Saraiya Pllc

Cultivating Ideas. Fostering Growth.

Bimal Saraiya

The Ruby Chocolate Trade Secret

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Mmmm… chocolate!

Courtesy Barry Callebaut Group

There’s now another type of chocolate! A Swiss chocolate maker has produced a new type of chocolate from the Ruby cocoa bean. The new ruby chocolate, developed by Barry Callebaut (whose chocolate is excellent for making desserts), joins dark, milk, and white as chocolate varieties.

Callebaut has not disclosed how it is produced. It is, therefore, a trade secret.

Intellectual Property Law

Intellectual Property Law is not just patents. It encompasses 4 distinct areas: a) Patents, b) Trademarks, c) Copyrights, and d) Trade Secrets. Trade secrets can be an important tool in maintaining the value of your business.

Trade Secrets

There are some famous trade secrets out there. Probably the most famous is the recipe for Coke. Another trade secret you’ve probably consumed is the Colonel’s Secret Recipe at KFC. Yet another is the recipe for Mrs. Field’s Cookies (despite the email you may have received to the contrary.)

But not all trade secrets involve food. The formula for WD-40 is a trade secret. While you can eat the end product, the mechanism of making Krispy Kreme’s warm donuts that jump into my mouth is a trade secret. And arguably the most valuable trade secret today is Google’s Search Algorithm.

Trade Secret Law

Trade Secret Law is governed by state law. There are specific things you need to do to maintain the ability to enforce your trade secret rights against others. Contact us to learn all about trade secrets and how they can be an invaluable part of your business model.

For more detailed history and stories behind some of the most iconic U.S. chocolate makers (including Hershey’s milk chocolate trade secret), I highly recommend the book “The Emperors of Chocolate” by Joël Glenn Brenner.

College Football

It’s Friday, which means we have a great weekend of College Football ahead of us. This weekend Purdue takes on my dad’s alma mater, University of Missouri. Boiler Up!

 

Do what you love

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Is it time to start your own business?

I read with interest a thought-provoking piece about Elon Musk, written by someone who knows him well. He asserts that neither money nor intelligence are necessary to be successful. At first glance, this seems obvious. After all, there are thousands and thousands of people successful in the arts, in the community, in politics, in their families, and generally in their lives without being in Mensa or being a multi-millionaire. But for success in business, this might be a heretical proposition.

The common consensus is that being highly intelligent and going to, or dropping out from, a top school is necessary to be successful in business. Most entrepreneurs trumpet their academic achievements and showcase past accomplishments that show their intelligence. I’m certainly guilty of that. I am proud of my schooling, my credentials, and my accomplishments. But would I be the same person regardless? Would I have the same drive and the same passions? Mr. Cantrell, it seems, would argue yes.

Love what you do and do what you love – Ray Bradbury

Ray Bradbury may not have been a scion of business, but there’s no doubt he was a success. As Mr. Cantrell explains, a necessary foundation for success is doing something you are passionate about and you are good at. Ray Bradbury certainly epitomized these traits. More than anyone else, he popularized modern science fiction.

Don’t aim for success if you want it; just do what you love and believe in, and it will come naturally – Sir David Frost

If you already have a passion for something, why not turn it into a business? After all, most people didn’t think Elon Musk would succeed with SpaceX. Yet, he was passionate about it, he stuck with it, and he proved everyone wrong. Don’t think that you can’t approach something with the same level of determination he did. Everyone who thinks about running their own business has the three essential skills Mr. Cantrell speaks of: 1) intelligence, 2) skill, and 3) value creation.

Great things in business are never done by one person. They’re done by a team of people. – Steve Jobs

Here at OfficeFlex and Saraiya Pllc we are passionate about what we do. We help business founders follow their dreams and make their business a success. With the right team behind you, inherent skills and dedication can push you along the path of success.

If you have been considering starting a business but have been putting it off, I leave you with a quote from Jeff Bezos, founder of Amazon.com: “The common question that gets asked in business is, ‘why?’ That’s a good question, but an equally valid question is, ‘why not?'”

