An operating agreement should clarify expectations for how people manage and grow a company. Many disputes develop because key provisions were never addressed or were drafted without enough detail. Careful planning and clear terms can help prevent confusion when disagreements or conflicts arise within a business. A solid operating agreement can help avoid the following...
Your business name, logo, and slogans help customers recognize you in a crowded market. Protecting those identifiers helps you keep control over your brand and avoid confusion. North Dakota businesses have several tools available to secure trademark rights and reduce disputes. Understand what qualifies as a trademark A trademark can include a business name, logo,...
Hiring independent contractors can help your business stay flexible and reduce costs. You can bring in skilled workers when you need them without the long-term commitment of full-time employees. But missteps in classifying or managing contractors can create serious legal problems. Understanding contractor classification The first challenge comes with proper classification. If you treat an...
As a business owner, you probably have a lot on your plate, from managing employees to meeting deadlines and ensuring your operations run smoothly. With so much to do, it’s easy to overlook some basic yet essential aspects of your business, like the employee handbook. It may seem like a simple document, but a well-drafted...
Many business owners or entrepreneurs with a business idea look to go into partnership with one or more others. This can work out well, but it can also go badly in some cases. Before you make this move, consider the following: 1. What do you need from a partner? People typically take on a business...
The Federal Trade Commission has (expected appeals aside) pretty much ended the use of noncompete agreements in the future. Given that one out of every five workers in this country is covered by a noncompete agreement, that’s roughly 30 million employees who will suddenly have the freedom to jump to an employer’s competitor (or become...
If you’re starting a new business, you may be doing it with a business partner. Many people want to be entrepreneurs, but they know they need assistance or they want to bring on someone with other business skills, financial resources or something of this nature. They decide to start a partnership where they both work...
Accidents can happen anywhere, even in places we consider safe, like hotels. This raises the question, though, of when responsibility might fall on the hotel owner if an accident occurs on their premises. Finding the answer and establishing fault hinges on several factors that determine hotel liability in such situations. Negligence in maintenance Hotel owners...
Running a small business can be extremely rewarding both personally and financially. However, it isn’t an easy feat. Small businesses generally have to use their resources more wisely than large corporations. Occasionally, this can result in small businesses failing to avoid potential legal pitfalls. Being aware of these pitfalls could help you avoid these mistakes. Outlined...
As a new business owner who is going to be working with a business partner, you probably want to have some sort of contract in place. Many business partners will just shake hands or start working together unofficially. But it’s safer to put together a partnership agreement that can help to define the relationship. Every...
