State laws govern formation of a limited liability company (LLC). Differences from state to state relate mostly to filing requirements. If you’re thinking about forming an LLC for your new business, the structure and advantages are basically the same across all jurisdictions. An LLC is well-suited to smaller businesses, but you can form one for almost any business endeavor other than banking or insurance.
Using subcontractors can get your small business out of a jam when you have more work than you can handle. If you don’t want to add additional employees who will linger on your payroll long after the end of a temporary surge, you can assign a portion of your work to another business or to an individual. Subcontracting involves hiring someone else to perform work your business has contracted to do.
You’ve come up with a great idea for a new, original invention. How do you make sure someone else doesn’t steal your idea and capture the market? You get a patent.
Some employers require periodic meetings with their workers to discuss how well they’re doing their jobs or problems they may be having. Performance reviews can be productive, but problems can creep up when they’re not done properly. Employers should also make sure they’re kept confidential.
Drafting contracts is one of the pleasures of practicing law. But if your contract ends up in court, your handiwork will surely be tested by your opponent’s skilled lawyers attacking every paragraph, sentence and word. This article provides fifty simple tips for writing the contract that is so clear that no one will want to litigate it.
These tips apply to writing all kinds of agreements: real estate sales contracts, employment contracts, equipment leases, prenuptial agreements, property settlement agreements. They even apply to stipulations and settlements in litigation. Wherever clarity and simplicity are important, these tips will guide you there.
In the United States, employers have a great deal of freedom to lay off employees. Nevertheless, laying off employees is regulated by law. Employers that do not follow those rules in a clear, unbiased layoff policy run the risk of lawsuits.
Commercial real estate transactions are typically more complex than residential transactions. Usually, they involve large sums of money and increased liability for both parties. Unlike a residential transaction where the law provides basic consumer protection for the buyer, the law takes a neutral approach to its treatment of commercial transactions.
Courts expect that both parties to commercial real estate transactions are sophisticated enough to understand the contract terms. Therefore, they will hold the parties to the terms of any sales agreement – absent illegality or fraud. For these reasons and others, a buyer and seller of commercial real estate should both have professional help closing the deal.
Intellectual property isn’t tangible. Although it’s not typically something that you can hold in your hands, it belongs to your business just the same. It’s as real as any piece of equipment. A variety of laws protect it against theft by other businesses or individuals.
Good financial planning requires that you make smart decisions about your finances. For some couples, this means reaching a financial agreement about your assets, debts and other marital obligations. A prenuptial agreement occurs prior to a marriage. A postnuptial agreement is entered into after the marriage has taken place. In either case, both spouses determine the contents of the agreement.
Succession planning involves anticipating how you’ll turn your business over to someone else when you retire. A good succession plan will also anticipate what should happen if you die unexpectedly or if you suffer an injury or illness that prevents you from running your operation. How you go about succession planning depends on whether your business is family-run or if you have partners.