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What Is So Important About An Operating Agreement?

In Break-ups & Partnership Disputes, Business Tips, Business Transactions, Departing Partner, Dispute Resolution, Dissolve a Partnership, Lawyer Succession, Litigation & Lawsuits, Partnership Dispute, Partnerships by Kristy DonahueLeave a Comment

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 …

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What You Need To Know About Business in 2021

In Break-ups & Partnership Disputes, Business Tips, Business Transactions, Dispute Resolution, Fraud & Embezzelment, Legal Compliance, Litigation & Lawsuits, Partnerships by Larry DonahueLeave a Comment

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 …

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What To Consider When You Are Given Equity In A Company.

In Contract Disputes, Contracts, Litigation & Lawsuits, Partnerships by Larry DonahueLeave a Comment

Does “free equity” have the potential to be a gift you will regret accepting? Hey, who would not want to be given some equity in a company? Especially if there does not seem to be any strings attached? If the company is successful, you benefit. If it fails, it cost you nothing. So why not accept an equity arrangement? Technically, …

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It’s Yours!….Until We Break Up.

In Break-ups & Partnership Disputes, Business Tips, Business Transactions, Contract Disputes, Dispute Resolution, Litigation & Lawsuits, Partnership Dispute by Alicia McConnellLeave a Comment

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, …

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Purchasing a Business That Has Debt.

In Business Tips, Business Transactions, Contracts, Departing Partner, Partnerships by Don KochersbergerLeave a Comment

Structuring the sale correctly will give you peace of mind and potentially save you thousands. Attorney Don Kochersberger weighs in on what to do when existing debt was not handled appropriately during the sale of a business. Dear Don, My boyfriend and I recently bought a business.  It is a gym that my boyfriend has been a trainer at for …

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When Your Business Partner Thinks He Is Funny…. But He Is Not.

In Break-ups & Partnership Disputes, Business Tips, Business Transactions, Contract Disputes, Contracts, Corporate Formation, Departing Partner, Dispute Resolution, Dissolve a Partnership, Employment Contract, Employment Law, Legal Compliance, Litigation & Lawsuits, LLC Formation, Partnership Dispute, Partnerships by Joseph TurnerLeave a Comment

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 …

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Employment Contracts: Why They Are Important and How You Can Use Them to Protect Your Business.

In Break-ups & Partnership Disputes, Business Tips, Business Transactions, Contract Disputes, Contracts, Dispute Resolution, Employment Contract, Employment Law, Non-Compete Agreements, Non-Disclosure (NDA) & Confidentiality Agreements, Partnerships by Joseph TurnerLeave a Comment

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 …

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Today Is a Good Day For a Business Succession Plan.

In Break-ups & Partnership Disputes, Business Tips, Business Transactions, Lawyer Succession, Partnerships by Kristy DonahueLeave a Comment

“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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Can You Simply Transfer Your Ownership in A Business to Someone Else?

In Business Transactions, Contracts, Partnerships by Larry DonahueLeave a Comment

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 …

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The Family Business Succession Plan

In Break-ups & Partnership Disputes, Business Tips, Estate & Probate, Partnerships by Larry DonahueLeave a Comment

Family owned business can be tough; especially since family is forever and a business lasts as long as the front doors can stay open.  A family business can never be truly free of passion, so it is important to understand the importance of utilizing consultants from outside of the family in conjunction with a Trust and Estate planning team to …