Opening a business can be an exciting venture, but it’s filled with legalities that can turn daunting if you’re not prepared. In New Mexico, as in other states, registering your business is a crucial step towards legality and legitimacy. This guide targets small business owners, budding entrepreneurs, and anyone who’s considering the professional assistance of a lawyer during their business …
BLSW Explains the Corporate Transparency Act at The NMDOT Conference
On February 28, 2024 NMDOT Star held their 2024 Conference. Attorney Larry Donahue hosted the “Wednesday Webinar” discussing The Corporate Transparency Act and You. Starting on January 1, 2024 a new law went into effect that requires a significant amount of the US Companies to report Beneficial Ownership Information to the US Government via FinCen. Failure to report their businesses …
Navigating the Skies: A Layperson’s Guide to Aviation Law
The world of aviation is a meticulously controlled zone. For every graceful takeoff and smooth landing, there are thousands of regulations in place governing everything from aircraft manufacturing to pilot’s training. This intricate web of rules and guidelines is known as aviation law, and understanding it is crucial for aviation industry professionals, government officials, and even the common traveler who …
What is the Difference Between an Asset Purchase and a Share or Membership Purchase?
If you are a business owner interested in purchasing or selling a company, it is essential to understand the different types of transactions available. Two of the most commonly used types are asset purchase and share or membership purchase. While they may seem similar, there are significant differences in how they work and the outcomes they produce. This post will …
How Does Seller Financing Work When Buying or Selling a Company?
Buying or selling a company can be a complicated process, and the financing options available can make all the difference. One financing option that’s gaining popularity, especially for small to medium-sized businesses, is seller financing. This arrangement involves the seller financing part or all of the sale price of the business, rather than relying solely on a third-party lender. In …
Successor Liability and How to Prevent It
In business, it’s important to keep in mind that liabilities don’t disappear when ownership changes hands. Debts owed, outstanding lawsuits and liens may transfer over to the new owners of the business. This legal concept is called successor liability. For business owners, it’s crucial to be aware of how this can impact their bottom line and what they can do …
Professional Licensing & Licensure: How an Attorney Can Help
Being a licensed professional not only demonstrates an individual’s expertise in their field but also helps to assure clients that they are working with a competent and qualified professional. The process of obtaining a professional license, however, can be arduous and confusing. For some individuals, it may require various examinations, education requirements, and years of supervised experience. This is where …
Tax Payment Installment Agreements for Business Owners
Taxes can be one of the most substantial expenses for a small business owner. With the complex regulations and deadlines, it is not uncommon for small business owners to fall behind on their tax payments. Failure to pay taxes can lead to serious consequences such as penalties, interest charges, and even legal actions. However, there is a solution to ease …
What is an “Asset Purchase”?
If you are considering buying a business, it’s important to understand the concept of “asset purchase”. An asset purchase is a type of legal transaction in which one entity purchases the assets of another entity. It’s often used by companies looking to acquire new assets and expand their operations. In this blog post, we’ll explore what an asset purchase is …
Should You Get a Lawyer to Review Your Commercial Lease?
A commercial lease is a legally binding document that outlines the terms and conditions of a tenancy agreement between the landlord and tenant. It’s important to read the fine print carefully before signing—and if you’re unsure about any of the clauses, you should think about consulting a lawyer. Here’s why. The Benefits of Consulting a Lawyer on Your Commercial LeaseA …
