Q.:  What is sweat equity and how does it work? My husband has recently started a new job where the salary is $50,000; however, he only takes home $25,000. The other half is going into sweat equity. Is this a normal practice and how might my husband benefit from this?   Read on to find […]

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Post image for Follow the ABCs of Buying a Business

Make sure you dot all your i’s and cross all your t’s before signing on the dotted line. Make no bones about it; buying a business is a big deal. Depending on whether you buy all or part of a business, your investment will likely result in the largest single asset you ever own. Don’t […]

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by Nina L. Kaufman, Esq. on June 7, 2019

Common Small Biz Legal Issues

Business law has become so complicated – how can you keep it all straight? Add to that the mountain of tasks that a small business needs to take care of – legal duties that you, as the business owner, may not even be aware of! That’s where an attorney can help, to ensure that your […]

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Post image for The Snags in Doing Business with Friends

It’s so easy to get sucked into an awkward spot when doing business with friends. It can start out as an exchange of expertise (a barter of the minds, if you will). Add in a dollop of friendly advice and MasterMinding. Mix together in a bowl . . . and watch the uglies emerge. One […]

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by Nina L. Kaufman, Esq. on May 29, 2019

How would you handle The Honey Cake Fiasco?

Last week, my rabbi, Frank Tamburello, shared his recipe for honey cake: Put a bunch of ingredients into a bowl. Mix. Pour into a greased pan. Bake. How difficult can it be? I thought. I, who have probably used my oven a grand total of 7 times in the past 20 years. Eager to play, […]

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by Nina L. Kaufman, Esq. on May 23, 2019

How to change company ownership for a single-member LLC?

Q.:  What document do I need to change who the sole member of an LLC is? A.:  The sole owner of an LLC owns 100% of the membership interests of that LLC.  What you require is called an assignment, which is a document that transfers the membership interests (company ownership) to you and states the […]

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Post image for Attend to Your Corporate Housekeeping

Yes, they’re cumbersome, but don’t ignore the corporate formalities if you don’t want creditors poking into your personal assets. Congratulations! You’ve taken the important step of protecting your personal assets by forming a corporation or limited liability company. But just as giving birth is only the beginning of your responsibilities of caring for a baby, […]

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Post image for But What Does It Mean? ‘Piercing the Corporate Veil’

Yes, legalese is its own language. Like the Latin spoken at the Vatican, it’s truly understood only by a few. So for the rest of us, here’s a handy definition of a term relevant to all business owners (whether a corporation or an LLC): “piercing the corporate veil“ It’s considered a privilege to be able […]

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by on May 14, 2019

Don’t Try This at Home

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Why entrepreneurs shouldn’t do their own legal work. Women entrepreneurs shoulder many burdens, one of them often being their company’s legal work. They don’t mean to become their own in-house counsel, it just sort of happens. They don’t have an attorney when they start their business and are too busy, daunted and undercapitalized (or so […]

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What do you do when facing a recession?  Lori Williams has some ideas in her blogpost, “Recession — Who Knows?”  She points out that in a down economy, a company in a less-than-ideal financial position will be hampered in its ability to get outside capital.  A solution?  Consider innovating through a strategic alliance or joint venture.  […]

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