What to Expect When Selling Your Business

January 6th, 2020 by

First off, selling your business will always – ALWAYS – take longer than you think it will or should.  We have never seen a business sale, whether it’s five figures or seven figures, close in less than 45 days.  Even 45 days is pretty ambitious. Think about it – you have a buyer, a seller, […]

Business Partnership Divorce

January 18th, 2017 by

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 […]

Should I Form a New Entity for My Idea?

September 6th, 2016 by

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 […]

Buying a Business – Asset Purchase or Stock Purchase?

June 1st, 2016 by

Recently I’ve walked clients through buying or selling a business.  My concerns are obviously different depending whether I’m representing the buyer or the seller, but there is a fundamental difference between the types of agreements used in these transactions, and fundamental misunderstandings I can clear up. Often, a prospective buyer will tell me all about how wonderful […]

What to Do with Contracts

March 30th, 2016 by

I know when I see not one, but two self-assigned tasks regarding contract stuff I deal with daily and now take for granted, it’s time for a blog post. In recent weeks, I’ve met with far too many clients who 1) haven’t signed contracts they now want to enforce, or 2) want my advice on a […]

Nevada Wage Claims

December 15th, 2015 by

First, what is a wage claim?  Any person who has previously worked for you, in any capacity, can file a wage claim with the Nevada Labor Commissioner for money they claim they earned but that you didn’t pay. The important thing to know, if you don’t read any further in this article, is that the […]

Fast, Good, Cheap. Pick Two.

September 15th, 2015 by

Lately, we’ve had a number of meetings with potential clients who are bringing problems to us, largely because they 1) didn’t take the time to find the right advisor, 2) didn’t want to pay for the right advisor’s advice, or 3) were in such a hurry they just downloaded an online template contract. Only recently did […]

Percentage Rent for Leasing Retail Space

May 7th, 2015 by

If you’re looking at leasing retail space for your business, chances are that the landlord is going to require you, as the Tenant, to pay Percentage Rent in addition to the Minimum Annual Rent (aka Monthly Base Rent). Basically, the landlord wants a cut of your sales when you are running a successful business! You […]

What Are The Different Lease Types For My Business?

April 7th, 2015 by

Thinking about leasing space for your business? Have you heard the terms, “Full Service Gross,” “Modified Gross” and/or “Triple Net” and don’t know what to think? If so, you’re not alone – but wait – there’s good news! The basics of these common commercial lease types are not quite as intimidating as they might sound. In […]

Operating Agreement Checklist

May 1st, 2013 by

Drafting an operating/partnership/shareholder agreement seems to be my most important but least utilized service.  For whatever reason, business owners are very reluctant to spend the money on a well-drafted operating agreement tailored to their needs when they can download one for free.  If you are a regular visitor to my site, you have read the […]