“q & a”

Q.: What do you get when a U.S. consumer products and marketing powerhouse meets a Korean pharmaceutical company? A.:  A strategic alliance that uses a new model to improve health care. As reported in CNN Online, Proctor & Gamble is known more for its consumer items than for its pharmaceutical division (yes, they have one!).  […]

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Post image for Basic Training: ‘Finagling’ Overtime . . . and Why That’s an FLSA Red Flag

Like cheating on taxes, playing fast and loose with Fair Labor Standards Act employee classifications can land you in a world of hot water. Do you know the distinction/difference between “exempt” and “non-exempt” employees as it relates to their duties and the paying of overtime? Q: I want to lessen my payroll by finding ways to lower […]

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Post image for Basic Training: Does Divorce Litigation Affect a Business Partnership?

It’s said that more than 40 percent of all marriages in this country end in divorce.  So there’s a not-insubstantial likelihood that your business could be affected by divorce . . . even if you’re not the one divorcing.  Here’s today’s query: Q:  My partner’s ex-wife is suing him for a large amount. Can it […]

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Q.: I own 51 percent of an LLC. If I plan to split with my business partner what am I responsible to pay him?   Read on to find out . . . !

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Post image for Basic Training: Can Employees Legally Take Your Clients?

Your employees can become your next competitors if you don’t handle the relationship carefully . . . and by “carefully,” I mean having non-solicitation agreements and other understandings (in writing!) with your employees. But some folks are “old-school,” or don’t want to spend the money.  As a result, their employees are considered working “at-will” and […]

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Q.:  What are my rights as the minority shareholder who is being laid off by majority shareholder?  I’m a guarantor on the company credit line? We are the only guarantors on the credit line. There are two other minority shareholders, one was laid off nine months ago but kept his shares, and the other is […]

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Post image for Can You Dock an Employee for Damages?

Well, employees are people, too. And they may have some of your company equipment at home (laptop, cell phone, etc.).If they damage the equipment, do they have to pay for it? Can you dock their paycheck? The answer, generally, is no. Many states prohibit companies from making deductions from an employee’s paycheck, other than those required […]

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Post image for Gearing Up For Out-of-State Business

Q.:  I would like to market to first-time homebuyers in New York, put them through a nonprofit loan program of which my company is not affiliated and eventually hand them off to a Realtor in New York.  My company operates in Nevada and is licensed in real estate.  We would collect a referral fee for […]

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OK, so I’m somewhat biased, but I think lawyers can make for great business partners.  We have a knack for detail-orientation that many entrepreneurs would rather gloss over.  We’re careful, read everything, and tend to be risk averse.  A perfect foil for the stereotypically free-spirited business owner. But sometimes, it’s not such a good idea, […]

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Post image for Basic Training: Y is for Yes, You’ll Pay Taxes on Your Home-Based Business Earnings

Here’s the lowdown on taxes when it comes to home-based businesses. If you earn money on it, no matter how little, plan on paying taxes. Doesn’t matter that it’s for a little “walking around” pocket change, for the baby’s diaper fund or to help Grandma get her heart medications. Q.: I was thinking about doing […]

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