Businesses lose employees all the time, but if another firm has ever targeted or hired your employees then you have suffered from employee poaching or “employee raiding.” Employee poaching is a fact of life for small business owners, particularly in high growth, specialized, and technology industries. In fact you can even do a quick search online and find blogs that will even coach businesses on how to poach employees! And it’s about to get worse, according to Alison Doyle, writing for About.com: “More than half (54%)...
If your small business uses both employees and independent contractors you may think there are few differences between them – they do the same work, have similar goals and you pay them both for their contributions. But regardless of whether you see any day-to-day differences, the IRS does. This article explains the grey area of contractor/employee classification and outlines a new IRS “amnesty” program designed to help business owners correct their worker classification mistakes. How the IRS Sees It The fundamental...
Getting ready to enter the commercial real estate market? In an earlier article, I outlined 6 Tips for Negotiating a Commercial Property Lease without Getting Burned. If you are looking to rent or buy space for your small business, it’s well worth knowing some of the common terms that are used widely in this industry so that you and your real estate agent are talking the same language. From abatements to zoning ordinances there are literally hundreds of commercial real estate terms that span the dictionary. Here are 10 of the most...
You may think that a board of directors is reserved for large corporations with shareholder investments to oversee and strategic decisions to be made. The truth is that many small businesses can benefit from a board of directors. If you structure your business as an S Corporation or a Corporation you are required by law to have a board of directors. Likewise, if you receive venture capital funding you will need to form a board on which your investors will sit. But there are several other reasons why small businesses might consider...
If you are a consultant or freelancer you’ll be familiar with this often asked, yet perplexing question: “Do I need to incorporate?” Legally, the answer is no. The truth is over 70 percent of U.S. businesses are owned by sole proprietors, and operate successfully without incorporating. So, if you can legally operate and be successful without it, why would you want to incorporate your business? Here are some reasons why: Liability You may not think now that you need protection against liability but what if a client...
HUBZone Certification—How Does a Business Get Certified? Are you a small business owner located in an economically distressed urban or rural community with high unemployment or low income levels? Are you looking for help with federal contracting and interested in becoming certified in the U.S. Small Business Administration’s (SBA) Historically Underutilized Business Zones (HUBZone) program? If so, you may be eligible for the program if you can answer yes to the following questions. Ask yourself: Am I a small...
Business partnerships are common among startups and small businesses, and it’s not hard to see why. From an entrepreneurial standpoint the benefits are plentiful. The right business partnership is like a good marriage – not only do you have someone who shares your vision but you also get help with the financial and practical side of business ownership. This being said, partnerships do have their disadvantages. For example, in a business partnership, individual partners are personally liable for all the business's obligations...
You may have missed a new rule from the Federal Trade Commission that took effect this month, beginning Oct. 1. If your business accepts payment by credit or debit card, these new rules of the merchant superhighway may help you lower your cost of doing business. The rules deal with interchange fees for debit card transactions, the discounts on the purchase price you offer your customers when they pay in certain ways, minimum dollar amounts for credit card purchases, and the networks available for routing debit card transactions....
The mobile application market is hot business. Driven by the adoption of smart phones, tablets, and the lowering of data costs, the total global market for mobile application (app) technology is expected to be worth $25 billion by 2015 (source: Markets and Markets). If you’re an entrepreneur, or even an accidental entrepreneur, and are interested in developing and marketing a mobile app, there are some legal considerations you need to be aware of that will both protect your business venture and the interests of your consumers. Here...
This article is part two in a two-part series in which Susan Wilson, director of the Office of Intellectual Property Rights of the U.S. Department of Commerce’s International Trade Administration shares tips and tools for protecting and enforcing your intellectual property rights in foreign markets (read Part 1 here). You’ve worked hard to develop your products and services and to grow your small business, and you feel the time may be right to enter the international marketplace. But now you realize there is another step...
Top Rated Articles
About This Blog
Legal terms and rules explained
- July 2014 (12)
- June 2014 (17)
- May 2014 (23)
- April 2014 (28)
- March 2014 (21)
- February 2014 (16)
- January 2014 (22)
- December 2013 (15)
- November 2013 (26)
- October 2013 (17)
- September 2013 (24)
- August 2013 (21)
- July 2013 (26)
- June 2013 (24)
- May 2013 (29)
- April 2013 (29)
- March 2013 (27)
- February 2013 (26)
- January 2013 (30)