Bite-Sized Bits of Knowledge

An Overview of Transferring Share Rights and What Isn’t Permissible with Transfers By: Barry E. Haimo, Esq.February 28, 2025 Did you know that some entities allow for the slicing and dicing of rights with respect to shares of ownership? That means, for example, that...

Your Guide to Allocations of Distributions By: Barry E. Haimo, Esq.February 24, 2025 Did you know that different types of business structures have different rules for how profits can be distributed? Corporations (C and S) do not have the ability to allocate...

What You Should Know about General Partnerships By: Barry E. Haimo, Esq.February 24, 2025 Like sole proprietorships, general partnerships don’t require any filings and are created automatically. This makes them simultaneously convenient and dangerous.  Because of...

Rules for Company Meetings: Setting Expectations and Guidelines Regardless of entity type, it’s important to address company meetings. While this stuff is not sexy, it is super important. There are essentially two kinds of meetings: shareholders’ meetings and meetings...

Rights of First Refusal: What They Are and Why Your Business Wants Them Imagine that you own a business with two other people. Splitting ownership between the three of you has been a nice way to split costs, risks, and responsibilities. However, there comes a point...

What Is an LLC? An Introduction to Limited Liability Companies LLCs are relatively new business entities. They take the best of corporations and partnerships and merge them into one awesome hybrid entity. They have tremendous flexibility in a variety of important...

What You Should Know about Involuntary Termination of Employment Transfers Let’s talk about involuntary transfers related to termination of employment or membership interest.  When key employees, contractors, or advisors leave a closely-held company, it’s crucial to...

C-Corporations: Things to Know about This Business Structure By: Barry E. Haimo, Esq.October 21, 2024 Corporations are the oldest of business entities. Like the other business entities that we have talked about, they are relatively easy to form. They can satisfy some...

What You Should Know about the Involuntary Death Trigger By: Barry E. Haimo, Esq. October 4, 2024 Death is a common trigger of an involuntary transfer, but you need to make sure you set the trigger up to meet the best interests of your business. Without a trigger,...

What Every Business Owner Needs to Know about Ownership Documents By: Barry E. Haimo, Esq.December 2, 2024 Governing documents are critical for a lot of reasons, and one of those reasons is to make sure ownership is well- documented. Each entity has different options....