When starting a business, many entrepreneurs jump immediately into day-to-day operations. They often struggle to make time to develop systems for documenting how decisions are made. However, failing to keep a written record of the factors that lead to business decisions can increase the risk of liability if things ever go awry. As a result, it is best practice for …
Congratulations! You have decided to form a limited liability company (LLC) to run your business. After completing your state formation process, your LLC needs to have the right documentation in place. An operating agreement, sometimes called a company agreement, is a legal document that describes and outlines how an LLC will run, and is an essential document for owning and …
When you create a limited liability company (LLC) or a corporation, the concept of limited liability is one of the key rationales for those entity choices. Limited liability is typically available when you create distinct legal entities that separate your personal assets from your business assets, thereby limiting exposure to liability on both fronts. Even though this is a foundational …
Last week I finished the book “Tipping Point” by Malcolm Gladwell (admittedly, while I was laying on a beach over Memorial Day weekend). I read “Outliers” last summer and “Blink” several years go and I think Gladwell’s books make for a thought-provoking quick read. The premise of the book is about how the “little things” can make a big difference …
I hope everyone is enjoying their Labor Day! I spent my Labor Day having some good ol’ Texas BBQ and enjoying the street fair in Manhattan. Here are some links for your Labor Day reading: 1. I spent Sunday afternoon listening to the U.S. Department of Agriculture/Department of Justice public workshops. It is definitely worth a listen for livestock producers (particularly cattle folks). …