Facing a divorce is difficult. Facing a divorce as a business owner adds another element of stress as you navigate both the divorce and keeping your business, co-owners, customers and employees moving in the right direction. We discussed our ability to chart a successful path forward for business owners facing divorce in this issue with ReelLawyers. The material contained herein…
Shareholder disputes can arise in many shapes and forms. We discussed with ReelLawyers the types of such disputes which appear on the rise. Having an attorney experienced in shareholder dispute litigation is key to achieving an optimal outcome. The material contained herein is provided for informational purposes only and is not legal advice, nor is it a substitute for obtaining…
In transitioning to more video blogs this year, we also wanted to share more of the successes our clients we proudly serve have achieved. Landscapes Unlimited Outdoors, Inc. is a residential landscaping company that had executed a commercial purchase agreement to buy real property. When the buyer tried to back out, Schwartz Law Firm filed a declaratory judgment action in…
We discussed with ReelLawyers what sets Schwartz Law Firm apart. Check it out here! About Schwartz Law Firm The material contained herein is provided for informational purposes only and is not legal advice, nor is it a substitute for obtaining legal advice from an attorney, nor do you have an attorney-client relationship with Schwartz Law Firm unless and until the…
‘Phantom stock’ can be an effective way to keep key employees or senior management with a corporation. Rather than receiving actual stock in the corporation, the employee receives ‘phantom stock’ that follows the price movement of the corporation’s actual stock and pays out the resulting profits of the corporation to the recipient. The benefit of phantom stock to the existing…
Many business disputes start because of a breakdown in the lines of communication. While most businesses start with two or more owners all on the same page and either family, friends or acquaintances, for whatever reason while the calendar pages of business ownership change, the communication suffers. Member/manager or shareholder/director meetings stop happening. And next the open dialogue in the…
Some businesses have flourished during the COVID-19 pandemic. Some have not. If you find yourself unemployed and looking to create your own business, how do you do that? In a perfect world, you have an attorney, an accountant and a banker as part of your business creation team. Your banker can help get your business bank accounts set up and…
A common question often arises when forming a business as to what is the difference between a LLC and an S-corp. There are a number of similarities and some distinguishing factors which may impact the decision on which entity to form. In forming both a s-corp. and a LLC, articles are filed with the secretary of state to commence the…
If you serve on the board of directors of a corporation or if you are a shareholder in a corporation, you may have come across the “business judgment rule”. What is the business judgment rule and who is it meant to protect? Generally speaking, the business of a corporation is committed to its officers and directors. The business judgment rule…
Few people go into a business relationship thinking about when the partnership will fail. Partnership agreements can help ensure that the business does not fail (at least not due to internal fighting) as well as set a path towards amicable separation should disputes arise. Of course, not all business relationships end with litigation or acrimoniously. Many partnerships have only minor…