The war for talent is heating up. A record number of workers have quit their jobs this year, creating a massive problem for employers. While higher pay can help get new workers in the door of your business, wages alone may not be enough to keep them there. Employers are getting creative in finding ways to attract—and retain—great employees. In …

Exposure to lawsuits involving injury and loss claims is among the biggest risks that businesses face. Although liability waivers are most commonly used by businesses that offer inherently dangerous activities, such as ski resorts, amusement parks, and gyms, they can be used whenever a business seeks to limit the claims or damages that a visitor could pursue against it in …

An equity purchase agreement, also known as a share purchase agreement or stock purchase agreement, is a contract that transfers shares of a company from a seller to a buyer. Equity purchases can be used to acquire a business in whole or in part. They are frequently contrasted with asset purchases, which achieve similar objectives but have a different deal …

You have invested a lot of time and money in developing your employee, customer, and vendor relationships. You cannot stop your employees from walking out the door, but you may be able to limit their ability to take other employees and business relationships with them. Nonsolicitation agreements are contractual provisions that restrict an employee’s ability to poach your customers or …

Small businesses account for nearly half of the economic activity in the United States. To successfully compete with bigger competitors, small businesses are increasingly outsourcing to improve their efficiency and lower costs. Outsourcing allows companies to expand their competencies in key areas without taking on additional full-time, in-house employees. This is a growing trend among small businesses looking for professional …

When setting up your business, one of the most significant decisions you will make is which type of entity to form. If you have settled on forming a limited liability company (LLC), you must also choose the type of management structure it will have. LLCs can be member-managed or manager-managed. Being an LLC manager means having the legal authority to …

Normally, limited liability business entities, which include corporations and limited liability companies (LLCs), prevent the entity’s creditors from going after an owner’s personal assets to satisfy their claims. But in rare circumstances, courts allow piercing of the corporate veil. When this occurs, creditors who win a legal judgment against the corporation or LLC may target the personal assets of a …

Your new business needs a capital infusion to get off the ground. The only problem is that a new business is not established enough to have generated a business credit report. It may also be lacking assets that can be used as loan collateral. Without a business credit report or business assets, lenders cannot judge whether your company is a …

Corporate directors act as the governing body of a corporation. They manage the corporation’s business on behalf of the individuals who own the corporation. Directors serve on a board, and the board acts as a group to exercise the corporation’s powers. The board of directors makes major business and policy decisions for the corporation that are carried out by corporate …

There are some activities we engage in outside of work strictly for personal reasons, with no thought of ever profiting from them. You might, for example, enjoy photography, hiking on the weekends, or collecting classic records. There is no monetary gain—and no expectation of making a profit—from these pastimes. You do them simply because you like to do them. Then …