Strategic Tips for Approaching Lenders and How to Choose the Right One

For those small businesses that are looking to obtain debt financing or to refinance existing debt, there are some strategic planning tips to consider in approaching and selecting a potential lender. As the saying goes, you only get one chance to make a first impression.  With lenders, this first impression is all-important.  Failing to make a good one can be the difference between a lender making or not making a loan.  And, this first impression will also significantly influence the . . . Read More

“Are You Being Served?” If So, Your ESI Must Be Preserved!

Unlike the classic British sitcom “Are You Being Served?”, as any business owner who has been on the receiving end of a threat of litigation or was served with a complaint can attest, there is nothing remotely amusing about what is in store for the company. And one of the most challenging, time-consuming and costly aspects of litigation is the discovery process—whereby each side, if asked through interrogatories and document requests, must show its respective hand, in the process producing . . . Read More

Can You Have A Partnership of One and Why The Answer Matters to Joint Ventures

By Kimi Murakami Companies can come in all different shapes and sizes. They can be traditional C corporations, limited liability companies, general partnerships, limited partnerships, S corporations, joint ventures (“JVs”) or various combinations of the above. Selection of corporate structure should be made in consultation with your legal and tax advisors as it is critical when initially forming your company, particularly if you intend to perform government contracts. As with many decisions in running a government contract business, what may . . . Read More

Selecting the Right Employee Incentive Plan Can Be Tricky

The purpose of an employee incentive plan, regardless of the specific type or form that it takes, is to more closely align a key employee’s financial interests with the company’s. The company owners’ challenge when developing and implementing an employee incentive plan is to strike the right balance between allowing key employees to share in the company’s upside success, while at the same time protecting the company’s downside risk in the event one or more of the key employees fails . . . Read More