You don’t need to worry about construction defect claims when you provide high-quality work. That is a motto many contractors believe in, but allegations of defects can arise despite your excellent work ethic. Subcontractors or other tradespeople could cause a defect,...
There’s some confusion about just what a “silent partner” in a business is. Sometimes people assume it’s someone whose involvement in a business is secret, either out of concern for their or the company’s reputation. Others assume it’s someone who just provides money...
You’ve been running a small company for a few years now and it’s going well. In fact, it’s going so well that others are really beginning to take notice. You’re concerned that larger rivals are going to try and take your spot in the market. You have a reliable...
Perhaps you’ve recently launched a startup and it’s going well so far? Maybe you’ve been in business for a while now and are looking to expand? In any case, one option that might jump out at you is to enlist the assistance of a new business partner. Bringing in the...
When you set up your business structure initially, you likely think it’s the best option for your current situation and goals. However, as time passes, things may change. At some point, you may decide that it’s time to change the structure. Some of the reasons you...
Running a business is about so much more than the product you sell or the services you provide. A lack of expertise in areas such as marketing or sales could hinder your ability to grow, but a lack of knowledge in legal matters could see your company shut down or...
You cannot run your company forever, and even if you could, you might not want to. Hence, unless you are happy for your company to stop when you stop, you need to put a succession plan in place so that someone else can take over. There are several advantages to this:...
You’ve been invited to put in a bid for your construction company to build a new resort in Arizona. Following two years of sparse opportunities, you are excited about this project. However, after meeting with the potential client and submitting your bid, you have a...
If you lie awake at night fantasizing how making some strategic investments can bring you a steady stream of passive income, the idea of commercial real estate investment likely crossed your mind. But before you jump in feet first, take a breather. Below are four...
The Miller Act is a federal law that dates back to 1935. It requires contractors to obtain performance and payment bonds before being awarded a contract to work on a public project. The bonds ensure that subcontractors and suppliers will be paid even if the contractor...