Month: December 2016

Promoter Liability: When You Remain on the Hook Once the Company Is Formed

Before setting up a business, whether it be a partnership, an LLC, a corporation, or the like, you are required to enter contracts to ensure smooth beginnings for your new venture. However, not many realize that you can remain individually liable on these contracts regardless of the form of business you set up. In legal …

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Understanding ERISA

Whether you’ve heard of ERISA or not, if you are a working adult there is a strong chance that this federal law has major implications for your future—namely, your retirement. ERISA stands for the Employee Retirement Income Security Act of 1974, and it impacts millions of Americans. Its most basic purpose is to set the …

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Are You a Business Owner or in a Partnership? Know the Duty of Loyalty Owed to You!

If you own a business, or work with others in a business-type capacity, you are owed certain rights from your co-venturers. One of these rights is known as the duty of loyalty. Essentially, every partner owes one another a duty of loyalty whereby all their efforts are owed to the partnership rather than to themselves. …

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Hiring an Agent or Employee to Work on Your Behalf? Know the Duties Owed to You!

As a business owner, you often have to hire employees to do work on your behalf. This is almost inevitable for every business owner. Employees hired to work on your behalf are known, in the legal sense, as your agent, and as an owner, you are their principal. This creates a special relationship between principal …

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