20 FAQ About How to Prevent Scams in Your Company

20 FAQ About How to Prevent Scams in Your Company

This article answers common questions asked by people about how to prevent scams in your company. What are some common types of scams that target businesses? Common types of scams that target businesses include phishing attacks, business email compromise (BEC) scams, invoice and payment scams, supply chain fraud, and intellectual property theft. How can I…

20 FAQ About Interrogatories

20 FAQ About Interrogatories

This article answers common questions asked by people about interrogatories. What are interrogatories? Interrogatories are written questions that one party in a legal proceeding may serve on another party. The purpose of interrogatories is to gather information and clarify factual issues in a case. What is the purpose of interrogatories? The purpose of interrogatories is…

20 FAQ About Being Appointed to a Board of Directors

20 FAQ About Being Appointed to a Board of Directors

This article answers common questions asked by people about being appointed to a board of directors. What is the role of a board of directors? A board of directors is a group of individuals who are responsible for the overall governance and strategic direction of an organization. They are responsible for setting policies and making…

20 FAQ About Establishing a Board of Directors

20 FAQ About Establishing a Board of Directors

This article answers common questions asked by people about establishing a board of directors. What is a board of directors? A board of directors is a group of individuals elected by the shareholders of a company to oversee the management and direction of the company. The board of directors is responsible for making strategic decisions,…

20 FAQ About Public Benefit Corporations

20 FAQ About Public Benefit Corporations

This article answers common questions asked by people about public benefit corporations. What is a public benefit corporation? A public benefit corporation (PBC) is a type of corporate structure that allows a company to pursue both financial and social or environmental goals. PBCs are required to consider the impact of their decisions on all stakeholders,…

20 FAQ About Employee Stock Ownership Plans

20 FAQ About Employee Stock Ownership Plans

This article answers common questions asked by people about employee stock ownership plans. What is a stock ownership plan? A stock ownership plan, also known as an employee stock ownership plan (ESOP), is a type of retirement plan that gives employees ownership in the company they work for through the purchase of company stock. How…

20 FAQ About Piercing the Corporate Veil

20 FAQ About Piercing the Corporate Veil

This article answers common questions asked by people about piercing the corporate veil. What is piercing the corporate veil? Piercing the corporate veil refers to the legal concept of holding the shareholders or owners of a corporation personally liable for the debts or obligations of the corporation. This is typically done when the corporation has…

20 FAQ About Shareholder Derivative Lawsuits

20 FAQ About Shareholder Derivative Lawsuits

This article answers common questions asked by people about shareholder derivative lawsuits. What is a shareholder derivative lawsuit? A shareholder derivative lawsuit is a legal action brought by a shareholder on behalf of a company to remedy a wrong or to protect the company’s interests. The shareholder brings the lawsuit in the name of the…

20 FAQ About Cooperatives

20 FAQ About Cooperatives

This article answers common questions asked by people about cooperatives. What is a cooperative? A cooperative is a business owned and controlled by a group of people who use its services or products. Cooperatives are based on the principles of democracy, equality, and solidarity, and are organized to meet the common needs and aspirations of…

20 FAQ About Limited Partnerships

20 FAQ About Limited Partnerships

This article answers common questions asked by people about limited partnerships. What is a limited partnership? A limited partnership is a business structure that consists of one or more general partners and one or more limited partners. The general partners manage the business and have personal liability for the partnership’s debts, while the limited partners…

How to Sell Your Domain Name – FAQ for Domain Sellers

How to Sell Your Domain Name – FAQ for Domain Sellers

This article covers common questions asked by people selling domain names followed by answers to those questions. What factors determine the value of a domain name? There are several factors that can impact the value of a domain name: Length: Shorter domain names are generally considered to be more valuable because they are easier to…

How to Start a Lawsuit

How to Start a Lawsuit

The following article provides general information about how to start a lawsuit. But each state has its own laws (e.g. Minnesota), so you should consult with an attorney in your state. What Are the Legal Steps to Start a Lawsuit? The legal steps to start a lawsuit vary depending on the jurisdiction and the type…

8 Tips for Business Owners Without Financial Controls

8 Tips for Business Owners Without Financial Controls

What Are Financial Controls in Business? Financial controls are the policies and procedures that a company puts in place to help ensure the accuracy and integrity of its financial statements and to prevent fraud. These controls can include things like segregation of duties, regular reconciliations of accounts, and reviews of financial statements by independent parties….

