A young entrepreneur recently came to see me for some very basic, but extremely important advice. He had read many articles and watched videos on the Internet about maintaining corporate protections. He had realized pretty quickly that running a successful business requires careful planning and organization, especially when it comes to managing finances. One critical

The Corporate Transparency Act (CTA) is part of sweeping Congressional changes to anti-money laundering laws. Starting January 1, 2024, the CTA will require most small businesses and corporate entities to file a Beneficial Ownership Information Report with the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN).

Initial reports for existing businesses (those created prior

Starting a business can be a daunting task, but franchising has become a popular choice for entrepreneurs who want the benefits of owning their own business with a proven model, as well as support from the franchisor. However, not all franchisors provide the support franchisees need to operate a successful business. In this blog post

Buying an existing business is often a great opportunity for would-be business owners. It is a way to skip the early stages of business development and hit the ground running. However, before making any serious decisions, it is important to understand the legal implications involved in buying an existing business. There are many legal issues

One of the biggest concerns that business owners have is dealing with a legal or business crisis. Whether it is a lawsuit, a data breach, or other sensitive issues, a crisis can greatly impact a business. In fact, it is not unusual for many businesses to close within a year of experiencing a crisis. Knowing

If you are a business owner who is looking to sell or transfer your business, then it is important to understand the importance of effective succession planning. Succession planning helps ensure the future of your business is bright and secure, regardless of who owns it. Let’s break down what succession planning entails and how it

Big news this past week in business/employment law. The FTC is proposing legislation banning noncompete clauses. The agency estimates this could increase workers’ salaries by nearly $300 billion per year.

I’ve never been a fan of noncompete clauses for lower paid workers. But I’ve always believed there is some validity to a business protecting

You may want to own your own business but you also don’t want to quit your day job. Is it possible to find the elusive extra income to add to your bottom line and possibly even give you the freedom to quit your job in the future?

Kimberly Crossland has a great post on the

I have reviewed hundreds of franchise disclosure documents (FDDs) and franchise agreements at this point in my career. And mostly, my review always solicits one question in my mind:

Do franchisors need these overwhelmingly restrictive franchise agreements?

Most FDDs and franchise agreements disclaim just about any real obligation to do anything on behalf of franchisees.