Operating Agreements and Bylaws for Your Business

Did you know that your operating agreements and bylaws can be an important way to protect your company and to clarify your goals? Both of these kinds of documents can be a critical way to guard against risk and to get everyone on the same page. It might be tempting to copy and paste someone else’s documents or to create them yourself, but this kind of task calls for an experienced business lawyer. There are so Read More

What You Need to About the Basics of the Letter of Intent for Selling Your Business

Once a seller and a buyer have come together on the basic terms of a business sale, the next step will usually be that the buyer sends a letter of intent to purchase the business. This is the first formal step in the purchase process by laying out the conditions and the terms of the agreement between the two parties. Letters of intent are typically non-binding agreements that allow a purchaser to take a closer Read More

Venture Capital: When Does It Make Sense to Take It as a New Business?

There are many different types of resources out there detailing what venture capital is and how it works for new startups. In the age of many promising startups, venture capital is a word that is thrown around frequently. However, this does not mean that you will need to seek out venture capital as soon as you have a business idea. There are several different things that you need to keep in mind before moving forward Read More

Employee or Independent Contractor: What You Have to Know as You Grow Your Business and Hire Out

When it becomes time to hire contractors or employees, this is an important stage in your business and it can be an exciting one. But it is often fraught with common mistakes if you do not understand the key distinction between an employee or a contractor. These are not one and the same and it is critical to identify the difference. First of all, an employee is someone who: Works for only one employer Is Read More

Business Formation Tips: Think Long Range About Selling

As you put together your business, it may be challenging to think about selling it down the road. However, taking advantage of the planning opportunities now can make this process easier when it comes around. Long-Range Planning Benefits You and the Company One of the most exciting aspects of owning a company today is actually having the opportunity to sell it down the road. It might not be that easy, however, Read More

Avoiding the Squeeze: 4 Steps You Should Take Right Now to Protect Your Business from Frivolous Lawsuits

If there ever was a no-win situation for a business owner, it’s a frivolous lawsuit. Not only does the suit require attention, it also requires a lot of money in the form of lawyers fees to fight off the frivolous suit. The bad news is that nothing can prevent someone from filing a frivolous lawsuit. The good news is that there are a lot of things you can do to make it less likely that one will be filed in the first Read More

Planning Considerations for New Entrepreneurs

New entrepreneurs have many different aspects of running their business to worry about. It might seem like cash flow is one of the most important things you can focus on, but there are numerous different business planning avenues that should be followed and tracked regularly in order to ensure that your company is growing or in a position to be sold. One of the most important aspects of early business planning is Read More

4 Common Examples of Injunctive Relief

If ever there was a super legal-sounding term for a fairly common occurrence, it would be injunctive relief, which essentially, means to get someone to stop doing something. In other words, you want to enjoin (stop) the other party from doing something and the act of getting them to not do that something is your desired outcome or relief. Most often, there must be a showing of irreparable harm if the injunction is Read More

What you Need to Know About Fiduciary Relationships in Business

You may have oftentimes heard the term “fiduciary,” particularly with respect to relationships involving money. Fiduciary relationships, however, extend far beyond monied situations into just about every aspect of business. At their core, fiduciary relationships are ones of trust. It is fitting, then, that the term “fiduciary” derives from the Latin fiducia which means “trust.” In modern legal parlance, a Read More

5 Signs Your Business Dispute Is Headed for Litigation

Just like some colds turn into pneumonia or something else more serious, business disputes can also take a turn for the worse - they can head to litigation. Litigation is expensive, time-consuming, and may not even manage to settle the actual dispute in the long run. Thus, it is very important to know the signs of when your business dispute is heading in this direction to be able to either head it off at the pass or Read More