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Ever made a deal with someone over a quick conversation and thought, “Yeah, we’re good”? No paperwork, no signatures. Just a simple agreement and maybe a handshake to seal it. It feels easy and natural, especially for small things. But when something goes wrong later,...
This week, the Federal Trade Commission banned the future use of non-compete agreements and clauses. Crucially, it also renders most non-compete agreements and clauses existing on or before the effective date of such ruling unenforceable; unless, however, such...
A helpful guide for business owners navigating the newly enforced Corporate Transparency Act (CTA) and BOI reporting.
For many, starting and growing a family business is part of achieving the American dream. In fact, according to Grand Valley State University, there are roughly 5.5 million family businesses in the U.S. If yours is one of them, passing your venture onto your child can...
Starting a new business is an exciting time for every entrepreneur. However, you and your business partner cannot foresee everything that will happen over the lifetime of your company. A partnership agreement can help ensure that the two of you are on the same page...
Getting into a dispute with a business partner can often feel like the end of the road. But you do not necessarily have to burn those bridges or cut those ties, especially if you avoid litigation. Mediation is one way to do so. And if you opt for this, you will soon...
When deciding what structure you want your business to fall under, you should give equal weight to the benefits and potential drawbacks that each type can potentially bring to your table. Limited liability companies (LLCs) prove an ever-popular option, especially for...
As a business owner, your most important growth assets are your ties to other businesses. Burning bridges in the business world can do more than just haunt you: it can actively hurt you. So how do you avoid that? One of the best things you can do is figure out a...
Succeeding in business often requires working with others who have different strengths. After all, while you may have a brilliant invention or business model, you may be short on capital or managerial skills. Finding the right business partner is an effective way to...
Business owners may want to work with partners or vendors. Either way, they need contracts to help keep everyone on the same page and protect their rights. Chron explains a business contract's most essential elements. Knowing what belongs on an agreement saves time...
