5 Common Myths and Misconceptions About Nonprofits

There is a lot of misinformation out there about nonprofit organizations and the nonprofit sector in general. To help you separate fact from fiction and better understand how nonprofits operate, we have provided a list of five common myths and misconceptions that people often have regarding nonprofit businesses. If you have further questions or need further assistance, please do not hesitate to contact our law firm Read More

When Buying a Business, You SHOULD Sweat the Small Things

Purchasing an existing business can be a fantastic way to streamline the process of becoming a business owner. Rather than dealing with the labor intensive and sometimes risky prospect of building a new company from scratch, you can instead take control of a company for which the foundation has already been laid. That’s not to say there aren’t risks involved in purchasing a business. You could make the mistake of Read More

The Advantages of a Well-Drafted Partnership Agreement

When going into business, it is essential that you have a partnership agreement in place. Whether joining a friend, business associate, loved one, or an investor, there is always a need to define numerous aspects and tenets of your partnership in contract form, no matter how much you trust the other individual(s). A partnership agreement is a written contract between two or more parties who would like to come Read More

5 Ways Construction Contractors Can Minimize Their Risk for Lawsuits

What would a lawsuit do to your construction business? As a construction contractor, the nature of your work involves a great deal of legal risk. There is an incredibly high potential for lawsuits, so it is essential that you take the necessary steps to protect yourself and your company by minimizing your risk as much as possible. In this blog, we have detailed five steps construction contractors can take to Read More

Contract Law: 5 Common Mistakes for Business Owners to Avoid

Defining and protecting your business relationships and dealings through contracts is one of the most important things you can possibly do as a business owner. In an increasingly litigious world where, unfortunately, you can almost always expect others to put their interests above all others, utilizing strong contracts is the only way to really protect your business interests from lawsuits and from those who would Read More

The First 7 Steps You Should Take When It’s Time to Sell Your Business

Whether selling was your end-game from the start, you’ve grown tired of putting in the time and effort, or retirement is calling your name, there will likely come a time when you decide to sell your business. No matter your motivation, there are certain steps you will need to take to get started. We’ve listed some of the most important below: 1) Start early Ideally, you will have a potential sale of your Read More

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