Stephen Kaplan, P.C. Full-Service Business Law Firm
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As an LLC member, signatures matter

Each limited liability company (LLC) has its own structure, comprised of one, a few or many investors and decision makers. Like any other enterprise, different members have different roles while representing the larger body together.

Creating a viable succession plan for your family business

Ensuring business continuity should be given just as much thought as other business strategies, but it is often put off or overlooked. According to the U.S. Small Business Administration, less than 30 percent of small business owners have a formal succession plan. Given that 90 percent of U.S. businesses are family owned and less than 15 percent succeed to the third generation, the importance of a succession plan cannot be overstated.

Does A New LLC Need An Operating Agreement?

When forming a limited liability company (LLC), business partners often wonder whether they really need a written operating agreement. At the outset, they may feel like they are all on the same page, so putting it in writing in an operating agreement seems like an unnecessary expense. However, this single document could prevent costly partnership disputes that may arise later, and the beginning is the perfect time to create one.

When Should A Business And A Vendor Break Up?

The recent end of the partnership between Sears and Whirlpool illustrates that no business relationship lasts forever. For many businesses, the real challenge is determining when to bring a vendor partnership to a close. That question is complex, but looking at the end of the relationship between retailer Sears and appliance manufacturer Whirlpool can offer some lessons on timing.

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