by Dave Duringer - Protective Law Corp | Sep 12, 2022 | Blog, Business Succession, Buying or Selling a Closely Held Business, Entity Formation, Operation & Governance
If you are considering buying or selling a business, you may need an asset purchase agreement. An asset purchase agreement (APA) is a contract that specifies the terms and conditions for the sale and purchase of a business or certain business assets. The APA...
by Dave Duringer - Protective Law Corp | Sep 9, 2022 | Blog, Business Succession, Entity Formation, Operation & Governance, Regulatory Compliance
Corporations are required to have a board of directors, which is selected by the shareholders. The board of directors helps govern the corporation, provides advice and counsel, conducts high-level management, elects officers, votes on key decisions, and protects...
by Dave Duringer - Protective Law Corp | Sep 8, 2022 | Blog, Operation & Governance, Regulatory Compliance
In today’s competitive job market, giving gifts and other fringe benefits to employees can be an effective way for employers to show appreciation. But generous employers should understand that most gifts and bonuses—even small ones—have tax implications. Employee...
by Dave Duringer - Protective Law Corp | Sep 7, 2022 | Blog, Limitation of Liability, Operation & Governance
Summer is a popular time for businesses to hire temporary workers. Restaurants, golf clubs, resorts, amusement parks, and other warm-weather entertainment destinations depend on the summer months to boost their bottom line for the entire year. Despite the current...
by Dave Duringer - Protective Law Corp | Sep 6, 2022 | Blog, Operation & Governance, Tax Planning
Giving money to charity might seem counterintuitive to those running a for-profit company. However, it is important to keep in mind that charitable giving can not only make a big difference to the recipients of your generosity, but it can also provide a net gain to...
by Dave Duringer - Protective Law Corp | Sep 5, 2022 | Blog, Limitation of Liability, Operation & Governance
The topics of misinformation and disinformation frequently arise in conversations about news coverage. But the question of truth is not just relevant to the media we consume. It is also a significant issue to consider for a business’s advertisements. Truth in...
by Dave Duringer - Protective Law Corp | Aug 24, 2022 | Blog, Buying or Selling a Closely Held Business, Entity Formation, Operation & Governance, Venture Protection
With the country emerging from pandemic lockdowns and economic activity beginning to expand, small business owners are optimistic about the future. Supporting local businesses can help them grow and thrive in a post-pandemic economy. But what if you could help a...
by Dave Duringer - Protective Law Corp | Aug 23, 2022 | Blog, Entity Formation, Estate Planning, Limitation of Liability, Operation & Governance, Tax Planning, Venture Protection
Farming brings to mind kinship with nature and a simpler way of life. But the farming industry is highly regulated, and navigating the applicable laws and regulations can be far from simple. A rising world population creates greater demand for food and the farmers who...
by Dave Duringer - Protective Law Corp | Aug 22, 2022 | Blog, Business Succession, Buying or Selling a Closely Held Business, Entity Formation, Limitation of Liability, Operation & Governance, Venture Protection
Many business partnerships eventually come to an end. Like other types of relationships, when business partners decide to split up, the process can be amicable or contentious. For personal and professional reasons, dissolving the partnership on good terms is in the...
by Dave Duringer - Protective Law Corp | Aug 19, 2022 | Blog, Business Succession, Buying or Selling a Closely Held Business, Operation & Governance, Venture Protection
As a business grows, its ownership structure may change and an owner may need to be removed. Removing an owner of a limited liability company (also known as a member) may become necessary if a member retires, dies, changes career, commits a breach of conduct, or has a...
by Dave Duringer - Protective Law Corp | Aug 18, 2022 | Blog, Entity Formation, Limitation of Liability, Operation & Governance, Regulatory Compliance, Venture Protection
Multilevel marketing (MLM) businesses sell products or services directly to retail customers using commission-based, nonsalaried representatives who are encouraged to recruit new representatives and form their own sales networks. They can have thousands of...
by Dave Duringer - Protective Law Corp | Aug 17, 2022 | Blog, Entity Formation, Limitation of Liability, Operation & Governance, Regulatory Compliance, Venture Protection
If you have ever considered starting an e-commerce business, now is a great time to move from ideation to action. Online retail sales exploded to an all-time high amid COVID-19 lockdowns, travel bans, and brick-and-mortar closures, and this was not just a temporary...
by Dave Duringer - Protective Law Corp | Aug 16, 2022 | Blog, Limitation of Liability, Regulatory Compliance, Venture Protection
The Americans with Disabilities Act (ADA) requires businesses to accommodate people with physical and cognitive impairments. While the ADA, which applies to “places of public accommodation,” was designed with physical spaces in mind, the proliferation of online...
by Dave Duringer - Protective Law Corp | Aug 12, 2022 | Blog, Business Succession, Buying or Selling a Closely Held Business, Family Protection, Financial Mentorship, Fortune, Operation & Governance, Venture Protection
Your family and your business are two of your top priorities. You would not do anything to compromise either of them. But working with family members in a family-owned business presents unique challenges that can cause lasting damage to both if not properly managed....
by Dave Duringer - Protective Law Corp | Aug 11, 2022 | Blog, Operation & Governance, Regulatory Compliance, Venture Protection
You are probably aware of employment laws that could create liabilities if your company fails to comply with them. However, even before a person becomes an employee, certain antidiscrimination laws protect them during the application process. Most employers must...
by Dave Duringer - Protective Law Corp | Aug 10, 2022 | Blog, Business Succession, Buying or Selling a Closely Held Business, Estate Planning, Family Maintenance, Family Protection, Fortune, Operation & Governance, Venture Protection
Conflicts are inevitable within businesses and families. Personal rivalries, differences of opinion, competition for resources, and questions of prestige can set individuals at odds and lead to warring factions with competing loyalties. Resolving conflicts in both...
by Dave Duringer - Protective Law Corp | Aug 9, 2022 | Asset Protection, Blog, Creditors & Predators, Estate Planning, Fortune, Limitation of Liability, Operation & Governance, Venture Protection
Small business owners are no strangers to risk management. Owning and operating a small business entails a certain level of unpredictability. Despite your best efforts to stay on top of supply chains, marketing, sales, competitors, employees, and cash flow, unexpected...
by Dave Duringer - Protective Law Corp | Aug 8, 2022 | Asset Protection, Blog, Business Succession, Buying or Selling a Closely Held Business, Creditors & Predators, Entity Formation, Estate Planning, Family Maintenance, Financial Mentorship, Fortune, Limitation of Liability, Operation & Governance, Regulatory Compliance, Tax Planning, Venture Protection
Trusts are usually associated with estate planning, but trusts can also apply to business operations. As a small business owner, you can hold the business in a trust instead of using a business entity such as a limited liability company (LLC) or corporation. Business...
by Dave Duringer - Protective Law Corp | Aug 5, 2022 | Blog, Operation & Governance, Regulatory Compliance, Venture Protection
Paying employees is among the top legal obligations of employers. Whether due to financial difficulties or worker conduct, it is generally illegal to withhold payment from employees. The U.S. Department of Labor (DOL), as well as state labor boards, have strict laws...
by Dave Duringer - Protective Law Corp | Aug 4, 2022 | Blog, Operation & Governance, Regulatory Compliance, Venture Protection
What do workers want most? Beyond a pay raise, one of the best ways to keep workers happy is to give them more paid time off (PTO). Contrary to what business owners and managers might think, vacation time has actually been shown to boost productivity. Vacation is an...