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 […]
“Goodwill” is defined generally as that value of your business that is over the simple measure of the value of the assets of the business. We’ll get deeper into how to define goodwill in a second. When Is Goodwill Valued? In talking about goodwill, it’s […]
Commercial Lease: Why There Is No Such Thing As A “Form” Lease. I get this a lot from my business clients that are looking for commercial space to lease, and present me with a commercial lease to review and advise on. “It’s just a form, […]
Next article in my “business startup series” of articles. Today I’m discussing what owner agreements should be in place for a business with multiple owners. Owner agreements should define who makes what decisions about how the business is run and the money spent, how profits […]
Today’s blog post is on registering a business as a “dba” or “doing business as”. We also call a dba an “alias”; an “assumed business name” or “assumed name”, or “fictitious name”. All mean the same thing; however in North Carolina the statutory term is […]