I am oftentimes asked about the best choice of business entity for a farm/ranch, agri-business or food entrepreneur. There is no one-size fits all answer to that question as each type of business entity offers different strengths and weaknesses. It is important to pick the right business entity for your specific type of enterprise – the answer to that question …
Choice of Business Entity Blog Series: The “D/B/A”
I am oftentimes asked about the best choice of business entity for a farm/ranch, agri-business or food entrepreneur. There is no one-size fits all answer to that question as each type of business entity offers different strengths and weaknesses. It is important to pick the right business entity for your specific type of enterprise – the answer to that question may …
Choice of Business Entity Blog Series: The Sole Proprietorship
I am oftentimes asked about the best choice of business entity for a farm/ranch, agri-business or food entrepreneur. There is no one-size fits all answer to that question as each type of business entity offers different strengths and weaknesses. It is important to pick the right business entity for your specific type of enterprise – the answer to that question may …
Farm and Ranch Lease Webinar
I will be presenting on farm and ranch leases on March 12, 2014 with Tiffany Dowel, an agriculture lawyer and extension specialist with Texas A & M University for the National Agricultural Law Center (“NALC”). The CLE is titled “Farm & Ranch Leases: Overview and Practical Negotiation Pointers.” The webinar is free to members of the American Agricultural Law Association. …
Using Business Entities as a Risk Management Tool for Your Farm or Food Business
I enjoyed presenting at the NOFA-NY Annual Meeting last Sunday in Saratoga Springs, NY. My presentation on “Using Business Entities as a Risk Management Tool to Help Organic Growth for your Food & Agriculture Business” is below. [slideshare id=30215443&doc=organicgrowthforyourbusiness-useofbusinessentities-140120092329-phpapp02]
Organic Growth for your Food & Agri-Business- Using Business Entities as a Risk Management Tool
I’ll be speaking this Sunday, January 26, 2014 at the Northeast Organic Farming Association (“NOFA”) of New York’s Annual Meeting in Saratoga Falls. My presentation is titled “Getting Prepared for Organic Growth: Using Business Entities as a Risk Management Tool.” My presentation will give an overview of the different choices of business entities, including sole proprietorships, general partnerships, limited partnerships, …
C-Corp, S-Corp, B-Corp- Huh? What’s Best for Your Food and Agriculture Operation
Under NY Business Corporation Law (“BCL”), a corporation is formed in New York by filing a Certificate of Incorporation with the NYS Department of State. Individual shareholders will not be held personally liable for the debt of the corporation unless the “corporate shield” can be pierced. The corporate shield can be pierced in New York if a court finds that the …
Partnerships – A Common Entity Choice for Food and Agriculture Operations
At one point or another, most food and agriculture operations form a partnership with another person or entity. Perhaps it is a partnership on a single head of livestock (e.g., stallion, bull, boar, show heifer) or perhaps it is a more long-term partnership where profits and losses will be shared among family members or multiple people and entities. Partnerships can happen …
Some Thoughts on Bull Leases
Here are some terms to think about in your bull lease between the bull owner (the lessor) and cattlemen who will be leasing the bull (the lessee): Term: The term of the breeding season should be listed (e.g., March 1 to June 30, July 1 to September 1). Number of Bulls: Note the number of bulls leased from the lessor …
Some Thoughts on Operating Agreements for Limited Liability Companies
If you have decided to form a Limited Liability Company (“LLC”) or Family Limited Liability Company (“FLLC”), you should strongly consider creating an Operating Agreement. In New York, the Operating Agreement must be executed within 90 days of forming your LLC. Farms and food entrepreneurs are discouraged from using an online form as the Operating Agreement should be tailored to …
Contract Management for the Food or Agri-Business
I have been working on a contract management spreadsheet for a agri-business client of mine over the last month or so. I think this is a healthy exercise for all food and agri-businesses, no matter the size. It’s a nice way to understand who the company has contracts with, including Non-Disclosure/ Confidentiality Agreements with (potential) customers or employees/independent contractors. When …