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Articles to LIFT Your Life and Business

What Business Owners Need to Know About Verbal Agreements

It is a common misconception that oral contracts are not enforceable. It is true that certain agreements must be in writing to be enforceable. For example, the statute of frauds requires agreements involving real property, marriage, performance over multiple years and the sale of goods over $500 to be in writing. If an oral agreement […]

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Could Your Email Form a Binding Contract?

The Internet has changed the way businesses negotiate, review and revise their contracts. Sending emails back and forth can make the process faster and more convenient, but you should be aware that it can also lead to inadvertent liability. The use of electronic evidence or digital data has drastically increased in courtrooms across the country. […]

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Why Every LLC Needs an Operating Agreement

Many business owners make the choice to operate as a limited liability company (LLC) for the personal liability protection this business entity provides. Beyond that, they may not give much thought to creating an LLC operating agreement since most states have LLC laws with default provisions that dictate how the LLC will be managed. However, […]

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These 3 Legal Risks Can Bust Your Business

While there is no such thing as a business with no risk, most savvy business owners look for ways to mitigate risk as much as possible. Being aware of these three legal risks will create an understanding for the future of your business. Trusting a verbal or handshake agreement. This is more common early in […]

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5 Situations Where You Definitely Need A Creative Business Lawyer®

Every business owner at one time or another needs legal advice.  While it may be tempting to turn to the Internet for your legal needs, there are three important instances when you will want to consult with a real live Creative Business Lawyer®: Entity Formation When you are ready to start your business, you will […]

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What Happens When a Goliath Takes Your Trademark

Terri Kelly, a mother of six who started her “second life” as an entrepreneur designing comfortable flip-flops, did everything right when she launched her company.  First, she designed a great product that addressed a market need.  She worked tirelessly to get her product into shops, boutiques and local stores.  And she trademarked her unique branding […]

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10 Reality Checks to Investigate Before Starting Your Own Business

Before you consider in a new startup, you should understand that there is quite some distance between a great idea and a great company.  As part of your due diligence, perform these reality checks before you spend your savings on starting something new: Are you ready for the entrepreneurial lifestyle? Entrepreneurship is not a get-rich-quick […]

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8 Asset Protection Strategies for Business Owners

One of the biggest risks small business owners take is not properly protecting their personal assets from business liabilities or judgments.  In a recent Entrepreneur.com article, Mark Kohler, author of The Tax & Legal Playbook, offered these 8 asset protection strategies for business owners: Choose the right business structure.  Operating as a sole proprietorship offers […]

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6 Legal Snares That Can Sink Your Startup

Entrepreneurs often make up in enthusiasm what they lack in business experience, but passion alone is not enough to ensure the success of a startup.  If you’re starting a new business, you need to watch for the following six legal snares that could potentially sink your startup: Lease agreements. A commercial lease is much different […]

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7 LIFT (Legal, Insurance, Financial and Tax) Prerequisites for Starting A New Business

As lenders ease credit conditions following the Great Recession, new business formation in the U.S. is on the rise. If you are starting a business in 2015, be sure you pay attention to the following prerequisites: Discuss with legal counsel which corporate structure is best for your business: sole proprietorship, partnership, corporation (C or S), […]

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Legal Considerations for Launching a Home-Based Business

According to the U.S. Small Business Administration, more than half of small business startups in the last 10 years have been home-based.  Whether you are contemplating setting up shop at home as a consultant, a baker or a handy man, there are certain legalities that need to be considered to ensure you have protected yourself […]

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