If you are married to someone with excellent business savvy with whom you can work productively, a partnership with them could function very well. Still, the question of whether to make your spouse your business partner will have a different answer for everyone. Each...
BUSINESS & COMMERCIAL LAW – Business Formation & Planning
A proper partnership agreement can protect your business
Without a solid partnership agreement that defines each partner’s duties and responsibilities, your partnership may be built on quicksand. Fallouts among partners can be the beginning of the end of your partnership. Therefore, it is crucial to have such an agreement...
Do you need a succession plan for your business?
Everyone has different goals in mind when creating a company. Some do so to sell and retire on the proceeds. Others to one day pass it on to their children to run. Whatever your ultimate goal, it’s wise to remember t things do not always go to plan. So while you might...
What should you look for in a business partner?
Finding the proper business partner is a big part of starting your own company. You certainly don’t have to work with someone else, but if you do, your company‘s success is largely tied to how well this partnership works. Seeing how important it is to find the right...
Why sole proprietors need to separate personal, business finances
Many entrepreneurs start their first business as a sole proprietorship. It’s typically the easiest business structure to form. However, it also leaves the owner financially vulnerable if the business is sued or accumulates debt it can’t pay. Sole proprietors often...
Important clauses to include in a business formation contract
A business formation contract is an essential component of any business entity. A contract outlines each party’s rights and obligations. It also makes it easier to resolve any disputes that may arise during the course of the partnership. Since this contract is a...