Business Law Business Law

3 steps to take if you want to buy out your business partner

Business partnerships, much like marriages, often evolve over time. Your goals may no longer align, or your personalities could now clash. Even if you have been successful partners until this point, you may recognize signs that there will be conflict in the future.For example, maybe your partner wants to retire, but you want to keep the business running for a few years more to save more for your own retirement. If you want to buy your partner out of the business you own, there are several steps that you may want to take to improve your chances of success and reduce the conflict involved…

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Business Law Business Law

Should you choose an S-corp or C-corp?

Both S corporations and C corporations are helpful business formats to consider. They differ slightly, though, which is why it’s a good idea to learn more about them before you decide that you want to build your company in one of these formations.Here are a few things you should know about each of these business formations and what they’ll mean for your business overall…

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Business Law Business Law

Can creditors come after your assets as the business owner?

Doing business always comes with some degree of risk. You might have affordable supplies to manufacture a product now but will run into supply chain issues later. Demand for certain products or services can decrease substantially as trends change.It's even possible that personal issues, like health problems, lead to you going out of business to focus on yourself instead. If your company closes while it still carries debt, will you have to worry about creditors coming after your personal assets?

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Business Law Business Law

Don’t fall for these 3 myths about business partnerships

When you’re setting up a business partnership, there are plenty of things that people will tell you. They may tell you to be the minority owner, so you take on less risk, or they might tell you that you should find a partner with similar skills as yours.Don’t fall for these or other myths about partnerships. Here are three myths and the truths that you need to know.

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Business Law Business Law

Is it time to sell your business?

You built your business from the ground up, starting with just an idea. Your grit and determination have paid off and your company is thriving. Just the same, something has changed and you no longer feel the same spark of enthusiasm every day when you get to work.Is it time to sell?

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Business Law Business Law

Financing your business: Ask the right questions from the start

Getting started in your business isn’t always as simple as it would appear. There are many steps you’ll need to take to protect yourself and your interests. For most new business owners, one of the best things to do is to speak with an attorney about business law. You have many options for the way you set up your business. There are multiple kinds of contracts and employment agreements you can create, too. Understanding and having a plan is key to helping your business survive…

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Business Law Business Law

How many members do you need to form an LLC in Pennsylvania?

There is a broad range of factors that you need to consider when determining what structure to use when forming a new business in Pennsylvania. A limited liability corporation or LLC is a popular choice in part because of the protections they can offer to someone starting a new business. An LLC offers separation from you as the founder or owner of the business and the business itself when it comes to liabilities such as claims by creditors or civil action by customers or workers who believe they have a claim against the company. However, it is a complex process…

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