I am frequently involved with the purchase and/or sale of a business. Often the purchaser discovers the business through a business broker. In the Des Moines area, it seems as though several of the business brokers convince prospective buyers to make an offer before seeking legal advice or reviewing the basic terms before the offer is signed. (i.e. price, financing terms
Iowa LLC Law has Key Changes
In his new blog, Marc Ward of the Dickinson Law Firm, sets out some key changes to the new Iowa LLC Act. One important issue to remember is that by default under the current law, Iowa LLCs are member managed unless unless the articles of organization or the operating agreement provides for management by manager(s).
Writing the Better Contract from Anita Campbell- Part II
Former general counsel and small business owner, Anita Campbell, offers sage advice in her post on the Build a Solo Practice Blog about how to write a better contract . What is the better contract in Anita’s view?
- First and foremost, the better contract protects the client.
- The better contract is written in plain
SBA and FranNet Team Up to Offer Online Training for Franchising
The Small Business Administration (SBA) and FranNet have teamed up to offer an online training course for those interested in franchising.
The free online course on franchise basics provides three key sections that examine more than 10 essential areas relating to franchising, including Whether Franchising Right for You and How to Choose the Right
How to Write Contracts for Business People
Anita Campbell of Small Business Trends shares her thoughts about how to avoid the contract from hell on the Build a Solo Practice site.
As a former general counsel and now a small business owner, Anita has been on both sides of the fence when it comes to contracts. According to Anita, here are some things
Franchising? Check Out These Resources
Teri Rasmussen of the Ohio Practical Business Law Counsel blog has gathered some excellent resources for those who are interested in pursuing a franchise to start a business.
Thanks to Teri for referring to a couple of my blog posts but I also recommend checking out the Small Business Administration’s consumer guide to buying
Notify Insurers Immediately About Claims
In a recent blog post, Daniel Schwartz of the Connecticut Employment Law Blog reminds employers just how important it is to notify insurers under their employment practices liability insurance.
This advice is not just critical in the employment context. It is vital for every type of insurance your business may have. If a claim
Business Estate Planning & Charitable Giving
Do you have an estate plan? It has been reported that approximately sixty percent of people in the U.S. do not have a will. Of course having a will is critical if you have children but let’s not forget about another baby – your business.
As the owner of a closely held business much
Franchise Due Diligence: Ask what they don’t do well
One of my franchisee clients offered a very simple question that every prospective franchisee should ask of other franchisees when conducting due diligence:
What doesn’t the franchisor do well?
He says this evoked the best responses from franchisees when he conducted his due diligence. If you are considering a franchise be sure to talk to
Overdocumentation in Employment Cases
In last week’s Tip of Week (yes, I am a little behind), John Phillips of the Word on Employment Law raises the interesting perspective that it is possible to overdocument in employment cases.
Some of John’s warnings on overdocumentation include:
- Documentation on trivial matters.
- Creating a paper trail right before an employee is terminated.
- Documenting