North Carolina just passed its crowdfunding statute, and is currently drafting regulations to implement it. The “Providing Access to Capital for Entrepreneurs and Small Business” Act – PACES – is a N.C. law that allows N.C. businesses to raise capital from N.C. investors. If you […]
Business Succession Planning Business succession planning is important for business owners as you and your business mature. It can mean doing nothing – disasterous – working with your family and estate lawyer to transfer ownership to a family member on your death; or coming to […]
This week’s Insight discusses the control of a business – who makes the corporate decisions. The answer is dependent on the business form (sole proprietorship, partnership, Corporation, LLC) and how it was set up in the first place. The worst decision-making setup (and the best […]
“Nonprofit” and 501(c)(3) seem to go hand in hand. But something interesting popped up on my radar the other day, it turns out that not every “not for profit” needs to qualify for tax exempt status under the Internal Revenue Code section 501(c)(3) in order […]
LLC decision making: LLCs are unique in that “ownership” has two different meanings. First, it means the right to make decisions about how the business is operated. That’s called “Membership” and “Management”. Second is a right to receive profits from the LLC, that’s called an […]
Shareholder removal. This seems to be coming up a lot lately: small businesses trying to get rid of “partners” or specifically, shareholders. This article will discuss some ways that a small North Carolina business can move out unproductive or unwanted shareholders. It’s not always easy […]
Why should business owners embrace the legal structure of their business? This article applies to corporations, limited liability companies, even partnerships. Any legal structure where there are two or more owners. What is the “legal structure” of a business? I know, this starts out like […]
Short post today about bragging rights in the marketing / social media contract. Let’s start by defining what I mean by “bragging rights”. Bragging rights are the right of one party to a contract to publicize the fact that they are working with the other […]
Ready to start and grow your business on the right track? Ready to learn about growing your business? Start your business out right by creating a clear framework for operating the business, growing it, working with investors, and selling it. In this business seminar we’ll […]
The jargon of the trade calls them “inventions assignment” or even more technically “employee proprietary information and inventions agreements”. In layman’s terms, it means if you “invent” something using your employer’s tools or facilities, information provided to you, contacts, proprietary information, or related to its […]