An often neglected agreement in the formation of a small business is the buy-sell agreement. Every business that has multiple owners should consider having a buy-sell agreement. Such an agreement covers how an owner can sell shares and how to value those shares. Further, a good buy-sell agreement sets forth what happens in the
Starting a Business
Hiring a Lawyer for Business Contracts
By Rush Nigut on
In my last post I talked about my reluctance to recommend do-it-yourself solutions when it comes to business contracts, Wills and other documents. I know it is self-serving but I have just seen do-it-yourself solutions come back to haunt business people too many times to count. If you are a business person you can pay…
Start-Up Business Resource: NOLO
By Rush Nigut on
Posted in Business Law, Starting a Business
As a business lawyer, I am reluctant to recommend do-it-yourself solutions. I have seen many business people run into problems with do-it-yourself contracts, Wills and other documents. With that caveat, the NOLO Web site is a great online resource.
The NOLO site covers several categories including:
Small Business Corporate Governance
By Rush Nigut on
I recently read an excellent reminder on corporate governance issues written by business and real estate lawyer Traci D. Ellis.
Ellis wrote that good corporate governance is essential to running and growing a business. Here are some of her examples of good corporate governance:
- Hold regular board of director and shareholder meetings in
…
Where Should You Incorporate Your Iowa Small Business?
By Rush Nigut on
Where should I incorporate my small business? I hear this question a lot from would be entrepreneurs in Iowa. The question used to surprise me but after seeing the numerous advertisements for Delaware and Nevada corporations on the Internet I suppose it is a legitimate question.
Delaware has reputation and history on its side. Delaware’s…
Start-Up Business Resource: Entrepreneurs’ Viewpoint Blog
By Rush Nigut on
Posted in Business Law, Starting a Business
We have started a new tradition. Every Saturday I will point out a great Web resource for business start-ups. Today is one of my favorites.
The Entrepreneurs’ Viewpoint Blog along with the Kauffman eVenturing Web site is one of the best comprehensive resources for businesses on the Web. The site contains orginal articles written by…
Saturday Start-Up Business Resource: Taxes
By Rush Nigut on
Posted in Starting a Business
If you are starting a business in Iowa you may want to review this site from the IRS and this site from the Iowa Department of Revenue concerning your federal and state tax responsibilities.
Rush Nigut in Des Moines Register Article on Franchising
By Rush Nigut on
Posted in Franchise Law, Starting a Business
I was recently interviewed for an article written by Patt Johnson of the Des Moines Register entitled, "Franchise Owners Buy a Head Start". As a part of my business law practice, I routinely review franchise agreements and Uniform Franchise Offering Circulars (UFOC).
The article featured several franchisees that are pleased with the franchise process and…
Franchise Agreements: Don’t Overlook Term, Renewal and Transfer Provisions
By Rush Nigut on
Posted in Franchise Law, Starting a Business
The term, renewal and transfer provisions of a franchise agreement are often overlooked by prospective franchisees. Many people focus on getting into the business but how you get out is just as important. Therefore these provisions must be reviewed carefully.
The term of the franchise agreement determines how long the franchisee will be authorized to…
Resources for Iowa Entrepreneurs
By Rush Nigut on
Posted in Business Law, Starting a Business
Today’s Des Moines Register Business Section contained an article by Patt Johnson featuring the assistance provided by SCORE to local entrepreneurs. SCORE is made up of retired executives that mentor and counsel new entrepreneurs.
People generally think of SCORE in the context of their one day workshops for new entrepreneurs. However, it was also surprising…