Determining who will manage the day-to-day affairs of your business is an important decision. You need to know, at the outset, who will manage operations, both for the success of your business and because the Limited Liability Company (LLC) operating …
As a member of an LLC, you may owe a fiduciary duty to the company. The two key fiduciary duties are the duty of loyalty and the duty of care. Whether you have a fiduciary duty will depend on the …
Read LLC Members: What You Need to Know about Your Fiduciary Duties
Listen to Rachel Armstrong of Farm Commons on this podcast talk about a topic near and dear to my heart… volunteer farm labor! Rachel is a renown speaker and writer on labor and employment law issue affecting farmers and ranchers. …
Read Episode 5 of Ag Law Today Podcast: Volunteer Farm Labor
You’ve likely protected your business with general liability coverage, property insurance, commercial automobile coverage, and workers’ compensation insurance. But for some businesses, operations would come to a grinding halt without certain essential contributors—key persons as we call them. If your …
You may have done your homework and weighed your options. Perhaps you’ve even considered the tax and non-tax implications for common business entities. We bet you’re also intrigued by the protections certain business entities afford their owners. The “corporate veil” …
Read Does the “Corporate Veil” Really Protect Your Personal Assets?
Although the main purpose of a job description is to, well, describe a job – it actually serves a much bigger role. In fact, a job description can improve a company’s ability to manage employees in many ways. A well-written …
All successful businesses do their best to save money, improve efficiency, and increase profits whenever and wherever possible. This is especially necessary for small businesses on a tight budget. While there are numerous ways to save money, these eight cost-saving …
Read 8 Simple Cost Saving Measures for Small Business Owners
Coming up with a great idea that can be turned into a prosperous business venture takes a certain talent. Knowing how to get your great idea financed and properly managed, takes another. However, it may be easier than you think. …
Read Managing the Money Aspect of Your New Business: It’s Easier Than You Think
Securities law is a complex minefield that terrifies even the most seasoned lawyers. As a small business owner, it is your responsibility to make sure you’re complying with all the securities laws, both federal and state, that may apply to …
Entrepreneurship has been called the new American dream. Hanging a shingle starts with an idea that develops into a business plan, but not without careful financial and legal considerations. Among the decisions that new business owners grapple with is whether …
Read I’m Starting a New Business – Should I Use an LLC (Taxed as a Partnership) or an S Corporation?