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Are your LLC Interests Actually Securities?
Securities law is a complex minefield that terrifies even the most seasoned lawyers. As a small business owner, it is your responsibility to make sure you’re complying with all the securities laws, both federal and state, that may apply to your business. Most people think that only corporate stock qualifies
4 Social Media Mistakes that May Put Your Company’s IP at Risk
Being active on social media is hardly a choice anymore for small to medium-sized businesses—it’s a given. Your customers are there. Connecting with your target audience on the social web can boost your brand and level the playing field between you and big competitors with larger advertising budgets. But before
What Is The Difference Between an LLC and an LLP?
If you are starting a new business, the business entity you set up will affect the extent of personal liability, how the business is taxed, its management, the level of formality required, and many other factors. There are a lot of options, which can make this decision overwhelming. Limited liability
Dealing with Negative Online Reviews of Your Business
You’ve worked hard to build your small business. Nothing is more frustrating than negative online reviews, particularly if you feel they are unjustified or have been posted in bad faith. You can take several steps to prevent your business’s reputation from being damaged by unfavorable reviews. Respond promptly and professionally
5 Key Benefits of a Well-Written Job Description
Although the main purpose of a job description is to, well, describe a job – it actually serves a bigger role. A job description can improve a company’s ability to manage employees. A well-written job description will: 1. Clarify expectations. Employers must spell out their expectations of what an employee
The Employee Handbook: The Holy Grail of Your Business
Employee handbooks address the who, what, where, why, and how of your business operations. Your employee handbook will protect you and your business by setting expectations and providing consistency for your employees when situations arise. What Information Should an EmployeeHandbook Include? https://www.youtube.com/watch?v=YAmb1l1pEL4 Ideally, employee handbooks address anything significant related to
LLC Members: What You Need to Know about Your Fiduciary Duties
As a member of an LLC, you may owe a fiduciary duty to the company. The two key fiduciary duties are the duty of loyalty and the duty of care. Whether you have a fiduciary duty will depend on the LLC’s management structure and whether you have management responsibilities. Understanding
Making an S Corporation Election as a Married Business Owner
If you’re a married business owner and you want your business to be taxed as an S corporation, there are several things you need to know. The difference between community property and co-ownership of an asset Let’s take the example of owning a car. If you and your spouse are
LLC Operating Agreement: Is a Non-Compete Clause Necessary?
You and several friends start a new business and operate it as a limited liability company (LLC). Now that you’ve completed the first step—choosing a business entity—it is essential to prepare an operating agreement. The operating agreement is a contract that governs the operations of the LLC and sets forth
LLC Management: Who Should Run the Shop?
Determining who will manage the day-to-day affairs of your business is an important decision. You need to know, at the outset, who will manage operations, both for the success of your business and because the Limited Liability Company (LLC) operating agreement demands it. LLC operating agreements are very flexible, and
Transferring LLC Membership Interests Part 3—Involuntary Transfers
An involuntary transfer of an LLC membership interest is just that—a transfer prompted by a creditor action or a triggering event outside of the member’s control. An individual or entity obtaining a membership interest because of an involuntary transfer usually cannot fully step into the shoes of the transferring member. This
Don’t Let Change Wreck Your Business: The Buy-Sell Agreement
Divorce. An unexpected death, disability, or retirement. An irreconcilable dispute. These triggering events may put your successful, stable business into a tailspin. Luckily, a buy-sell agreement can help you and your business be better prepared to handle these events. What is a Buy-Sell Agreement? A buy-sell agreement is a legally