Firm News and Law Updates
Running a small business in Pennsylvania can be both rewarding and challenging. One of the challenges many Pennsylvania small business owners face is dealing with employment disputes. These are disagreements between employers and employees that can lead to lawsuits. Let's break down the main types of employment disputes and how you can avoid them
Read MoreNo one would buy a boat and set sail without ensuring it's insured in case of storms or unexpected challenges. Insurance coverage in a business is like checking if your boat has the proper protection.
Read MoreWhen you buy a safe, you want to ensure that it can't be easily cracked and it protects what's inside. Data privacy and security in a business are like checking the digital fortresses for potential vulnerabilities.
Read MoreThink about buying a house. Before you sign on the dotted line, you want to ensure the foundation is solid and there are no hidden surprises. Real estate in a business is like checking the property for potential issues.
Read MoreImagine you're about to buy a boat. Before sealing the deal, you want to ensure it doesn't leak. Financial matters in a business are like checking the boat for leaks.
Read MoreYou're about to buy a piece of land. Before closing the deal, ensure it's not a protected nature reserve or contaminated. Check the health of the land by examining environmental and regulatory issues
Read MoreImagine you're about to buy a ship. Before setting sail, you want to ensure the crew is content and the vessel is seaworthy. Employee and labor matters are like checking the crew and the ship's condition. Here's why it's crucial.
Read MoreYou're about to buy a business, and it's like stepping onto a new land. But before you plant your flag, you must check the legal terrain. Litigation and disputes are like hidden traps in the landscape. Here's why you need to tread carefully.
Read MorePicture this: You're steering a ship into new waters—the business world. But just like on the open sea, there are rules and regulations. Regulatory compliance is like your navigation chart. Here's why it's crucial:
Read MoreHave you ever thought about what makes a company unique? It's not just the products or services—it's also the creative treasures, the Intellectual Property (IP). Here's why understanding IP is crucial when buying a business:
Read MorePicture this: You're about to buy a business, and it's like opening a treasure chest. But instead of gold coins, you find contracts and agreements. These legal documents are the backbone of any business.
Read MoreUnderstand the target company's corporate structure. It is like taking a closer look at its organization and operation. It's essential as it affects decision-making, responsibilities, and the success of your acquisition.
Read MoreLegal due diligence in M&A (Mergers and Acquisitions) for SMBs (small and medium-sized businesses) involves thoroughly examining the target company's legal aspects. You want to identify risks and liabilities that could impact the transaction's success.
Read MoreWelcome back to the "No B.S. Legal Solutions" series! In this blog, we are tackling one of the first and most crucial decisions you will make as an entrepreneur: choosing the proper business structure. Think of it as the foundation of your business – get it right, and you are off to a great start.
Read MoreHey there, future business leaders and entrepreneurs! Welcome to our blog series, "No B.S. Legal Solutions." Sure, that might make you think, this is B.S. Well, you are right. The Skeen Firm principal, Brocton Skeen, believes in Main Street business and simplifying complex legal issues so those business owners can better serve their communities. If running your business efficiently and legally is essential to you (it should be), you are in the right place if you want to dive into the business world and make your entrepreneurial dreams a reality.
Read MoreWhen an entrepreneur establishes a company, they often focus on the excitement of their new venture and the growth potential. That said, it is equally important to consider the legal aspects that govern shareholder relationships and responsibilities. A shareholder agreement is a crucial document that outlines the rights, obligations, and protections of all parties involved in a corporation. This blog post will provide an introductory overview of shareholder agreements, their key elements, and why they are essential for business success.
Read MoreThat Warren Buffett fellow is really onto something, and that’s not even considering his inclusion on the Forbes 400. So, what exactly is he onto? Glad you asked! His company, Berkshire Hathaway Inc., is the gold standard of a holding company (holdco). Hold up, what was that term? A holdco, sometimes known as a parent company, is an entity that owns investments in the form of stocks, bonds, other companies (operating companies/opco), or anything of value. With the definitions out of the way, we can move on to how a holdco can help SMB owners.
Read MoreA lot of small business information available today focuses on LLCs. And while we are big fans of LLCs, there is a more direct and simple solution to get a business going. That solution is a partnership.
Read MoreLLCs are great for their ease of management and minimal corporate formalities. But, as a business scales, it could attract investors. Those investors are otherwise known as venture capital funds (VC). VCs prefer to invest in C Corporations. There are many reasons like tax considerations and exit strategies. For some business owners accepting fund investment was not on their radar when forming their business. Remember, one of the main considerations of forming a corporate entity is personal asset protection.
Read MoreBob is back and his assets have grown. Now is the time to think about organizing his business to protect his assets. The simplest method to do that is through a Limited Liability Company (LLC). Yes, Bob will get certain tax benefits, but that is not the most valuable attribute an LLC provides. The most valuable attribute of an LLC is asset protection for its members. The fact that it is not as formal as a corporation is a major bonus too.
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