cut corners on legal expenses can cost you a lot in terms of liability or lead to a few headaches, disputes, and litigations. And even if it didn’t cost money, it will cost you time.

Fortunately, you may not have to pay a lawyer directly, as there are several online solutions, including LegalZoom or LegalShield that can help you with forms, provide advice or help you get your business started. Legal advice could cost you hundreds per hour, but it doesn’t have to be that way.

Although online legal services are available, one thing that may be challenging for startups is that it can be difficult to budget for: cost transparency isn’t always available and it may be contingent on demand, time and resources.

Atrium is legal firm specifically designed for startups. This firm was founded by Twitch founder Justin Kan, and Silicon Valley lawyer, Augie Rakow in response to what his needs were as a startup: fast, reliable, and transparent services.

To date, Atrium boasts 890 completed startup deals; $5B raised by companies, and 10 companies started by it’s members. Atrium breaks down its services into four areas:

Atrium Counsel – which provides standard day to day legal processes, including board meetings, NDS, contract/personnel review, etc. – this is available as a subscription service or if you have unique needs, there are special projects available.
Atrium Financing – to help work with venture capital transactions and help explain the deal and it’s process, including upfront price estimates for advice with pitches.
Atrium Contracts – to help with contract review and form generations.
Atrium Blockchain – to help provide legal advice on the many regulatory issues involving blockchain issues.

Atrium’s major competitive advantage is the end of the billable hour paradigm and the focus on subscription models. This is great for a startup in growth mode because you can get a lot of value for a fixed price.

That said, Vitality CEO, Jamie Davidson said, “Just had a call with these folks. You pay a minimum of $1K a month (based on your company size) to be able to ask them questions. You then pay above-market prices for actual legal needs, like privacy policy/TOS generation ($5K), GDPR ($10+K), etc. Our current lawyer does not charge me to ask him questions, but he does charge for actual legal work.”

Others have noted Atrium’s technological advantage and expertise, so mileage could vary.

If you find that community resources aren’t available or not meeting your needs, Atrium could be the service that helps take you to the next level. If you’re considering shopping for legal services, check out Atrium’s site, get to know their team, and see if it’s the right fit for you. The bottom line is that there are a lot of places to cut corners for your growing business, but legal services are not one of them.

Kam has a Master's degree in Industrial/Organizational Psychology, and is an HR professional. Obsessed with food, but writing about virtually anything, he has a passion for LGBT issues, business, technology, and cats.

Business News

Why email remains the top communication tool for businesses

(BUSINESS NEWS) Communication has changed tremendously over the years, but email appears to remain home base. Here’s why.

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Smartphones are so popular, you might assume that phone calls, text messages, video chat, Slack, Trello, or just social media would have surpassed email as the most popular form of communication. Surprisingly, they have only enabled its growth.

Email is, hands down, the most prominent form of communication and collaboration among businesses, and that’s not expected to change any time soon. “Over the course of the last year, there has been considerable discussion about the role of email in workplaces that depend heavily on social network and other collaboration tools,” says David Roe of CMS Wire.

“In these discussions, there appears to be a general consensus that while social networks are useful to achieve work-related goals, email remains the undisputed communications tool in the enterprise.” The statistics back up these claims.

Worldwide, there are more than 2.5 billion email users, and that number is expected to climb to 2.9 billion by the end of next year. That represents more than a third of the global population operating one or more active email accounts.

Right now, only about 25 percent of current email accounts are business accounts, but we can expect a rapid increase in those as well. The average office worker will send and receive as many as 121 email messages per day.

David Roe also addressed a SendGrind study called The Future of Digital Communication, which evaluated trends in digital communication among the various generations. The findings showed that 74 percent of people chose email as their preferred method of communication and 89 percent email at least once every month for business or personal reasons.

Email is a huge part of our collaborative and communicative society, so understanding its role in business and society can play a huge role in mastering trends to the best advantage in your enterprise.

Roe further explains that, although the status of email has not changed within the walls of business enterprises, it has evolved. “The kinds of people using it are changing so it is only logical that the way it is being used is going to change too,” he says.

A younger generation that’s more in tune with digital trends and technology will soon be dominating the workforce, and email is adapting. SendGrind CMO Scott Heimes said in The Future of Digital Communication report that new technology will render email a new, more useful entity.

