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What Are the 30 Most Common Corporate Legal Pitfalls?
1. Poor Business Formation Failure to incorporate or selection of the wrong business structure (LLC, C Corp, S Corp, etc.). 2. Failure to Observe Corporate Formalities Failure to hold required meetings (board or shareholder meetings). Failure to maintain minutes and resolutions. 3. Poor Record Keeping Poor documentation of financial transactions, contracts, or agreements. Failure to…
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25 Steps to Incorporate Your Business: A Corporate Law Guide
Planning and Preparation Decide on the Business Structure Choose between a corporation (C Corp, S Corp) or limited liability company (LLC), depending on your goals and tax preferences. Choose a Business Name Ensure the name is unique and complies with state or national naming regulations. Check trademark availability to avoid intellectual property issues. Conduct a…
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20 Key Compliance Issues Every Business Owner Should Know in Corporate Law
1. Business Registration and Licensing Register your business entity correctly: LLC, corporation, partnership, etc. Get the permits and licenses required for your industry and location. 2. Corporate Governance Comply with corporate governance standards: board meetings, resolutions, corporate bylaws, or operating agreements. Also read: 3. Employment Laws Adhere to labor laws, minimum wage, overtime, workplace safety,…
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40 Questions to Ask Your Lawyer Before Signing a Corporate Contract
Understanding the Basics of the Contract What is the nature of this contract? Is it common for the industry? Who are the parties to this contract, and have their legal entities been clearly defined? What is the intent of this contract? Are the terms of this contract clear and not ambiguous? Is this contract enforceable…
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The Role of Corporate Law in Modern Business Operations
In today’s fast-paced business environment, understanding and navigating the complexities of corporate law is crucial for any business. Corporate law governs the formation, operation, and dissolution of corporations and is integral to ensuring that businesses function smoothly, ethically, and legally. This article explores the significant role of corporate law in modern business operations and highlights…
