We've mentioned operating agreements in a few blogs, and we thought we'd go over it in more detail in this entry. What is an operating agreement and why does my LLC need one? An operating agreement is a key document for an LLC with a sound legal foundation. An agreement that is acceptable to all managing members of the LLC, even if you are a sole member of the LLC, will help your business run as it was intended. Well written operating agreements should give the LLC members peace of mind. We'll map out the basics of a good operating agreement below.
Company holiday parties are a customary and traditional way for employers to show appreciation to their hard-working, loyal employees. It's also a great way to boost company morale and create a better work environment. However, there are instances where the best of intentions can backfire and create big complications! As fun as company holiday parties may be for everyone, it can be a breeding ground for legal issues. Unfortunately, it can even lead to some of those loyal employees losing their jobs. There are many potential party pitfalls to consider. In this blog, we'll cover the more common minor mishaps as well as major ones.
Signing a commercial lease as a business owner should not be taken lightly. A business owners' biggest expense may be a store-front or office space when they are first starting out. Like any contract, it may be too late to make any changes to a commercial lease once you've signed it. A commercial lease is a legal, binding document that may prevent you from growing your business - or worse, run it into the ground. Here are four simple things to consider before signing your commercial lease.
There are many reasons to invest in a start-up. Small-business investments have been one of the more popular ways individuals and families begin their journey to financial independence. The right investment, in the right company, at the right time can be very lucrative. That being said, there is a possibility of losing your entire investment without ever seeing a profit. Working with an investment broker is one way to go about the investment, but there are many investments that happen privately. Most small-business investment opportunities come from friends, family, colleagues, or by word-of-mouth. If you ever find yourself with an opportunity to invest in a business, we would suggest you tread carefully. Here are some things to remember when preparing to invest in a start-up company.
There are many things to keep track of as a business owner. One of those is your business's current status with the State of Nevada. Keeping an eye on your standing with the state is simple but it's not uncommon for businesses to find themselves in default or revoked status. There are also business owners that find that their business has run its course and decide to dissolve the entity with the state. There is clearly a difference between dissolution and revocation. What are the differences and is it okay to let a business be revoked?
The range of nonprofit organizations in Nevada is ever growing. It's no secret that nonprofits are eligible for a federal tax exempt status and this makes forming this type of entity popular with potential business owners. But the increasing popularity has also brought more dishonesty. In the current climate of nonprofits, with news stories of organizational corruption increasing, the Internal Revenue Service began to narrow its focus on the organizations and excess benefit transactions.
While corporate lawyers often spend much of their time reading the terms of business contracts and ensuring that everything is within the law, these professionals can also help your organization to facilitate successful business deals. Hiring a corporate lawyer in Las Vegas can help you with negotiating terms, establishing partnerships, and protecting intellectual property rights.