There are billions of potential business partners out there. While you are unlikely to get the choice of that many, you still have ample options. So, how do you narrow down your search and find the right one? Here are some tips to help you choose: Do you really need...
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Business law
2 important legal steps for startup companies
Starting a new business is a brave step and it can be very rewarding for business owners both personally and financially. Nonetheless, the reality is that many startups fail within the first year. There are several reasons for this, but sometimes it’s as simple as...
Pros and cons of choosing a similar business partner
If you’re interested in starting a business, doing so with a business partner can be beneficial. They can make your business stronger and more likely to succeed. Of course, choosing the wrong business partner can also make your business less likely to succeed and...
Shielding your LLC: 5 ways an operating agreement can help
Every person who owns a limited liability company (LLC) dreams of long-term success. But have you secured a sturdy foundation for your company? An often-overlooked yet advantageous step is crafting a solid business operating agreement. While not a legal requirement in...
How can you encourage customers to pay on time?
It’s a common misconception that running a business is easy. It’s not as simple as establishing the company and watching the money roll in. In all likelihood, there are going to be occasions where customers won't pay you for the work that you have done. This may be...
Can business owners change a company’s type without dissolution?
One of the most important decisions someone can make when starting a business involves the type of business that they create. A business's structure influences everything from tax obligations to personal liability. The average entrepreneur puts a lot of thought into...
Common mistakes startup businesses should avoid
Starting a new business is an exciting venture but can also be full of challenges. To ensure your startup's success in the Bluegrass State, avoiding common pitfalls is crucial. Here are some mistakes startup businesses should avoid. Neglecting legal compliance One of...
3 warning signs your business partnership is likely to fail
When it comes to picking a business partner, you have to be savvy in your quest. The last thing you want is to team up with a partner who does not share the same ideals as you. Sometimes, however, things don’t always go to plan. So how do you know the business...
What occurs during a shareholder freeze-out?
Shareholders typically play a very important role at a corporate entity. They invest in the business, which helps the company grow. They also have certain rights that can help influence the direction that the company takes. Shareholders may attend meetings where they...
What’s the best strategy for dissolving a business partnership?
In the ever-changing business landscape, partnerships sometimes reach a point where they no longer align with the goals and vision of the involved parties. When this happens, it can become necessary to dissolve the partnership and explore new opportunities that better...