Legal

Tenancy in Partnership

Black’s Law Dictionary defines tenancy as the right to possess or occupy land.   It goes further to state: “The possession of real or personal property by right or title, especially under a conveying instrument such as […]

Business Principles Start-Up

Business Barriers

No business is instantaneously successful.   There are multiple obstacles referred to as barriers all owners and managers have to overcome.   There are three primary groups of barriers for every business out there.   […]

Legal

Joint Venture

The average person may not realize this, but the most notable joint venture in existence today is the National Football League.   It figuratively owns every Sunday in the fall of each year.  It is […]

Terminology

Economic Substance Principle

The Internal Revenue Service uses an economic substance test to identify sham transactions that exist solely to reduce or eliminate taxes.    In addition,  the courts use this same doctrine to rule on the legitimacy of activity […]

Terminology

Business Trusts

The common law definition of a business is an investment of capital or property by individuals which creates the means to carry on towards the goal of generating a profit.   Every state recognizes different legal […]