Legal

Businessecon.org

INTRODUCTORY SLIDESHOW

Click on the link above, and get a quick 4 slide show of how this site works.

 

This page is dedicated to the legal aspect of owning a business.  THERE IS NO SUBSTITUTE FOR GOOD LEGAL ADVICE.  I am not an attorney and I advise you to seek out an attorney when addressing legal matters for your small business.

The articles below are designed to inform and educate a small business owner. If you are looking for a quick and direct answer, in business there are very few. When you are talking about the law, there are a lot less direct answers. So read with an eye towards learning.

Most of the articles are written about the different forms of legal status for a small business.  Included are articles about the respective Articles in your standard agreements within the entity format.  I expect this to take several years to complete as business formation is complicated.  So if want to know something specific, ask me; I’ll write an article about the subject.

Any feedback would be appreciated, send me an e-mail via dave(use the standard ‘AT’ symbol)businessecon.org.  

FEATURE ARTICLES:

  • Non-Disclosure Agreement (NDA) – Introduction

    Non-Disclosure Agreement (NDA) - IntroductionA document used to protect the secrecy of information is called the non-disclosure agreement or NDA.   With business, it is customarily a legal contract signed by employees, owners, vendors and in some cases customers.
  • Tenancy in Partnership

    Tenancy in PartnershipTenancy in partnership is an important principle in understanding an individual partner’s ownership right as it relates to the partnership and the law of partnership.   Does he own the assets jointly or as tenants in common?
  • Joint Venture

    Joint VentureThe 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 an association of 32 clubs agreeing to compete with each other, i.e. engage in athletic entertainment.  Each venturer is its own ...
  • Forms of Business Ownership

    Forms of Business OwnershipWhen an entrepreneur starts out on his long journey of building a legacy with his business; he almost immediately focuses on the legal status of his business.   His thoughts include:  ‘Should I become a limited liability company or an S-Corporation?’;   ‘What if I take on partners?’; ‘How do I get more capital without giving up ...
  • Corporate Documents – Introduction

    Corporate Documents - Introduction‘The job isn’t done until the paperwork is complete’, a popular axiom used especially in business.   It identifies with the requirement that every corporate entity maintain its legal status and understanding between all investors and the management team.  These understandings are the essence of the “formation” of the corporate entity.  Failure to do the paperwork ...
  • Aggregate and Entity Theories of Partnership

    Aggregate and Entity Theories of PartnershipA partnership is defined as an association of two or more persons to carry on as co-owners a business for profit.  The premise is built around the notion that the combined power of the partners exceeds the sum of the value the partners could generate independently.
  • Cross Purchase Agreements – Business Issues

    Cross Purchase Agreements – Business IssuesTo prevent an uncomfortable and embarrassing separation, the owners should agree on how to separate before joining together.  Very similar to a prenuptial in marriage, a ‘Cross Purchase Agreement’ identifies the various business issues to address such as valuation of the ownership position, the respective form of purchasing the departing ownership and time period of ...
  • Limited Liability Company – Step By Step Setup

    Limited Liability Company – Step By Step SetupThere is multi-step process to establish a Limited Liability Company (LLC).  You must first be recognized by the state of origin and then apply to the Internal Revenue Service to identify the particular tax entity arrangement.  Both recognition processes have several steps involved.  This article guides the entrepreneur through each of the steps to create ...
  • Limited Liability Company – Introduction to Basic Principles

    Limited Liability Company – Introduction to Basic PrinciplesThe Limited Liability Company or LLC is really a fusion of two forms of business entity status.  Each has unique positive attributes and legal protections.
  • Partnership Agreements – Managing, General and Limited Partners

    Partnership Agreements – Managing, General and Limited PartnersEvery partnership consists of at least two or more partners.  In many partnerships, there are dozens of partners.  Each partner is classed into a particular group.  There are Limited Partners, General (sometimes referred to as Operating) Partners and of course somebody who is in charge – the Managing Partner.  Each of these classes of partners ...

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