Many new business owners believe that giving a percentage of the business to employees will create a sense of ownership in this business and engender greater loyalty and work ethic. [...]

If you have read through points 1-10, you realize that you may know a lot about the product or service you sell, but there are many aspects to running a [...]

One of the main reasons we form corporations or LLCs is to avoid personal asset exposure for business liabilities. This “corporate (or company) veil” of protection that an entity provides [...]

This can be one of the costliest mistakes in operating a business. The list of potential problems is too long to share in this format, but agreements, even between trusted [...]

Another basic question Scheufler Law asks entrepreneurs is “What is your exit strategy?” More often than not, the response is a blank stare. Entrepreneurs are frequently so excited about the [...]

The old adage “failing to plan is planning to fail” is so relevant when it comes to business. And how would you know if you are succeeding if you don’t [...]

Trademarks and tradenames can be the most valuable asset of a business. The goodwill, or reputation, associated with a name or mark often determines the value at the time of [...]

Each business structure or entity, whether a sole proprietor, general partnership, limited partnership, limited liability partnership, limited liability company, and corporation (c-corp or s-corp), has advantages and disadvantages. There are [...]