Businesses of different sizes and in different industries need to be aware of the real threat of fraud. Fraud can take so many different forms it can be difficult to consider where to even begin protecting your business from falling victim to such criminal actions. Cybercriminals, in particular, are most adept at adapting and changing their modes of operation in order to try and infiltrate businesses. There are, however, a number of things you can do to protect your business from fraud. Steps to Take to Protect Your Business from Fraud Whether it be a hacker, a cybercriminal, or someone lookin ..read more

A shareholder agreement is a foundational legal document for a business. Established between company shareholders, this agreement details the rights and responsibilities of the shareholders as well as detailing how the company will be set up and run. While taking the time to go through and set all of the terms of a shareholder agreement may seem cumbersome, especially when time is money, doing the work on the front end of things can be a cost-effective way of reducing the chances of expensive and time-consuming issues arising in the future. What Is the Purpose of a Shareholder Agreement? The s ..read more

For the intrepid entrepreneur, starting a small business can be a rewarding and fulfilling adventure. Among many of the ways to describe small business ownership, however, the word “easy” would not usually be present. Small business ownership comes with risks. The good news is that these risks can be manage. You just need to be aware of them and plan accordingly. Common Risks Small Businesses Can Face There are various categories of risks that small business can face. This can be daunting, but the anxiety and fallout of these risks can be effectively managed through proper planning and putting ..read more

In the business world, contracts are going to come up, one way or another. Contracts in business serve a variety of purposes and can be useful both internally and when establishing relationships with vendors and clients. When properly executed, contracts can protect your business dealings and promote the sustainable growth of your business endeavors. When proper precautions are taken when contracting, however, there can be serious and lasting repercussions. The fallout can be both immediate and be felt for an extended period of time as problems further develop and potential litigation ensues ..read more

Sometimes there are business formalities that should be observed despite there being no legal obligation to do so. This is true, for instance, with employee handbooks. While there is no legal requirement for a business to develop and distribute an employee handbook, it can have huge benefits for your company, including protecting it from legal trouble down the road. Employee handbooks, when properly executed, can set and manage expectations of employees, clarify company policies and procedures, and address how conflicts should be resolved should they arise. Considerations When Developing Your ..read more

Most of us have signed an adhesion contract even if we were not aware that what we were signing was an adhesion contract. These types of contracts have the terms drafted just by one party. The signee of the contract has no input on the contract terms. As such, courts will be reluctant to enforce an adhesion contract if certain precautions are not taken because of the great disparity in bargaining power of the two parties to the agreement. Sometimes referred to as “boilerplate contracts,” adhesion contracts, when properly executed, can be extremely helpful to businesses. Having a standard contr ..read more

Most of us have signed an adhesion contract even if we were not aware that what we were signing was an adhesion contract. These types of contracts have the terms drafted just by one party. The signee of the contract has no input on the contract terms. As such, courts will be reluctant to enforce an adhesion contract if certain precautions are not taken because of the great disparity in bargaining power of the two parties to the agreement. Sometimes referred to as “boilerplate contracts,” adhesion contracts, when properly executed, can be extremely helpful to businesses. Having a standard contr ..read more

Business succession planning involves establishing protocol for passing leadership roles down the chain of command within a company. It involves identifying key leadership roles, what those roles require, and who within the company would be fit to take over when the need arises. It is only natural for there to be some turnover in a company and this includes turnover at the management and executive level. Putting a plan in place for who will take over and how that transition will occur over time can be incredibly valuable. Let’s take a look at some of the big benefits business succession planni ..read more

The corporate structure offers a variety of benefits. There can be major tax benefits and major liability benefits. You see, the corporate structure offers owners limited liability meaning they will not be held liable for actions taken by the corporation. In some situations, however, the “corporate veil” protecting owners from liability may be pierced if a court believes the corporation is merely a front. As such, it is critical for corporate formalities to be upheld or risk legal consequences and putting your personal assets at risk. Observing corporate formalities shows the world that the co ..read more

If you are considering establishing your business as a limited liability corporation (LLC), then you are going to need an LLC operating agreement. Not only does this agreement govern the operation of your LLC, but it sets forth key details relating to the inner workings of the LLC that will be critical to clearly communicate to the LLC members. In setting forth key provisions in the LLC operating agreement, you provide clear guidance on how important matters are to be handled within the LLC. You also can help set clear expectations for LLC members and, therefore, avoid needless misunderstandin ..read more