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A legal obligation to act in the best interest of another group or person is a fiduciary duty. In the corporate context, directors and officers owe a fiduciary duty to the corporation and its shareholders. This duty requires them to act honestly, fairly, and in good...
If a business partner violates their noncompete agreement, it's necessary to act promptly. You must follow a strategic approach to protect your business interests. Review the non-compete agreement The first step is to review the non-compete agreement. Ensure that the...
If you run a limited liability company in Wilton, Connecticut, it may be time to reassess the legal framework of your business. According to the U.S. Chamber of Commerce, it is common for business owners to change their legal structure for various reasons, such as tax...
When running a business, protecting your proprietary information and trade secrets is vital to maintaining a competitive edge. One way to safeguard your confidential business information is by having your business partners sign a Non-Disclosure Agreement. Explore the...
Choosing the right legal structure for your business is one of the first big hurdles you will face as an entrepreneur. If you choose to form a corporation or an LLC, you will likely weigh the decision of working with a local lawyer or using an online incorporation...
Choosing to become an entrepreneur can bring with it a lot of excitement. That said, it may not always feel like a simple path. Although it can be very rewarding, entrepreneurship often brings with it long hours working in a field that few, if any, others have worked...
One of the first things any new business owner must do is choose what type of business entity is best for the business. Each type has advantages and disadvantages. Forming your business as a limited liability company or corporation can be beneficial for several...
When you and your business partner launched your company, you remained had high hopes and aspirations. Success would come if you worked hard, understood the changing market and relied on a little bit of luck. Well, it worked out like that for a while, but not as long...
Succession planning is a critical component in preserving the longevity and continued success of an organization. Business owners can identify personnel weaknesses, training needs, staffing needs and which managers should be slotted into expanded positions....
As a skilled businessperson who understands markets, the need to be a visionary and relationship builder as well as how to succeed and knowing when to fold, you are used to calculated risks. You see solid growth on the horizon for your company, and, now, you consider...
