Whether you’re going into business with your best friend, your parent, your sibling or just somebody you know, you need a contract – and a key feature of that contract should be a buy-sell agreement. A buy-sell agreement is basically a plan for handling various...
Business formation
Is an LLC the ideal structure for your new business?
Deciding on the ideal structure for a new business is a critical concern that can have long-lasting implications. One popular option for many entrepreneurs is forming a Limited Liability Company (LLC). An LLC can offer several advantages, but it's essential to...
When does a business partner have a fiduciary duty?
A partnership is a business formation owned and operated by two or more individuals or entities. It can come in the form of a general or limited partnership. A general partnership is the most basic form, where all partners share managerial responsibilities and...
Why cultural due diligence should not be ignored in M&A
Due to its intangible nature, businesses tend to forget about culture when dealing with mergers and acquisitions. It is more common for companies to prioritize quantifiable metrics and immediate gains. Unlike financial and operational aspects, culture is not something...
A common mistake entrepreneurs make when forming a business
Business formation is a lengthy and often stressful process. Entrepreneurs have to learn about the industry in which they hope to operate. They need to develop a business plan, and they will eventually need to secure funding for their concept. Everything from the...
3 important factors of a business partnership contract
Before a business partnership is established, a contract should be made. Contracts are especially crucial for businesses to help establish responsibilities and obligations from every party. Everything you need to set up a business partnership should be outlined in a...
4 must-haves in a business partnership
A common question people have is, what makes a business successful? The answer for this for many people is often a business partnership. By forming a business partnership, you can share any difficulties and rewards with someone who not only compliments your work ethic...
4 ways selling your business can go wrong
You’ve had your business for a long time and you think it’s time to move on. Maybe you want to start a fresh business in a new field or move forward to a better view. Whatever the case, your business is up for sale and you’re waiting for prospecting buyers. While you...
The unique challenges of starting a startup
You’ve taken the bold step of going into business on your own. This can be a rewarding move, but there are also a number of challenges that you’ll need to overcome. The reality is that many new businesses don’t make it. That’s not to say that yours can’t be a raving...
3 things to consider before entering a business partnership
There are many good reasons to enter a business partnership with someone. Yet, like any relationship between two people, there is a fair chance that things will not work out. While it is unlikely that the pheromones and hormones that can cloud people’s judgment when...