When businesses are liable for employee conduct
POSTED: Wednesday, May 16, 2012 at 04:33 PM PTBY: Molly O'Leary
Most business owners like the idea of being self-employed and, therefore, the “master of the universe.” But the downside of that dominion is that sometimes the business and/or its owner(s) may be liable in damages for its employees’ conduct even when it doesn’t occur directly “on the job” or with the business owner’s knowledge and [...]
‘Freedom of contract’ has its limits
POSTED: Wednesday, April 11, 2012 at 08:25 AM PTBY: Molly O'Leary
Generally speaking, public policy favors the right of two or more people to enter into an agreement for whatever purpose they agree upon. In legal terms, this policy is called “the freedom of contract.” But the freedom of contract is not without limit. Take for example a recent Idaho Supreme Court case dealing with a [...]
Business agreements and the Supreme Court
POSTED: Monday, March 19, 2012 at 03:37 PM PTBY: Molly O'Leary
Last week this column discussed the importance of having a “pre-nuptial” agreement whenever two (or more) people decide to go into business together, whether as partners, co-owners of a limited liability company, or shareholders of a corporation. For partnerships, the document is officially called a “Partnership Agreement”. For a limited liability company, the agreement is [...]
A pre-nup for business partners
POSTED: Wednesday, March 14, 2012 at 03:26 PM PTBY: Molly O'Leary
If you’re planning to “get hitched” with a business partner, you need a pre-nuptial agreement. For a limited liability company, the document is officially called an Operating Agreement. For a corporation, the relevant document is referred to as a “Shareholders’ Agreement”. For a partnership, the document is called a “Partnership Agreement”. The concepts discussed below [...]
Workers’ compensation insurance is your friend
POSTED: Wednesday, February 15, 2012 at 10:51 AM PTBY: Molly O'Leary
In my practice, I occasionally come across small business owners who appear to be confused regarding the difference between an independent contractor and an employee. Oftentimes, this confusion is fueled by a misguided belief that it is better to “1099” everyone who performs services related to the operation of their business and thus avoid those [...]
Time to clean up your act
POSTED: Monday, January 16, 2012 at 04:41 PM PTBY: Molly O'Leary
BE IT RESOLVED … to clean up your business “act” in 2012. Here are a few suggestions of areas where most small businesses would do well to pay more attention: 1. Take inventory. No, not the widget-counting kind (although if you’re in the widget-selling business that type of inventory is likely in your future, anyway). [...]
Maintaining a wall between personal assets and a business entity
POSTED: Tuesday, December 13, 2011 at 03:06 PM PTBY: Molly O'Leary
Filed Articles of Incorporation or Certificate of Organization with the Idaho Secretary of State’s Office? Check. Approved bylaws or, in the case of an LLC, an operating agreement? Check. Obtained a federal Employer Identification Number? Check. Contacted the local media about your grand opening? Check. Unfortunately, that’s about as far as some business owners go [...]
Dream up a catchy business name – and then research it
POSTED: Wednesday, November 9, 2011 at 11:10 AM PTBY: Molly O'Leary
As a business attorney who specializes in working with small and medium-size businesses, one of the hardest things to see is a great business idea fail due to simple mistakes that can be easily avoided. This column is dedicated to helping entrepreneurs avoid some of the most common pitfalls of starting and running a business [...]
For your business, “LLC” or “INC” carry a lot of weight
POSTED: Thursday, October 27, 2011 at 12:41 PM PTBY: Molly O'Leary
As a business attorney who specializes in working with small and medium-size businesses, one of the hardest things to see is a great business idea fail due to simple mistakes that can be easily avoided. This column is dedicated to helping entrepreneurs avoid some of the most common pitfalls of starting and running a business [...]
50 ways to lose your business
POSTED: Tuesday, September 13, 2011 at 10:13 AM PTBY: Molly O'Leary
As a business attorney who specializes in working with small and medium-size businesses, one of the hardest things to see is a great business idea fail due to simple mistakes that can be easily avoided. But there are ways entrepreneurs can avoid some of the most common pitfalls of starting and running a business. Contracting [...]
