Knowing when to consult your lawyer can help you to maximize your business’ opportunities and potential. Inception Of Your Business Choosing the right entity for your business is an important first step. Not only are there significant tax issues to be examined, but the structure of your company should be flexible enough to grow as …Read More
“Think like a lawyer. Act like a business owner”. Good advice for lawyers. Great advice for business owners who need to choose a lawyer. The quote above comes from a very good friend of mine who also happens to be one of the best all around business lawyers I know. We recently talked about the …Read More
As a business owner, you have likely followed news coverage of the Supreme Court arguments regarding the Affordable Care Act, and are interested to find out which provisions might be affected. One of the more controversial provisions of the Affordable Care Act is the Employer Mandate, which provides that business owners with at least 50 …Read More
Employers sponsoring 401(k) plans have been hearing from their investment advisors about “fee disclosures” that have to be given to plan participants who choose their own investments in the company plan. The goal of these IRS regulations, now effective July 1, 2012, after having been delayed several times, is to arm investors with information about …Read More
The most successful companies foresee, plan for, and take advantage of business opportunities before their competition. They also identify and make sure that they are well-prepared to avoid, or manage successfully, potential future problems, including legal problems, which could sabotage their taking full advantage of current or future business opportunities. Strauss Troy’s approach to conducting …Read More
The Ohio State Small Business Credit Initiative gives small businesses and manufacturers new opportunities for growth. Here are the details. Certain eligible small businesses and manufacturers in Ohio that are creditworthy, but are not able to access capital they need to expand and create jobs, may be surprised to learn that there are new borrowing …Read More
In April, the “Jumpstart Our Business Startups Act” (the “JOBS Act”) was signed into law by President Obama. The JOBS Act: Removes the prohibition on general solicitation in connection with transactions effected pursuant to Rule 506 or Rule 144A under the Securities Act of 1933, provided that sales are limited to qualifying investors Alters the …Read More
The current challenging economic conditions make effectively managing cash flow and collections more important than ever for small business owners. Business owners usually have a good command over the expense portion of their cash flow. It’s easy to track with basic software. Most small business owners, however, aren’t as comfortable managing accounts receivables and knowing …Read More
When a company establishes its employment policies and procedures, there is a tendency to consider the task completed, at least for the foreseeable future. While that might have been an acceptable approach several years ago, technological changes require companies to be alert to new and different issues. Such is the case with Facebook, MySpace, LinkedIn, Twitter, blogs, and a host …Read More
It is no secret that identity theft is on the rise. To help combat and prevent identity theft, the Federal Trade Commission (“FTC”) enacted regulations known as the Red Flag Rules. These Rules require certain businesses to develop and implement a written identity theft prevention program. The deadline for enforcement of the Rules is August 1, 2009. Per the …Read More
We have all nearly drowned in the unrelenting flood of bad economic news, but the ultimate ending to this story need not be so gloomy. Now is the perfect time to invest some effort toward positioning your real property for the years ahead, well beyond the end of this crisis. Despite our fears at present, the crisis will definitely come …Read More
Most management teams aren’t thinking in these terms right now, but some companies are growing their businesses through mergers and acquisitions in a time marked by some of the most severe changes our economy ever has ever seen. These changes are creating opportunities for many companies to achieve greater degrees of horizontal or vertical integration in their industry by buying competitors, …Read More
During the current economic environment, a business owner reads news every day of businesses suffering financial hardship. This hardship often stems from macroeconomic variables such as an industry slowdown or higher commodity prices. But the current credit market appears to be a common challenge for both large and small businesses in every industry. Most businesses have relationships as both …Read More
The use of computers and electronic communications to conduct business has grown increasingly over the last several years. Employees at all levels are using computers and other electronic devices such as PDA’s to access the Internet and to communicate with each other and the outside world through electronic mail (e-mail). While business owners are generally aware that time wasted by employees’ …Read More
Every contractor should be aware of the potential to use mechanic’s liens as a means of enhancing collection of accounts receivable. Every industry has problems collecting its accounts receivable. Contractors are afforded the right to file a mechanic’s lien against the property that was improved by their work. Because such a lien is an encumbrance …Read More
The Enron debacle presented a particularly egregious example of document “spoliation,” an organized, massive, and deliberate destruction of documents that were highly relevant to inevitable litigation and governmental investigations. But destroying documents, even in less dramatic ways, can pose serious problems and risk, especially electronically stored information. If such documents or records are destroyed, a …Read More