Business Law & Business Litigation

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...

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...

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...

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...

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...

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...

The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has issued a new Beneficial Ownership “Reporting Rule.” The new rule went into effect on January 1, 2024. Let’s take a look at the new rule and how it may affect your business. Please contact the McWilliams Law Group now if you have any questions. What Does the Reporting Rule Require? The new Reporting Rule...

Image from Pattanaphong Khuankaew. In the dynamic world of business, companies often face the challenging decision of dissolving their operations. Whether due to financial struggles, changes in market conditions, or strategic shifts, business dissolutions require careful considerations and adherence to legal processes. Let’s take a look at some of the most important things a company should...

A mechanics lien is a crucial legal tool for contractors, subcontractors, suppliers, and others in the construction industry to secure payment for their work and materials. The following post aims to provide a comprehensive overview of mechanics liens, covering what they are, how they work, and the steps involved in filing and enforcing them. What Is a Mechanics Lien? A mechanics lien, also...

In the realm of business entities, closely held businesses play a unique role. They are often the preferred choice for entrepreneurs and small business owners looking to maintain control over their operations while limiting their exposure to outside investors. In the following post, we will explore what closely held businesses are, their key characteristics, and whether or not you need one for...