Fraudulent transfers are a real risk and can lead to hefty losses for businesses and individuals alike. However, by subjecting transactions to due diligence, creditors can significantly mitigate the risk of falling victim to fraudulent activities. One of the ways to...
When an insurance company won’t uphold a business policy
Securing the right insurance coverage is as important for a business as it is for the head of a household. Those helping start or operate companies may require a variety of different types of insurance coverage. For example, companies that make their facilities open...
Missed deadlines can be contract breaches
In many cases, a contract breach means that goods or services were never provided. For instance, a general contractor may have hired a roofing company to put a roof on a new build, but the company never shows up and doesn’t complete the project. They have violated...
Noncompete agreements could be banned this year
Noncompete agreements are legally binding documents that employers sometimes use with their employees. If an employee signs such a document, they’re saying that they won’t leave their position to take the same job with the competition. In some cases, they’re also...
What’s the purpose of a cease and desist letter?
No business owner wants to take time and money away from their company to go to court. When a competitor or other business acts in a way that violates the law and is harmful to your business, however, you can’t let it stand. Fortunately, there are typically steps you...
Key business succession planning tips
If you’re passing your business on, it’s important to carefully consider how you want to do so. Business succession planning is, in some ways, very similar to estate planning. As you seek the best results for your family and your business, it’s wise to have a plan in...
Adding this clause to a commercial lease can help to protect a tenant
A commercial lease is an affordable and relatively fast way for a new or growing business to secure commercial facilities. Purchasing commercial real estate is a massive investment. Simply trying to obtain financing can prove to be a major challenge. A lease, on the...
Does your business have third-party beneficiaries?
Business agreements, contracts and transactions are typically viewed as a two-party affair. However, the involvement of third-party beneficiaries introduces an additional layer of complexity. Third-party beneficiaries are individuals or entities that stand to benefit...
The importance of due diligence during mergers and acquisitions
Purchasing or combining facilities with another business can be very effective growth strategies. Organic company growth can be frustratingly slow, but a large business transaction like a merger or acquisition could lead to major changes for an organization....
Choosing the right entity type for your new business
Starting a new business is an exciting journey, albeit an involved one. One of the first critical decisions you'll face involves choosing the right entity type for your new enterprise. Your choice will result in significant implications for taxation, personal...