Large companies have a legal department, but businesses of every size need outside legal guidance to operate effectively. Legal representation, however, costs money, so it is always worth weighing the company's needs. There are a variety of benefits to using outside...
Businesses going into receivership can benefit creditors
Businesses often prefer to avoid Chapter 11 and go into receivership because it carries fewer negative connotations and involves less administrative work. A regulator, private entity or court appoints a receiver to the businesses. Once the company goes into...
Clauses are an essential part of commercial leases
Whether opening a business, expanding it or moving it to a new location, shopping for a suitable new space is important. Once you select a space, it is time to review the landlord's commercial lease. These are often lengthy with a lot of legal jargon, but it is...
The emotionally taxing process of estate planning
Writing a will presents challenges for most “authors.” Planning for a time when the document’s writer will be deceased is something that no one wants to face. Even though proactive steps can provide for a stable future for descendants, facing mortality can be...
Was it a contract breach to force you out of the partnership?
New business partnerships start with the best of intentions. The partners are excited by the new endeavor's potential and likely made serious commitments to help the company live up to its potential. Part of the process is creating a business plan, which includes a...
Start-ups should not rush to launch
Timing can be everything in the success of a new business. Many assume this means beating everyone to market, particularly in fast-paced environments like technology. However, the rush to meet a deadline can spell business problems or legal trouble further along the...
When should you use a specific performance clause?
Contracts are the lifeblood of any practical business model. Companies use them to hold others and themselves accountable for every transaction or deal. Many will feature different clauses to address potential issues specific to the agreement, and one of those is a...
Don’t forget your digital assets in your estate plan
Creating a thorough estate plan is integral to passing on your legacy. You have spent a lifetime surrounded by loved ones, and your estate plan allows you to offer support and peace of mind. Some aspects of estate planning are simple; you know how to distribute assets...
How to notify tenants of evictions, lease terminations and property sales
Different property owners will have various leases. They likely will vary by building or space. How the owner will inform tenants will likely be based on local and state regulations and conditions outlined in the agreement. It is important to remember that owners must...
What are my options when the kids are not interested in the business?
Whether your business started with success or it took years to refine your brand, your company has been an essential part of providing for you and your family. As you began to build your success, you may have thought about your children being able to continue your...