Entrepreneurs may have to change their strategy several times after coming up with an idea for a new business concept. Frequently, the idea someone has will require some tweaking to turn it into a profitable business model. They may have to scale up or down their...
Business & Commercial Transactions
Will your child be ready to take over the family business?
You may feel strongly about the wish for your child to take over the family business when you retire. Not only do you feel like they can continue fulfilling obligations to your customer base and your employees, but you hope to provide them with a good standard of...
2 important documents for married couples starting businesses
When someone starts a business during their marriage, they may work on developing the company while their spouse works another job. This approach helps a household reduce the risk in an entrepreneurial start-up. There is another stream of income so that the family...
What should you look for in a business partner?
You want to start your own business, but you're well aware that you don't want to do it on your own. You would like to go into business with a partner and see if the two of you can work together to have success. While many people in your situation may already have a...
Should you sell your business when you retire?
Now that you’re at the stage of your life where you’re looking to retire, one of the things you would like to do is to pass on or close down your business. You haven’t decided if you would like one of your children to take over the business or if you would like to...
Are you ready for a leadership succession at your small business?
Running a small business means planning not just for daily operations but also the long-term success of the company. That means planning for the future until you leave the company and also what will happen if you retire, die or experience a medical emergency that...
What can you do to prevent a partnership dispute?
A partnership dispute can disrupt all parts of your business. Not taking preventative measures could mean the end of your partnership or difficulties in continuing to run your business until you can manage to resolve them. That’s why it’s so important to take steps to...
Why work with an attorney to start your business?
Starting your business is an exciting time in your life. It’s a new opportunity to bring in profits and an income that you build up yourself. When you start a business, choosing the right kind of business entity is your first priority. Selecting the right business...
How to talk to your partner about ending the partnership
Dissolving a business partnership is a bit like filing for divorce. You will try to figure out the fairest way to split the property you share with your partner based on your individual contributions to the company. Also, you may have to involve the courts if the two...
The value of a postnuptial agreement when starting a company
You want to start a new business. Perhaps you and your spouse have a great idea or maybe you finished school and are ready to start your professional practice. Those who are already married at the time that they start their business are in a vulnerable position. Their...