Tips for Creating Enforceable Non-Disclosure Agreements
Accessing specialized skills without increasing headcount is attractive to many companies today, including startups as well as established enterprises. It has become commonplace for employers to utilize the services of independent contractors or other third party entities to perform important work for the company. However, there can be pitfalls to this strategy if precautions are […]
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5 Common Mistakes That Can Blow a Business Deal
Whether you are negotiating a contract with a new customer or making an agreement with a supplier, there are some common mistakes that business owners make that can make a good deal go bad. Don’t let any of these errors blow your next business deal: Failure to understand the scope of an agreement. Both parties […]
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4 Common Legal Mistakes That Could Hurt Your Business
It doesn’t matter if you’ve been running a company for a long time or are have just started your new business journey, there are some common mistakes that both veterans and rookies make that can negatively impact your enterprise: Failure to protect personal assets. Many business owners start out small, typically setting up their companies as […]
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How to Protect Your New Business with a Founder’s Agreement
If you are starting a new company with other people, a founder’s agreement is crucial to protect your fledgling enterprise as well as your personal assets. Here are some tips on how to structure that agreement: Delegate roles and responsibilities. Typically, people who go into business together have different strengths that play off each other […]
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4 Steps to Shield Personal Wealth from Business Liabilities
Anyone who owns their own business is aware of the inherent risks of business ownership, and no one wants those risks spilling over into their personal finances. To avoid this, business owners must take the necessary steps to protect their personal assets by ensuring that their business and personal lives remain legally separate. To protect […]
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Know the Legal Difference Between an Employee and an Independent Contractor
Over the past few years, the IRS has increased enforcement against employers that misclassify employees as independent contractors, leading to fines and penalties for companies that fail to make the important distinction between the two. There are three characteristics the IRS uses to distinguish between an employee and an independent contractor: Behavioral control – the […]
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Key Terms That Should be Included in an Independent Contractor Agreement
One of the most common issues facing small businesses is how to govern relationships with independent contractors. Which is not really surprising, since many small businesses use independent contractors to perform critical work functions like website development, marketing, bookkeeping and other important functions that keep your business functioning and growing. To protect your company’s future, […]
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How to Avoid a Legal Hangover from a Holiday Office Party
Holiday parties that had fallen victim to the economic recession are now back at many offices across the country, and are a wonderful way to show your appreciation for your employees and their hard work during the year. However, business owners are also wary of hosting parties that could leave them with a legal hangover. […]
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Family Business Succession Planning Issues
If you have a family business that you wish to leave to heirs after you retire or die, then it is imperative that you tackle the task of business succession planning — especially if you have a blended family or if there will be multiple generations involved. Some of the key planning issues you will […]
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Factors in Choosing an LLC Over a Sole Proprietorship
As a business owner, choosing the entity structure for your new venture is one of the most important decisions you will ever make. There are both tax and legal consequences to each different entity type, and examining the pros and cons of each before making a final decision is a smart move. If you are […]
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