When a great idea takes off, the true colors of the people involved often reveal themselves. Without an agreement in place detailing ownership of the business, dispute resolution, and other issues, an entrepreneur risks being left out in the cold. Ambiguity in the infancy of a startup company can cause significant issues later, just ask Mark Zuckerberg.
When someone spends many years building a successful business, the last thing they want is to see it fall apart. However, many business owners do not realize the importance of having a business succession plan.
Companies of all sizes have crucial decisions to make, including but not limited to raising funds, creating brand awareness, and marketing the product or service. As a result, sometimes legal issues are put off, or even totally lost in the shuffle, making the company's long-term performance less than rosy.
Crowdfunding can be an excellent resource for individuals and small businesses when they are just starting out because it allows them to raise funds quickly, from people across the country. These platforms have only increased in popularity because they can raise funds, brand awareness, and goodwill all at once. But not all crowdfunding platforms are suitable for every project.
Starting or running a business is a massive undertaking. Often, it proves to be too much work for one person to do alone. Finding a partner can therefore be crucial.
Naming a new business is one of the first things many business owners do. While it may seem like a simple (or even fun) exercise, choosing the wrong name could trigger litigation if your choice infringes upon another business's trademark.
There are numerous steps to opening a new business: from creating a business plan, to finding investors, to making your first sale. But opening the doors to your new office space is one particularly exciting and momentous step in the process.
Is 2019 the year you will start your own business? If so, one of the first things you need to consider is the type of business structure that best serves your purposes. The legal structure you choose will affect, among other things, your personal liability, your ability to raise money for your business, and the taxes you pay.
Making deals and reaching agreements are things every business owner should have experience doing. After all, these negotiations are often the foundation upon which businesses and relationships are built.