A shareholders’ agreement is a legally binding contract between the shareholders of a corporation that outlines their rights and obligations. More importantly, it details the extent to which they can exercise their rights in the company. The shareholders’ agreement...
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Why is LLC popular with small-business owners?
Businesses must be meticulous when choosing their entity as it plays a substantial role in the company’s success. Evidently, most small businesses have different priorities and capacities than other types of companies, which may work well as corporations. Because of...
Five things to include in a buy-sell agreement
Even if a business is successful, it may be time to let it go if it is no longer part of one’s priorities. If you are a partner who wants to sell their business shares, it is important to draft a buy-sell agreement that would benefit and protect all parties. Some...
Three factors to consider when choosing your business entity
It takes time to navigate the process of setting up a new business. Owners have to make important decisions that could make or break the success of their company. One of the essential decisions they have to make is choosing which entity is best for their business. And...
4 reasons to start a business partnership
When starting a business, you have many options to find success. For instance, you could form a business partnership. A business partner could be someone who shares your ambition and helps your business grow to its full potential. While that may not be enough of a...
Should a business owner wear many hats?
At some point, you may have heard people say that business owners wear many hats. This is a very common sentiment, and it is often said about entrepreneurs. It’s a metaphor, simply stating that they have to take on many different roles within the company. For example,...
Is now a good time to sell your company?
Taking the leap to launch your own business has been one of the most rewarding things you have ever done. You built a successful brand, have made profits and given others employment opportunities. With that being said, there are few business owners who run their...
What does it mean to have a silent partner?
Most people have heard the term “silent partner,” but fewer know what on actually is. It may even seem a bit nefarious – like someone having an influence on a business or helping keep it going financially without any public awareness of their involvement. In...
Do you personally have to pay business debt?
Debt is something that can keep people from taking risks and making business decisions, simply because they worry about having to pay back that debt if the business doesn’t pan out. The amount of money needed to start a business might be so great that the individual...
Why is it smart to purchase an existing business?
For many businesses, part of the process is starting a business from nothing and building it from the ground up. Chances are, you have heard of more than a few stores about multi-billion-dollar companies that started in a basement or garage. However, another option...
