According to the United States Constitution, the government can’t take private property for public use without paying for it. This is called the “Takings Clause,” and is a very confusing part of the law.
Typically, there are two ways small businesses are bought and sold. A “sale of entity” is when the whole business is sold together, while a “sale of the assets” is when the owner sells all the components of the business without including the overall entity or its liabilities.
Transitioning ownership in a business is never easy, but small businesses face more difficulties than others. Farmers especially can face problems when passing along their farms and equipment. A few steps can be taken to streamline the process and make it as painless as possible.
You may have seen late-night infomercials that mention tricks to obtain property with little or no money. Ohio law provides for an upfront method of acquiring real estate without money or any “secret deals” or other tools mentioned in these late-night television offerings.
School is about to start again in just a few short weeks, and many students will be deciding what they’d like their future to look like soon. Some students may consider joining the legal field, but that doesn’t necessarily mean becoming a lawyer. Some positions outside of being an attorney are legal assistants, clerks and paralegals.