LLC Operating Agreements: What Critical Elements Should Be In Them? This video discusses how Operating Agreements are structured and what elements at a minimum should be in them.
Contract Basics: What Should Be In Every Vendor Contract? Some critical elements such as price, quantity, quality, delivery terms, warranty terms. How to get paid, of course, and where the contract is to be performed. Contact me if you have any questions on this or any business law issue.
Corporations: What Are Bylaws and Why Does Your Business Need Them? Bylaws are the structure of how your business operates. Who gets to make what decisions, who doesn’t get to make decisions, how to resolve disputes among owners, how to bring in new owners and get rid of old.
How to take profits from a corporation. There’s really only three ways, each of which carries with it a multitude of procedural, legal, and tax rules. Salary or wage for a shareholder; dividends; and selling shares for increased value. It’s important to consult with your lawyer and accountant before trying any of these three procedures.
Shareholders own a corporation. But what say do they get in the management and decision making within the corporation? You might be surprised at how limited it is, as I discuss in my latest Legal Insights video.