Business Formation & Planning

Successful business partnerships may last for decades. Both partners may benefit financially and professionally from the connections and skills of the other. Those starting new businesses with partners often think about success and how to protect the company. They may...

Contracts are crucial in business. They set clear expectations for the parties involved, provide legal protection, prevent disputes and manage risks. However, the effectiveness of an agreement can be significantly threatened by ambiguous language.  Ambiguity is a...

A lot of people who start a business do so alone, or they may start it with a very small number of others. That can be a great way to begin because it helps keep overhead costs like wages low, leaving more money to be spent on growing the company. When things are...

Many people choose to start their business alone. However, a business partnership often significantly increases the success and stability of a start-up's operations. When deciding whether or not to start a business with a partner, it can help to consider the benefits...

Unfortunately, most startups focus on goals like product, funding rounds and survival. Rarely does long-term stability enter the conversation. Many companies fall apart because no one prepared for leadership shifts, partner exits or sudden gaps in decision-making. ...

Markets evolve, technologies advance and consumer preferences shift. All this can impact the foundation on which a business partnership was originally built. What once seemed like a perfectly balanced agreement can, over time, become outdated or even restrictive....

The business formation process can be relatively lengthy. It involves not just the submission of paperwork to the state to create a legal business entity but also careful planning. Entrepreneurs have to learn about licensing and insurance. They need to plan for the...

We recently discussed how, if you are starting a business partnership, you should use a partnership agreement. This can help you avoid disputes and conflicts. It also protects your rights as a business owner and can help to define your role at the company. But before...

A person who’s starting a business will have to determine what type of business structure they plan to use. This decision directly impacts various aspects of the company’s operations, so it’s critical that they fully understand their chosen option.  For a new small...

An employee handbook is a document that outlines company policies, expectations and workplace rules. It serves as a guide for employees and helps businesses operate efficiently.  Many employers overlook the importance of having one, but a well-crafted handbook can...