If you own an interest in a closely held business, whether a collision repair shop, brewery, restaurant, manufacturer, distributor or contractor, no matter the industry, it’s critical to have a well-designed, properly funded buy-sell agreement. It provides a business’s owners and their families with valuable protection and assures continuity in the business. THE RISKS The . . .
Benefit Corporations (BCs) are not limited liability companies, C corporations, S corporations or partnerships. They are a new type of entity that is becoming more popular as many states pass legislation to establish them. The sustainable business movement is having an impact on investment, and social enterprise sectors are developing rapidly, particularly in the . . .
Last month’s column dealt with getting ready for a downturn. Much of the column discussed appropriate steps to take to minimize issues if, for some reason, the franchise business has to go through a restructure. Some of the key discussion points from last month’s column dealt with unproductive assets, getting a corporate structure in place . . .