A new business is at its most vulnerable when it is first starting. Most startups fail within their first year. Unfortunately, some fail from consequences that could have been prevented with better planning and preparation. A good place to start is avoiding unnecessary liability and harm. Start the business as a corporation or an LLC New business owners often start their businesses as a sole proprietorship. Sole proprietorships require no documents or fees other than what is required by state and local governments. However, in terms of liability, these legal entities are often just an extensio ..read more

Shareholder disputes that end in a deadlock may arise for various reasons. There could be disagreements over the development and direction of the business. The relationship between specific key individuals and the organization may be deteriorating due to a disparity in effort invested in the organization. Also, there could be conflicts over dividend distribution and funding. Consensus is one way to break such shareholder deadlocks. Here are a few consensus methods that businesses may apply. Mediation If the shareholders cannot reach a compromise by engaging each other directly, mediation can b ..read more

In the business landscape of a Limited Liability Company (LLC), situations may arise necessitating the removal of a member. This decision usually stems from serious disagreements. Given its significance, it requires careful thought because of its potential impact on the business structure. From deliberation to decision Transitioning from the deliberation to the actual decision of removing a member from an LLC is a delicate process. It also comes with certain nuances since operating a business is a serious endeavor. Such a significant change warrants meticulous consideration. It’s not a decisio ..read more

Executors and trustees play crucial estate administrative roles. Knowing which works best for you can save everyone a lot of confusion and grief when the time comes to take action on your estate. The executor manages all wishes contained in the will. A trustee is an individual consigned to ensure beneficiaries are taken care of according to the trust’s wishes. The descriptions may sound similar, but the related responsibilities carry noteworthy differences. Role of the estate executor Executors administer the estate according to the wishes outlined in a will. Executors are responsible for real ..read more

In an ideal world, everyone in your family would’ve known what your loved one wanted out of their estate plan so that expectations were measured and realized. In reality, though, estate plans are often kept secret and last-minute changes are made, leaving expectant heirs and beneficiaries surprised. When this happens, you need to know if legal action is warranted. This can be a delicate topic, of course, especially when your loved one suffered from a condition like Alzheimer’s disease. How to challenge an estate plan created by an Alzheimer’s sufferer First of all, it’s important to note that ..read more

In most parts of the country, states require anyone opening a franchise to register their business. Oregon is not one of those states. You do not have to file or register your Franchise Disclosure Document (FDD) as long as you maintain a current registration. However, Oregon does have franchise relationship laws for managing franchisor and franchisee relationships. A franchise defined under Oregon law According to Oregon’s Trade Regulation and Practices Act, a franchise is when: An entity is given the right to engage in selling, distributing, or offering services or goods based on a marketing ..read more

Purchasing a franchise can be a great step for many entrepreneurs. It allows the franchisee to build on an established brand while taking advantage of prior market research, vendor negotiations and large-scale advertising. As long as you follow the rules and pay attention to boundaries, franchise ownership can be very lucrative. While purchasing a franchise can be exciting, it is important not to ensure you are protected by the franchise agreement before you sign on the dotted line. What is contained in a franchise agreement? Franchise agreements are legal documents between the franchisor and ..read more

Facing a business lawsuit can be rather devastating, especially when you are just starting. Luckily, there are proactive steps you can take to lower liability, thus reducing risk. Below, we take an in-depth look at ways to limit liability when starting a business. Have a good business structure Your business structure plays a critical role in limiting liability. For example, sole proprietors and small business owners can benefit more from a limited liability corporation (LLC). An LLC protects your personal assets should your business get sued. Get insurance Start by getting business insurance ..read more

One of the most critical – and often overlooked – steps in starting a company is asking the right questions while selecting an appropriate business formation or entity structure that will keep the venture secure and allow for scalability through the future. Many entrepreneurs start businesses based on what they know: their passions, their strengths and the ideas they know will make money. The nuts and bolts of business and business law often produce blind-spots and areas of weakness. Basing an entity selection on misinformation or something you read online can lead to significant vulnerabiliti ..read more

A Guide for Entrepreneurs: Choosing the Right Legal Entity for Your Business. As an entrepreneur, you’ve embarked on the exhilarating journey of turning your business dreams into a reality. There are several initial steps involved in launching your business idea. You’ve got your business plan in place, secured the necessary financing, conducted thorough market research, and begun to develop your product or service. Amidst these exciting challenges, there’s a crucial decision to make: selecting the right legal entity for your new enterprise. One of the practical decisions you will have to make ..read more