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Sometimes two (or more) people are needed to get a business going. Unfortunately this arrangement does not always end well - not because of the business model but due to the partners not being able to work together.
The following is an excerpt from an Inc. article that details how two friends in NYC have been able to coexist and succeed as business partners in one of the most difficult industries, restaurants, for almost thirty years without a single argument(!):
Read moreCongratulations! After turning down opportunities for additional work and/or spreading yourself too think – it is now time for you to bring on anther person. Transitioning from an entrepreneur to an employee may seem simple enough, but before signing that first paycheck there are several matters you must handle: legal obligations, liabilities, expenses, and paperwork.
Read moreEarlier this month, Jimmy John’s was in the news and not for their sandwiches, but for their questionable business practices. Namely, the non-compete agreements (NCA), employees sign prior to making their first Turkey Tom, is the basis of a proposed class-action lawsuit against the restaurant. It was revealed that Jimmy John’s NCAs contained language, that would make it difficult for a current employee to go work for another deli, regardless if it were a national chain or a local establishment. More specifically, the NCA stated:
Read moreIn the previous post, we discussed two entities that are available to Michigan businesses. In this post we discuss the final three entity types - corporations, limited liability corporation, and non-profit corporation:
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