Contact Us to learn more about turning your passion into your business.

The Attorney Process

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Lawyering is not one size fits all

Two weeks ago, I met with a potential client. After an in-depth discussion of his issue, I gave have him my recommendations and explained the costs to proceed. He objected, stating that because I’ve handled that type of situation before, it should be trivial and quick. This underscored a fundamental misconception for what attorneys do and why they are a valuable resource.

I’ve encountered numerous people that think attorneys do nothing more than fill in blanks on forms and templates. The reality is that while there are forms and templates for the pro-forma parts of a document, the meat of the document requires skill, thought, and attention.

There is a process

Every situation has its own unique set of circumstances. It all starts with the initial consultation. A good attorney will ask numerous questions to get all the facts to have a full and complete understanding. Then and only then can an attorney give advice as to what they believe are the best steps to take.

When drafting documents, an attorney will research the issue to find relevant case law, apply the clients’ unique facts to the law, and persuasively argue their clients’ position. Even if it’s a document the attorney has drafted before, that research and application is always unique to the clients’ facts.

Put simply, the law is not formulaic. It’s a lot more than just filing out a client’s name on a pre-drafted document. It takes time and skill. The last thing you want is a hastily prepared document that may not effectively address your issue.

Attorneys are professionals too

Look it at this way. If you tore your ACL and needed surgery from an orthopaedic surgeon, would you tell the surgeon that it should be quick and easy because he’s repaired an ACL before? No. Because your knee is different, and the surgeon still needs to go through all the steps to properly complete the surgery.

If you have an issue, good legal advice and representation is important to ensure you get the best possible outcome. Consult with an attorney that takes the time to truly understand the issues and your goals. If you are in the Plano or Collin County area and want to know more about us, Contact us to schedule a consultation to meet with us.

We want to help you. You just have to let us.

 

Equifax Musings – Handling an epic data breach

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Thoughts On The Equifax Data Breach

Chances are the data breach announced by Equifax affects you. Hackers were able to access social security numbers, drivers’ license numbers, birthdates, addresses and credit card numbers from about 143 million people. This is a mind-blowing number.

For years, we’ve all been bombarded by ads from the 3 major credit union telling us that we need to purchase credit reports from them and credit monitoring services because all kinds of bad things could happen if our data is stolen. Little did we know, that stolen data would come from them. Maybe it’s not fair to lump all 3 of the companies together. But as we know, we’re judged by the company you keep (I’m a lawyer so I must be an unethical, money-grubbing, bottom feeder who went to law school because I got tired of serving fries).

Equifax has posted an online tool to check if you have been affected. But use this tool with caution. An article has indicated that your individual results may vary if you use it more than once. So if it tells you you’re in the clear, don’t assume you actually are. Likewise, if it says you were part of the breach, don’t panic. No matter what, take prudent steps to protect yourself.

Arbitration

There has been a lot written about Equifax and their arbitration clause. It seems that just by using the tool, you were agreeing to mandatory arbitration. New York’s Attorney General has already expressed his opposition to this clause. Equifax has since clarified that the arbitration clause does not apply to the breach.

An open issue, to me, is what about arbitration clauses for people who are already Equifax customers? Having not seen the agreements, I can’t say for sure whether or not it applies, but I would argue it doesn’t. Sometimes, public policy trumps a contract.

In this case, I think public policy would say that you can’t be forced into binding arbitration for an event that is so outrageous and so injurious that it could never have been contemplated. Especially when there will likely be a question of negligence.

Credit Monitoring

Equifax is also offering a year of free credit monitoring. But beware. Reports indicate that you must sign up with a credit card and you will be automatically renewed when the year is up. (Update: Equifax is no longer requiring a credit card.) This is particularly galling. The idea of credit monitoring is to protect you against a data breach. When the data breach itself is from the company selling credit monitoring, it certainly seems tone-deaf.

My recommendation is to make sure your credit card expires in less than a year. Some credit card companies allow you to create a temporary number that is only good for one use. This service is a great one to use in general if you are worried about your credit card information stolen.

