Some North Dakota entrepreneurs who are launching a new venture make a lot of legal mistakes that can backfire at a later time. There's a significant amount of work required to start a company, and many people fail to track their expenses by keeping receipts for tax...
Business Law
Plan for the future of your business with a succession plan
A good business succession plan strikes a balance between maximizing returns for the current ownership generation and the subsequent generation's long-term goals. If you own and operate a business in North Dakota, it is important to employ the services of an...
Is your business partnership destined to fail?
One of the most popular types of North Dakota business entities is a partnership where one or more persons agree to invest in a business together. Unfortunately, statistics have revealed that close to 70% of all U.S. partnerships ultimately fail. Understanding why...
Why business owners need a succession plan
When you are busy running your own business, you always have a lot of tasks to take care of. While you often look toward the future, to ensure your business can succeed in the long run, one task you may overlook is creating a succession plan for your business. Even if...
Signs you need a business dispute attorney in Fargo
Owning and operating your own business is the dream for thousands of entrepreneurs who want to be their own bosses. However, many North Dakota business owners have probably come to the realization that there is a lot of legal work to do to ensure that their businesses...
What counts as an anticipatory breach?
You may have heard of the term anticipatory breach before, but it's usually in the context of an incomplete job. However, an anticipatory breach of contract is one that involves the person hired for the job expressing or showing that they will not start on it....
Finding a lawyer for your business
Business owners in North Dakota should know that it's a good idea to have a working relationship with a law firm. A law firm can help an entrepreneur with business formation, contracts and other common issues. In general, a business owner should have a relationship...
LLCs offer tax, liability protections
The statutes of North Dakota allow for the creation of limited liability companies. An LLC is a specific type of business structure that may offer tax and liability advantages to its owners. The owners of an LLC are referred to as members. In most states, there are no...
What to know about selling a private business
There are many different issues that private business owners need to consider when determining if they want their companies to be acquired by another organization. The first question that a seller has to answer is whether a buyer's offer represents fair market value...
What to do when a breach of contract occurs
Business owners in North Dakota and elsewhere depend on contracts to make their companies run smoothly. Unfortunately, some find that, even with contracts in place, there are those who ultimately fail to uphold their end of any agreed-upon terms. What can one do to...
