Small Business

More than Meets the Eye: Maintaining your S-Corp

After one starts a small business, he or she usually chooses to operate it as a corporation. If one doesn’t do this, the business is operated as an individual, and the owner’s personal assets are not shielded from business creditors. However, in order to maintain S-Corp status (a business’ corporation...

Do you really own your app?

Are you developing a new app, but using someone else to write the code? A "work for hire" contract isn't enough. Make sure you get an assignment of ownership from your developer. This is to avoid "phantom founders" that later may come back to get a piece of the...

Let’s Put It In A Box

Fear, intimidation, uncertainty … This was just a sampling of what was experienced in law school and the subsequent practice of law in the years after. It takes time to get your legal legs under you. Did you have a father, mother, or other close family member available to...

FLSA Changes Are Here!

Changes to the FLSA – White Collar Exemption The U.S. Department of Labor’s long-anticipated “Final Rule,” regarding changes to the Fair Labor Standards Act (FLSA) was finally issued on May 18, 2016.  It updates the federal white collar overtime exemptions by raising the minimum salary required to qualify as an...

Are you ready? — Wage and Hour Changes

Will I have to start paying overtime soon?   Astute employers are reviewing available options to mitigate the potential economic impact of the imminent release of new federal Fair Labor Standards Act overtime regulations. The Department of Labor estimates that average annualized direct employer costs could total between $239.6 and...

Franchise?

What is a franchise business? What does a good franchise agreement look like? Most likely, you have driven by many franchises in your own town or city. Examples of well-known franchise business models include Subway, UPS, McDonalds, and H & R Block. In the United States, there are franchise business opportunities available...

Buying A Business?

Once you and your business buyer negotiate the fine points of a deal, it’s time to schedule the sale closing. A few easy steps will help you lay out what you need to do in advance, during, and immediately following the big day. Step 1. Prepare for Closing Day Here’s a...

Arbitration vs. Litigation

Should I include an arbitration clause in my contracts?  Here are several factors you should consider when deciding whether to incorporate a mandatory arbitration clause into that contract you are drafting. 1.  Price Arbitration is not necessarily less expensive than litigation; instead, the opposite may be true. Not only is the...