The Connelly Case: A Wake-Up Call for Small Business Owners with Buy-Sell Agreements Funded by Life Insurance
Connelly vs. Internal Revenue Service: A Critical Legal Development for Small Business Owners
Small business owners often rely on buy-sell agreements to ensure the smooth transition of ownership upon the death of a partner. These agreements, commonly funded by life insurance, provide a vital safety net, ensuring...
Selling a Business: Tips to Prepare for a Seamless Sale
The decision to sell a business in California is one of the most consequential ones an entrepreneur can make. Whether you're looking to retire, pursue new opportunities, or capitalize on your success, the process of selling a business can be complex and emotionally charged.
As experienced business law...
Protect Your New Business with Preventative Legal Planning
Most people are familiar with the idea of “preventative” legal action. The term refers to anticipating legal issues and conflicts and working to prevent them rather than solving them or “winning” them once they occur. Companies can benefit from implementing preventative legal strategies as this approach is often less expensive than litigation,...
Five Considerations for Starting a New Business
Whether you are a seasoned entrepreneur or embarking on the journey of creating a commercial enterprise for the first time, starting a business is an exciting and rewarding experience. But to make the process as effective and stress-free as possible, you’ll need to carefully plan things out in advance. Mistakes and...
Common Lawsuits Brought Against Small Businesses
It is impossible to predict every lawsuit that a small business might face. There is nothing to prevent angry vendors, entitled customers, or disgruntled employees from filing a lawsuit, even if they have no legitimate basis. The more a business owner delegates responsibilities to employees, the greater the risk that an...
Modern Strategies For Resolving Partnership Disputes
If you have a business partnership dispute, you may be reluctant to engage in litigation and wonder what other options exist. Is litigation the only path forward? No. Depending on what you’re seeking to get out of a dispute resolution, there are other strategies you can attempt before settling on litigation.
Oral Contracts & The Statute of Frauds- Is The Agreement Binding?
There is a widespread misconception that verbal contracts are unenforceable. However, in California, a verbal contract with another party can still be valid and binding. In some cases, a signed document is not required.
However, if a signed written contract exists, any disagreement between the...
Opening a New Restaurant? Some Key Legal Considerations for Restaurateurs
Each year, approximately 30,000 new restaurants are opened in the United States. Most restaurateurs understand the great risk that comes with these ventures; in fact, some sources estimate as many as 18,000 of the 30,000 restaurants opened this year will fail within the first three years in business. Despite the risk, many...
A Comprehensive Guide to Employer Due Diligence
Employers have a responsibility to ensure a safe and trouble-free work environment. This involves implementing comprehensive policies, providing regular training, and adhering to employment laws. This blog will take you through essential steps, such as developing detailed employee handbooks, conducting background checks, and fostering open communication. By taking these proactive measures,...
Fiduciary Responsibilities and Your Business
Individuals in a position of trust within a business have a set of fiduciary responsibilities to act solely in the best interests of the organization and its stakeholders. This includes obligations like loyalty, care, and operating in good faith. Understanding these principles is essential for directors, trustees, and managers who make decisions...