Choosing the right business structure is a crucial decision for entrepreneurs, impacting everything from tax liability to personal liability and the ability to raise capital. Many business owners find that a limited liability company (LLC) offers advantages over a...
Business Law
What is corporate maintenance?
Corporate maintenance is an umbrella term used to describe the ongoing tasks and obligations a corporation must fulfill to remain in good standing with state and federal regulations. This broad term covers a variety of activities, from the filing of annual reports and...
Areas to cover in a partnership agreement
If you start a business with someone else, don’t just agree to work together through a handshake deal. Sit down and write out an official partnership agreement. Starting a business is a major step, and you need to protect your interests. But what should go in this...
Important legal aspects of starting a business
If you’re an entrepreneur making moves to form your own company, this is very exciting. It’s an opportunity to potentially make money and show the world what you have to offer. Nonetheless, there are no guarantees of success and there are also legal pitfalls to be...
Risks that can derail your partnership
You and your friend have decided to become business partners, and you both have agreed to share the responsibility of managing your company equally. One of the many advantages of a successful business partnership is the ability to share costs and duties associated...
Key differences between a sole proprietorship and an LLC
When starting a business, you must decide whether to establish a sole proprietorship or form a limited liability company. Both structures have distinct advantages and differences that can significantly impact the day-to-day operations and the owner's potential...
What goes into a business partnership contract? 3 key items
It’s wise to use a contract when starting a business partnership. Not all partners do this, and many simply rely on a handshake deal. However, doing so can lead to significant problems and disputes down the road. A contract helps by defining certain terms and putting...
Reasons to have your employees sign non-disclosure agreements
In today's highly competitive business landscape, protecting sensitive information and maintaining confidentiality has become crucial for companies of all sizes. As an employer, it is essential to safeguard your intellectual property (IP), trade secrets and...
Can an employee quit without notice?
Employees sometimes want to leave their jobs immediately, perhaps feeling disgruntled or burned out. Employers, on the other hand, typically want employees to give them two weeks’ notice. The employer, after all, has to think about finding someone else to replace that...
What constitutes vagueness in a contract
The parties you work with should sign contracts. These agreements will protect you and them, outline how you will work, and provide conflict-resolution methods, among other benefits. Nonetheless, disputes can arise from these agreements due to different reasons,...