Is the Lease About to Expire? The first thing to do is look at your lease and determine when the lease is set to expire. Is your tenant attempting to renegotiate for a future lease agreement, or are they trying to renegotiate the rental rate on their current lease? Most leases will specify that the tenant must notify the landlord …
Understanding Contracts: Contractor and Subcontractor in a Construction Context
Contracting and subcontracting can exist in many arenas, but one of the most common is in construction. If you have ever watched a home renovation show or gone through the excitement of having your own home or business renovated, you have probably heard the terms contractor and subcontractor used. The question is, what is the difference and how much do …
Employment Contracts: Why They Are Important and How You Can Use Them to Protect Your Business.
Hiring new employees is a difficult process. You have to be sure they are properly suited for their position and have a personality and temperament which will suit the work environment you have spent time and effort putting together. This coupled with negotiating benefits, salary, and slotting in time for training in an already busy schedule can seem overwhelming and …
No-Handshake Policy and Other Policies for Businesses to Consider During (and After) Coronavirus
Handshakes, once a key part of professionalism in the workplace and world of networking, may now be a thing of the past due to coronavirus concerns. As more people return to the workplace, business owners are trying to figure out how to best keep their workers and customers safe while still appearing personable and professional. First impressions are especially important …
Today Is a Good Day For a Business Succession Plan.
“Unexpected events can set you back or set you up. It’s all a matter of perspective.” Mary Anne Radmacher Let’s face it. In today’s Coronavirus environment, we are all weighing the “What If’s?” in our heads. All the things as a business owner you thought you could put off until tomorrow need to be addressed… today. Having a business succession …
Moving Out of New Mexico; Should you sell your business, or move it with you?
If you choose to sell your business There are certainly options available to you. For example, there are business brokers who specialize in finding buyers for viable businesses. They typically take a percentage of the sale price as a fee or commission and help negotiate the terms of the sale between the buyer and seller. Typically, brokers who want to …
Important Things to Look for in Commercial Leases
When looking at commercial leases either as a prospective tenant or as someone who wants to make sure they know their lease terms, it’s always a good idea to read the entire agreement yourself and have a lawyer review it, if possible. If you’re saving money by reviewing your own lease, there are certain clauses to be aware of that …
What Counts as “Essential Business” in Today’s COVID-19 Environment?
Recently the Governor of New Mexico issued a stay at home instruction for New Mexicans. https://cv.nmhealth.org/2020/03/23/state-enacts-further-restrictions-to-stop-spread-including-stay-at-home-instruction/ The order lists what types of businesses have been deemed “essential business” but falls short of offering much detail other than that. The fact of the matter is many businesses provide products and services that their owners/managers certainly believe to be essential in today’s …
Asset Purchase vs. Stock Purchase: Which Is the Best Way To Sell Your Company?
An asset purchase and a stock purchase can both be good ways of selling a company, but there are a lot of factors to consider. In fact, depending on what kind of business entity you have, the choice may already be made for you. Let’s start by looking at some aspects of the two methods, then we’ll talk a little …
Can You Simply Transfer Your Ownership in A Business to Someone Else?
You have ownership in a business, but you don’t want to be involved in the business anymore. Or, maybe you want to assign the distributions you receive from an LLC to payoff a debt. Can’t you simply just transfer your ownership to someone else without having to go through a lengthy, legal process? Time to check your Operating Agreement As …
