Letter of Intent When selling a business, the first thing you do is enter into a letter of intent with the buyer or prospective buyer. A letter of intent is a non-binding agreement; however, it sets the stage for what is typically known as a definitive agreement. It’s non-binding in the sense that the parties… Read More »

Most insurance companies that provide liability will hire a lawyer to defend you and also have money to pay to settle a claim or to pay a judgment. However, some policies are wasting policies, which means that the money that is spent to defend you is reducing the amount of available settlement value. Types of… Read More »

The location where a lawsuit is tried can have an important impact on the outcome of the litigation. The location, or the forum, will determine the judge who hears the case. The jury pool that decides the case will often influence the substantive law and will also affect the procedural law. For example, there are… Read More »

The Trust Fund Recovery Penalty is an important penalty that all business owners should be aware of. What is the trust fund recovery penalty? It’s a 100% penalty that is imposed upon responsible persons who are responsible within the organization to collect and pay IRS taxes. Who is responsible for collecting and paying IRS taxes… Read More »

Protecting your intellectual property is critical to success in your business. Entrepreneurs and business owners should always consider necessary protections for products they create before making large strides to market it. How do you go about finding the necessary protections? You can protect your products through copyrights, patents, trademarks and more. Take a look as… Read More »