Buying into an existing business involves a share purchase for a corporation, or a membership purchase for a limited liability company. Let’s talk about what that means for a corporate share purchase (LLCs are essentially the same, but different terminology). What “Buying Into” a Business […]
There may come a time in a corporation’s life when it wants to do a forced buyout of minority shareholders. Let’s talk about that for a few minutes. What Are Minority Shareholders? A corporation issues “shares” of ownership. A minority shareholder holds less than 50% […]
LLC Operating Agreement basics. An “operating agreement” for a limited liability company is just what the title says. It’s an “agreement” for how the legal part of the business will “operate.” So what to include in a basic LLC operating agreement? I’ll tell you. The […]
Solopreneur: I see too often that solopreneurs want to form a corporation or an LLC, but for all the wrong reasons. Here’s the 411 on if a solo business owner should form a business entity. There’s generally three or four reasons to form a business […]
The logistics of setting up an IP holding company. To create a successful business you need two things: an idea, and execution. The IP holding company holds the right to monetize the successful idea of the business, while allowing some other entity to execute monetizing […]
Six ways to structure your contract fee? That’s a lot. But as you start pricing out jobs you may find that one method does not always fit what you’re trying to do for a client. Alternatively, if you’re the customer you should at least understand […]
There is a lot to worry about when setting up a new business. Of course, how to make money. But there’s marketing, sourcing, finding a lease or property, buying equipment. It goes on. SET UP TASKS TO DISCUSS WITH YOUR PARTNERS But when it comes […]
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 […]
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.