contract

contract

Wednesday, March 30, 2016

LLC vs. Corporation

A question that I get frequently from startups is "should we form a corporation or an LLC"?  Here is a good summary of the pros and cons of each. 

Friday, March 25, 2016

10 Big Legal Mistakes Made By Startups

I recommend reading this article if you are a small business owner with partners.  Excerpt on tip #1. 
You absolutely have to agree with your co-founders early on what the deal is among you. Not doing so can cause enormous problems later (see, for example, the Zuckerberg/Winklevoss Facebook litigation). . .
 

Tuesday, March 22, 2016

Tips for successful debt collection for small business

Excerpt.
A major challenge for every business owner is the arduous task of collecting past due account receivables.  All too often, bill goes unpaid and a business owner is forced to take action to collect payment.  Along with the business choices involved in deciding when to chase down an unpaid debt, there are important legal considerations to keep in mind.
The whole article is worth reading.

Wednesday, March 9, 2016

The importance of a founders' agreement for a startup

Excerpt
While there is no agreement over exactly how, there is widespread agreement over the value of forming some sort of agreement among company founders — sooner rather than later in the life of the company.
The power of these sorts of agreements may be as much a function of the conversations that are had in order to put these conclusions into place as it is a function of the formal agreement/document itself.  The goal of the conversation/agreement is to have an open and honest discussion of the attitudes, fears, and aspirations of, as well as the arrangements among the individuals involved with the startup in the hopes of minimizing the likelihood of debilitating surprises later in the life of the company.
Click the link to read it all.  

Tuesday, March 1, 2016

Every small business should have an outside general counsel

Do You Really Need a Business Attorney? Yes, and Here Are 3 Reasons Why.  Excerpt--
While it’s smart to hire an attorney when you’re facing a serious legal risk, it’s even smarter to hire one before the risk arises in the first place. In other words, you need access to an attorney at all times–not just when you find your business in hot water.
Link to full article.