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What You Need to Know About Business License and Permit Requirements

What You Need to Know About Business License and Permit Requirements

If you are starting a new business, there are so many things to consider and think about.

But it’s important, in the midst of all of this, not to overlook federal, state, and local business license and permit requirements. Almost every business, even one that is home-based, is required to obtain some form of license or...
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Business, Business Planning
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12 Things You Need to Know About Buying or Selling a Small Business

12 Things You Need to Know About Buying or Selling a Small Business

When buying or selling a business there are many issues to consider and ultimately resolve in order to ensure that both parties receive what they have bargained for.

Every transaction is unique and will require the assistance of your attorney, CPA and other trusted advisors, but at a minimum, the following should be considered:
Confidentiality/Non-Disclosure Agreement When entering...
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Business, Business Planning, Business Succession
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LLC Members: What You Need to Know about Your Fiduciary Duties

LLC Members: What You Need to Know about Your Fiduciary Duties

As a member of an LLC, you may owe a fiduciary duty to the company.

The two key fiduciary duties are the duty of loyalty and the duty of care. Whether you have a fiduciary duty will depend on the LLC’s management structure and whether you have management responsibilities. Understanding your duties is essential to avoiding...
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Business, Business Planning
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 LLC Operating Agreement: Is a Non-Compete Clause Necessary?

 LLC Operating Agreement: Is a Non-Compete Clause Necessary?

You and several friends start a new business and decide to operate it as a limited liability company (LLC).

Now that you’ve completed the first step—choosing a business entity—it is now important to prepare an operating agreement. The operating agreement is a contract which governs the operations of the LLC and sets forth the arrangements made...
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Business, Business Planning, Business Succession
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