December 13, 2019
Sometimes, it seems, you do have to look a gift horse in the mouth. As Sarah Needleman points out in her Wall Street Journal article, “Taking a Partner Can Help… or Hinder,” a promise of cash can lead to problems of control. When half of all businesses that try to borrow money don’t get any or all of what they need, entrepreneurs are turning to investors to provide a needed lifeline. However, investors often want more than just a return on their money. They may demand control, or a strong voice in the business. Even if they don’t have the temperament or the skill sets (above and beyond a fat wallet) that the company needs. Entrepreneurs will enter into these shotgun arrangements, often because they’re desperate for cash. How to avoid the dissention? Well, one way is with solid financial planning. Filing a patent application or needing to stock up on inventory are not business transactions that should come as any surprise. If your cash reserves aren’t falling short, you won’t need a quickie cash infusion and…
Continue ReadingA little legal levity for a Friday afternoon. Enjoy! * * * * Advice from lawyers George and Lenny decide to cross North America in a hot-air balloon. However, neither was a particularly experienced balloonist,…
Read MoreQ: Does an S Corporation protect your personal assets? It has become obvious I need help with this. Any ideas you have would be very much appreciated. A: Generally, yes, a corporation will protect the…
Read MoreAh, wouldn’t it be nice . . . to cash out of your business and have the time, freedom and buckaroos to lounge in Tahiti, build that extra extension on the house or give to…
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