For the love of your business
For the love of your business
Whether you are just starting a new business or have been running a business for years, there are four common legal mistakes that both novice and seasoned entrepreneurs make that can have a significant impact on the future viability of your company: Co-mingling of business and personal finances. You may have started your business as […]
Read MoreBusiness owners who take out loans for equipment, property or working capital need to understand how liens can affect their business in terms of the potential problems they can cause and what should be avoided. Lenders usually file liens on business loans; these liens are filed in succession and a lender always wants to be […]
Read MoreA New York Times article lists the top rookie mistakes entrepreneurs often make when starting a business, and with our years of experience in helping entrepreneurs capitalize on new business opportunities, many of them ring true. Here’s the list: Hiring a good friend or family member. When it comes to hiring staff for your new […]
Read MoreTwo recent U.S. Supreme Court decisions came down firmly on the side of businesses beleaguered by patent troll litigation, making it easier for those businesses to recoup legal fees for frivolous suits and establishing new review rules for the Federal Court of Appeals. In its unanimous decision in Octane Fitness, LLC v. Icon Health & […]
Read MoreSetting up your business as a corporation or a limited liability company (LLC) is a great way to go for most entrepreneurs, since incorporating protects personal assets from business liabilities, helps lower taxes and ensures the longevity of your business. However, as a recent article at Entrepreneur.com reminds us, there are six situations where a […]
Read MoreA recent Wall Street Journal survey on how small business owners are coping with the new healthcare law found that almost a third of those surveyed (29%) have been forced to make staff cuts. Unstable market conditions and economic pressures can force a business to dismiss or lay off employees, and employers should be aware […]
Read MoreBecause of increasing regulatory scrutiny of privacy laws, employers should take extra care in safeguarding personnel files and medical records as you would any other confidential company information. Employers should keep personnel files stored securely in a locked cabinet, and make them available only to managers or supervisors who have a legitimate business reason to […]
Read MoreThere are currently 13 states with laws governing an employer’s access to employees’ personal social media accounts, and 20 other states have similar legislation pending. According to recent research, 73% of American adult Internet users also use social media, so it is probably a good bet that most of your employees are on social media. […]
Read MoreRetail giant Target suffered a massive data breach last December that eroded its reputation and its bottom line. How did this happen? Apparently, hackers gained access to Target’s IT infrastructure via a third-party HVAC contractor that was connected to their network. This security disaster illustrates the risk that many businesses face when contracting with third […]
Read MoreWhen your company enters into a contract with another entity or person, both parties are expected to fulfill the contract terms. However, there are some situations where a contract can be found to be legally unenforceable because of these reasons: Lack of capacity – if one of the parties lacks the ability to understand what […]
Read MoreThe IRS and State Governments have both stepped up their enforcement action against business owners who misclassify employees as independent contractors. One friend of ours was just fined $150,000 for Worker’s Comp Fraud stemming from a misclassification of employees as Independent Contractors. Knowing this, it is imperative for you to know the difference when it […]
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