The Advantages and Disadvantages of an S-Corp Tax Election

When starting a business, there comes a time when you need to determine the type of legal entity it should be. This will have many implications for the business, especially when it comes to how taxes need to be paid. For many entrepreneurs, an S-Corp seems to be the ideal solution, and in many situations, it really is. Understanding the advantages and disadvantages of an S-Corp can help you to make the right decision Read More

5 Essential Elements of a Construction Contract

Crafting a construction contract is a nuanced and oftentimes complex endeavor, but no contractor should ever engage in any type of construction work without having one in place. Like the structure they are seeking to build, these kinds of contracts will be unique and customized, but they should always include certain elements no matter the nature of the job. Here are five essential things that should be included in Read More

So You Want to Buy a Business? Ask the Seller These 4 Questions First

Buying an existing business can often be a strong investment or savvy business move. Unfortunately, too many buyers do not do enough homework beforehand and end up in over their heads or with a dud of a business and buyer’s remorse. Doing your homework ahead of time and thoroughly researching your potential new company will not only help you make an educated decision, it will also help you run the business more Read More

A Brief Introduction to Business Arbitration

As a business owner, disputes are probably not something new to you. Whether with customers, subcontractors, suppliers, or employees, when interests collide problems often arise. Thankfully, you have a number of options when you want to resolve your business dispute within the legal framework. You can go the litigation route where you take your case to the courts and have a judge make a legally binding decision or Read More

You’ve Decided to Sell Your Business…Now What?

There are many reasons why you could decide to sell your business. It could be that you are looking to end partnership disputes, retiring, or just cashing out to work on another idea you have. Regardless of the particular reason, you will definitely be looking to get as much for the business as you can while avoiding any legal pitfalls. Here is a checklist of five steps that will help you achieve that: Valuation Read More

Yes, You Do Need an Operating Agreement

Many states do not require you to have an operating agreement for your Limited Liability Company (“LLC”). Washington falls into this category, but that most certainly does not mean you do not NEED an operating agreement. Many states do not require motorcyclists to wear helmets, but that does not stop helmets from being lifesavers. If you want to give your business the best chance to succeed and prepare it for any Read More

3 Damaging Misconceptions that Prevent Business Owners from Hiring General Counsel

Many business owners assume that only big companies like Wal-Mart and Microsoft need general counsel. Business giants most certainly do have general counsel, in fact they usually have entire legal departments. However, the big guys are not the only businesses that can and should benefit from general counsel. Here are some common misconceptions smaller businesses have about the necessity of general counsel: 1) Read More

Critical Issues to Define in Any Vendor Agreement

No matter what type of business you own, chances are you utilize vendors for something. Whatever they provide, from the paper you put in the printers in your office or the ingredients you use in your restaurant, vendors are essential to nearly any and all business ventures. However, there are a wide variety of risks inherent in any type of relationship between your company and another business, including having a Read More

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