Bite-Sized Bits of Knowledge


Business Planning

What You Need to Know about Involuntary Disability Triggers

What You Need to Know about Involuntary Disability Triggers By: Barry E. Haimo, Esq. May 3, 2024 Disability is a common trigger of an involuntary transfer. If someone cannot perform, they are not able to contribute to the business. They will, meanwhile, continue to...

Introduction to Business Formation: Why It’s Important

Introduction to Business Formation: Why It’s Important By: Barry E. Haimo, Esq. May 2, 2024 Forming a business entity is easy to do, but not as easy to do right. Forming the wrong entity can be a huge problem. Also, putting the wrong information on the filing can be...

Sole Proprietorships in Florida: The Good, the Bad, and the Ugly

Sole Proprietorships in Florida: The Good, the Bad, and the Ugly Maybe you’re a freelancer and you want to keep things simple, but you also want to brand yourself to help get more work. Or perhaps you’re just a single person with a really cheap idea for a product or...

Understanding the Involuntary Divorce Trigger

Understanding the Involuntary Divorce Trigger If you’ve been following along, we’ve been writing quite a bit about the various types of involuntary triggers that can impact the ownership of a business when one person’s ownership stake or shares are taken away due to...

The Involuntary Bankruptcy Trigger and Bankruptcy Basics

The Involuntary Bankruptcy Trigger and Bankruptcy Basics Bankruptcy is a common trigger of an involuntary transfer. If a partner goes bankrupt, you could find yourself partnered… with a partner’s creditors.  Generally, you want to keep it in the family (or within the...

Non Legal Formation Advice

Starting a Business: Non-Legal Formation Advice While you will certainly have to traverse many complex legal facets when starting a business, the broad platform for a healthy business also encompasses many non-legal pieces of common sense. Having certain practical...

What Are Involuntary Transfers and How Do They Work?

As the name suggests, an involuntary transfer of your ownership share of a business is a transfer that you are not choosing to make. It is a transfer that is forced upon you due to specific circumstances, which are generally beyond your control. What kind of...

An Introduction to Governing Documents for Your Business

Governing documents consist of shareholders agreements and bylaws for corporations, operating agreements for limited liability companies (LLCs), limited partnership agreements for limited partnerships (LPs) and partnership agreements for partnerships.  They are super...

An Introduction to Business Share Transfers

When you start a business with other people, each of you own a percentage of it – a share. In a two-person partnership, each of you might have a 50-50 share. Adding more people or entities of ownership, obviously, means a reduced shared for everyone. But what if one...

An Introduction to Business Planning and Business Plans

If you are a small-to-medium-sized business owner, you may view building a business plan as a deeply complex endeavor that will require exorbitant amounts of time. And because of this, you might decide not to bother. You might tell yourself that you already have the...

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