Similar to estate planning, business succession planning is more effective when people take care of it long before they think it is necessary. The process of passing the family business to one or more heirs could take 10 years or more, and without the plan, they may...
Starting a business is an exciting and sometimes overwhelming first step for any new business owner. As you pursue mountains of legal paperwork and register a name, perhaps you've wondered if you need to write a business plan. Although business laws vary by state, the...
You probably plan for your business to exist as a thriving entity after you step down or retire, so you want to have a solid succession plan in place so that the right person will succeed you. A succession plan is important to start on as early as possible and can...
Choosing the right entity — or structure — for your business is a major decision. The various different types of business entities each have a different impact on taxes, legal liability, operational requirements and more. In addition to sole proprietorships,...
Because intellectual property is so valuable to your business, protecting it with copyrights, patents and trademarks is essential. However, that will not necessarily prevent someone from using it. Another business may even use it without realizing it is infringement....
Starting a business is challenging, and some people think that bringing on a partner will ease the stress and work. Although a partnership can be an advantageous business decision, it may not always be the right choice. Before jumping into a shared business,...
To run a successful business, you need to establish a strong foundation for your company to grow. The right foundation starts with selecting a formation for your newest venture, which depends on a multitude of factors. Luckily, there are several business formations to...
As a business owner, you rely on relationships with others to remain open. Customers, workers and suppliers are all relevant to the success of your company, large or small. In some instances, you will have to enter into legally binding contracts. Whether it is for the...
Purchasing commercial property can bring changes to your business, introducing new challenges and new opportunities. However, investment in commercial real estate can be a complex process, and it is essential to keep track of the details every step of the way. By...
In the context of business law, a trust means something different than you are probably used to. A trust, in this sense, is a large corporation that controls most of the market share of a certain sector. Because this can discourage competition and create other ill...