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Author Archives: Molly O'Leary

When businesses are liable for employee conduct

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 ...

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‘Freedom of contract’ has its limits

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 ...

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Business agreements and the Supreme Court

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 ...

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A pre-nup for business partners

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’ ...

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Workers’ compensation insurance is your friend

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” ...

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Time to clean up your act

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 ...

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Maintaining a wall between personal assets and a business entity

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 ...

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For your business, “LLC” or “INC” carry a lot of weight

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 ...

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50 ways to lose your business

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 ...

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