Bringing a new business partner, co-owner, or investor comes with its own issues. Be aware of these and how to avoid problems. WHY BRING ON A NEW BUSINESS PARTNER? There’s many reasons to bring a new business partner into your business. They may have an […]
Today’s post discusses shareholder issues, how to work with your investors. I also discuss how to get rid of unwanted shareholders. Shareholder issues can slow a company’s growth. Unwanted shareholders may vote against moves that could lead the company to profitability. There’s a few ways […]
Your corporation is required by statute to have a board of directors. But why, and what do they do? Find out in this quick video.
Friends and family loans can be great resources to help your business start and grow. But there are the obvious pitfalls of dealing with family when it comes to money and your business. The main thing I advise my clients on when taking money for […]
Here we talk about “scope of work” in all contracts. It is exceeding rare that a client says to a vendor/contractor, “I’m not going to pay you because screw you, I just don’t want to pay you” (although, I am seeing more of this in […]
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 […]
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 […]
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 […]