Entries for January 2010

A few weeks ago I wrote about the concept of piercing the corporate veil.  I received an e-mail asking what happens when someone breaches a contract he signed that included a personal guaranty.  Short answer - get a lawyer.  Here's the long answer... A personal guaranty is sometimes required for a contract.  Commercial lan...

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Virtual offices and executive suites provide a fantastic alternative for business owners who want the trappings of an office without the significant overhead.  As beneficial as these arrangements are, they can leave clients high and dry if the virtual office owner stops paying rent. There are three rungs on this particular ladder: Build...

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Yes.  The End. Just kidding.   The IRS, business license bureaus, taxation departments, and sometimes secretary of state offices require an identifying number for your business.  Without an EIN, your social security number is used, which causes identity theft concerns.  Also, obtaining an EIN is another way to distance yoursel...

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Last week I met with a small business owner whose registered agent had access to her business bank accounts.  A short investigation revealed this particular registered agent had formed dozens of corporations and named himself secretary, giving him access to the bank accounts.  We quickly dissolved the corporation and reformed an LLC ...

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