As a business owner, are you starting to think about what’s going to happen to your company after you leave? Maybe you’re getting ready to retire. Maybe you’re making your estate plan and thinking about how you want to distribute assets. Your business is a major...
Business-Employment
Key questions to ask when starting a business
You’ve always wanted to start a business. It’s definitely exciting as you move close to this goal. However, it’s important not to get ahead of yourself. You don’t want to overlook key steps or make mistakes that could hold the business back. Gathering information...
Patents, trademarks and copyrights: What’s the difference?
Intellectual property (IP) is an essential aspect of any business in the modern era, and it's crucial to understand the different types of IP protections available. You’ve probably heard of three of the most common forms of IP protection – patents, trademarks and...
Which roles at an organization require succession planning?
An organization is only as successful as the leadership that drives it and the workers who provide daily labor. Major changes in the executive talent at an organization can have devastating consequences for the company's stability. Someone in a leadership role making...
How contracts protect your company when hiring workers
Every new staff member that you hire can substantially increase your company's operational abilities. However, the more workers you have, the greater the possibility of a conflict, a lawsuit or some other issues affecting your business's operations or profit margin. A...
Commingling personal and business assets is a common mistake
Businesses often start small and then grow according to how quickly they succeed. Although there are those who find investors before they ever start their businesses, many entrepreneurs are their own primary supporters. They know their idea has merit, so they do what...
What is a business plan?
Are you starting your first business? Then you likely have tons of questions. How can you make a profit? Who are you advertising your business to? Will your business survive a drastically changing economy? Before you start anywhere, you need to lay out a foundation to...
The problem with ignoring another company’s contract breach
Maybe you hired another business to provide a service, such as handling a remodeling project at your offices. The date for the work to start came and went, and you never heard from the business. Eventually, you reached out to them to address their failure to show up,...
How can you buy out your business partner without a fight?
The beginning of a business partnership is a lot like the honeymoon phase in a marriage. Both of you may have big dreams for the company you started together and may see the best in one another. After years of running the company jointly, you likely have a more...
3 important inclusions to create stronger business contracts
From the first days that you start doing business, you may need to negotiate contracts with other parties. Landlords, suppliers and employees typically all require contracts when you start a professional relationship with them. Ensuring that you include the right...