Franchise Facts: Basics of Fees and Royalty and What Happens If They Go Unpaid

As a franchisee, you get access to an established business structure but there are costs that you must pay in order to achieve that. With more than 900,000 franchise businesses located across the United States providing all different kinds of services and goods, it's important to see that purchasing a franchise is like an investment. The franchise agreement will stipulate your responsibilities as it relates to Read More

What Franchisors/Franchisees Should Know About Trade Secrets and Proprietary Information?

It is important for any franchisor to understand trade secrets and to have a plan to protect these where necessary. The first step involves identifying trade secrets. Franchisors must be able to identify what trade secrets are with certainty. The operations manual on all of the information inside is not clear enough to identify trade secrets. Trade secrets are any piece of information that gives you specific edge Read More

Four Contract Clauses Business Owners Should Consider

Contracts are an important way to do business with others whether it is contractors, vendors or partners. Having properly written and executed contracts can help save you in the event that the other party breaches. What you put into the contracts should always be reviewed carefully by a business attorney. Failing to have the right clauses inside any business agreement or contract may be something that an owner Read More

Employee Agreements Meant to Minimize Disputes: How Business Owners Can Use Them

A company should always be aware of the potential risks facing the business and take all necessary steps in order to minimize those risks that return. One of the best ways to do this is using employment contracts or employment agreements. These are legally binding agreements between an employee and an employer that lay out the duties of both parties and the terms of employment. These can assist a small business to Read More

Six Key Ways That Entrepreneurs Are Facing Risks

Establishing your own business is an exhilarating prospect but it is also one that comes with an inherent level of risk. Unfortunately, entrepreneurs continue to face risks in their business every single day and without knowledge of an outside professional in the form of a business attorney, they may be exposed to risk on a regular basis. What follows are six common situations that put entrepreneurs at risk even if Read More

How to Vet a Potential Franchisor

Engaging in any kind of franchise relationship should always be done with due diligence and the assistance of an experienced business attorney. After you have filled out the initial qualification form and gone online to do your research, this is officially clearing the first hurdle. However, after this time period you will need to engage in a phone call with the franchisor so the communication becomes a two-way Read More

Purchasing A New Business? Watch Out for These Bad Signs

Identifying a new company to purchase can be an exciting proposition, particularly, when you are advised by an experienced business attorney. However, if you do not take the necessary steps to protect yourself by engaging with an attorney and doing all of your research beforehand, you could find yourself suffering from a bad business purchase decision. Thankfully, there are several different signs that you can Read More

Closing Up Shop: What You Need to Know About Winding Up and Dissolving a Florida Corporation

If it’s time to close up shop and move on, it’s important to know the steps to take to properly dissolve your Florida corporation. These instructions apply only to Florida C corporations. So, if you have an LLC or an S corporation, the steps you need to take to dissolve these entities is going to be different. If you’re ready to shut it down, here’s what you need to know. 1) Consult with your attorney. As this Read More

Corporate Formalities: Are You Protecting Yourself?

Corporate formalities are essential to abide by even in the event that you're running your business on an ethical platform. Even company owners and corporate officers who follow ethical guidelines could still wind up in court and end up bankrupt if they fail to observe corporate formalities. There is a great deal of liability protection afforded by incorporating a business. Using Corporate Formalities for Read More

Independent Franchise Association Pros and Cons

If you are considering working with an independent franchise association, it is important to understand that there are benefits as well as disadvantages of going this route. Understanding all of the differences between them can help you make an informed decision about what is most appropriate for you. An independent franchisee association is an organization of various franchisees usually within one franchise Read More