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If you are involved in running a business, especially certain types of businesses like corporations, you may have heard the term “fiduciary duty.” This is a core concept that can have major consequences for anyone involved in running a business at a high level. But what exactly is a fiduciary duty in the context of business law, and what happens when someone breaches it?
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Any business that deals with intellectual property- be they copyrights, trademarks, or patents- may need to deal with licensing agreements at some point. However, these types of agreements can be fairly complex, and can easily lead to disputes if not handled with care. But what exactly is a licensing agreement, and why might you need one for your business?
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A Limited Liability Company, or LLC for short, is a type of business organization that is used widely throughout the United States. For many people, LLCs can provide substantial financial and legal benefits, without all of the complexity associated with corporations. But how can an LLC potentially benefit your company, and is it right for your business?
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While there are many ways to potentially organize your business, one often-overlooked option that can work for many companies is the so-called “S-Corp.” Depending on your circumstances, it can be a great way to minimize your legal liability and save on taxes, while still benefiting from the protections that a corporation provides. But what exactly is an S-Corp, and how do you know if it might be appropriate for your business?
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The question of how to structure your business is essential, but the ideal business organization for you may change over time. Between legal and financial liabilities as well as the potential for growth, it can sometimes be a good idea to reorganize your company. But when might it be a good idea to consider reorganizing your business, and what are the potential benefits of doing so?
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One of the most critical decisions you can make about your business is how you want to structure it. For many people, that may mean making your company into what is known as a “pass-through” entity. But what exactly are pass-through entities, and what are the potential benefits of creating your business as one?
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