Many businesses in Nevada have employees who work from home. The work can occur part of the time or all of the time. Either way, contracts should have certain areas to establish expectations and protect both parties. Confidentiality and data security Protecting sensitive information is necessary in remote work environments. Employment contracts should include provisions outlining confidentiality obligations, data security protocols and measures to safeguard company information and intellectual property. Remote work policy The contract should outline a comprehensive remote work policy. It shoul ..read more

Limited liability companies have become a popular choice for business entities due to their ability to shield business owners from personal liability risks. There are several other effective business structure options, yet many choose the LLC formation for their ventures. If you are starting or restructuring a business, it is important to delve into the key aspects of how an LLC provides crucial protection. Separation of personal and business assets One of the fundamental features of an LLC is the separation of personal and business assets. When individuals form an LLC, they establish a distin ..read more

The creative ideas you use to make your business successful hold a high value. One common option is to secure a patent for inventions. According to the U.S. Patent and Trademark Office, they processed 646,244 patent applications in 2020. But there are other options for keeping your intellectual property safe. It is important to know everything you can do to safeguard these valuable assets. Identify and classify your IP The first step in protecting your intellectual property is to identify what IP assets your business possesses. This includes patents for inventions, trademarks for branding, cop ..read more

Forming a new business means taking risks. When that new business is a partnership, those risks may seem greater because your friendship or relationship becomes a factor. Creating a comprehensive partnership agreement helps define roles, responsibilities and expectations for your business. There are a few key factors to consider as you draft a partnership agreement. Define the structure of the business Your partnership agreement should clearly define the company structure, including each of your roles, your financial responsibilities and the percentage of the business you hold. This should als ..read more

When you rent a property for the purpose of conducting business, you will sign a commercial lease with the landlord. Before you put your signature into writing, though, there are certain items in the contract that you should double-check. Serious real estate disputes can arise if either the landlord or tenant neglects to know and uphold the terms of a lease. That is why you should look over the document carefully and ensure that the contract is not weighed heavily against your interests. 1. Repair obligations In many cases, a landlord is responsible for structural repairs on the property. Be w ..read more

The first step in starting a business is determining the appropriate business structure. Two of the most popular options are limited liability companies and S-corporations, but you do not have to choose one or the other. Unlike LLCs, S-corporations refer to taxing methods rather than business entities, but they differ in management and shareholder structuring as well. Different tax structure Members of an LLC pay self-employment taxes and all income is taxable. With an S-corporation, the business pays taxes on salaries paid to shareholders and any leftover profits become dividends, which the g ..read more

As a business owner, there are several issues you need to take into consideration, especially when first starting. One of these has to do with hiring and firing employees. Employees are the backbone of your business. You want to keep them happy, yet when it comes time for you to part ways, you want it done amicably. You may want to consider the danger a former employee may pose if working for a competitor. Understand the basics of a non-compete agreement so you can decide if it is beneficial. What is a non-compete? When you have a business that includes proprietary secrets, you likely do not w ..read more

The state of Nevada is home to many entrepreneurs who are starting a new business. Due to the business-friendly allowances for operators primarily in Las Vegas and Reno, many new startups get established in Nevada. The most important decision these businesses make at the beginning is deciding what business structure they need when getting started. While the ownership group will be a major factor in making this decision, there are still several options that even a single owner may want to choose based on the nature of the business and necessary tax protections. Sole proprietorship Small busines ..read more

Moving into a commercial building may be an effective way to scale your Nevada business. However, it’s important that you fully understand the terms of the lease before signing it. An attorney can review a proposed agreement before it goes into effect to determine if its terms are reasonable. What costs are you responsible for? It’s not uncommon for commercial tenants to pay for any repairs that need to be made to a property. It’s also not uncommon for commercial tenants to pay property taxes, insurance premiums and other costs associated with controlling a space. These costs are generally add ..read more

A limited liability company (LLC) is similar to a corporation in many different ways. For example, like a corporation, an LLC is separate from its owners. Therefore, anyone who tries to file a claim against the company can only recover assets owned by that entity. In some cases, a Nevada LLC can choose to be taxed like a corporation. Let’s take a closer look at some of the rules governing this type of business structure. Who can form an LLC? Generally speaking, individuals are allowed to be the sole owners of an LLC, but there is no limit to the number of people who can have an ownership stake ..read more