Business Law

How do you fund a buy-sell agreement?

Buy-sell agreements are contracts behind business partners that spell out how a partner’s share in the company will be obtained by the remaining partners when the partner in question dies or otherwise departs. But a buy-sell agreement doesn’t do much without a plan to fund it. Funding a buy-sell agreement involves securing the necessary money to facilitate … Read more

What does every vendor contract need?

There are several important elements that every vendor contract should include to ensure that all the parties involved understand their obligations. Clarity of language and intent also make the contract more easily enforceable if there’s a problem. Knowing some of the basics that a contract with a vendor should cover can help you better protect your business … Read more

What’s a Buy-Sell Agreement, and Does Your Business Need One?

When you’re in business for yourself, there are a lot of different possibilities you have to consider – including the fact that you or one of your business partners may one day decide to move on to something else, retire or pass away. A buy-sell agreement is one way you can plan ahead for these kinds … Read more

What should your business plan include?

It is more common than some people realize for entrepreneurs to start a company without ever writing out a business plan. Such entrepreneurs may consider themselves flexible and claim that they want to adapt their practices to real-time feedback. However, a lack of a business plan can put them at a disadvantage when communicating with … Read more

Common Business Succession Planning Mistakes

Business succession planning is incredibly important for the future of a business. If you own a family business, it may also be quite important for your family’s financial outlook, as you may view the business at least partly as something that you have built specifically for them. You may want to pass the company down … Read more

3 Ways a Judge Can Resolve a Business Contract Dispute

As a small business owner or someone running an organization, you likely take great care when negotiating your contracts. You may even customize every contract you sign to optimize your organization’s protection. Unfortunately, there is never any guarantee that the other party to the contract will follow through on their obligations to this. Individuals may … Read more

4 Common Mistakes Made When Drafting Business Contracts

Your business contracts make a huge difference to your operations. Unfortunately, you may take for granted that a written agreement will protect you from a breach of contract or other forms of misconduct. Business owners and other professionals sometimes learn the hard way that not everyone respects contracts and upholds them the way that they … Read more

Starting the Succession Planning Process for Your Business

What happens to you your business if you become disabled? Voluntarily retire? Have you set up a means of deriving the value of your business for yourself or your family members? If you have not addressed these issues, you need “Succession Planning” and now is the time to get started with it. Whether you leave … Read more

3 Common Tax Issues for Small Businesses

Small businesses have a lot to consider as they work to bring in profits and stay viable. Many small business owners know that there are different tax obligations that they may face depending on various factors such as whether they have employees, how the company is organized, and whether they are selling goods or services … Read more

Why Your Business Plan Matters

One of the first things to do when you’re starting a new business is to create a business plan. You want to do this if you’re launching the company yourself or if you’re starting a partnership. Creating a comprehensive plan at the beginning drastically increases the odds that your business will be successful. Let’s explore … Read more

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