You and your closest friend have been discussing starting a business together for some time now. Finally, you both are ready to make your dream a reality. You have decided to enter into a partnership and share equal responsibility for managing the company. Before you...
Business Formation
What are the benefits of forming an LLC?
Starting a business or scaling up from a one-person operation can be tremendously exciting, but choosing the legal structure for your business is a decision that can have a broad impact on your future success. You do have choices, but one popular option for...
What are the downsides of a business partnership?
There are certainly many positive upsides to starting a business partnership. Your business partner can bring new perspectives, additional financial capital and additional skills and abilities to the business. Many businesses are only successful because they are...
Don’t forget about insurance when forming a Texas business
It is unfortunately easy to overlook some things when planning and forming a new business. However, failing to address critical issues like business insurance can increase your overall liability once you finally open for business. Since Texas has fewer insurance...
Qualities to look for in a business partner
When you’re starting a business, one of the major things that determines if it will be successful or not could be your business partner. Choosing the right person can bring you to higher levels of success than you would have achieved on your own. Choosing the wrong...
Should you include an arbitration clause in your contracts?
Arbitration clauses are used in contracts to avoid litigation between businesses. It is an efficient way of dealing with problems, and to keep disputes confidential. Arbitration, a type of alternative dispute resolution (ADR) is a popular alternative to litigation...
Create professional and personal protection with a strong contract
One of the most important aspects of any business deal is that both parties know their obligations and expectations. Having the right legal documentation in place insures that all parties are on the same page and that everyone's expectations are met. In the event that...
Should you consider taking business funds from angel investors?
Many entrepreneurs have innovative business ideas with the potential to generate great profits but don’t have enough money to launch a company. Taking on investors seems like a logical means of raising startup capital. For example, high-net-worth individuals,...
Why good contracts are essential to your business goals
Starting a business can be exciting, as you get to execute the ideas you are passionate about. In your earliest days, you may have operated mostly on “handshake deals” and verbal agreements, but that’s not something that you should continue. You need written contracts...
Business formation and asset protection: A primer
Those who are savvy enough to start their own business likely have enough business acumen to know that certain liabilities come with owning a business. There are steps that business owners can take to reduce this risk. When used wisely these steps can mean that...