Category: Business Owners

Things Gone Awry for Restaurant Clients Restaurants are some of the most complicated small businesses around.  In fact, just today, while talking with another business advisor about a client in dire straits, she asked, “what industry?”  I said “restaur…”  and before I could even complete the word, she was nodding in understanding.  Running a restaurant […]

First, let’s clarify what we mean by “foreign” – it doesn’t involve a flight across the pond or digging out your passport. Your entity is considered a foreign entity by a state other than the one in which it’s incorporated. As expected, your entity is considered a “domestic” entity by the state in which it’s […]

No, we haven’t taken a hard left and turned this into a relationship blog.  Well, at least not that kind of relationship. I recently prepared an Operating Agreement for a company of four where two of the partners are highly accomplished in-house attorneys for big companies.  One of them asked me to explain the purpose […]

Leasing commercial space for your business can be pretty daunting. There are several things you, as a prospective tenant, should think about prior to going down the commercial leasing path. Here, we’ll briefly discuss a few of the more important items you’ll want to understand so you can make the best decision for your company. […]

When you form an LLC in Nevada, you’re asked whether the entity will be Member-Managed or Manager-Managed. The owners of the LLC are called “members.”  As owners, members have broad discretion to run the company any way they see fit, restricted only by terms outlined in an operating agreement.  For Member-Managed LLCs with no Operating […]

Are you a small business owner entertaining the thought of entering into a commercial lease for your operation? If so, leases can be pretty intimidating (and dreadfully boring), and there are several common pitfalls you should be aware of. We’ll address a few of the major ones here, but it is always best to seek […]

Did you receive a letter from a lawyer, or, heaven forbid, Getty Images, stating that you used an image without permission?  Does that letter also demand an alarming amount of money for this transgression?  “But I didn’t know it was a problem and not very many people saw it.”  Unfortunately, those are not valid excuses. […]

Are you the sole owner of your company?  If so, do you have a succession plan in place for your business?  You do?  That’s great.  Does it pass muster with your bank?  If your brow is furrowed and a cartoon question mark is floating above your head, read on. In the last year, we were […]

Though you started out as best friends, spouses, siblings, or college roommates, you and your business partner(s) now have each other’s headshot on a dartboard.  You’re losing sleep, the company is losing clients, patience is wearing thin, and everyone is nearing the end of their respective ropes.  You’re hoping your partner simply disappears over the […]

You have a new idea and you’ve got a guy who has connections or resources or ways to help get that idea off the ground.  It’s clear you want to work together.  The assumption is, often, that you’ll “simply” form a new entity, like an LLC, to make this idea happen.  Holdupwaitaminute. Now that my […]