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Business Law & Corporate Formations

A partnership agreement should address ownership percentages

When two business partners decide to start a company together, one of the first steps they should take is to create a partnership agreement. A lot of people start partnerships with a handshake deal, but that can be very risky and may increase the odds of disputes in...

Common reasons for non-payment 

While business operations can be complex, many of the foundations remain simple. A business provides services or goods to a client and expects to be paid an agreed amount. For the most part, this is what happens. However, that isn’t always the case.  Sometimes, a...

2 legal errors that startups should avoid 

Starting a new company can be very exciting for founders. When a business finds a niche and markets a unique product or service, there is no reason why it cannot succeed.  Nonetheless, it isn’t that easy. The harsh reality is that many startups fold within the first...

What business structure is best for you?

Starting your own business is both exciting and scary. There are so many details involved that it's sometimes difficult to know where to start. One of the most significant decisions you will need to make is how to structure your business. Knowing your options and the...

5 clauses every partnership agreement should have

When forming a business, you may want to go the partnership route, pooling resources and expertise with others for mutual success. However, in this collaborative endeavor, a partnership agreement may be needed to outline crucial details and expectations for all...

What’s the difference between a business license and a permit?

Obtaining necessary licenses and permits is vital for operating your business legally and avoiding potential fines or penalties. Which licenses and permits are required vary depending on your location, industry and the nature of your business activities. A general...

Legal considerations for new businesses

Starting your own company can be very exciting. Perhaps it’s something you’ve dreamt of for years, and it’s now come to fruition. While getting to this step is a huge achievement, the work doesn’t end there. If your intention is for the business to expand eventually,...

4 times a corporation might be the best entity for your company

When starting a new business, an early decision involves choosing a legal structure for your operations. A popular choice for many is a limited liability company (LLC), which is relatively simple to set up and maintain. While an LLC is ideal for many, if not most,...

Should you consider having a business partner?

Starting a business venture is both exciting and stressful. Some things can go wrong, but you understand that with hard work comes success. Many entrepreneurs question whether they should have a sole proprietorship or consider a business partner. Understanding the...

Understanding your rights under a business interruption policy

Forming a business involves several aspects, including securing protection against unpredictable situations. Accordingly, business owners usually acquire business interruption (BI) insurance to protect their businesses from monetary losses due to certain events. If...

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