Many businesses thrive because owners sought out a partnership. Are you considering a business partnership? You shouldn’t rush into a partnership with the first person who’s willing to work with you. You may need to think about the following: 1. Why are you forming a...
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Business Formation
What sort of legal risks do new businesses face?
When forming a new business, you have decisions to make and risks to evaluate. Many entrepreneurs tend to focus on financial risks, but those are not the only hazards that might threaten your operations. Legal risks are present from the formation of a business...
Can you change your business structure after formation?
You probably thought carefully before selecting the current legal structure of your company. Your chosen entity may continue to meet your needs, but that doesn’t mean a change in business structure cannot improve things. Fortunately, business structures are not etched...
When can 2 businesses have a similar name?
Generally speaking, when coming up with a name for a new business, it does need to be unique. This can sometimes become a challenge, especially when the name of the business is something rather generic or common. However, this does not mean that two businesses always...
3 crucial decisions to make during business formation
Decision-making is one of the vital skills business owners need. To take your business to the next level and manage it competently, you need to make the right choices in all stages, including during formation. The steps you take during the first stages can affect your...
S Corporation vs. C Corporation: The differences
When choosing between an S corp and a C corp, it helps to understand the differences before making the call. That way, you will make an informed decision that is aligned with your business objectives. The major difference between the two types of corporations that...
How non-disclosure agreements protect companies
Employees can do a lot of damage to the company that hired them if they perform their jobs improperly or take certain actions after leaving the organization. Employers often have to carefully protect themselves by adding certain restrictive terms to their employment...
The differences between a partnership and a limited partnership
When you’re in the process of setting up a new small business, it can be difficult to know what type of entity to choose. Where there are two or more of you running the business, the often obvious choice is to set up a partnership. If you’ve been considering setting...
3 benefits of a limited liability company
People who are staring a new business need to decide what structure they’re going to use. While some small businesses default to a sole proprietorship, this might not be their best option. Many businesses are better suited for the limited liability company (LLC)...
What restrictions can you include in a non-compete agreement?
One way that you may decide to protect your business is by having your employees sign non-compete agreements. You can do this when they first start with the business, or you may ask existing employees to sign one after the fact. A non-compete agreement is supposed to...
