During the hot summer months, electric companies request that we cut down on the usage of electricity in our homes and businesses. This request may seem odd, but utility companies such as electric, water and sewage companies are heavily regulated. The laws and regulations on utility companies help ensure that electric service and other utility service is always available without the concern for rolling blackouts and brownouts.
Sometimes we can find ourselves co-owning property with one or more co-owners wanting to be bought out. Even if we are in the process of converting ownership of the co-owned property into assets owned by an LLC, it becomes important to value the property and each person’s portion.
Different business structures exist to help facilitate success among participating individuals while protecting from risk.
While it may seem logical to get more insurance rather than establishing an LLC, it’s clearly improper once someone understands the true purpose of a limited liability company. Most businesses should have both good liability insurance as well as a complementary business structure to go with the insurance. It’s best to think of an LLC as being insurance beyond traditional insurance. LLCs offer protection in the worst situations when traditional insurance would cover only part or none of the damage.
More often than not, jobs today require specific training that require a large investment from an employer when hiring a new employee. Further, the value of many businesses is in the relationships and reputation of the business. Many businesses that invest heavily in relationship-building or training want to protect their investment, and primarily these investments are protected with non-compete agreements.
A new law will go into affect in a few months that will necessitate that most farmers monitor the weather before spreading manure. While several applications and farming operations are exempt from the ruling, farmers in northwest and west central Ohio will be under more specific requirements when it comes to spreading manure.
The term scalping refers to the original practice of selling counterfeit tickets. Now, scalping just means selling any tickets individually instead of through a service. While some states allow scalping, many have rules and restrictions dictating what can be done with tickets.
If you’re a small business owner, there are a few things you should add to your checklist before the year is over: Ask your accountant what needs to be done for tax purposes, review your insurance policy for the coming year and make sure it’s still appropriate, and make sure your employees are taken care of during the holiday season.
Unjust enrichment is a legal method that may be used to force someone to pay for a benefit they have received from another person or business. Three things must be present for unjust enrichment to occur: the person must have actually benefitted from the goods, the person must know they have benefitted and the item they’ve received must be something that is unfair for them to keep.
When starting a new business, many people want to jump into the marketing phase and get the word out before their business is actually ready for that. Ensuring that your insurance, accounting, banking and legal set-up is in order is important before spreading the word, in case your business doesn’t progress as intended.