While inexpensive to set up, a general partnership, potentially saddles the partners with big personal liability. As your business grows, consider a business structure that limits liability for owners, such as a limited partnership, limited liability company or corporation. Pros and cons of a general partnership Here are some of the pros and cons to […]
If you own a small business, either alone or with partners, consider forming a limited liability company. With an LLC, your personal assets are protected from business creditors and from business-related lawsuits. At the same time, you maintain flexible management and are taxed only on your share of the profits. Consult a business formation attorney […]
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There are some cases where a party is legally excused from performing its contractual obligations. This can happen when a contract becomes impossible to perform due to unforeseen circumstances. Other times, contracts can be rescinded in cases of fraud or misrepresentation. If an issue has arisen that might affect your ability to fulfill your duties […]