What I Learned from My Private Sit-Down with Daymond John

Last month I was lucky enough, along with just 10 other people, to get a private hour with Daymond John from NBC’s Shark Tank.  If time is money, then this was an extremely valuable hour, and I intended to make the most of it.  Some people in the small room asked questions about Shark Tank, some made small talk.  My goal for the session - which I planned out ahead of time - was to figure out how Sharks like Daymond Read More

5 Elements of a Strong Offer Letter

You have found the person with whom you want to spend a great deal more time and collaborate on ambitious and great things. You should probably make it official with an offer letter. This is not an offer of marriage, but rather the offer letter you give to the person you want to hire. Considering that this may be a mutually beneficial long-term relationship, it is worth the effort and investment to do it right at the Read More

Are a Non-Disclosure Agreement and a Non-Compete Agreement the Same?

The short answer to the question is no. Non-disclosure agreements (NDAs) and non-compete agreements (NCAs) are related but they are definitely different agreements with different purposes. Both, however, are usually expected to be signed by employees, contractors, and others who work with trade secrets or other proprietary information prior to being given access to that information. Non-disclosure agreements are Read More

Beware: 4 Common Reasons Insurance Companies Deny Life Insurance Claims

Everyone is encouraged to have life insurance because it is, in some cases, the last and best chance for your survivors to get some amount of money upon your death. Many employers include life insurance as a perk, and in some cases, certain individuals are required to buy it, depending upon their importance to the financial future of a business. Like all insurance, however, the final determination of whether or Read More

What is the Difference Between a Shareholder Derivative Suit vs. a Direct Claim?

Shareholders in corporations play an interesting role in governing those corporations. By virtue of owning a small portion or “share” of the company, a shareholder has some power to affect change within the corporation, including actions against the corporation. There are two main types of actions against a company: direct claims and derivative suits. What does each mean? Direct Claims If a shareholder is Read More

What Are You Liable for After Buying an Existing Business?

The contract has been signed, the money has been sent, and, most importantly, the keys and the customer list have been handed over to you. You’re in business, right? Maybe. If you buy a business, it is very possible that you are buying not only the assets but the liabilities of the business as well. Buying a business is different than buying just about any other asset. Real estate can come with some strings, but Read More

The 6 Most Important Elements of an Asset Purchase Agreement

When it comes to asset purchase agreements, the more information and details are included, the better. This is because the asset purchase agreement serves multiple purposes, including: Describing the assets to be purchased Setting forth the terms under which the goods are transferred Laying out the rights and responsibilities of both parties Here are the 6 most important elements that need to go into Read More

6 Ways to Help Prevent Financial Abuse of the Elderly

Elder abuse takes many forms, but one of the most common is financial abuse where the elderly person’s assets are drained or at least significantly depleted by fraud, theft, and similar schemes. Many times this happens because the elderly person may no longer be keeping close track of their finances, or worse, they may be taken advantage of by others such as caregivers or contractors. Financial abuse of the elderly Read More

The Advantages and Disadvantages of Franchising

Running your own business is a cornerstone of the American Dream. Those with a unique business idea and the right amount of drive and capital tend to build their own company from the ground up, while others prefer to enter the business arena by buying into a well-established franchise. Why a Franchise? The appeal of a franchise is understandable: it allows aspiring entrepreneurs to start a new business without Read More

What are Your Capital Financing Options?

Money still doesn’t grow on trees, so if you are looking to start your business venture and you do not have a ton of capital on hand (because who does these days?), here are some options and alternatives for securing the capital you need to get your business off the ground. 1) Uncle Jim. We are serious. Many times, family and friends may have, together or individually, some spare change laying around that they Read More