Some people start a business with the primary objective of eventually putting the organization up for sale. Creating a profitable home healthcare company or local IT support organization can produce not just short-term income for the entrepreneur but also a sizable...
Business Law
How does a business trust work?
A business trust is a structure wherein a trustee manages the business assets on behalf of beneficiaries. In this arrangement, the trust outlines the powers and responsibilities of the trustee and the rights of the beneficiaries. Additionally, the document can include...
How can I protect my business’ trade secrets?
Businesses thrive for distinct reasons. Their strategies could change based on their operations and the resources they use to advance and expand. Certain companies bank on their intellectual properties, such as trade secrets, to give them an edge over their...
What cannot be included in nondisclosure agreements?
Company owners use various measures to prevent trade secret theft and other unauthorized sharing of sensitive company information. One of the most common protective tools is nondisclosure agreements (NDAs). NDAs often protect information such as intellectual property,...
Building a solid foundation for your business
Some entrepreneurs enter a business venture with much excitement and without much thought. Businesses often fail because their foundations are not stable enough to support their existence and development. Here are some factors to consider when beginning any business....
How an FLP can protect assets from business liabilities
Setting up a business is both exciting and draining. The owners would need to discuss which formation is best for the company based on its needs and the owners’ priorities, among other factors. Most of the time, the best business formation is one that caters to the...
Potential restrictions to non-compete agreements
Non-compete agreements are designed to help your business, and they can be used with your employees to keep them from working for the competition. Essentially, the idea is that you do not want to train employees for other companies. A non-compete agreement allows you...
3 ways to prevent discrimination in your company
Discriminating against an employee during hiring, promotion, compensation or termination is unlawful. Different types of discrimination exist, and anyone can commit them in a workplace, from seniors to colleagues. An employee discriminated against can file a lawsuit,...
2 mistakes you need to avoid when buying an existing business
If you are looking to get into business, you have two options: building a business from the ground up or buying an existing one. And while you might want to build a business from the scratch, the truth is, starting a brand-new business is no easy task. Buying an...
Can you put a “morals clause” in your employment agreements?
If you’re starting a new company, you try to hire people of good character at all levels. However, we can’t really know who someone is, what kinds of beliefs they harbor, what they’re capable of in their worst moments – and who will be around with a phone to capture...
