What Is A Letter Of Intent For Selling Your Business?

Selling your business often requires a fair round of negotiations. The seller wants to receive the full value of their venture, while the buyer desires to pay a fair price on assets and policies. 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.  A letter of intent (LOI) is a written Read More

6 Ways Disability Discrimination Can Manifest in the Workplace

With the advent of the Americans with Disabilities Act (ADA) in 1990, the issue of disabilities in the workplace became more well-known and understood. Employers learned more about their obligations with respect to disabled workers, and individuals with disabilities learned about their rights in the workplace. Despite this law, individuals with disabilities unfortunately still face discrimination in the workplace, Read More

What Is An Incorporator?

Turning your business into an LLB, LLC, sole proprietorship, partnership or corporation is not necessarily simple. Even if you make the decision on which type of business is best for your interests, you still have to go through a lot of paperwork. You want to consider viable alternatives. The process, called incorporating, requires abiding by both state and federal laws. An incorporator is someone who handles the Read More

The Pros and Cons of Organizing as an LLC in Florida

When you’re organizing a new business in Florida, there are several entities to choose from, from sole proprietorships and partnerships to corporations and more. One increasingly popular structure is the Limited Liability Company, or LLC. In fact, Florida is the fifth most favorable state for one. An LLC is a business entity that combines the strong liability protection of a corporation with the flexibility, Read More

An Overview of Adhesion Contracts and Clauses

Signing contracts is a regular part of our daily lives. They are essential written agreements by which we agree to exchange products, services, or rights with another party. These can include individuals or businesses. Some contracts are as simple as signing a credit card receipt, while others are more complicated, like when you sign a loan agreement. Although you probably did not know it at the time, chances are Read More

8 Common Boilerplate Clauses and Why They Matter

Boilerplate clauses are, by definition, routine provisions that appear in nearly all business contracts and are often overlooked. This does not mean they do not carry significant weight or have any impact on your business agreement; the purpose of boilerplate clauses is to protect the interests of all parties that sign the contract. Although boilerplate provisions vary from contract to contract (another reason to pay Read More

Franchising vs. Licensing – Understanding the Differences

Franchising and licensing are often lumped together when average people discuss business expansions. There are some key differences, though, that both sides need to be aware of when engaging in this type of business transaction. The main trade-off between the two is the infrastructural support you receive as a franchisee versus the operational freedom licensees are granted. A franchisor positions franchisees for a Read More

4 Things Vendor Agreements Should Contain

Let’s face it. To run your business, you need vendors who can help with any number of services or items that are critical to your operations but are not in your area of expertise. While many vendors are moving toward standard form contracts for the sake of uniformity and consistency, it is still possible to have a negotiated contract with a vendor.  Regardless of whether your vendor is asking you to sign a standard Read More

The 6 Most Important Elements of an Asset Purchase Agreement

Every good business needs to know its contracts, especially regarding assets. You want to ensure that you get the highest value when you buy or sell assets, which can include land, vehicles or equipment. Thus, it’s good to know all of the terms and how to get the most benefit out of the written details.  What Is An Asset Purchase Agreement? An asset purchase agreement is exactly what it sounds like: an agreement 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. A franchise is essentially opening a store while using an established brand’s name and resources to turn a profit. A fast-food chain Read More

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