A business partnership agreement is a contractual agreement that people can use when starting a company together. It is a step that some partners are tempted to skip, often because they are on good terms and trust each other, so writing a contract does not seem all...
Corporate governance refers to the system of rules, policies and practices that direct and control a business. It defines the roles and responsibilities of a company’s leadership, including its board of directors, executives, shareholders and other stakeholders....
You’re a small business owner, and your company manufactures consumer goods. You don’t make the parts and materials yourself, however. Your company is just in charge of the manufacturing side of the operation, and you have parts suppliers that deliver the materials...
Starting a business with someone can be thrilling and tremendously rewarding – but what starts out as a dream can quickly turn into a nightmare. Your partnership may start out with good intentions and a shared set of goals, but things can turn south very fast. So,...
If you are thinking about forming a single-member or multi-member limited liability company (LLC), you’ll need to choose between corporate or pass-through taxation when structuring your business. Both options feature distinct advantages and potential drawbacks, each...
When two business partners start a company, it’s important for them to draft a partnership agreement. One area that this can address is the ownership percentages that they both hold. These could be based on how the business was founded, how much money they invested...
Contracts govern every aspect of businesses. Owners, employees and customers all have contractual rights and obligations. For the most part, this helps with efficiency and prevents disputes, but that isn’t always the case. Contracts can be breached in several ways....
As you start a business, you know that you would like to work with a business partner. Maybe you are aware that you’re lacking certain skills, so you are looking for someone who can help in those areas. Maybe you just feel that you would work better as part of a small...
If you go into business with one or more business partners, you have to remember their support comes at a cost – namely that of your freedom. You are now answerable to the others and cannot make decisions on a whim, so easily. It’s very unlikely you will agree on...
If you’re starting a new business, you may be considering different ways you can create stability for your workforce and protect your intellectual property. Naturally, this could lead you to the idea of noncompete agreements, which keep workers from leaving their jobs...