Generally, when two people become business partners and start a company together, neither one is silent. They both have a say in the process, they have ownership of the business and they get to work together to decide how they’re going to run it. In fact, they may...
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Entrepreneurial Law
How are you going to fund your business?
Having an idea for a new business is just the first step. You also have to figure out how you’re going to fund that business. With almost every company, you have to spend money to make money, and that means you need some amount of funding upfront. How are you going to...
Is it time to move your business out of the garage?
If you're like most business owners, you will reach a point where you outgrow your home office. When this happens, it's time to move your business into a building. This can be a daunting task, but it doesn't have to be. What to consider when moving your business out...
Why do employers use tip pools?
Employees who work in tipped professions are sometimes put into tipped pools by their employers. This essentially just means that the employee who gets the tips does not get to keep them. All of the tips are compiled into a single pool and then split up among all of...
Does your business idea have legs?
You’ve been a loyal employee for several years, but you’ve always had ambitions to form your own business. Finally, an idea has come to mind, and you believe you’re on to a winner. Nonetheless, the truth is that many businesses falter, so you need to think carefully...
Avoid these common pitfalls when starting your own business
Starting your own business is a bold decision. Nonetheless, the startup process is far from easy, and being an entrepreneur will bring numerous challenges your way. The reality is that many startups fail within a short time, but your business doesn’t have to fall into...
Partnerships and prenups: Protect your future and your company
You and your business partner aren’t married to each other (and never will be), so why on earth should a prenuptial agreement be required before either of you tie the knot? It’s simple: You can’t rule out the possibility of love and marriage for either you or your...
Why do those creating a start-up often form an LLC?
Starting a business is an exciting time. You likely see this process as a major opportunity, although it also comes with certain risks. Many entrepreneurs starting a business will choose to create a limited liability corporation (LLC) as a means of protecting...
What to consider when taking on your first employee?
However large you hope your company will become, you start at the bottom. The first employee you hire is, in many ways, the most important. If you get your employment policies correct when starting your business, you create a solid base to build on. If you get things...
A new entrepreneur must protect their company
Starting your own company is an exciting time. It comes with great responsibility and a lot of work, though. The last thing a business owner wants is to have something happen to their company that was preventable. Taking the proper steps to ensure that your business...