Partners or Investors: Choose Wisely For Future Profits
In episode two I discuss how to work with partners and passive investors, what legal agreements your business should have in place. Have a listen
Author: Michael Palermo
Business formation: Corporation or LLC or … other?
Episode one: Starting your business, what form should it take (corporation, LLC or other), what documents do you need to be able to work closely with your partners.
Risk Mitigation Legal Strategies For Your Business
Risk mitigation legal strategies for your business. Don’t be left exposed to multiple liabilities that deplete and devalue your business. Find out more here:
Operating Agreements: What Are They and Why You Need One
What are LLC “Operating Agreements” and why do you need one? Short answer is the OA defines the rights and roles of the various owners and interest holders in a limited liability company. Who gets what, who can or can’t do what. It’s an agreement […]
Corporation or LLC: Which Form is Best for Your Business
Corporation or LLC: it’s a question I get all the time. The answer is not so simple as going down a checklist though. You need to consider many factors. Who will be making decisions. How profits will be split. What your personal tax situation is. […]
How To Take Profits Out of Your Business Now
Money! Okay got your attention. The topic is how do you get money – profits – out of your business. It’s not as simple as sticking your hand in the register, or writing yourself a check, especially when there are multiple owners involved. There’s a […]
Business Succession Planning: What Is It?
Does your business have a plan to continue operating if a key owner unexpectedly leaves? Don’t leave succession to chance. It’s not just for majority owners, but minority owners are served by having a plan in place.
Interim Succession Planning for business continuation
What is your business’s interim succession plan when a key owner or manager leaves unexpectedly? Here’s some information to get you started.
Selling A Business Part 1: Selling Shares
Selling a business is a complicated business transaction, but depending on the nature of the business and the assets being transferred, there’s ways to make it go easier. It’s important that well before the actual sale date the business books and records are in order, […]
Commercial loan: How Money Gets Into Your Business
Commercial Loan. All money that comes into a business goes into one of three categories: revenue, purchase of equity, or a commercial loan. That’s it, there’s no such thing as a “gift” to a business (although grants are not uncommon here in Asheville). It’s important […]