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Cleburne Legal Blog

Are you ready to create a buy-sell agreement?

Owning a business means understanding that you will not always be around to run the company. The time may come when you choose to retire, or you may suffer from a disabling event in the future or pass away, any of which will make it impossible for you to continue owning and operating the company.

Because such possibilities exist, having a buy-sell agreement in place could greatly benefit your business. This document would allow you to have arrangements in place for the continuation of the business in the event of your retirement, disability, passing or other event that prevents you from moving forward with the company.

Contracts for your employees could be good for your business

Texas business owners understand there are various challenges associated with owning and operating a small business. One of the unique issues you may have to address is how to deal with your employees. Regardless of the type of company you have, it can prove beneficial to draft employment contracts. 

Employment contracts are a simple yet effective way you can protect your company and prevent many types of complications in the future. Written contracts provide both parties with significant benefits as they allow for everyone involved to know and understand their rights and obligations. If you do not have employment contracts or believe you should implement these in the future, it can be helpful to understand how to draft effective and enforceable agreements.

Working with vendors can help your company grow

Though you may have been the one with the great idea for a service or product, you likely understood from the beginning that your business venture could not move forward without the help of others. Even if you had the ability to carry on for a certain amount of time without seeking assistance from outside your inner circle, your success may mean you need to work with vendors, suppliers or manufacturers.

While you may feel a bit intimidated by working with outside companies, you may want to recognize this moment as the milestone that it is. This needed action likely means that your business has grown to a point that you cannot fulfill the necessary operational needs on your own, and that is a point about which to feel proud. Of course, you may still feel apprehensive about working with the right suppliers.

Protecting your business when you need to let an employee go

It's never easy to terminate an employee. Even if you have clear cause to do so, you may wonder about the potential ramifications of your actions. You may wonder if it will somehow affect your business, especially if the employee was subject to a non-compete or non-disclosure agreement. You may wonder whether he or she will file a wrongful termination claim against you, even though the law is on your side.

Truthfully, these are very real risks when you terminate an employee. However, you may be able to take steps to help ensure that your employee departs on the best terms possible. In some cases, you may have time to properly document a termination, but in others, that opportunity simply doesn't exist. How you address the situation could make all the difference.

Are you ready to dissolve your partnership?

Over the years, your company has grown and had its ups and downs. When your business first started out, you entered into a partnership because you and your partner felt that path was right for the goals and ambitions of the business. However, you may have come to the point, as many partners do, where you feel that the business relationship no longer works.

After much discussion, you and your partner may choose to dissolve the partnership. Of course, this type of relationship is not one from which you can simply walk away. Indeed, you must take the proper legal steps to ensure that the dissolution takes place in a manner that protects the soon-to-be former partners and the company.

Should you change your company's business type?

When you first started your business, you undoubtedly gave much thought to the type of business entity you wanted to create. Because you were starting out small, you likely did not believe that you needed a business type that involved many complex aspects. After doing your research, you picked an entity that you believed best suited the needs of your company at the time.

Of course, now that your business has been up and running for some time, you may wonder whether your entity still suits those business needs. However, you may also wonder whether changing your business type is possible or necessary. To answer the first question, it is entirely possible to alter your type of entity. As for necessity, many reasons could lead to such a change.

5 questions to ask when creating a noncompete agreement

For various reasons, you may have decided that your company should utilize noncompete agreements when working to prevent your trade secrets or other important information from falling into the hands of your competitors. These agreements certainly have their uses, and if you believe that having such a contract could work toward protecting your company's best interests, it may prove wise to gain more information on these agreements.

In particular, you may want to focus on the enforceability of any contracts you create. Many business owners feel surprised to find out that their noncompete agreements do not meet enforceability requirements. As a result, they may not provide as much protection as hoped.

Are you ready to pass on the reins of your company?

Because you hold both your family and your business close, you certainly want to ensure that you take care of them. As a result, when you begin thinking about your retirement or possible demise, you will want to know that your family and company remain in good hands. Fortunately, business succession planning could prove useful in this respect.

When thinking about who you want to take over your business and how you want the company to continue to operate, you will likely have many aspects to consider. Wanting to keep the business within the family is understandable, especially if your children already work as part of the company. However, you still need to make sure your successor is the right fit for the job.

Lease terms can have a significant impact on your business

As a small business owner, you know how important it is to have appropriate space to run your business operations. Commercial real estate can be difficult to come by for small businesses in Texas, yet there are many things to consider when negotiating a lease. Lease agreements are serious, and the terms can have a significant impact on your operations and financial health.

If you think you found the perfect location for your company, it can be tempting to forge ahead and sign on the dotted line as quickly as possible. However, there are significant benefits to seeking guidance as you make important decisions, even allowing a legal ally to negotiate the commercial lease on your behalf.

Collecting debt the right way is good for business

As a small business owner, collecting money people owe you is a part of doing business. In many cases, people will simply pay what they owe without issue, but there are times you will have to deal with difficult customers who refuse to pay for services rendered or products received.

In cases in which there is a dispute over owed balances and collections, you may find it beneficial to seek a full understanding of how you can protect your rights as a business owner. You have the right to take appropriate measures to secure the money owed to you, but it is prudent to know what you can and cannot do as you undertake this effort. Many Texas business owners find it beneficial to seek legal guidance as they pursue a beneficial solution for collections disputes.

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Cain & Associates
508 N Ridgeway Dr.
Cleburne, TX 76033

Local: 817-506-3233
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