The business partner dispute. They happen. But many of them can be avoided if you set out each partners’ duties and expectations when setting up the business. Disputes After The Fact Got a call the other day – two friends had formed a fitness business. […]
“Scope Creep” is not a new phenomenon. You’ve probably been guilty of moving a contractor off the contract terms yourself. Here is how to recognize it, and how to stop it. The best method is to have a clearly written scope of work, and stick […]
In today’s post on mastering the business acquisition, I’ll write about some basic issues a business buyer may see when buying a business. The main one is valuation: what is the buyer paying for the business?. BUSINESS ACQUISITION BASICS: WHAT ARE YOU PAYING FOR? First […]
The following rules are what I consider when helping clients determine what legal form of business to create. After over 22 years as a business lawyer, I realized long ago that there is no one-size-fits-all answer to this question. I also realized there can be […]
Holding company and operating company. One of the many reasons for owning a “company” of some sort is corporate asset protection. Not only can company structures shield an owner’s personal assets from tort, contract or government levy, but one company can be used to protect […]
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 […]
Online legal documents. On Facebook this morning I saw a picture of a coffee mug that said, “Please do not confuse your Google search with my medical degree”. My first thought was “same, but ‘law degree’” The internet has given the appearance of making complex […]
Last week I wrote about business asset protection through the use of a holding company (here: LINK). In addition to the purely legal aspects of asset protection, a business owner should consider the cost/benefit to using this structure before implementing such a strategy. It might […]