I was having my “Miracle Morning” this morning and catching up on the the news. I came this article in USA Today by Rhonda Abrams titled “8 Keys to Running a Family Business.” When I hear “family business,” I cannot help but think about multi-generational food and agriculture businesses. Here are Rhonda’s tips: Decides who does which job. Like a …
Are you a “DBA” in Illinois?
There are several food and agriculture businesses that are a sole proprietorship or general partnership that operate as a DBA. For example, my own cattle business is really Cari Rincker d/b/a Rincker Cattle Co. My parents’ cattle operation is Curt & Pam Rincker d/b/a Rincker Simmentals. DBA’s are ubiquitous in the food and agriculture industry. However, have you cross your …
Farm Machinery Leases
Leasing farm equipment, rather than buying it, may be appropriate when the equipment is only needed for a short period of time or if the value of the equipment will be low after the intended use or if the farmer is limited by income or funds. The following terms are what should be included in the lease for lease of …
Some Considerations for General Partnership Agreements
Happy Post- Thanksgiving Break. I ate a lotta turkey down in College Station, Texas over the weekend. So I’ve been getting a lot of questions about partnership agreements lately. A partnership arises when two or more people agree to share in the profits and losses of a business. Oftentimes in business, especially in the food and agriculture industry, partnerships are …
Shhhhhhh– Some Considerations for Those Pesky NDA’s
In many types of business agreements, including agricultural ones, it is important for parties to be able to safeguard information they wish to remain secret. Non-disclosure agreements (“NDAs”) can be helpful in ensuring that information stays between the parties of the agreement. Put simply, there are two types of NDAs: bilateral and unilateral. A bilateral NDA is one where both …
Lawline Presentation on the Veterinary Feed Directive
I gave a presentation a few weeks ago on the Veterinary Feed Directive via Lawline. You can listen to the video below; however, if you would like to get a copy of my presentation materials (and get CLE credits for you lawyers!) then please register with Lawline here. I break this presentation into 2 parts: (1) I review the background …
Overview of Farm Leases
For farmers purchasing land is not always an option or the best option for their purpose. In those cases, leasing land may be a better option. For leasing land, there are multiple options: 1. Cash-Rent Leases: A cash rent lease is where the tenant usually pays a fixed dollar amount in rent and it may be modified based on crop …
A Few Considerations For Stocker Cattle Contracts
A stocker cattle contract is used when a cattle producer wants to hire someone to feed out the progeny through weaning. There are several issues to consider when a cattle producer hires a stocker feeder after the progeny are weaned. Here are just a few considerations for the stocker cattle agreement: • Feed and Nutrition: This section should include pasture quality …
What Livestock Producers Should Know About the Veterinary Feed Directive
In June 2015, the Food & Drug Administration (“FDA”) promulgated the second Veterinary Feed Directive (“VFD”) affecting livestock producers that use medicated feed and water. The final rule became effective in October 2015 transitioning Over-the-Counter (“OTC”) drugs to be VFD through January 1, 2017. This requires veterinarians to have a Veterinary-Client-Patient Relationship (“VCPR”) and use a VFD to prescribe the …
Farm Machinery Purchase Agreements
Buying farm machinery is a long term purchase and there are multiple ways to go about obtaining the equipment: 1. Outright Sale: An outright sale occurs when the ownership is transferred to the buyer and the seller is paid in full at one time. 2. Installment Sale: The buyer obtains immediate possession and use of machinery, but seller obtains payment …
Custom Feeding Arrangement Agreements
A custom feeding contract is between a livestock owner and a livestock feeder with market animals. The following information should be included in the contract: 1. Identification of Livestock: This includes type, weight, sex, and breed/color of the livestock. 2. Feeding and Nutrition: The contract should specifically detail the feeding regimen, including the type of feed, feeding schedule, access to …