When you decide to form a business, one legal entity type you can choose is the corporation. The corporation is one of the more complex but also one of the most trusted legal business forms. A key consideration is the way a corporation is managed: it has an intricate structure, built-in oversight, and a somewhat flexible ownership scheme. Corporate structure …
When starting a business, a business owner must first choose which type of entity to create. Two of the most popular entity types are the limited liability company (LLC) and the corporation. Choosing between these two types of entities can be difficult for business owners who are not familiar with the unique features of each type. To choose the right …
One of the first decisions to make when starting a business is what type of business entity to form. The limited liability company (LLC) is one of the most popular business structures because it offers a level of flexibility and legal protection that is attractive to many people who are starting their own businesses. The following six steps will help …
This helpful chart for Illinois business entities was used for a speaking engagement last spring with Illinois Farm Bureau. It illustrates some of the major differences among different choices of business entities in Illinois including but not limited to sole proprietorship, general/limited partnerships, limited liability companies (including series LLC’s), and corporations. I’m a visual person so I love charts and …
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, …
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 …
Last fall I spoke at the American Agriculture Law Association (“AALA”) 32nd Agriculture Law Symposium on partnership agreements for farms and ranches. Although there is likely a better choice of entity, general partnerships are common among the agriculture community and easily overlooked when there is a good relationship among the partners (or family members). Even so, I highly recommend memorializing …
I spoke last month on sustainability in “Big Agriculture.” It got me thinking. What exactly is “Big Agriculture?” How do we define what is or is not “Big Ag?” And when did it become a bad name? Is it whether a farm is owned by a family or a corporation? 97% of farms are family owned. What if shareholders of …
I’m excited for my new webinar series titled “Fridays with Cari.” I will be discussing a variety of agriculture issues with my Friday webinar series ranging from livestock animal cruelty law to estate planning. I believe that legal information should be affordable for everyone in the food and agriculture industry and I hope that my webinars will be educational to …
Seems like just yesterday I was driving across South Dakota with my dog Taylor before starting Rincker Law, PLLC and this blog. It’s been a great ride so far. Big thank you to my friends, family, colleagues, contract attorneys/legal assistants, clients and blog readers for all your support. It’s been a busy year indeed. Over the last year, I am …