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Business planning is important when starting out, and a solid plan can give the business direction. If there are multiple people involved, like two business partners, the plan also ensures that they’re both on the same page. They’re working toward similar goals, and...
The process of settling a deceased person's estate (probate) can be complex under any circumstances, but when businesses are involved, additional challenges can arise. Here are three matters that can complicate probate when it intersects with business interests. 1....
Business partner disputes can be very complicated. Two people may not see eye to eye, and it can become difficult to make decisions. After all, if both people own 50% of the company, then they have to work together on these important decisions, rather than letting one...
Opening a business is a major undertaking because there are so many things to consider. One of these is what types of taxes have to be paid. The specific taxes that a business will have to pay depends on the business structure, the type of goods or services they...
In general, a fiduciary duty means that someone has to consider the best interests of another individual or potentially a business entity when making decisions. If they have a fiduciary duty, they cannot simply act in their own best interests at all times, especially...
Business disputes are almost inevitable, but how you handle them can make a big difference in your company's future. While filing a lawsuit might seem like the only way to get justice when dealing with a contract breach, a partnership fallout or unfair competition, it...
One of the first decisions you have to make when you start a business is the type of structure you’ll use. Some people choose to start out with a sole proprietorship, but that’s not the only option you have. A limited liability company (LLC) is another one of those...
Many people assume they have a right of inheritance when someone dies. Spouses, children and other immediate family members are the legal heirs who inherit from an estate if the deceased person does not have a will. People can also establish wills that name various...
The contracts you sign with the parties you work with, be it an employee, business partner, supplier or contractor, will include dates. These dates are crucial, as they impact the enforceability of your agreements. Below are four examples of such dates: 1. Execution...
As a small business owner, you may find yourself networking and meeting other business owners in your local area. If two of you hit it off and think you can work well together, you might come up with ways for your companies to complement each other. By working...