Chenoweth Law Group

Business Law Archives

Successor liability: Avoiding the minefield of unexpected exposure

Buying a business is a risky proposition. The only way to contain and mitigate that risk is to conduct a thorough investigation into the acquisition target while being backed by retained advisors experienced in business transactions. In any acquisition there are dozens, if not hundreds, of risk factors. One such factor often not considered by first-time purchasers is that of successor liability - the extent to which the successor business, could be liable for certain debts and obligations of the seller's business after closing.

Ushering In A New Era In Of US-Based Privacy Regulation That Could Affect Your Business

Does your company engage in business in California? Does it collect personal information of consumers and alone, or with others, determine the purpose and means of processing same? If so, do any of the following describe your business?

Liability protections for members of LLPs and LLCs

When forming a business entity, liability protection for individual owners is a crucial consideration. Some entities provide greater protections than others. LLCs (limited liability companies) and LLPs (limited liability partnerships) are attractive options because they shield owners from personal liability.

Understanding and Protecting Your Business from Standard Contract Terms

Whether for the purchase of a business, equipment, or real estate, most contracts contain standard terms, often referred to as boilerplate. Even though the terms may be standard, there are often subtle differences in the wording that can have significant consequences down the road. More importantly, even though terms may be typical in a business or real estate contract, they may be contrary to your business' interests in a particular transaction.

Handling Outside Sales Commissions and Termination of Employment

Companies often use outside sales representatives to sell their products or services. These sales representatives can be employees or independent contractors. They are paid on commission, which rewards them financially based on what they sell. Working on commission can be a great way to set one's own schedule while having financial reward tied to performance. Using outside sales representatives is a great model for businesses as well - a business can reach many clients face-to-face and create a more personalized relationship with the business's customer base.

Is it time to sell my business?

Starting and growing a business is like having that extra child-it's a lot of work and you pour yourself into it; if you're lucky you create something that can thrive on its own without you. Just like letting go of the reins with your kids, opportunities present themselves to do that with your business.

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