When you hire employees, you take on a host of legal obligations. You need to make sure you comply with all of the requirements imposed on employers so you do not face legal consequences. You also need to make sure your employees do not jeopardize your business interests.
Read MoreThe Small Business Administration explains that: “An employee handbook is an important communication tool between you and your employees. A well-written handbook sets forth your expectations for your employees, and describes what they can expect from your company. It also should describe your legal obligations as an employer, and your employees' rights”
Read MoreThe decisions which you make initially as you organize your company and open its doors can affect both your company's long-term future and your personal financial security. Getting the proper advice can save you hassle, heartache, and financial devastation in the future, so you should be sure to reach out to an attorney right away.
Read MoreA 1031 exchange, or like-kind exchange as it is also called, can make it possible for you to defer capital gains taxes on profits from selling a business property or an investment property. The Internal Revenue Service provides extensive details on the rules of a 1031 exchange, which you must be aware of if you are considering selling a property and hoping to do a 1031 exchange to avoid paying capital gains taxes.
Read MoreWhile both C-corps and S-corps can allow you protection from liability, the other advantages provided by each corporate structure can differ. For example, if you plan to run a small family company and tax flexibility is your primary goal, an S-corp may be a better solution. If, on the other hand, you hope to grow your organization very large and want different types of owners to be able to have an ownership stake, then a C-corp may be a better bet under the circumstances.
Read MoreThere are a few primary ways that a business could be taxed on profits. One possible option is that your company could have to pay taxes on its profits. This is the taxation method for C-corporations. The problem with this method of taxation is that it could end up with company profits being taxed twice. The company may have to pay taxes, and the owners of shares of the company could also be forced to pay taxes as well. This can cost you a lot of money, especially if you have a closely held corporation.
Read MoreWhen you are financing a business venture, you need to consider possible risk that you are taking on through the method of financing that you choose. If you operate as a sole proprietorship or as a partnership, you are going to be personally responsible for all of the debts that the business takes on. This means that if the company goes into debt, you go into debt. If the company goes bankrupt, you will also go bankrupt and your personal assets will be at substantial risk.
Read MoreOne of the issues that can come up when a breach of contract accusation is made or when parties disagree on contract terms is how to interpret a contract and what the agreement terms are. This is especially important if there are any type of ambiguities or irregularities and the parties disagree on what the terms of the agreement mean. There are rules of contract interpretation that apply in these circumstances, including a rule called the parole evidence rule.
Read MoreA contract creates private law, and the parties to the agreement must abide by all of its terms. You are legally obligated to fulfill the provisions of a contract, just as you are obliged to obey any law which is passed by the government. If you fail to fulfill your obligations, the other party to the contract can use the court system to obtain a legal remedy, including compensation for damages.
Read MoreUnfortunately, shareholder disputes can arise frequently in closely held companies, as well as in larger organizations. When a dispute arises, the future success of the organization could be affected because the disagreement could hurt the company's brand, make it impossible for co-owners to work together, and result in a delay in the making of important decisions.
Read MoreGoing to court should generally be a last resort when a partnership dispute arises, and/or should be reserved for cases where an agreement cannot be reached in any other way. Going to court could also become necessary if your partner has committed an egregious violation, such as breach of fiduciary duty or suspected fraud or embezzlement.
Read MoreThere are many different laws that regulate the process of doing business. For example, antitrust laws could control your ability to merge with competitors or to engage in behaviors which are defined as unfair competition that interferes with markets.
Read MoreIt is common for partners and shareholders in closely held companies to experience disagreements. While these disagreements can sometimes be healthy by encouraging creative solutions, they can also be destructive if partners or shareholders cannot agree on what is best for a business and cannot continue to work productively together to advance the company’s interests.
Read MoreA business litigation attorney provides assistance in situations where your company must sue someone to protect your rights, and in situations where a lawsuit is filed against your company. Our legal team knows the civil litigation system and is adept at providing representation to clients that facilitates a timely and effective resolution of business litigation.
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