Wage Regulations in North Carolina. North Carolina is a bit of a gem in its business regulations in that it leaves the pay relationship between the employer and employee for the most part. The NC Legislature has enacted some common sense regulations, however, to keep the employer […]
Regulated professions. It’s a geeky hobby of mine, browsing through the statutes to see what interesting topics the legislature was thinking about. Like in Illinois where one needs to be licensed to engage in the business of removing eggs from their shells. Seriously. Here’s just […]
Embrace Your Business Lawyer and the Legal Structure He Provides A well run business will embrace an organized legal structure, not ignore it, because it gives a foundation and structure for the legal operation of the business, can get all owners and managers on the […]
Limited Liability Companies. One of the things I find fascinating about limited liability companies – called LLC – is that the traditional concept of “ownership” of a business is split into three separate parts. Traditionally, especially in smaller or closely held corporations, “ownership” comes with […]
The corporate conglomerate This post discusses ways to organize a business structure when one business “owns” (informally speaking) several disparate businesses. I have a client that owns a transportation company, landscaping company, barricade rental, and some other seemingly unrelated companies. Each has their own insurable […]
Memorandum of lease. What is it, why does your North Carolina business care, and what should you do about it. That’s what we’re talking about today. What Is a Memorandum of Lease? In North Carolina, a lease holder may record the fact that it has […]
A “master service agreement”, what is it? If your business has repeat customers where the contract terms stay the same, but the payment and scope of work differs with each project, then consider using a master service agreement with that client. What Is In the […]
Business succession planning. You’ve planned to start your business, you’ve planned to grow it to a success. Have you planned on how you’re going to leave it?
Franchise: Is this the best option to expand your business? Or are there other ways to grow and become profitable?
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. […]