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...
Business Law
What is civil litigation?
Many people are aware of the word litigation, which is the legal term for the process of going to court to settle a dispute. It may occur in front of a judge or a jury and a judge. There are two main types of litigation: criminal and civil. Civil litigation refers to...
Fraud can involve criminal charges or a civil lawsuit
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...
Be wary of these red flags when negotiating a contract
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...
Is it time to end a business partnership?
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...
Interested in venture capital financing?
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...
What is fiduciary duty?
Ads about investing or banking will often use the term fiduciary duty, but the average person may not know what it means. Someone's fiduciary duty is a wide-ranging obligation where a business and its staff are obligated to support the best interests of a client...
Is it smart to sue a former business partner?
A business partnership often begins with dreams of long-term success, but not all of them last. Like a marriage, they sometimes do not work out because of differences of opinion, moving towards different goals or incompatibility. This can lead one partner to go off...
Non-compete agreements need to focus on business interests
Those coming into a company will often sign a mountain of paperwork. One of the documents in that pile is a non-compete agreement. The company’s goal in asking employees to sign these agreements is to restrict competing businesses from poaching company talent as well...
Equally dividing a family business can be a mistake
Most parents take great pains to ensure that they give each child the same about of love and attention. Therefore, it should come as no surprise that business owners here in Colorado often try to pass equal shares of the company or business to their children, whether...