For the love of your business
For the love of your business
Many business owners structure their business as a limited liability company (LLC) because like corporations, LLCs offer personal liability protection for their owners. But unlike corporations, LLCs are not required to adhere to many of the same burdensome corporate formalities required of corporations. Since LLCs offer the liability protection of a corporation, without all of […]
Read MoreRunning a business is a huge responsibility, so putting a lot of thought and effort into your legal agreements is likely pretty low on your list of priorities. But giving short shrift to your agreements can cost you big time—and in more ways than one. In order to save time and money, you may be […]
Read MoreIf you must work in order to earn your income, you need to have disability insurance. That said, purchasing such insurance is a “buyer beware” situation. This is because when it comes to most disability insurance policies, you must be aware of the numerous pitfalls that come with acquiring coverage that will really work for […]
Read MoreQ & A: QUESTION ______________________________________________________________________________ Q: How can I safeguard my company’s intellectual property when working with independent contractors? —Busy Boss ANSWER ______________________________________________________________________________ A: Dear Busy: Unlike employees, with whom you generally own automatic copyrights to everything they produce while working for you, independent contractors (ICs) typically retain full copyrights to […]
Read MoreSetting up the right legal structure for your business may seem like a boring detail that you don’t need to spend much time on. But, in reality, selecting the right entity for your company is one of the most critical decisions you can make as a business owner. That said, there are all sorts of […]
Read MoreWhile you may think of your team as family and believe that they would never sue you, lawsuits filed by employees are actually one of the most common causes of litigation for small businesses. In fact, nearly one in every five small businesses will get sued by an employee at some point. = Of all […]
Read MorePutting in place the right types and amounts of business insurance is a key part of your company’s LIFT risk-mitigation and asset-protection foundation. However, like other foundational business systems, if your business insurance isn’t regularly reviewed and updated as your operation grows, your coverage can prove inadequate, putting your business at serious risk in the […]
Read MoreUsing independent contractors (ICs) can give your company an edge in today’s thriving gig economy, but if you are not careful, contractors can also be a serious liability. In fact, working with ICs comes with a number of unique legal and financial risks that can be potentially ruinous to your business if not handled properly. […]
Read MoreQ & A: QUESTION ______________________________________________________________________________ Q: How does a “buy-sell” agreement work? —Curious CFO ANSWER ______________________________________________________________________________ A: Dear Curious: If you share ownership of your business with one or more other people, a buy-sell agreement ensures that upon certain conditions—such as your death or permanent incapacity—the other owners are able to […]
Read MoreWhen you run your own business, oftentimes one of the most confusing aspects of the job, especially if you are new to the experience, is understanding how to separate yourself from your business. And this issue can show up in so many ways, from achieving a work/life balance and managing your time to how you […]
Read MoreIf you dream of one day leaving your company to your family, but you haven’t properly included your business in your estate plan, that dream could become a nightmare for your heirs—and for your partners, team members, and clients, too. In fact, properly planning for what would happen to your business upon your death or […]
Read More