You may already have access to free credit monitoring. Some AAA plans include it as a part of their membership. Some credit card companies also include credit monitoring as a perk. Check with your alumni groups or insurance company to see if it’s a benefit available to you.

Fraud Alert

At a minimum, you should place a fraud alert on your credit file. These are only good for 90 days (they can be renewed), which is not nearly enough time to thwart a potential use of your credit, but it’s long enough to let the dust settle and see what Equifax and the other credit bureaus are going to do. I imagine politicians are going to get involved and there will be many, many lawsuits (Update: And they’ve started piling in).

To place a fraud alert, contact one of the 3 credit bureaus. If you place the alert on one, they are required to notify the other two.

Equifax
P.O. Box 7402741
Atlanta, GA 30374
Report Credit Fraud:
(800) 525-6285
Request Credit Report:
(877) 322-8228
www.equifax.com or https://www.alerts.equifax.com/AutoFraud_Online/jsp/fraudAlert.jsp

TransUnion
P.O. Box 2000
Chester, PA 19022
Report Credit Fraud:
(800) 680-7289
Request Credit Report:
(877) 322-8228
www.transunion.com

Experian (TRW)
P.O. Box 2002
Allen, TX 75013
Report Credit Fraud:
(888) 397-3742
Request Credit Report:
(877) 322-8228
www.experian.com

Credit Report

Remember that each of the 3 major credit bureaus must, by law, provide you with a free credit report once a year. More info is available at http://www.annualcreditreport.com.

If you have legal questions about how this data breach may affect you or your business, contact us for a consultation to discuss your concerns.

Happy National Cupcake Day!

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Here at Saraiya Pllc, we take National Cupcake Day very seriously. In honor of the holiday we thought we’d share some of our favorite cupcake recipes.

Enjoy and bake these fantastic cupcakes as your own way of celebrating National Cupcake Day!

Perfectly Chocolate Cupcakes (Source: Hershey’s)

cupcakesIngredients:

  • 2 Cups Sugar
  • 1-3/4 Cups All-Purpose Flour
  • 3/4 Cup Unsweetened Cocoa (Best quality available)
  • 1-1/2 Teaspoons Baking Powder
  • 1-1/2 Teaspoons Baking Soda
  • 1 Teaspoon Salt
  • 2 Eggs
  • 1 Cup Whole Milk
  • 1/2 Cup Vegetable Oil
  • 2 Teaspoons Vanilla Extract (Best quality available)
  • 1 Cup Boiling Water

Directions:

Line muffin tin with paper liners. Heat oven to 350 degrees (F).

In a large mixing bowl, stir together sugar, flour, cocoa, baking powder, baking soda, and salt.

Add eggs, milk, oil, and vanilla. Beat on medium speed for one minute.

Stir in boiling water (the batter will be thin).

Fill liners 2/3 full with batter.

Bake cupcakes for approximately 18-22 minutes.

Cool completely on wire rack before frosting.

Makes 24-27 Cupcakes

My favorite buttercream frosting recipe for cupcakes (Source: Williams-Sonoma)

Ingredients:

  • 6 cups confectioners’ sugar
  • 16 Tbs. (2 sticks) unsalted butter
  • 4 1/2 Tbs. milk, plus more, if needed
  • 2 tsp. vanilla extract
  • 1/4 tsp. salt
  • Food colorings (optional)

Directions:

Have all the ingredients at room temperature.

In the bowl of an electric mixer fitted with the flat beater, combine the confectioners sugar, butter, the 4 1/2 Tbs. milk, the vanilla and salt and beat on low speed until combined, about 1 minute. Stop the mixer and scrape down the sides of the bowl. Increase the speed to medium and beat until fluffy, about 3 minutes.

If the frosting is dry, add more milk, 1 tsp. at a time, until it is creamy but still holds peaks. Tint with food coloring as desired. Makes about 4 cups.

Some other good cupcake recipes and dessert blogs:

 

Principal Office

Saraiya Pllc
Business, Trademark, & Estate Planning Lawyers
7160 Preston Road, Suite 100
Plano, TX 75024
(469) 277-3400