“With chatbots making their way into email and messaging apps in 2017, 2018 will be the year in which chatbots effectively provide personalized experiences to customers, if done correctly,” Heimes said. “Marketers will leverage data from email marketing, display retargeting, social media ads and chatbots to create a cohesive and unified experience for customers.”

This is just a glimpse of what’s to come for email users, and businesses may capitalize on its new roles for more effective collaboration.

Given the steadily evolving landscape that is email, here are the chief reasons we can expect it to stick around as a viable business tool:

Convenience: Can you imagine being on the phone or texting/social messaging for the equivalent of 121 email messages per day? You can often accomplish more in a 10-minute phone call than you can in 10 emails, but sending and receiving messages when it’s the most convenient option can be a huge draw for busy employees.

Security: Phone calls can be overheard, texts intercepted, and social media messaging accounts hacked. Email can also be hacked, but thanks to encryption services that plug right into Microsoft, Gmail, or other enterprise email services, that data can be protected.

Work-From-Home Collaboration: According to the Bureau of Labor Statistics, 24 percent of employees performed all or some of their work from home in 2016, and that number’s expected to grow substantially over the coming decade. Although collaboration programs are popular, working from home simply wouldn’t be possible for this many people without email.

Ease of Talking to People: Some people freeze up when they speak on the phone. Others just don’t like it. Millennials and Gen Z employees are entering the workforce in full swing now, and their use of digital technology makes email a go-to solution. Workers who hate phone conversations can communicate easily with their devices and avoid too much interpersonal interaction.

Information Transfer: There’s rarely a better method of transferring information than via email. Not only can you transfer files and documents to the recipient(s), but you can also store the information for future reference.

Instant Notifications: Email speeds are faster than ever. Posts arrive in your inbox nearly instantaneously. Real-time communication is practicable in a convenient, simple method.

Ease of Access: Thanks to smartphones, you can get access to your email pretty much anywhere. There’s also no need for a WiFi connection since data plans are robust and cell phone coverage broader than ever.

Email is not a perfect system. Like every other form of communication it has its downsides, but it’s proven to be the most useful form of communication to date. Although new forms of collaboration surface regularly, email probably isn’t going anywhere.

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Business News

Real estate commissions are negotiable, no matter what any lawsuit says

(FINANCE) An anti-trust lawsuit against major players in the residential real estate industry sheds light on misinformation and misunderstandings about commissions – when you’re buying or selling a home, you’re in the driver’s seat. Negotiate!

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Minnesota home seller, Christopher Moehrl, has filed an class action anti-trust lawsuit [in April], alleging a “conspiracy” to price fix broker compensation in the 2.5-3% range, naming the National Association of Realtors (NAR), Realogy, HomeServices of America, RE/MAX, and Keller Williams (with more to be named, inevitably).

The complaint intimates that by requiring brokers to offer buyer broker compensation when listing a property on the MLS, fees are “fixed” and inflated, violating anti-trust laws. In short, they believe buyer’s agents shouldn’t be paid because buyers can find their home online now.

The class action suit claims that because the seller has to pay the buyer’s agent, commissions are inflated. The truth is that although it is NAR’s rule to require compensation, it could be as little as one cent, and Associations support all compensation models (flat-fee, discount, rebates, traditional 3% per side, and even higher on luxury listings).

Let’s take a look at some of the court documents directly:

8. Defendants’ conspiracy has kept buyer broker commissions in the 2.5 to 3.0 percent range for many years despite the diminishing role of buyer brokers.

This point continues to outline how buyers agents are essentially useless in an era where homebuyers have direct access to listings and can find their own home online. That claim is similar to claims made by anti-Realtor bloggers in the early 2000s, and is wildly uninformed. All agents, no matter which side they represent have a fiduciary duty to their client, negotiate on their behalf, and walk them through (and oversee) a complex financial process.

Beyond that, buyer’s agents are often the person that has to inform a buyer that their dream home they found on Zillow (or other sites that use non-MLS data) actually sold several days ago, or was not real to begin with.

They’re the individuals that have to not only be educated on real estate law and contracts, lending options and processes, but be experts in a certain geographical area and be informed of architectural styles, smart home features, green home features, and so on.

The indication that a buyers agent’s sole value is to pair a homebuyer with a home is ludicrous and objectively false.

