Family farms tend to pass from one generation to the next. In some families, entire groups of siblings may work on one farm together and help maintain the property for the entire family. More than one person likely relies on a family farm as a source of income, but...
Business Law
Are personal assets at risk during business bankruptcy?
You may have a good business idea, but you know that you need to take out loans to get the business off the ground. You simply don’t have enough startup cash yourself. You could try to start the business on the side and build it up over time, but you may want to move...
3 tips for drafting more effective business contracts
Businesses of all sizes and purposes rely on contracts to make operations predictable and profitable. Companies sign contracts when they hire new workers, when they need supplies delivered by vendors and when they rent a new commercial space. Contracts help make...
Should entrepreneurs worry about the Corporate Transparency Act?
Starting a new business means taking a lot of risk. People can’t know for sure how the market might respond to a new business endeavor, and rapid changes might render a once-viable concept unprofitable in a matter of weeks, months or years. Entrepreneurs not only need...
What are contract recitals and do you need them?
As a business owner, you probably have agreements governed by legal contracts with businesses, employees or others. Do you ever skim over the introductory paragraphs of your contracts, dismissing them as mere formalities? Those segments, usually starting with...
Tips for effective business succession planning
Business succession planning is crucial for ensuring a smooth transition of a business to new leadership or ownership when its current owners retire, become incapacitated, pass away or decide to exit the company. An effective business succession plan can help a...
Issues to consider during a business merger
Mergers can be a promising avenue for business growth, offering a chance to combine resources, eliminate competition and access new markets. While they come with their set of opportunities, they also present challenges. Integrating two distinct companies requires...
3 main elements of a business contract you should know
In business, contracts are the backbone of every agreement and transaction. Whether you are a seasoned entrepreneur or just starting your business journey, understanding the key elements of a business contract is crucial. These legal documents can be complex, but...
When should you draft contracts when forming your business?
Forming a business can be exciting and overwhelming. You may be excited that you are fulfilling your dream, but simultaneously have to make crucial decisions regarding financing, business structure, marketing approaches, objectives and hiring among others. And as a...
What employment mistakes do business owners often make?
Operating a business in the modern world often means juggling dozens of tasks simultaneously. It is easy to lose track of your activities and make a mistake with employment matters. Unfortunately, errors that violate state and federal labor laws may pose severe...