A holding company, as the name implies, is usually an entity formed exclusively for the purpose of “holding”, i.e. owning something.  Holding companies typically do not conduct business in the same way an operating company does. The specific purpose of a holding company depends on how it is used and what potential problems a holding company is intended to solve.  In this article I will discuss two popular types of Read More

When I started practicing law 17 years ago, the terms “crowdsourcing” and “crowdfunding” did not exist.  Both were coined around the same time and are often confused with each other. I have experience with both, so I thought it might be helpful for me to provide some guidance on the proper use of each term. Crowdsourcing The creation of the term “crowdsourcing” is commonly attributed to the editors of Wired magazine Read More

Our law firm files lots of trademark applications, so we frequently receive questions from confused clients about official-looking notices and invoices they receive in the mail.  Trademark applications are available for viewing in a public database, and therefore it is easy for third parties to obtain lots of information about trademark applicants.  Information that is readily available includes the Read More

March and April are months in which individuals and companies are often thinking about preparing and filing tax returns. If you own or work for a company, these months are also typically when you must file an annual report. Annual reports are not tax returns. Sometimes this is a point of confusion for new companies because they assume filing a federal and/or state tax return satisfies their annual filing Read More

This is part three of a three-part series on what does and doesn’t belong in a written LLC operating agreement. Part one can be found here and part two can be found here. In parts one and two we discussed ten issues that should be addressed in your LLC operating agreement.  Here are some that do not belong. Terms that usually don’t belong: Employment provisions. If an LLC member or manager is also going to be an Read More

This is part two of a three-part series on what does and doesn’t belong in a written LLC operating agreement. Part one can be found here. In part one of this series, I raised five questions that should be addressed in your LLC operating agreement. Here are five more. More terms that usually belong: Will there be meetings? One of the nice things about LLCs is that they are flexible, meaning that LLC members have a Read More

This is part one of a three-part series on what does and doesn’t belong in a written LLC operating agreement. Most people know that when individuals decide to conduct business through a limited liability company (LLC), they should have a written operating agreement. (If you are an LLC owner and didn’t know that, now you know!) A lot of confusion remains, however, about what sorts of terms the operating agreement Read More

There is a group of words that have nearly vanished from the English language, yet continue to exist in legal contracts. There are a few reasons for this.   First, lawyers generally are slow to change.  They tend to do things the way they were taught and rarely innovate - especially when it comes to drafting contracts.  Re-using old language is an easier and safer and less risky approach to building a legal Read More

If your business needs an infusion of capital, one option worth exploring is a commercial loan.  A commercial loan is a loan that comes from a financial institution - usually a bank. I have found that clients often don’t know what to expect from the commercial loan process. If your business is considering borrowing money from a bank, the information below will help prepare you for the journey you’re about to Read More

One question I am asked frequently by clients is how to attract investors. I typically respond by saying that every situation is different and each business faces its own unique challenges. On the other hand, I have observed over the years that there are certain traits that are common among successful entrepreneurs. If you want to be the best entrepreneur you can be and give yourself the best opportunity to attract Read More