Nonprofits and the Law: The Three Basic Legal Duties of Nonprofit Board Members

For most people, serving as a board member of a nonprofit organization is quite an honor. In addition, however, there are also some serious responsibilities and legal obligations that need to be observed throughout a board member’s term in order to avoid issues. Specifically, board members for nonprofits have three duties, which are the duty of care, duty of loyalty, and the duty of obedience. Understanding each of Read More

Spot the Difference: Independent Contractors vs. Employees

Business owners know that it is necessary to have people performing work on their behalf in order to get everything done. There are many ways to bring people on to help accomplish all the necessary tasks. Two of the most common options are to hire on employees (either full time or part time) and to bring in independent contractors to complete work. As an employer, it is important to know the difference between these Read More

5 Important Aspects Every Client Service Contract Should Cover

When running a business, employees provide an invaluable service for things that need to be done on an ongoing basis. There are many times, however, when you need specific work done for a certain amount of time, or you need specialized services on a limited basis. When this is the case, bringing in outside contractors or vendors is an excellent option. In order to avoid conflicts and other issues, anyone who is Read More

When Playing Nice Just Doesn’t Work Anymore: 4 Common Causes of Partnership Disputes

Starting a business is an exciting experience, and doing it with a partner can be a great way to boost your chances of success. When things are just starting out, everything may go relatively smooth. Over time, however, conflict is almost inevitable. Companies that learn how to properly handle disputes are the ones that have the best chance at success, so take some time to learn about four common causes of disputes Read More

Funding Startups: 5 Ways to Raise Capital for Your Business

When you’re just getting your business started, there are times when you will need to get some extra capital. In the past, this typically meant approaching a bank with a proposal and hoping for the best. Today, however, there are more ways to raise capital than ever before. The following five options should always be considered, with the pros and cons of each weighed to ensure you’re following the right funding path Read More

Sworn to Secrecy: When to Leverage a Non-Disclosure Agreement

When running a business, there are many times when your employees need access to ‘company secrets.’ Whether it is a complex formula for a new product, or information about a future advertising campaign, you don’t want anyone sharing this information with the news, consumers, or competitors. To help ensure this doesn’t happen, you can have all employees, vendors, contractors, and anyone else with access to the Read More

Business Law 101: The Importance of Vendor Agreements

A vendor agreement, or vendor contract, is an important document because it identifies the terms and conditions of a relationship with a specific vendor. This includes things like identifying what services or goods will be provided, the price of these items, dates for delivery, and much more. These agreements can be made for a one-time event, or a long-term agreement. Taking the time to understand why vendor Read More

Key Questions to Ask Yourself When Choosing a Franchising Opportunity

For those who are interested in running their own business, there are several paths to consider. Starting an entirely new business from scratch is often the first thing that comes to mind, but in many cases, it can also be the most difficult. If you don’t have a specific business idea in mind that would push you toward starting something unique, an excellent alternative is opening a franchise. Franchises are Read More

5 Steps to Take Right Away to Increase the Future Sale Value of Your Business

Running a business takes a lot of work. If you are a business owner and think the time may be approaching when you’ll want to sell the company sometime in the next few years, it is a good idea to start preparing now. There are many steps you can take today to increase the value of your business in years to come. The following five steps will help you to get as much money as possible when you decide to sell. Create Read More

Want to Be a Business Owner? Learn the Advantages of Building a Startup vs. Purchasing an Existing Business

If you’re thinking about breaking away from life as an employee and starting your own business, you are likely looking at building a new business from scratch. While that is a great option in many cases, it is also smart to consider buying an established business and building it up from there. Learning about the advantages of each option will help give you the best chance of success. Advantages of Starting from Read More