How your condo association can enforce rules broken by an owner
Condominium associations fall into an awkward social role where they must provide services to the property owners that join their association while also enforcing rules among those same property owners. Everyone who buys into a condominium association will likely do so fully aware of the requirements and restrictions created by the condominium association's rules. Unfortunately, some people feel like those rules should only apply to other people, not to them. If you have had to deal with a condo owner who violates aesthetic rules, refuses to contribute to general maintenance funds, or otherwise violates condominium association rules and guidelines, you may need to take enforcement action against that individual in order to protect the property values of everyone who lives there and to ensure continued compliance among other owners…
Have you addressed environmental justice in your business plan?
When you do business of any sort, your actions will have an impact on the world around you. From the traffic implications of customers or workers coming to your facility to the impact on air quality that your facility could have, there are many ways in which your business could affect other people nearby and their property values.It is your job as an existing or prospective business to ensure that you comply with state and local regulations. Awareness of your environmental impact is critical to honestly discussing the impact of your business with the local community. Especially in areas that have typically had lax environmental enforcement, your business may need to make extra efforts to operate cleanly…
Set up the right kind of business and get registered
Choosing the right entity structure for your business isn’t always as simple as it should be. You want to protect yourself against liability, but you also want to have the tax protections you need. Looking at the different options, you’re not sure which is right for you. You’re not alone in this confusion. Many people find it complicated to choose the right entity structure. To set your business in motion, you will need to register it with the state. Prior to that, you have to come up with the correct business entity. There are legal and tax considerations to think about as well as the personal needs you have…
Finding the right business partner: Qualities that matter
If you don’t want to run your company alone, one of the most important steps in forming your new business is finding the right business partner. The person you choose has a big impact on your life and the success or failure of your company. This is not an area where you afford to make a mistake…
What’s the difference between a material and an immaterial breach of contract?
Once a contract is signed, the parties aren’t free to pick and choose which of the terms they want to uphold. Everything in that contract is a requirement, and the failure to meet its terms is considered a breach. But not all contract breaches are the same. Some breaches are so minor that they’re basically immaterial and not a cause for legal action. Other breaches can be so serious, or material, that they relieve you of your obligations in return or lead to litigation…
Insulate yourself from liability with the right business structure
When you start a business, one thing is true: There is a risk that someone could file a lawsuit against you. It might be a customer who is angry about an order or a third-party contractor who wasn’t happy with a contract. Regardless of who it is, the reality is that you could be the one who faces trouble. The risk of a lawsuit is why it’s so important to choose the right kind of entity structure. The choice you make determines much about your business, from how you pay taxes to who is held liable in the case of a lawsuit. You have multiple choices, so it can be confusing…
Remember: Contracts protect your business
You have to do what you can to protect your business. Contracts are one way that you can do this because these documents set forth a written set of terms that governs all of your interactions. Your contracts need to be as detailed as possible so that both parties know their responsibilities and what happens if they don’t uphold them…
What are the top benefits of forming an LLC?
When starting a new business, you’re staffed with the responsibility of making a variety of important decisions. Before you ever open your doors to the public, it’s critical to choose the appropriate business structure. While you have many options to consider, a limited liability company (LLC) is among the best…
The importance of selecting the right business structure
There are many factors to consider when starting a business. Such factors can include equipment selection, cost estimations and market research. While those are important, the operational structure can be one of the most significant indicators of a business’s long-term success. That’s because they can come with legal, financial and functional implications…
Solid leaders lead the way with sound succession planning
Regardless of whether business owners or CEOs are approaching retirement age or have many years left in their careers, creating a succession plan for their business can never come too soon. Unexpected events can happen at any time, and a succession plan helps a company avoid chaos and confusion that can happen when change occurs suddenly. The critical considerations for any succession plan are: Who will you choose to take over? And how will you best prepare them for their new role? Those questions may sound simple, but they could be the most important ones you can ask for your company…