Businesses should be very cautious when revealing sensitive and confidential information to employees or outside parties. While everyone may say they will keep your information in confidence with a firm handshake and smile, they may not always honor their word. They may steal your trade secrets, ideas, and other sensitive data and manipulate them to make it appear that they were the originators of the idea, product or service. One way to protect yourself and…
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Whether it’s selling gadgets as simple as Fidget Spinners, or something much more complex, like creating the next grocery delivery service app, every business needs to be run efficiently and properly to make it through its first year. When running a business, issues such as taxes, liability, and insurance may arise. As the wheels start moving, one may ask: Should I continue my sole proprietorship, or form an LLC? Not every business starts with “a…
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As an employer, you may employ a significant number of employees to perform various jobs. These employees may range in background, age, sex, race, religions, and sexual orientation. It is important for an employer to know how to handle these differences and establish a positive work environment in order to avoid unnecessary conflict and other issues that could lead to potential litigation. In addition, an employer may need employment contracts in place to attract and…
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Crowdfunding is a fast-growing option for start-ups seeking to raise capital to fund their business ventures and ideas. As an entrepreneur considering this type of funding, you must be cognizant of the legal issues that can affect your company. While crowdfunding may seem like the way to get quick investment in your business, first review the tips we offer below to help you navigate the legal issues that may arise. Get Professional Help Whether you…
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Incorporating a business involves more than just filing the articles of incorporation with the state’s secretary of state. Failing to perform the necessary additional steps can create financial and legal problems. What follows are 5 essential steps in business incorporation: Choose Your Management Team The selection of a board of directors is a straightforward but essential task in a valid incorporation. Based on the type of corporation or state of incorporation, the number of directors,…
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Prior to launching your business, any limited liability company or corporation needs to pay California’s minimum franchise tax ($800) if using a California address as your company headquarters. A company that plans to have its base in, say, Oregon while registering to sell goods in California, may also need to pay the franchise tax fee, depending on various factors, including whether it leases space or hires employees in the state of California or if any…
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The JOBS (Jumpstart Our Business Startups) Act was passed in 2012 with the intention of making it easier for investors to fund small businesses. This legislation was largely seen as a victory for the small business community as well as for investors alike. The JOBS Act removed many SEC regulations regarding who could and could not invest in startups, in addition to when a business was required to go public. Before the passage of the…
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Tough negotiations are part and parcel when it comes to buying or selling a business. All involved parties will do whatever they can to protect their interests in the deal, and all parties are responsible for taking the necessary steps to protect themselves throughout the purchase and sale process. If you are entering negotiations to buy or sell a business and approaching the phase in which you need draft the terms for an actual letter…
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