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 …
The Correct Way to Use a Promissory Note
Promissory notes can be used in many different ways. For businesses, Promissory Notes are often used for short term financing. They can provide small business an avenue to obtain financing when they are unable to qualify for traditional loans. However, before signing a promissory note, it is important to understand what they are, how they are used, what exactly they …
Documentation For Businesses During COVID-19 Discussed on KRQE This Week
Business Law Southwest Partner, Don Kochersberger was interviewed by KRQE this week to discuss New Mexico Governor, Michelle Grisham Lujan’s Stay at Home Order https://cv.nmhealth.org/2020/03/23/state-enacts-further-restrictions-to-stop-spread-including-stay-at-home-instruction/ and how businesses that are providing essential infrastructure services should operate go forward. Does your business need Essential Infrastructure Documentation? Would you like to discuss with an attorney if your business falls within the guidelines …
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 …
Can My Business Re-Negotiate Its Contracts with Vendors and Our Landlord in Light of the COVID-19 Pandemic?
In today’s COVID environment, businesses are being told to close their doors and send employees homes. As such, many business owners are struggling to earn enough revenue to be able to meet their contractual obligations to their vendors, landlords and banks, let alone make payroll. With financial disaster looming for so many businesses, do standard contracts, loan documents or leases …
Are Handshake Deals Enforceable?
There is a common misperception that written contracts are required for any agreement to be enforceable. While it is almost always preferable to have a written contract, hopefully crafted by an attorney with an understanding of the issues related to the specific type of agreement contemplated, all is not necessarily lost if you do not. There are some types of …
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 …
When Your Client Won’t Pay- How to Collect on a Debt
There are many things a business owner can do from the get-go to improve their chances of a favorable outcome in the debt collection process. The most important tip is to start out on the right foot. Get a contract before you start work for any client- regardless of how small the transaction may be. Now when I say, get …
What To Do When “Equal Participation” Equals Deadlock
Absent language to the contrary in an Operating Agreement, “equal participation” means all partners have equal rights and authority to participate in the management of the business. This means each partner has one equal vote when it comes to decision making. Obviously, this can get tricky when you have an equal number of partners. So, what do you do when …
Non-Competes and Franchise Agreements in New Mexico
I cannot tell you how many franchisees I know come to me a couple years after having signed an agreement desperate to get out of it. Franchisors love to make fantastic promises about growth and potential, but when you look at the fine print, what you’ll learn is they place all the risk on the franchisee – and make it …
