Transferring the Family Business to Family Members
When families of business owners get together, whether for holidays or family celebrations, sometimes discussions turn to the future ownership of the business. This blog will look at various considerations important to the transfer of a family business within the family. Overriding considerations in... (Continue reading...)
DAVID V. GOLIATH- Rights of Minority Shareholders
Just because someone may not hold a majority interest in a corporation does NOT mean they are without rights with regards to the operation of the company. General rules of governance All management is vested in directors[1] Directors are elected by shareholders[2] Unless there is a provision in the... (Continue reading...)
Year End Action Items for Business Owners
The end of the year can be a busy time for most business owners, so we’ve created a list to help you make sure your business is ready for the New Year! Internal Documentation: Review your Minute Book FIND IT! Is it up to date? Have officers and directors been properly authorized? Have significant... (Continue reading...)
Tips to Avoid a Lawsuit
Overview In general, there are two basic principals: Get it in writing (it’s the friendliest way to do business!) Communicate Sources of liability Employees Customers General Public Avoiding Lawsuits from Employees Adopt/Establish internal WRITTEN policies and procedures Have a written... (Continue reading...)
What You Need to Know Before Purchasing a Franchise
Why a consider purchasing a franchise Proven business model Market recognition Advertising strength Might be easier to finance A “Franchise” is an oral or written agreement, either express or implied, which provides all of the following[1]: Grants the right to distribute goods... (Continue reading...)
Business Divorces
Business is like a marriage In the beginning everything is rosy and the business will be successful and the co-ownership will last forever. More of your waking hours are spent in the business than anywhere else. Problems occur: Between co-owners With the operation of the business What’s the... (Continue reading...)
How to Avoid Problems in Buying and Selling Your Business
Last night, Tom Kutz and I explained how to avoid problems in buying and selling your business on Insight on Business-The News Hour. Click the link below to listen to our interview. http://insightadvertising.typepad.com/insight_on_business/2015/09/legal-thoughts-on-buyingselling-a-business.html Read More
What Do Your Internal Corporate Documents Really Mean?
Tom Kutz and I were back on Insight on Business – The News Hour with Michael Libbie again to answer the important business questions that everyone should know. Between bylaws and minutes, do you know what your internal corporate documents really mean for you and your business? Click the link to... (Continue reading...)
Life or Death Decisions: Power of Attorney for Health Care v. Living Will
Do you know the difference between a Living Will and a Power of Attorney for Health Care? The difference is extremely important to know when it comes to your estate plan and making sure you’re putting power in the right hands. There are two fundamental differences between a Power of Attorney for Health... (Continue reading...)
Yes, Lawyers CAN Have Fun, Too!
Last night, Kreamer Law Firm, P.C. sponsored the beer serving tent for the Historic Valley Junctions event/concert, Music in the Junction. And let me tell you, it was a great night! The weather was perfect, the music was great, and Tom Kutz and I had a blast handing out koozies and beers while showing... (Continue reading...)
