Business Disputes 101: Equity for Services Performed and Raising Capital
It happens every day: friends go into business with one another, and invariably, one friend has more (if not all) startup capital than the other. In such a situation, equity is often distributed based on capital contribution and services performed. Unfortunately, the partnership agreement, operating agreement, bylaws or other operational documents rarely address what happens when a “services” partner fails to perform his or her services or performs these services at a level that is unsatisfactory to the other partners.
Does My Commercial General Liability Insurance Protect My Business? Short Answer: Not Much
Our city has a proud and diverse group of entrepreneurs. From clothing boutiques to juice bars and everything in between, businesses are open to the public around the clock. To business owners, this means money. To lawyers, this means lawsuits! We are paid to protect you, and if necessary, fight for you. We prefer the former (well, some of us do), and a huge tool in our arsenal is a strong commercial general liability policy (CGL).
Which Business Entity is Right for You?
One of the most important decisions you will make when starting a new business is deciding what type of business entity your business will be. In order to avoid unlimited personal liability business owners can form a C-Corporation, an S-Corporation or an LLC and shield their personal assets.
Should I Start My Own LLC?
Summer is here! A nostalgic reminder of summer vacations, summer jobs and lemonade stands. Even as kids, we all had an entrepreneurial spirit in us. Today it may be setting up e-shop on Etsy.com or starting that house-flipping company. No matter where your interests and creativity may take you, there are some very important threshold considerations to become familiar with before starting a business.
Alternative Dispute Resolution Gaining
The use of ADR (Alternative Dispute Resolution) to settle commercial disagreements before engaging in a civil trial is gaining popularity. While not every disagreement can be settled this way, for those that can, NeJame Law attorney Tom Sadaka has experience using ADR to save time and money — for both parties.
Solving your collection problems
There is no question that the economy is in a recession. In this current economic environment, your business has undoubtedly experienced difficulty in the maintenance of regular accounts receivable collections.