Deciding to close your business can be tough, especially when it involves a Limited Liability Company (LLC). Many business owners find themselves asking, “Is it time to dissolve my LLC?” Ignoring the signs can lead to financial strain and legal headaches. Here’s how to recognize when it might be time to make that call, and what you should consider along …
Changes in Ownership: Addition and Removal
As your business grows, it may become necessary to add or remove owners from your company. There can be various reasons behind this decision – whether it be for financial reasons, personal reasons, or simply to bring on a new partner. However, this process can be tricky and it’s important to know the proper steps to take to ensure a …
BLSW Tops Expertise.com’s List of Litigators
A Ranking in Professionalism, A+ Ranking in Reputation Once again, Business Law Southwest has been recognized by Expertise.com for their outstanding New Mexico Litigation Team ! Expertise’s Selection Criteria: Availability-Consistently approachable and responsive, so customers never feel ignored. Qualifications-Building customer confidence with licensing, accreditations, and awards. Reputation-A history of delighted customers and outstanding service. Experience-Masters of their craft, based on …
Things To Consider When Preparing Your Settlement Agreement
So you finally found a way to settle that legal dispute you had – congratulations! You’re almost there, now you just need to define the terms of the agreement you reached. Don’t overlook this part of the process – a settlement agreement that fails to adequately describe the parties’ intentions and obligations can lead to additional disputes between the parties, …
What Is So Important About An Operating Agreement?
It is one of the most important documents associated with your business yet in so many instances it is the least considered. In fact, a frightening amount of small business owners merely downloaded a generic form and signed it when starting their business with little knowledge as to what was in the document. The Operating Agreement for your business dictates …
What You Need To Know About Business in 2021
Attorney Stephanie Schaeffer advises against “lazy” financial practices among managing members of multiple companies. Since joining BLSW earlier this year, I have worked several matters regarding business member disputes. Some of these disputes could have easily been resolved if the parties had documented their financial action or if they had documented the “deal” they had regarding purchasing membership interest. Still …
It’s Yours!….Until We Break Up.
Attorney Alicia McConnell sorts the facts from assumption when it comes to business assets and break-ups. Dear Alicia, I started a business five years ago. It is a courier service. Two years ago, I needed to expand and hire another driver. My boyfriend at the time offered to a buy a car for my business to use. He purchased it, …
When Your Business Partner Thinks He Is Funny…. But He Is Not.
Attorney Joe Turner weighs in on this complicated but serious issue. Dear Joe, I am in a Partnership with four other Physicians. One of the Partners fancies himself a comedian. He likes to send out joke emails to the entire staff and will often add improper comments to serious ones. The problem, aside from being immature and distracting, is that often …
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 …
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 …
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