Form a Company

Many entrepreneurs have law questions about the process of transfer of ownership and closing a business. Sometimes, the transfer of ownership takes place in the context of a company merger or company acquisition. Other times, you may just be looking to sell a corporation, and that’s where a stock transfer takes place. Want to know […]

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Q.:  In a privately held company, is it necessary for a stock transfer between two directors to be approved by the shareholders?   A.:  Under most state laws, shareholders have the right to approve (or disapprove) any transferring ownership is involved, including a stock transfer.  If the company has multiple classes of stock, the shareholders’ […]

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Q.:  I have started two companies one an LLC and the other an S Corp that I used for a very short time and would like to stop using. How do you go about the process to close a business?   A.:  Just as you needed your Secretary of State’s permission to open your business, […]

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Q.:  I work for a company that has branches in three separate countries, as three separate businesses. Each is owned and operated by the same people. The owners would like to go through a company merger so that these three entities form one company. Is this possible, or do they need to form an entirely […]

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Post image for Basic Training: N is for Never Practice Medicine without a License

You’d think that would be self-explanatory. But with the proliferation of the internet, holistic products and that gray area of “wellness,” who’s to say? Today’s Basic Training entrepreneur already had a website selling a product that’s 100 percent natural. She didn’t disclose the product to me but says that it could be perceived as medicine […]

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Q.:  Can Subchapter S retired stock be un-retired?   A.:  Generally, when you have gone through a stock transfer to sell your shares back to a corporation, when you later buy back in to the company ownership, the corporation simply issues new shares to reflect the new purchase. In an ideal world, when someone sells […]

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Q.:  I’m a Canadian wanting to buy a small to medium-size business. Are there restrictions to purchasing a U.S.-based company? I have no credit history in the U.S. I have $300,000 to $500,000 to invest. I’ve also heard that any non-U.S. citizen who invests more than $100,000 in a business gets fast-tracked for a green […]

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Q.:  We have built enterprise-class software products for banking, education and manufacturing segments. We have an established set of clients and a recurring revenue stream.  How do sell a corporation in the technology industry? A.:  There are a number of issues to consider when you’re looking at how to sell a corporation: When do you […]

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Q.:  I started a business about 15 years ago. Because of sickness, I couldn’t get it off the ground. I never had any revenue or inventory. Now the credit people have it listed as a current business. How do I unincorporate?   A.:  The proper way to close a corporation is to file a certificate […]

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Q.:  What steps do I need to take to purchase a business name from my uncle? The business name belongs to my uncle, and he is going to sell all rights to the name to me. How do we start the process, and where do we go to get the transfer of ownership done legally? […]

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