Help Me Ditch My Business Partners!
- February 11, 2020
Horror of horrors! You’re stuck in a business partnership with NO agreement. You have to get out . . . or get the others out before you go postal and end up in a prison…
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December 14, 2017
From the Department of “Hey, That’s a Good Point!” comes this article on Board of Directors liability by attorney Alan Sklover, Esq. (yes, you can learn interesting things from your LinkedIn groups!). It has to do with corporate housekeeping, directors and officers, and how to protect yourself against future entanglements. Why is this relevant? Because small businesses often ask family and friends (and advisors) to sit on their board or somehow serve the company to either (1) get the benefit of their expertise; and/or (2) offer “equity” in exchange for investing money in the corporation or providing services to it. For some, it’s an exciting ride to be part of the management of a small business. What they don’t focus on, though, is that there are risks to participating. THE GENERAL RULE: Usually, directors and officers of a corporation are shielded from being sued personally for the reasonable decisions they make while serving as directors and officers. The concept is that, if you are acting fairly on behalf of the corporation, you should not be…
Continue ReadingHorror of horrors! You’re stuck in a business partnership with NO agreement. You have to get out . . . or get the others out before you go postal and end up in a prison…
Read MoreAt some point in their business planning, most entrepreneurs wonder: “How can I protect myself if things go awry?” Even if they have few personal assets, they may want to avoid the possibility of seeing…
Read MoreEver run around like a crazy person, only to finally have 5 minutes of down time? That’s me right now. I’m off on vacation at the crack of dawn on Friday—tomorrow will be a Thanksgiving…
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