For many large companies, litigation is simply part of the cost of running a business. However, small business owners may not have given much, if any, thought to what may happen if they find themselves targeted by a lawsuit. The fact is small business owners must also...
Philadelphia Probate Law And Commercial Litigation Blog
What type of formation is right for my business?
Starting a business is more than just finally making your dreams a reality. It requires many critical factors – some of which you may have not even thought about yet. One such factor is determining how you want to set up your business. Business formations are crucial...
Approaching divorce when your spouse is your business partner
Your divorce may be especially challenging if your spouse is your business partner. While you two may have built and managed a successful venture together, sharing duties could be difficult going forward. Yet, the prospect of dividing your business is likely daunting,...
What should you look for in a business partner?
While bringing a partner into a business can open the door to new opportunities and new business contacts, the success of a partnership often depends on finding the right partner. What should you look for in a business partner? Do you believe that you can work well...
Start your business partnership with a plan to end it well
When you meet someone who has similar values and ideas to your own and who has complementary assets, the idea of going into business together can be an exciting prospect. Whether they have industry connections that can help you get a business off the ground,...
Financial tips for budding entrepreneurs
If you have a business idea that you believe could drive innovation forward and lead to a highly profitable business, it's likely that you are considering creating a start-up. Many people dream of launching a start-up but hesitate because of the inherent risks...
Ways to protect yourself if you start a business with your spouse
Getting married to someone whom you respect is invaluable. When you enjoy someone else's company enough that you could reasonably see spending your workday with them, too -- and when you trust their intellect or work ethic to help you get a business off the ground --...
Understanding tax audit defenses
All those who file tax returns can be subject to a tax audit. Some tax audits are done randomly, but others are initiated after mistakes or possible instances of fraud are detected by the Internal Revenue Service (IRS) or the state.If you are the owner of a business...
Planning your estate as a small business owner
It's always better to start planning your estate sooner rather than later. However, as long as you are considered to be mentally competent, you can plan your estate at any time in your life. If you have a small or medium-sized business, it is a good idea that you...
Is your child really ready to take over your family business?
For many people, their legacy will involve either what they do in their professional lives or what they do in their personal lives. For a small number of individuals, those two legacies may eventually overlap.If you have created or at least managed the family business...