Why You Should Never Use a Single Entity to Own Multiple Businesses

Many business owners use entities such as corporations and limited liability companies (LLCs) to hold their business assets.  This is because these types of entities offer business owners something called limited liability. With an entity such as a corporation or LLC, a person’s liability is limited solely to their ownership interest in that entity.   Should the entity incur liability or other debt, Read More

Sorry, But You Can Actually “Form an S-Corp”

When I ask business owners what type of entity they’ve already formed for their business and they answer “I formed an S-corp,” I start to cringe. I don’t cringe because they’re wrong (which they are).  I cringe because they are lacking basic knowledge about a fundamental part of their business.  If you don’t know everything there is to know about your business, let alone the type of entity you Read More

Disadvantages of Arbitration

Arbitration is a procedure that parties to an agreement may use in order to resolve their disputes outside of the courts.   Litigating in court is often an expensive, time-consuming and emotionally draining experience.  In order to avoid this, many parties to a contract agree to arbitrate, rather than litigate, through a contractual provision called an arbitration clause. Read More

Advantages of Arbitration

Arbitration is a procedure that parties to an agreement may use in order to resolve their disputes outside of the courts.   Litigating in court is often an expensive, time-consuming and emotionally draining experience.  In order to avoid this, many parties to a contract agree to arbitrate, rather than litigate, through a contractual provision called an arbitration clause. Read More

A Brief Guide to Your Business Entity Options

When it comes time to officially start your business, one of the first things you need to do is select an entity structure. There are several types of business entities to choose from, each with its own advantages and disadvantages. Your choice can have a significant impact on the way you run your business, from taxes to liability to company control. The key is finding out which business structure gives you the Read More

What in the Heck is CAM?

Many commercial leases require tenants to pay CAM. CAM is an acronym for Common Area Maintenance fees.  It is extremely important that you understand the CAM fees in your commercial lease and how they are both calculated and charged.   CAM charges are often found in the same lease provision that discusses base rent charges.  When calculating your monthly payments, it is imperative that you Read More

Doing Business As? What You Need to Know About DBA Status

When running your own business it is easy to get overwhelmed with the number of documents and other legal work that you are responsible for. One of the most common documents that many business owners need is called a fictitious name, a DBA, or “Doing Business As.” This legal document is also misunderstood by many people, which can result in failing to file a DBA when it is needed. What Is a DBA? A DBA is a document Read More

5 Differences Between Commercial and Residential Leases

Leasing real estate is a very common activity that millions of people do every year. Whether you are looking to lease residential or commercial real estate will make a big difference in your rights and responsibilities. Understanding the differences between these two types of leasing will help ensure you engage in this activity properly. Residential Leasing is Intended for Day-to-Day Living Residential leases are Read More