What Is It Like Emotionally to Go Through a Lawsuit?

What Is It Like Emotionally to Go Through a Lawsuit?

Going through a lawsuit can be a very emotionally taxing experience. It can be stressful, time-consuming, and expensive, and it can take a toll on your mental and emotional well-being. It is natural to feel a range of emotions during this time, including anger, frustration, anxiety, and sadness. It is important to take care of…

How to Sell a Restaurant: Practical Tips from a Lawyer

How to Sell a Restaurant: Practical Tips from a Lawyer

What Are the Steps to Selling a Restaurant? There are several steps involved in selling a restaurant. These include: Determine the value of your restaurant: This is an important step, as it will help you set a realistic asking price for your restaurant. To determine the value of your restaurant, consider factors such as the…

How to Avoid Getting Sued as You Get Successful?

How to Avoid Getting Sued as You Get Successful?

As a business or individual becomes more successful, the likelihood of facing legal challenges increases. Lawsuits can be time-consuming, expensive, and can damage a business’s reputation. Fortunately, there are steps you can take to minimize the risk of getting sued. In this article, we’ll explore some of these steps. Follow the Law The most basic…

Clawbacks: The Legal Term That Could Leave You Empty-Handed

Clawbacks: The Legal Term That Could Leave You Empty-Handed

A clawback is a contractual provision that allows a company or organization to recover compensation or benefits that have already been paid to an employee or executive. This provision is typically included in employment contracts or bonus plans, and it allows companies to recover compensation if certain conditions are not met. The primary purpose of…

Core Values: The Foundation of a Great Company

Core Values: The Foundation of a Great Company

Core values are the guiding principles that shape the identity and culture of an organization. They represent the beliefs, behaviors, and attitudes that define the organization and guide its decisions and actions. However, some people question whether core values are just fluff – superficial statements that have no real impact on the organization’s success or…

Are You Making These Small Business Contract Mistakes?

Are You Making These Small Business Contract Mistakes?

Small businesses rely on contracts to establish agreements between themselves and other businesses or individuals. Contracts can help protect your business interests and provide a framework for resolving disputes, but they can also be fraught with risks if not done correctly. In this article, we will discuss some common mistakes small businesses make when drafting…

Should Your Company Have a Business Operating System?

Should Your Company Have a Business Operating System?

The success of a business largely depends on its ability to execute its strategies and operations efficiently. A business operating system (BOS) is a set of processes, tools, and methodologies that help organizations optimize their operations and achieve their goals. In this article, we will explore the benefits of having a BOS and whether your…

Avoid Legal Problems: Understanding Conflicts of Interest

Avoid Legal Problems: Understanding Conflicts of Interest

In this video, you will get answers to these questions: What is an example of a conflict of interest for business owners? Does a conflict of interest include family members? Does a conflict of interest include business partners? Does a conflict of interest include an employee? Does a conflict of interest include an employer? Does…

Who Gets the Business in a Divorce?

Who Gets the Business in a Divorce?

Starting a business is a significant milestone that requires careful consideration, planning, and execution. If you are considering starting a business with your spouse, it can be an exciting opportunity to work together and build something meaningful. However, before embarking on this journey, it’s essential to understand the pros and cons of owning a business…

Disclosure Statement

Disclosure Statement

This post is part of a series of posts entitled First Considerations for the Financially Distressed Business. For a comprehensive list of articles contained in this series, click here. In conjunction with filing a proposed plan, a chapter 11 debtor must also include a disclosure statement. This is an important document in a chapter 11…

Requirements of Plan

Requirements of Plan

This post is part of a series of posts entitled First Considerations for the Financially Distressed Business. For a comprehensive list of articles contained in this series, click here. The good news for a chapter 11 debtor is that a debtor and its creditors are basically free to agree to any plan that they believe…

Basics of Chapter 11 Plan

Basics of Chapter 11 Plan

This post is part of a series of posts entitled First Considerations for the Financially Distressed Business. For a comprehensive list of articles contained in this series, click here. The goal of chapter 11 bankruptcy is for a business to become profitable again, maximizing the return to the business’s creditors and owners. Achievement of this…