What is business law?

Business law encompasses the rules, statutes, codes, and regulations that are established to govern commercial relationships and provide a legal framework within which businesses may operate and managed.  Business law is diverse and includes business formation and organization, transactional business law (contracts), business planning, business negotiations, mergers and acquisitions, and divestitures.

What factors should be considered in determining the type of entity to form to operate your business?

There are many factors to consider, but the common considerations include tax treatment, capitalization of the business, structure of management, and owner’s personal liability for business operations.

What is a Buy-Sell Agreement?

Businesses with more than one owner should have a buy-sell agreement.  A buy-sell agreement will determine what will happen with an owner’s interest in a business upon the occurrence of a triggering event such as death, disability, divorce, or termination of employment.  The buy-sell agreement can help minimize problems by providing for an orderly succession in the buy-sell agreement.

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