With COVID-19 cases increasing across the U.S., many states are pausing their economic recovery plans while leaders contemplate new or increased measures to restrict the virus’s transmission. Leaders in the Lone Star State continue to work on measures to protect...
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Business Transactions
Business applications surge across U.S. during pandemic
According to a new report from the U.S. Census Bureau, entrepreneurs filed more than 1.5 million applications for Employer Identification Numbers during the third quarter of 2020 – a more than 77% increase from the second quarter. What some consider even more...
When is it a good idea to seek a business partner?
Deciding whether to move forward with a business partnership is among the most important decisions you can make as a business owner. For some, a partnership may not be a good idea. For others, a partnership may give their business the propulsion and strategy it needs...
Benefits of a sound business succession plan
For many successful business owners or partners, the thought of stepping down hasn’t crossed their minds, especially when retirement is still a long way off. The same is true for choosing the right person to take over. That’s understandable, as growing a company’s...
Timeframes, due diligence and merger reviews in Texas
Mergers between companies in Texas and other states could take several months or over a year to complete. A successful transaction generally requires a thorough review of each party's existing business, product lines and debts. Companies negotiating a merger could...
What do most employment contracts miss?
Employees are a valuable asset. In many businesses, they are the most valuable asset. In some industries, employment contracts are normal and expected. They can be beneficial to an employer if properly constructed. While your employee gets certain protections for...
What should I include in my buy-sell agreement?
Transferring your ownership of your company is a critical transition in your financial life and in the life of your business. Planning when and how you move out of an ownership role requires thoughtful consideration of how to address many possible situations. The...
Keeping terms consistent in company contracts
Managing contracts is an essential part of doing business. You and the other companies you do business with count on your contracts to define your promises. The contract can seem clear as you finalize negotiations, but when it comes time to look at the details, it can...
Choosing the right contract type
Often, when you start a business, you work with more than just your clients. You work with other companies, too. Although you may not have formal contracts with your customers, you may find yourself negotiating contracts to get the supplies and other services you need...
Signs a business negotiation is not going well
Some enjoy the art of making deals, negotiating agreements and contracts may not be a source of worry. The debate and discussion between current and future partners may be an exciting part of owning a business. For business owners who are new to negotiation or who...