17. In that sales transaction, Mr. Moehrl was represented by a RE/MAX franchisee, and the buyer was represented by a Keller Williams franchisee. As part of the sales transaction, Mr. Moehrl paid a total broker commission of six percent, and 2.7 percentage points of the six percentage points were paid to the buyer broker.

It is important to note that it is not illegal to buy or sell a home without representation. It happens every day across this nation. If there was a legal requirement to hire a real estate professional, this lawsuit might have merit. But there is not.

Further, the fact that the buyer broker was only given 2.7 percent indicates that Moehrl negotiated against the supposed 3.0 percent standard the lawsuit is so aggressively fighting against.

Obviously this home seller knew he could negotiate commissions.

Not only did the Plaintiff not have to hire a Realtor, he didn’t have to allow any negotiation of the compensation, given that the buyer side earned 2.7 percent, and his own Realtor earned 3.3 percent.

38. As required by the Buyer Broker Commission Rule, the seller broker makes a blanket, non-negotiable offer of a three percent commission to the buyer’s broker when it lists the home on the local MLS.

The Plaintiff’s attorneys have clearly not done any homework. Compensation is required, that is factual, but there are no bylaws that dictate the amount. It can be as little as one cent. Or as high as 100%, it is all negotiable. All of it.

63. For years, buyer broker commissions have remained steady at two-and-a-half to three percent in the areas in which the Covered MLSs operate despite both an increase in home prices (increasing the dollar amount of the commission) and the diminishing role of buyer brokers described above.

NAR does not track or store broker commission data, and while brokerages individually do, they don’t uniformly or openly share that information with any competing brokers. There is no conspiracy regarding commissions.

The responsibilities of a buyer broker have actually increased over time, not diminished. Ask a broker in 1980 if they had to be well versed in modern marketing, social media strategies, analytics, paperless contract technologies, know the privacy laws regarding the collection and dissemination of information online, and so forth.

To repeatedly argue that anything other than market conditions have determined commission levels is dead wrong. In fact, some would argue that commissions on both sides of the transaction should be higher (and therefore, some brokerages offer services at higher commission levels than 3%).

The takeaway is that all commissions in real estate are negotiable, it’s not a legal requirement to hire a real estate professional when buying or selling a home, and that buyer agent responsibilities and values have actually increased over time.

Anyone in America who doesn’t like a Realtor’s services offered at a specific commission level can negotiate or hire a different Realtor – there is no conspiracy here. This lawsuit has a variety of factually inaccurate statements regarding commissions, and is laughable.

This story was first published in April of 2019.

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Business News

Which generation is the most unhappy at work?

(BUSINESS) Employee engagement leads to employee productivity, and one generation appears to be more unhappy than any other…

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New research shows that technology drives how and where people work. Technology has redefined work over the past two decades.

Employers have focused on retiring Baby Boomers, while creating a workplace that attracts Millennials. The study found that Generation X employees, who account for about one-third of the workforce, have been neglected.

Key study findings:

  • Employees name personal finances as the main source of stress across all demographics. But Millennials and Baby Boomers are more confident in their finances than Gen X.
  • Nearly half of Gen X workers report living paycheck to paycheck.
  • 68 percent of Gen X workers are happy at work, compared to 75 percent of Millennials and 74 percent of Baby Boomers.
  • Only 54 percent of Gen X workers feel empowered at work.
  • Less than two-thirds of Gen X workers feel respected in the workplace.
  • Gen X workers are the most likely generation not to retire. More Gen X workers (18 percent) say that they won’t retire, versus 12 percent of Boomers and 14 percent of Millennials.
  • Only 18 percent of employers believe that creating an inclusive environment for all employees is one of their challenges.

Why should employers care that Gen X feels unappreciated?

Gen Xers are going to be in the workplace for the next 20 to 30 years. As Boomers retire, it’s up to Gen X to fill the leadership roles because of experience, education, and longevity in the workplace.

According to the Global Leadership Forecast 2018, Gen X already has over half of leadership roles, making their salaries some of the highest in the nation.

Employee satisfaction is key to employee retention and productivity.

Gen Xers have leadership skills, but there’s a disconnect between what employees want and the priorities of employers.

Employees who don’t feel valued and appreciated will not be as engaged with work as those who do. Turnover costs for upper management are much greater than entry-level employees. For those reasons, it pays to foster engagement with all generations of workers.

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