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Benefits of a Family Limited Partnership

People don’t build businesses intending for them to fail. They build them to succeed, grow, and provide for their families. The more they succeed, the greater the risk of liabilities, including taxes, to the heirs of the business owners.

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The Importance of Indemnity Provisions

Indemnity clauses are often included in business contracts in order to allow an indemnifier to hold liability for any injuries, damages, or losses incurred by a party in the contract. The indemnity clause will require the indemnifier to compensate the other party to the contract for recoverable damages from third-party claims.

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Creating a Business Succession Plan With Buy-Sell Provisions

You’re running a successful business but nearing retirement age. You’ve yet to figure out what to do with the business when that day comes. Sell it, turn it over to a family member, or groom an employee to run things?

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The Importance of Shareholder Agreements for Corporations

Many people starting out in business will opt for a corporate structure to lessen personal liability, but if the corporation has more than one shareholder – the person forming it – it then becomes either a closely held corporation or a publicly traded corporation.

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Understanding Business Liability Insurance Coverage

When you own a business, it is wise to protect it from liability that could destroy what you have built in a single claim. Liability insurance is a smart investment, and with a median annual premium of $500 to insure a small business, it is affordable.

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Filing a Fictitious Business Name and Protecting Intellectual Property

Thinking of starting a business in California but not sure of all the requirements or how to go about securing all your legal protections? You’re not alone. There’s a thicket of federal, state, and local organizations, all with requirements of their own, and it’s difficult for the new entrepreneur to know where to start.

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