Business Relationships
June Business Bytes
This month’s Business Bytes highlights side hussles, employees’ social media and new class action targets. Don’t Let Your Side Hussle Sideline You. As one of the owners of a business, your side job or employment outside of that business could pose...
New Restrictions on Employment, Severance and Separation Agreements
While most employers are not obligated to provide severance to properly terminated at-will employees, no improper discrimination, contract obligations or retaliation involved, they often offer some form of severance conditioned on the terminated employee signing a...
Independent Contractors/Salespersons
With the expanding gig economy, increased use of independent contractors and enhanced enforcement of employment laws, businesses should be aware of the many laws and regulations that impact these relationships in order to avoid problems, including suits,...
What is the Difference Between Creditor Workouts and Bankruptcy?
Unfortunately, many businesses are confronted with extraordinary losses and may be forced to choose between a creditor workout or a reorganization bankruptcy in order to survive. Some of the differences between workouts and bankruptcies include. Timing. A creditor...
Valuing a Small Business for Sale
When the owner or owners of a closely held small business decide its time to sell or are approached by a potential buyer, the first order of business should be determining the business’ value or the value of the selling owners’ interest. Innumerable factors are...
Supply Chain-Force Majeure
The recent troubles with acquiring inventory, unexpected price increases, delivery delays and product shortages caused problems for many businesses. It also highlights that it is a good time to review your agreements, purchase orders, invoices, and other contract...
Buy/Sell Agreements for Small Businesses
Each business, or at least its ownership, has a life cycle and particularly with multiple owners it is important to consider at the business’ inception how the business may end or an owner leave. While the law provides a mechanism to end a business or one’s ownership,...
Business Succession
Your business supported you and your family, and when it’s time to retire, proper prior planning can enable it to also support your retirement. Successful business succession planning should begin well before you are ready to retire in order to maximize value for you...
Employee Non-Compete or Non-Solicitation Agreements
Any employer that uses or is considering using non-competition or non-solicitation agreements with its employers needs to review them prior to January 1, 2022, when a new law takes effect that can not only negate such agreements, but expose employers to damages,...
Guaranties, Non-Recourse Debt and Limited Liability
Whether it’s a corporation, company, limited liability entity, limited partnership, partnership or business trust, business owners are encouraged to form and use some type of business entity to limit their personal liability exposure, creating a firewall to prevent...
