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 This process, by which a court finds that the shield of incorporation is no longer valid, is known as “piercing the veil.”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

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