Piercing the Veil: 6 Common Ways Business Owners Expose Their Personal Assets to Liability, Part II

In our last blog we explained three common ways that business owners expose their personal assets to business liabilities. This process, by which a court finds that the shield of incorporation is no longer valid, is known as “piercing the veil.” In Part I, we explained how commingling assets, failure to present one’s business as a separate entity, and failure to maintain records can all lead to piercing the Read More

Piercing the Veil: 6 Common Ways Business Owners Expose Their Personal Assets to Liability, Part I

One of the biggest reasons entrepreneurs choose to incorporate their companies, whether as an LLC, some sort of corporation, or another type of business entity, is to protect their personal assets from the liabilities of their business. Thus, if their company is sued or falls into debt, courts and creditors cannot go after things like the business owner’s home or other assets to pay what is owed. However, there Read More

A Brief Guide to Alternative Dispute Resolution for Businesses

As a business owner, it is almost certain that you will face some sort of legal dispute at one point or another. Another certainty is that you will probably want to minimize the costs of those disputes. Sometimes, litigation is a necessity, but it is not always your only option. There are several methods of alternative dispute resolution (ADR) that can effectively help businesses resolve their disputes in an Read More

5 Signs of a Healthy Business

Previously, we’ve discussed some of the major red flags you need to watch for when you are looking to buy a business that could indicate the business is in trouble and not worth your money. But how can you tell if the company you want to buy is healthy? To determine a person’s health, we simply go to the doctor and get a physical. Doctor’s look at key indicators like blood pressure and heart rate. Similarly, Read More

4 Contracts Every Business Should Have Their Employees Sign

Whether you are hiring your company’s first employees or simply adding new employees, the employment relationship usually starts with a sense of excitement and optimism. These are the people that are going to take your company to new heights and help you achieve your goals and dreams. The unfortunate truth, however, is that every hire you make is simply not going to work out. No matter how extensive the interview Read More

8 Reasons Your Nonprofit Could Use Legal Counsel

Nonprofit organizations (NPOs) face a number of legal challenges throughout their inception and lifespan—some of which are unique to NPOs, while others are very similar to for-profit businesses. However, far too few nonprofits are willing to utilize legal counsel to mitigate their risk and ensure legal compliance. Below we’ve detailed eight reasons your nonprofit might want to think about hiring an attorney, like Read More

5 Reasons You Need a Business Lawyer BEFORE a Dispute Arises

Legal representation for businesses is not just for litigation purposes. If you’re waiting until you are faced with a major legal issue like being sued by a disgruntled vendor or client to hire a lawyer for your company, then you are putting your company’s future at risk. There are a wealth of benefits to retaining legal counsel for your business, no matter its size. And with a law firm like APH Law, you can work Read More

Buying a Business? Watch Out for These Red Flags

It can be much easier to buy a business than to build a brand new one. Most of the foundation and structure will already be in place and hopefully it is already profitable or can quickly be made profitable. However, buying a business can be tricky. If you’re not careful, you could find yourself sitting on a company that causes you nothing but trouble. It is essential that you do extensive due diligence before Read More

Five Ways to Sell Your Business for Top Dollar

You’ve put a lot of blood, sweat, and tears into your business, and when you sell it you expect your business to repay you for all your efforts by generating the kind of sales price that makes it all worthwhile. Unfortunately, many business owners are shocked to discover that their businesses are worth much less than they had been hoping, or even counting on. To get the kind of value out of your business that you Read More

Four Essential Elements of a Solid Partnership Agreement

New undertakings are always exciting, but few are as exciting as a new business. You have a great idea and you and your partner have been best friends since high school. What could go wrong? Unfortunately, even the best relationships sometimes fall apart in the face of the stresses created by running a business. Every business partnership needs a strong agreement to protect the business, and a good agreement can Read More