Business Q&A

 

Q: Do I need a buy-sell agreement for my partnership?
A: Most business partnerships start with the best intentions, but not every partnership ends that way. That's why buy-sell agreements are so important.

 

A buy-sell agreement is a contract between business partners that dictates who can buy a departing partner's share of the business and establishes a fair price for the partner's stake. The agreement also describes how to determine a company's value if all the owners decide to sell.

 

Q: How can I incorporate without hiring a lawyer?
A: Unless your incorporation requires complicated agreements or you anticipate thorny tax issues, you may not need a lawyer to incorporate.

 

Consider using some of the following sources: interactive software programs, tear-out forms available in published guides to incorporation, and forms available from your state government, typically the Secretary of State's office. You can also use the services of an online incorporation company such as LegalZoom.com.

 

Q: Am I adequately protecting my intellectual property?
A: Do you require your employees and consultants to sign confidentiality and invention assignment agreements? Have you registered for a trademark for an important company logo or product? Do you put copyright notices on your written information? Are your trade secrets adequately protected?

 

Q: Which workplace posters am I required to display?
A: You are required by law to put up certain posters where job applicants can see them,  including posters on the Fair Labor Standards Act and the Family and Medical Leave Act. The U.S. Department of Labor makes all of these posters available (www.dol.gov/).