Selling a business can be lucrative but it’s complicated. Consider these points and contact a business lawyer for help today. 1. What are You Selling? Early in the negotiations, buyer and seller must agree on what is being bought and sold—company stock (or other equity interests) or business assets. Ordinarily, the seller would prefer to sell the company stock,...
A personal guaranty is a legal promise that, if a business is unable to repay debt, an individual will assume responsibility. Credit issuers use personal guaranties to ensure repayment of the loans they issue to businesses. Some creditors will not even consider giving out a business loan without a personal guaranty. For many small businesses, the creditor is the...
Even small, simple operations have plenty of moving parts. Use these ten key points to keep your company running smoothly, protect your assets, and avoid litigation. The Must-Have. Don’t go into business with others unless you have an Owners’ Agreement. You can’t see the future, and you can’t be certain that you and your business partners (or their spouses...
Whether you’re just starting or you have an existing company, you may be considering forming an LLC. Here’s what you need to consider before you do: 1. Corporate Gymnastics LLCs are a flexible form of business entity with fewer mandatory rules than apply to LLCs than to corporations or partnerships. However, this flexibility means that all of the details...
If you’re looking for ways to raise capital for your company, you may consider crowdfunding. These ten facts will help you decide if crowdfunding is right for you. If you need help deciding what is best for your business, contact the business attorneys at BrewerLong today. 1. Come Together Republicans and Democrats in Congress came together to pass the...
Though you can be in business without setting up a legal entity, we don’t recommend it. The following points will help you decide on the best entity for your operation. 1. Human Error Carrying on business without a business entity means that each of the owners is 100% personally responsible for all of the business’s liabilities. That isn’t good....