In any business venture, compliance with applicable laws and regulations is essential. These vary significantly depending on your industry and the jurisdiction in which you operate. In some cases, you may be subject to licensing and permitting requirements on the federal, state, and municipal levels. While many entrepreneurs are understandably…
Breaking away from the rest and forming your own business is a dream for many people. Business entrepreneurship can be a risky but rewarding venture, and it’s possible to achieve great success in your new company. Although running a business takes a lot of hard work and has challenges, you…
Forming a corporation may seem like a lot of work but the process isn’t too difficult. In this blog post we’ll walk you through some important steps to incorporate in California. Every state is different so make sure to check with the Secretary of State’s Office in your area before…
A merger or acquisition can be a great way to grow your business. Joining forces or purchasing another company increases your market share and potential profits. There’s no real way to know if the venture will pay off. However, the proper due diligence can provide reassurance that the move you’re…
Any business with multiple owners should have a buy-sell agreement. A buy-sell agreement, provides order and clarity should anything happen to one of the owners. In this post we’ll take a look at buy-sell agreements, how they work and what to include. Understanding an Agreement Let’s say you and some…
One of the first things any newly formed corporation should do is draft bylaws. Bylaws are a corporation’s operational blueprint. They identify what the business does, how it is run and who is in charge. Here then are five steps to drafting a set of bylaws. 5 Steps to Creating…
A strategic alliance is a fairly simple concept. Two companies with similar interests join forces to produce favorable outcomes for all involved. An everyday example is the Starbucks inside of Barnes and Noble bookstores. This move helped Starbucks expand, but it also kept people in the bookstore, perhaps reading the…
With any luck, you or your business will never end up the subject of a lawsuit. Since this isn’t a perfect world, it’s best to start thinking about what to do if the unforeseen happens. Like most things, business litigation is an involved issue. We can’t go through the entire…
Converting a limited liability company to a corporation is a relatively easy process. Before I take you through the steps, let’s take a quick look at the differences between the two types of business structures. 3 Differences Between Limited Liability Companies and Corporations 1. LLCs are formed by one or…
Limited liability companies combine parts of both corporations and partnerships. Because they’re a hybrid, LLC’s can be more difficult to setup. One part of this process involves choosing a management structure to fit your specific LLC. Single Member or Multiple Member LLC The difference here is implied in the name.…