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Small businesses are the backbone of the American economy, but about 77% of small businesses also have family members involved. These facts mean that three of every four small businesses are family businesses. While many businesses do not make it past the first few...
Renting out a commercial or residential space involves certain expectations from the landlord. The lease outlines the agreement's terms and conditions in writing. For example, the landlord expects payment of a specific amount at predetermined times, such as the end of...
Prenuptial agreements were once typically reserved for the super-wealthy. Over time, however, the arrangements have become increasingly common for a broader cross-section of people. Common premises for using one often involve couples getting remarried later in life...
Running a small business involves a wide range of challenges. These include drumming up new business, working with vendors, remaining compliant with all applicable regulations, and managing day-to-day operations. Many owners do this with the help of employees. A...
Builders, contractors and others in the construction industry don't do any work without a signed contract. When determining costs, they may use a basic scale for hourly wages or bid on the job and provide a total. The latter format is known as a fixed-price contract....
Parents do their best to love their children and treat them equally. This often carries over to a business succession plan where each child gets an equal share in the business. It may make the most sense on paper, but it could be a mistake. Equal shares can be a...
Fraud refers to using intentional deception to gain something of value. It can involve false statements, dishonest conduct or misrepresentation. Depending on the nature of the fraudulent behavior and its consequences, fraud can be either a criminal law case or a civil...
Contract negotiations involve two or more parties working towards a fair and equitable business arrangement. Whether it involves business partners, vendors, employees or customers, the sides likely differ on what fair and equitable means, so the parties must negotiate...
The right business partner can help create chemistry where the sum is greater than the individual partners involved. Ideally, it leads to a long, fruitful relationship as everyone works towards a common goal with an equal commitment. As with any relationship, business...
Those who plan to launch a business typically need to secure funds. Fortunately, there are various options, ranging from obtaining a bank loan to crowdfunding. Some business owners will even turn to venture capital financing. However, there are some key issues to...
