Transitions in business are prompted by retirement, sudden illness, incapacity, death, or other major life events. Failure to plan for the inevitable transitions of life puts a business’s survival at risk. By carefully crafting your business succession plan, you can facilitate the proper preparation needed for a smooth transition in the company.
Employment agreements are essential to protect your business and your employees. These agreements create legal obligations and represent the contractual relationships between employers and employees.
An interest in an MLM or franchise business may not automatically transfer to your beneficiaries, even if you include it in your will or trust. Further, if it is permitted to be transferred, it may be forfeited if your beneficiaries fail to meet certain contractual requirements. This is because the transfer of those interests is governed by the terms of the agreement you entered into with the franchisor or MLM company.
A skilled attorney is a critical part of any business owner’s advisory team. Business attorneys are equipped to assist you in handling a variety of tasks that can protect you from potential legal and business pitfalls, in addition to solving existing legal issues. As important as they are to your team, finding the right business attorney may be challenging if you do not know what to look for.
Limited liability companies (LLCs) are one of the most popular types of business entities. The LLC’s flexible taxation options are one reason it is preferred; LLC members can, for the most part, choose how they would like to be taxed.
In today’s data-driven world, small businesses often find themselves in possession of sensitive customer data. Here are a few ways you can protect the customer data your business collects.
Internships can be beneficial to both you as a business owner and the intern. Interns can receive hands-on training in their field of interest while assisting your company in reaching its goals. However, it is important to keep in mind the various legal considerations and requirements associated with this specific type of hire.