Business Law Articles

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What Do You Do If You Have a Bad Business Partner?

To deal with a bad business partner, speak to the partner about your concerns. If talking doesn’t work, you may close the doors by dissolving the business, selling your share to the partner or another person, buyout the partner, or suing the partner.

What Are My Rights as a Business Partner

In a General Partnership, all business partners have equal responsibilities and decision making for the operation and management, unless stated otherwise in a partnership agreement.

How Do I Remove a Business Partner from a Partnership?

Do you want to know how to get rid of useless business partner? Business partners can be removed from a company by looking at the standards and procedures in the partnership agreement. Alternatively, look for a “buy-out” paragraph in the contract to force a business partner out.

Is It Hard to Prove a Verbal Agreement?

Trying to prove a verbal agreement in court is hard but not impossible. To prove a verbal agreement, the court will examine evidence should as emails, text messages, invoices, receipts, and the parties’ conduct relating to the verbal agreement.

Family Member Stealing from Business

The best way to reduce the chance of embezzlement from a family business is to provide education to all employees, implement strict rules about how the company’s assets and funds can be used, and put in place controls that will spot wrongdoing immediately.

Can You Force a Business Partner Out?

Partnership agreements and partnership law guide business partnerships. The partnership agreement determines when and how one partner may force another out of the business.

Can I Take My Business Partner to Court?

You can take a business partner to court by suing the partner. You may use the business partner for embezzlement, breach of fiduciary duty, fraud, or negligence.

7 Tips for Buying Out a Business Partner

There are many reasons to buy out a business partner, including giving you complete control of the company. The steps for buying out a business partner include: 1) Determining the assets you’re buying, 2) Clear communication, 3) Hire an attorney and CPA, 4) Retain expert in business valuation, 5) Draft a partnership buyout agreement, 6) Determining buyout financing…

Business Partner Dispute Laws

Disputes between business partners are common. However, business partners’ dispute becomes a legal problem when sabotage, stealing, misappropriation, embezzlement, or violation of employment and business partnership laws.  

What to do if someone breaks a verbal agreement?

If someone breaks a verbal agreement, the first thing to do is to determine if the verbal agreement is valid. If the agreement is valid, hire and lawyer and sue for money damages or specific performance.

How to Register a Business Name in California

To register a business name in California, check if an existing business already uses the name. Then, register the business name with the California Secretary of State if the company is going to be an entity. Register the business's name with the city’s county recorder if the business is not an entity.

Is a Verbal Contract Enforceable in California?

A verbal contract is generally enforceable in California, with some exceptions. Two of several exceptions to enforcing oral contracts are contracts that involve real estate leases, buying or selling real estate.

7 Best Women Business Organizations

For women business owners, it is critical to develop connections with fellow professionals in order to create useful networks. There are plenty of associations that support women, and which can be very beneficial for small business owners looking for advice and fellowship.

5 Unsecured Business Credit Cards for Startups

What is an unsecured business credit card? An unsecured credit card does not require a personal guarantee from the business owner. Small business owners prefer an unsecured credit card.

Advantages of Buying an Existing Business

Starting a new business is challenging. Buying an existing business has its advantages, including knowing what is already there and improving on it: trained employees, existing customers, and operating expenses.

SBA CAPLines

SBA CAPLines are SBA lines of credit that help a small business improve short-term cash flow. The SBA CAPLines have four types of credit: 1) Seasonal CAPLine, 2) Contract CAPLine, 3) Builders CAPLine, and 4) Working CAPLine.

Deceit Definition | Definition of Fraud

Deceit as defined is tortious fraud or deceit occurs when a party “willfully deceives another with the intent to induce him to alter his position to his injury or risk.” Civ. Code § 1709. Fraud has three meanings: 1) A person made a false promise, 2) A person conceal important facts, and 3) A person intentionally misrepresent an important fact.

Is Small Business Loan Secured or Unsecured

Although a small business loan may be secured or unsecured, nearly always, the loan is secured. The bank loans are nearly always secured by the business’s accounts receivable, intangible assets, and tangible property, if any exists.

5 Steps on How to Build Business Credit with Bad Personal Credit

It is challenging but not impossible to build business credit if an entrepreneur has bad personal credit. A good credit score can set a business up for success. Even if a business owner has a poor personal credit score, he or she should still try to build up their company’s credit score.

3 Advantages of Balance Sheet

The benefits of a balance sheet assist business owners in having an overview of their income, assets, and liabilities. A balance sheet is necessary for lenders to determine how much money to loan a company.

What does principal mean on a loan?

A loan principal is the amount of money that is borrowed. For example, when a bank approves and loans a person or business $100,000, that $100,000 is the loan principal.

Payment Upfront Meaning & 5 Tips for Getting Upfront Payments from Customers

Upfront payments can be beneficial to many small business owners. Upfront payments protect the owner emotionally and financially. There is no fear of customers disappearing without paying for products or services. It is also a great method by which to build trust with customers. It can also help improve cash flow, thereby letting the business grow and flourish.

Where Can I Cash a Business Check?

If a person doesn't have a checking account to deposit the check, the business check may be cashed at the bank that identified on the check. Alternatively, the business check may be cashed at a check-cashing service: Walmart Money Center, Payday Advance, Moneytree, ACE Cash Express, Speedy Cash, etc.

Assets that Can Secure a Loan

What assets can be used for a secured loan? The assets that can secure a loan includes: home, property, stocks, bonds, vehicles, CD account, fine art, gold, etc.

How to File a DBA in California

All person and business entity must file a fictitious business name (FBN) statement with the Registrar-Recorder/County Clerk's office in the city where the business will be located.

9 Steps on How to Start an Online Thrift Store Business

This article will review the details of each step, thereby helping the aspiring thrift store owner get started. By following each of these steps, an entrepreneur can look forward to finding business success with their online thrift company.

Documents Needed for Business Valuation Checklist

The documents needed for a business valuation are as follows: 1) Financial Statements (Balance Sheet, Profit & Loss Statement), 2) Account payable and Account receivable with ageing report, 3) Tax Returns...

Average Revenue For Small Business

A few major points can be taken away from these statistics. First, a small business owner should not expect to become wealthy – certainly not immediately – from their business.

Average Income Small Business Owner

As business owners, we're like to compare ourselves to other small business owners. Business owners often wonder how much do small business owners make? The small business owners' average income is less than we think.

22 Sources of Free Money to Start a Business

Many entrepreneurs want to start a business but have no money. There are plenty of federal, state, and private small-business grants that can help a new business owner start a small business.

5 Tips on How to File a DBA in San Diego

If a business owner files for a DBA with the state of California, a business is also required to file a DBA in San Diego County if that is the principal place of business.

How to File a DBA in Los Angeles

DBA is “doing business as” may also be referred to as a fictitious business name (FBN) or a trade name. State rules regarding filing a DBA apply to everyone in California, whether a business owner files for one in Los Angeles or San Francisco.
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