Being in a business partnership comes with many advantages, from having a higher borrowing capacity to supporting each other. However, several factors can lead to partnership disputes, affecting a company's intended growth. For this reason, this guide discusses three...
BUSINESS & COMMERCIAL LAW – Business Formation & Planning
Evaluating your business structure formation options
If you’re gearing up to launch a new company, you’ll want to formalize your business structure sooner rather than later. Registering your company will formally alert the state to the existence of your new business and will allow it to operate lawfully within that...
4 reasons to change the structure of your business
As your business grows, the current business structure may no longer be the perfect fit, and you may find it necessary to adjust and align with the new changes. For instance, a sole proprietorship may have been best for your start-up, but now that you plan to scale,...
Common challenges for startup companies
Starting your own company takes courage. There is a chance that you’ll make a success of it but there is also every chance that your business will fall by the wayside. In fact, some studies indicate that only around 10% of startups continue to trade after the first...
Important elements of any business contract
Owning a business means interacting and engaging with many parties and entities daily. When forming business partnerships, a legal business contract is a must. However, do you know how to create a contract or what to include? Ensuring you include the right elements...
Protecting your small business from rival firms
You’ve recently launched a new company and everything is going relatively well so far. In fact, things are going so well that rival firms are starting to take notice. You’re worried that they are going to try and move in on the market that you’ve managed to capture....
Should you make your spouse your business partner?
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...
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...