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A sole proprietorship is an unincorporated business owned and operated by a single individual. It is one of the simplest structures under which a business can operate. Under this structure, there is no distinction between the business and the owner....

An Operating Agreement is a document that outlines the financial and working relationships of the owners in a Limited Liability Company(LLC). The Operating Agreement allows business owners to set their percentage of ownership in the LLC, that is each owner’s...

When forming a business, you have to decide what type of legal entity it’s going to be. Partnerships are common for small businesses because it’s easy to set up guidelines under which the business will operate. A partnership also ensures...

Starting a business is one of the most stressful things a person can do in their life, but it can also be one of the most rewarding. With all the work that goes into starting a business, one crucial task...

An LLC, or limited liability company, is a business structure that combines elements of a partnership, sole proprietorship, and a corporation. They greatly appeal to small business owners because of how the business's taxes are reported, its management structure, and...

Recently we've been hearing about celebrities trademarking their catch phrases. Marshawn Lynch, for example, trademarked his phrase "I'm just here so I won't get fined," see article here. Similarly, Taylor Swift trademarked "This Sick Beat." Even Katie Perry's legal team...

Intellectual property (IP) refers to creations of the mind. This includes inventions, discoveries, paintings, literary works, music, designs, symbols, names, and images (photographs, graphics, etc.). Basically anything you think up and can prove originality is IP, so it covers a...

Last week we talked about Barry and Tom, two best friends who started a business together. Once they came to see us for legal advice, we encouraged them to memorialize their agreement in a formal Operating Agreement. Why? The agreement...

Many companies are subject to some kind of online review platform, be it Yelp, Angie’s list, on Facebook or on forums. Lawsuits for defamation have been on the books for centuries, but will courts consider negative online reviews defamation—allowing companies...

Barry and Tom are going to start a business together. They’re neighbors, the best of friends, they watch Monday Night Football together every week. They’re such good friends, that they decide to start their company on a handshake and because...