If you form a business with another person, you should create a written partnership agreement. This is generally a good idea whether the company is based in Texas or any other state. The agreement should state how profits are shared and the roles that each person will...
Month: September 2020
Four tips for resolving business partnership disputes
Business partners working together in Texas might experience the occasional dispute. A partnership dispute could threaten to divide the business and call the entire relationship into question. However, there are steps that business partners can take to prevent or...
Tips for choosing a business partner
The right business partner could help your Texas company grow and thrive for many years or decades to come. However, choosing the wrong person may doom your business to failure regardless of how good its products or services are. Let's look at two of the...
What should employers should know about noncompete agreements?
Many employers in Texas and beyond might ask their potential employees to sign a noncompete agreement. A noncompete agreement might request that employees don't take jobs with competitors in the future, and have other similar requirements. The agreement usually...
Predatory lenders are not worth the risk
Owning a small business could lead to financial independence if the enterprise proves successful. Unfortunately, many small businesses in Texas may find themselves suffering from decreased revenues. As a result, these small businesses could become targets of predatory...
Four steps to starting a business
Entrepreneurs in Dallas may be interested in learning the basics of starting a business. If you follow certain established steps, the process will be easier. Beginning a business involves planning as well as making important financial decisions. Research and plan...
What are the elements of a breach of contract?
Contracts can be implied or documented Many businesses in Texas operate on contracts. These can be both implied or documented, but most implied contracts are very general in nature. Contracts that are designed with specific wording spell out the responsibilities of...
How can you avoid or resolve disputes with business partners?
There may be many benefits to collaborating with other people when creating a business in Texas. However, regardless of how well you get along with a business partner, there is a chance that conflicts may arise. Fortunately, there are steps that you can take to either...
Two tips for determining the value of a business
What percentage should I give an investor who wants to fund my company? How is my business going to be divided in a divorce? How much will my bank lend me for my business? How much should I sell my business for? Whether you are looking for the answer to one of the...
How do you mitigate the risk of insolvency?
In the course of doing business, many businesses do business with another company that will suddenly announce it is filing for bankruptcy. This can happen if, for example, your business delivers raw materials to a customer ahead of payment. If that business then...
