Most business owners are savvy enough to know that a contract is an enforceable agreement between two or more people or entities. However, you may or may not realize the fundamental elements of a valid contract. Understanding the basic components of a legally valid contract can be very helpful in conducting daily business activities so…
So you’ve decided to start a business. It’s a very exciting time, but fraught with many decisions. One of the first, which can impact everything from taxation to liability, is the choice of a business entity. Should you opt for a traditional sole proprietorship, a partnership, a corporation, or an alternate business entity? Today we…
Ride sharing companies like Uber and Lyft have been front and center in recent media stories and court decisions. All across the country, drivers have brought lawsuits arguing that they are employees of these companies, rather than independent contractors. If you own a business and think these stories have no relevance to you, think again….
According to the U.S. Small Business Association, small businesses create almost two of every three jobs in the U.S. every year, and half of working Americans are either owners or employees of a small business. Asset Protection Guidelines The SBA advises entrepreneurs to seek counsel while in the initial phases of getting a business off…
After a major class action settlement earlier this year, business owners may no longer think first about pizza when they hear the name “Chuck E. Cheese’s.” CEC Entertainment, the formal name of the pizza and entertainment chain, paid $1.75 million to settle a class action lawsuit challenging its use of background checks in hiring. What…
Have you ever slammed on the brakes of your car to avoid a crash? If so, odds are that you were using automated vehicle technology. Major auto manufacturers are racing to develop self-driving car capability, but will we see that technology soon? How will this cutting-edge technology affect you? What Is a Self-Driving Car? Let’s…
How Can Wearable Technology Affect Your Life? Recent headlines have been replete with data breach stories in the last few years. The number of companies and government agencies that have had their systems hacked is staggering. Names, addresses, Social Security numbers, credit card numbers, and other personal information have all been stolen by hackers from…
Investigating Your Employees No employer wants to conduct a workplace investigation. But investigating an employee may become necessary to limit the company’s liability exposure, comply with legal requirements, maintain discipline, or protect other employees. And if you have to conduct a workplace investigation, you may think it should be kept confidential. After all, how many…
One of the uncomfortable moments of life for many people is when they try to address automobile ownership and driving with their elderly family members. States have grappled with this issue over the years, considering driver’s tests for older drivers and other measures to promote driver safety. What Are The Risks of Senior Drivers? According…
As union membership continues to fall nationwide, the NLRB seems to be more closely monitoring company employment practices and policies. The Board is on the lookout for policies that could deter non-union employees from engaging in activities protected by Section 7 of the National Labor Relations Act. What is Section 7? Section 7 protects employee…
What’s the deal with Year- End Bonuses? This time of year, it’s a big question for all employers. Where do year-end bonuses for team members fit into the business? You may be facing a year-end cash slump or big expenses. Or, you may have a bunch of cash on hand and be facing a big…
One of the most valuable assets owned by a business is the concept or idea that sets them apart from their competitors. Whether it is a new product or a unique service, it can be worth a small fortune, especially if it meets a need that is not being met by anyone else. Thus, it…
A Successful Start to Your New Business Most entrepreneurs feel overwhelmed by all of the decisions that must be made when they are first starting a business. Many of the initial decisions you make can have long-lasting consequences and impact on your ability to grow, so you want to get it right! Below are a…
It is a common misconception that oral contracts are not enforceable. It is true that certain agreements must be in writing to be enforceable. For example, the statute of frauds requires agreements involving real property, marriage, performance over multiple years and the sale of goods over $500 to be in writing. If an oral agreement…
What to Know Business owners who take out loans for equipment, property or working capital need to understand how liens can affect their business in terms of the potential problems they can cause and what should be avoided. Lenders usually file liens on business loans; these liens are filed in succession and a lender always…
Legally Binding Contract Basics The Internet has changed the way businesses negotiate, review and revise their contracts. Sending emails back and forth can make the process faster and more convenient, but you should be aware that it can also lead to inadvertent liability. The use of electronic evidence or digital data has drastically increased in…
Benefits of an Operating LLC System Many business owners make the choice to operate as a limited liability company (LLC) for the personal liability protection this business entity provides. Beyond that, they may not give much thought to creating an LLC operating agreement since most states have LLC laws with default provisions that dictate how…
How to Avoid Legal Business Risks While there is no such thing as a business with no risk, most savvy business owners look for ways to mitigate risk as much as possible. Being aware of these three legal risks will create an understanding of the future of your business. Trusting a verbal or handshake agreement….
When To Hire a Personal Lawyer: Every business owner at one time or another needs legal advice. While it may be tempting to turn to the Internet for your legal needs, there are three important instances when you will want to have a lawyer on a payroll. Entity Formation When you are ready to start…
When you hear the name “Oprah,” you think of one person. Not only because the name itself is so unique, but also because billionaire entrepreneur and media mogul Oprah Winfrey has done such an outstanding job of protecting and promoting her brand. Oprah Winfrey’s Legal Strategies to Follow A recent article at Entrepreneur.com examined the…
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