For the love of your business

Articles to LIFT Your Life and Business

How to Approach Buying an Existing Business

Buying an existing business is a great way to hit the ground running in the world of entrepreneurship. Because an existing business already has a legal structure, employees, a customer base, and is making a profit, you get to skip over one of the most challenging aspects of owning a business – starting it. But […]

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Do Your Employees Get a Mandatory Raise This December 1?

If your business is covered by the Fair Labor Standards Act (FLSA), you may be required to give all of your salaried employees who perform executive, administrative or professional (EAP) duties a raise. As of December 1, 2016, the new minimum wage for full-time salaried workers is $913 per week. Previously, the minimum wage was […]

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Trade Secret Law Reform: The Basics

Many businesses maintain an industry advantage through control and utilization of trade secrets. Be it a formula, a design, or a process, trade secrets can provide advantages over the competition. Not surprisingly, trade secret misappropriation is a serious concern for many businesses. Until recently, it’s been state law at the forefront of regulating and protecting […]

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Insurance Considerations for Small Businesses

Opening a small business brings excitement as well as uncertainty. As a small business owner you face many risks, but there are steps you can take to protect yourself against them. Obtaining insurance coverage is one big way you can protect your small business and help minimize many of the risks you face. The kinds […]

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What Happens to Your Business Facebook Page if You Die?

If your business is on Facebook, you may wonder what happens to your Facebook page in the event of your death. To ensure someone you choose can take it over, you’ll want to make sure you’ve got your legacy contact set up for your personal page and another administraor set up for your business fan […]

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Can a Married Employee Name a 401(k) Beneficiary Other than a Spouse?

It can be very difficult for you, as an employer to manage a 401(k) retirement plan for your employees properly. Federal law is replete with mandates, including when employee funds must be remitted and statements made available to employees. One area you may not have considered is how to handle a married employee’s 401(k). Federal […]

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Drone Use in Business: What’s Likely and Legal?

In June, the Federal Aviation Administration (FAA) released its operational rules for the commercial use of drones, also known as unmanned aircraft (UAS). These rules provide clarity for businesses who may be contemplating the use of drones for commercial purposes. Perhaps the most well-publicized intended use for drones came from Amazon, the online retail giant. […]

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Can I Force My Employees to Arbitrate Our Disagreements?

Many employers ask what they can do to avoid lawsuits. One of the best ways businesses can be more proactive in avoiding legal disputes and their attendant costs is to implement arbitration clauses as part of their employment contracts. Arbitration has traditionally been viewed as less expensive than litigation. While that’s not necessarily true in […]

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Do We Really Have to Write It Down? Which Contracts Must Be in Writing?

Have you ever wondered which types of contracts must be in writing to make sure you get the benefit of your bargain? All of the U.S. states have some form of what is known as the “Statute of Frauds.” Under this law, or laws, some contracts must be in writing to be enforceable. The Statute […]

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Departing Employees and Trade Secrets: Minimizing the Risk

You’ve worked hard to build your business. You’ve developed products or services and the processes, policies, and strategies which drive them. So what do you do when a key employee tells you he/she will be leaving? How do you protect the business systems you’ve worked so hard to develop? Hopefully, you had your key employee […]

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Overcoming Small Business Challenges through Operational Strategies

As with so many things in life, some of the same qualities that help small businesses succeed, can also lead to their demise. Fortunately, much of that risk can be lessened through operational excellence. For example, the owners and managers of small businesses often know each other before they go into business together. Sometimes, they’re […]

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