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Anything involving commercial transactions, or the buying or selling of a business.

Understanding Contracts: Asset vs. Stock Purchase

So, you’re looking at purchasing someone’s business or selling your business, but what exactly does that mean?  You have two primary options: an asset purchase or a stock purchase.  It’s very important you understand the differences in order to know which one is best in your situation. What’s the difference? Asset Purchase With an asset […]

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The Report Card for Businesses- What is a Certificate of Good Standing and How Do I Get Mine?

Certificate of Good Standing

No matter how old we get or how many businesses we own, we are never free of the dreaded “Report Cards” of life. As adult individuals we must concern ourselves with the data listed on our personal credit reports. As business owners and leaders, we must be aware of “Certificate of Good Standing”. For many […]

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How To Move a Pre-Existing Business Into a Newly Formed Company

You listened to your business lawyer, and formed a limited liability company (called LLC) or corporation (such as a C-Corp or S-Corp), and you want to move your pre-existing business into the new company. This is actually a common question, and it’s really important that you do it right. How you do this, depends on […]

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What is Consideration in Contract Law?

In previous blog articles, we talked about Exceptions That Can Void A Contract and How to Get Out of a Contract. Both of these articles touch on a very important aspect of contract law that is often overlooked by small business owners: Consideration. Definition Consideration under contract law is defined as a bargained for exchange […]

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Boilerplate Matters in Contracts

I’ve been running into a lot of contracts disputes lately where a party’s rights were potentially affected by missing boilerplate provisions.  Boilerplate generally refers to language that is reused from one contract to the next.  It usually has little to do with the substance of the contract.  It is easy to ignore.  But when it matters, […]

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