Do I need a license / permit to open my business?
That depends on what type of business you own. Many businesses do not need any special licenses or permits in order to operate their businesses. However, some businesses that engage in …
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What steps should I take to start a business?
When starting a new business, several key decisions must be made regarding the organization, financing, management, and operation of the business. First, you should do your homework – …
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Do I Need a Taxpayer Identification Number for my Business?
A taxpayer identification number (TIN) is a number used by the Internal Revenue Service (IRS) to identify people and companies. Most companies need to file with the IRS to receive an Employer …
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The Board of Directors Duties of Care and Loyalty
The stock market gives many Americans a chance to have a small ownership share in publicly traded companies. Stock holders, as partial owners of the company, share in the company’s profit and loss. However, they often have little, if any, say in the business decisions of the company and they have no control over the everyday operations of the company. Instead, it is the …
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What Happens When a Contract is Broken?
A contract is a legally enforceable agreement between two or more parties. So, how do you enforce it if it is broken by one of the parties? That depends on how exactly the party breaches the contract. A minor, or nonmaterial, breach of contract entitles the non-breaching party to actual damages suffered. Therefore, if your mechanic used a different brand of oil that was of at …
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