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Essential Clauses Every Business Contract Should Have
A well-drafted business contract is crucial for protecting your company’s rights, clarifying obligations, and minimizing risks. Whether you’re entering into an agreement with a client, vendor, or business partner, ensuring your contract contains the right clauses can prevent disputes and legal headaches. Below are the essential clauses every business contract should include.
Parties to...
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How a Business Can Effectively Deal with Negative Online Reviews
In today’s digital world, online reviews can make or break a business. A single negative review can seem daunting, but how a business responds is often more important than the review itself. Here’s a step-by-step guide to handling negative reviews effectively while maintaining your reputation and customer trust.
Stay Calm and Assess the Review
Before reacting, take a deep breath and...
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Federal Court Suspends Enforcement of the Corporate Transparency Act’s Reporting Requirements: What This Means for Businesses
In a significant development for businesses nationwide, a federal court has temporarily suspended the enforcement of the Corporate Transparency Act (CTA) reporting requirements. This decision has broad implications, particularly for small businesses, startups, and other entities affected by the law. Let’s explore the background of the CTA, the court’s reasoning, and what this suspension means...
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How Outside Counsel Can Help Your Business Succeed
Running a successful business requires balancing growth with navigating a complex legal landscape. While some companies opt to build in-house legal teams, hiring outside counsel can provide significant advantages. Outside counsel, composed of experienced legal professionals not employed by your business, can offer specialized support, insight, and flexibility.
Here are several ways outside...
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Common Legal Mistakes New Businesses Make and How to Avoid Them
Starting a new business can be exciting, but it comes with a host of legal challenges that many entrepreneurs are unprepared for. Mistakes made early in the process can lead to costly disputes or even threaten the survival of the business. Here are some common legal pitfalls that new businesses face and strategies to avoid them.
Choosing the Wrong Business Structure
Selecting the appropriate...
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Selling an LLC: A Comprehensive Guide
Selling a Limited Liability Company (LLC) is a significant decision that requires careful planning, legal considerations, and strategic thinking. Whether you are selling your business to retire, pursue new opportunities, or capitalize on its value, understanding the process is crucial. This guide will walk you through the key steps and considerations involved in selling an LLC.
Understanding...
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What Is the Difference Between a Corporation and an S-Corporation?
Choosing the right business structure is a critical decision that can impact everything from taxation to management. Two popular options are the Corporation and the S-Corporation (or, “S-Corp”). While they share some similarities, they also have distinct differences that make them suitable for different types of businesses. Let’s explore these differences to help you make an informed decision...
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Does a Washington LLC Have to File an Annual Report?
Running a Limited Liability Company (LLC) comes with numerous perks, such as flexibility in management and limited liability protection for its members. However, alongside these advantages, there are various legal obligations that LLC owners must fulfill to maintain compliance with state regulations. One such requirement pertains to the filing of annual reports. Let’s delve into this...
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New Rule on Classifying Workers as Employees or Contractors
The U.S. Department of Labor recently announced a new rule to help employers decide on whether a worker is an employee or an independent contractor. The new rule took effect on March 11, 2024, and utilizes a six-factor test to make the employee/contractor determination. The rule will largely affect such industries as home health care, construction, trucking, and ride-share and delivery...
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FinCEN’s New Reporting Rule and What Must a Business Report?
We recently posted on the new Beneficiary Ownership Reporting Rule issued by the Financial Crimes Enforcement Network (FinCEN). The new rule went into effect on January 1, 2024.
While our last post provided a general overview of the new rule, our office received several questions on what information the new rule actually requires a company to report. Let’s take a detailed look so that all your...