You spend a significant part of your life building your business, and it becomes a major part of your legacy. But when you die, everything you have built could fall apart if you have not taken the time to create a business succession plan. Without a plan in place,...
Business Law
Could Federal Rule Ban Noncompete Agreements?
Numerous tools protect proprietary information, from contractual agreements to sophisticated security programs. However, not all tools are suitable for every business. And in some cases, the law could restrict the use of specific solutions. Such could be the case if...
Considerations for Starting a Business Post-COVID-19
Whether you are starting a business or restarting a business, doing so in a post-COVID-19 world can come with some unique and complicated challenges. In this environment, business owners may want to consider some ways to adapt their operations as the world opens back...
5 Advantages for Establishing Your Business as an LLC
When you are an entrepreneur, you are inspired by your dream – your dream to establish your own business and see it flourish. You face a lot of challenges as you work toward that goal and learn a lot along the way. At some point, you will have to decide what business...
The Right Business Partner Can Make or Break a Company
You have a broad vision for your yet-to-launch company. You have a mind for top-notch quality products, your targeted markets, and ideas about growth and expansion. But do you know what makes a great business partner? Your selection could lead you toward success or...
Agree to Disagree: Dispute Resolution Methods in a Contract
One of the most common and important components in a commercial contract is guidance on how the parties will resolve any disputes that arise throughout the life of the agreement. Dispute resolution clauses can provide valuable direction in a difficult situation, but...
Tips for Business Succession Planning
Over the last year, every business owner has faced unprecedented challenges, from temporary closures to complying with new health and safety guidelines. In this environment, we are all reminded that there are no guarantees when it comes to running a business. Because...
3 Mistakes to Avoid When Drafting a Noncompete Agreement
Protecting information valuable to your business is critical for any enterprise. And there are several ways you can do this as a business owner, including drafting contracts with partners and employees. One type of agreement you might consider is a noncompete...
Despite challenges, U.S. business applications surge
According to a new report from the U.S. Census Bureau, new businesses are forming at the fastest rate in a decade. Business applications soared by over 1.5 million in the third quarter, a 77% increase over the second quarter of 2020. Despite the devastating impact of...
What’s Your Exit Strategy?
When you start a family business, you need to consider what will happen when you no longer can or want to run it. In other words, you should think about your exit strategy. It might seem unnecessary to think about leaving a business you have just started (or have yet...