There are many reasons to bring on a business partner when starting a company. You may find someone who has skills that you don’t possess, for example, and you realize that working together can make the business stronger. The two of you may even decide to share...
Business Law
Policies and procedures every business should have
Running a business can be difficult, but it is important to remember that you can do things to make it easier. One of those things is creating and implementing policies and procedures. Many business owners don't think about this until they are in the middle of a...
Do you owe your business’s debts?
Your business has to take on a certain amount of debt just to get off the ground. Say that you run a restaurant where you need to buy appliances and other such assets. You also have to rent a space, you may need to hire employees and buy inventory or products. It all...
Why do merger and acquisition transactions end up in litigation?
Merger and acquisition transactions are legally complex. Disputes among the parties involved can open a legal can of worms, and what’s more, they can occur at any stage of the process, even after everything has been finalized. As a buyer or seller in such a...
Is your business partner right for you?
Starting a business is a big step when investing in your future, that’s why you want to take every right step along your journey. People often find that their journey can be eased by having a business partner by their side to provide unique skills and cut down on...
Is it time to scale up your small business?
You started your business a few years ago as a side project. Gradually, you’ve been able to make a full-time living from the proceeds. Orders are constantly flying in and you’ve even recruited a small number of team members. The success of your business has been...
Is it time to alter your business structure?
While changing your business structure can be complex, sometimes it is necessary to stay on the side of the law and protect the time and money you invested in building the company. Many first-time entrepreneurs start with a sole partnership. They are relatively quick,...
Should prenups and postnups be required for business partners?
You’re starting a new business with your best buddy. You’ve done all the research, bought your website, designed a logo and crafted a stellar business model and plan that got you financed. Now, you have to do one more thing: Make sure that your partnership agreement...
Changing your business structure when you end a partnership
When you decided to start a company with someone else, forming a partnership made perfect sense. The two of you had protection through mutual ownership and influence over the company's direction. However, relationships and business markets change, and businesses...
Can you choose a business name that is in use?
You come up with the perfect name for your new business. You know that it's going to help with your branding, it describes your mission very well and you get your business partner to sign off on it. Then you do a quick search to see if that business already exists,...