The Label Training Company’s Post

Adam's law of supply and demand has many errors and is also correct in many ways, the first question about supply and demand is who is going to decide the demand according to his idea it is an invisible hand of the market but if we can examine the root of demand the new paradox will be open and Adams work will look like a just tip of the iceberg.

How do you use Pareto’s Law or the 80/20 Rule? We all have rules and guidelines we have learned over the years. The 80/20 Rule is one of the most widespread. My question is – how do you use it? And what about the two corollaries? Pareto’s Law – initially observed or developed or postulated by the Italian Economist Pareto states that 20% of your customers will generate 80% of your sales. When most of us are in businesses with limited funds and resources, this provides a great way to focus and segment our customers to make certain we protect those most important to the future of our business. Often special pricing, services and loyalty programs are developed to protect these customers from being wooed away by our competitors. I find less often people are aware of the two corollaries – 1.     10% of your customers generate 50% of you sales. And 2.     5% of your customers generate 35% of your sales. These guidelines really allow for building relationships, getting to know those customers most important to the future business with focused dollars, services, and programs. How have you used the 80/20 Rule?   #leadershipmindset #ParetosLaw #Vistage

TPMB attorneys Bradley N. Pollock, Mackenzie J. Mahony, and Grant A. Bosnich, secured a $27.7 million partial settlement in complex case on behalf of six Plaintiffs who were injured or killed during a massive explosion at a chemical manufacturing plant in Illinois. The Plaintiffs also received waivers of workers’ compensation liens totaling over $650,000.00. Kevin J. Golden and Thomas M. Lake of Dudley & Lake served as co-counsel. The case continues as to other remaining Defendants.

Watch: What’s Preventing Us From Stopping Modern-Day Slavery in Supply Chains? Tom Plotkin, special counsel with Covington & Burling LLP, outlines the challenges that companies face in complying with a wide range of laws and regulations, old and new, prohibiting the use of forced labor in supply chains. SARMAD MB https://lnkd.in/dTPEvAmZ

In this month's article for Kochie's Business Builders I've perhaps gone into a little more detail than normal, but, have tried to pack it full of information about trade marks that a lot of business owners may not know. e.g. did you know a trade mark exists whether registered or not? Do you know the difference between the ™ and ® symbols? Does a registered trade mark prevet allegations of passing off, or misleading and deceptive conduct? https://lnkd.in/gGmJSfWZ

🔍✏️ When it comes to contracts, specificity is king! A classic example is the 1960 case of Frigaliment Importing Co. vs. B.N.S. International Sales Corp., where the definition of "chicken" led to court. One party meant young chickens suitable for broiling and frying, while the other included any fowl meeting certain specifications. The takeaway? Always ensure that every term in your contract is defined with precision. Dictionaries may provide multiple meanings, but in the business world, it’s the meaning within your contract that counts. This case underlines the crucial importance of clear, mutual understanding in agreements. Let’s take this as a reminder to cross our T's and dot our I's in all our dealings. After all, a well-drafted contract is the cornerstone of good business relations. 📝💼 #ContractLaw #BusinessAgreements #LegalAdvice #ClarityIsKey

A picture may be worth a thousand words, but that doesn’t make the camera an expert witness. But as a plaintiff in the Eastern District of Pennsylvania recently learned, pictures alone are insufficient. Defect and causation still require an expert’s testimony — even in cases involving products as simple as a loaf of bread. Read this post on the “Faegre Drinker on Products” blog by Josie Pechous and Eric Friedman to learn more.

Do your due diligence when it comes to coolants and antifreeze.

Are you ready to tackle the complexities of California's Prop 65? 🚨 Businesses selling products to consumers in the Golden State face strict compliance requirements to avoid costly penalties and litigation. In his latest blog, George Dowell explains everything you need to know about staying compliant—from understanding the chemical list to crafting effective warnings and beyond. 💡 🔗 Read now: https://hubs.li/Q02_Gkxl0 Whether you’re reformulating products, managing supply chains, or navigating Prop 65 warning guidelines, this guide is your roadmap to compliance and consumer trust. #Prop65Compliance #RegulatoryCompliance #LegalGuidance #OmnusLaw #ConsumerSafety

Antitrust in a Word - Antitrust laws are critical to a robust economy. They are designed to promote fair and competitive markets, protect innovation, and provide safeguards against price fixing and other unfair business practices. Over the next few weeks, we will unpack key #antitrust terms and how to identify #anticompetitive behavior. We will highlight a case that best reflects the term and how we’re helping workers, consumers, and small business achieve justice for the common good.   This week’s term is Supply Restriction. The case is In re Broiler Chicken Antitrust Litigation. #supplyrestriction Read more --> https://bit.ly/3NPzN5q