In the world of trade, clarity and precision in transaction terms are not just beneficial; they're a necessity. This is where International Commercial Terms, or Incoterms, come into play. Developed by the International Chamber of Commerce (ICC), Incoterms are standardized codes used...
In this Blog post, we discuss the importance of a succession plan for the resilience of your business. Having a succession plan in place allows a business to be better prepared for unexpected departures or changes in management. It ensures business continuity by preparing for the inevitable changes in leadership, helps minimize disruptions, maintains organizational stability and confidence among stakeholders, and can have favorable tax consequences.
The Corporate Transparency Act is officially here. Its new, its widely applicable to small and mid-sized businesses, and non-compliance can have significant repercussions. As a result, it's important for companies to develop an internal CTA compliance program. In this Blog post, we discuss the 10 steps to create a robust CTA compliance program.
In this Blog post, we discuss the new federal corporate reporting law, known as the Corporate Transparency Act (or CTA), which went into effect on January 1, 2024. The CTA, which includes steep penalties for noncompliance, will impact over 30 million businesses. Under this new law, Beneficial Ownership Information (or BOI) must be reported to FinCen, a bureau of the US Department of Treasury.
Navigating business law without a lawyer isn’t just challenging; it’s a risky gamble. Why roll the dice when you can have the assurance of strategic legal guidance? In this Blog post, we discuss that when money, compliance, risk, and contracts are at stake, it may be time to hire an experienced business attorney.
Do you have an idea for a new business? Working with a business lawyer will help to ensure that you're structuring your new business in the most advantageous way. In this Blog post, we discuss several ways in which a business lawyer can help establish a new business. Contact us at www.jsettleslaw.com today for a free initial consultation.
Cyber Scams In today's interconnected world, cyber scams have become increasingly prevalent and sophisticated, targeting individuals and businesses alike. The ability to recognize and avoid potential cyber scams is crucial in safeguarding personal and financial information.
An important and often overlooked aspect of M&A deals and other commercial contracts is whether the parties should execute their contract prior to the closing or simultaneous with the closing. In this Blog post, we discuss some of the attributes and considerations for each approach.
In this Blog post, we discuss our part-time (or "Fractional") General Counsel service. In today's world, legal support is not just a necessity, but a strategic asset. However, not every business requires, or can afford, a full time in-house General Counsel. Recognizing this gap, the Law Office of Jennifer M. Settles is proud to announce a solution tailored to the unique needs of small, medium, and growth-oriented businesses: the Fractional General Counsel service.
In this Blog post, we discuss Terms & Conditions – those pesky, tiny-font forms that buyers often sign or click through when purchasing goods or services. We discuss that once signed or clicked-through, T&Cs constitute a binding contract and therefore must be carefully read, understood and negotiated by the buyer where applicable.
Emotional intelligence (or "EQ") is critical for success in modern business. In this 3-part blog series, we discuss the attributes of EQ and why its so critical for success in business, tips for assessing EQ in your interview process, and ways to foster greater EQ among yourself and your staff. In this post, we offer 7 tips for training and improving one's EQ.
Emotional intelligence (or "EQ") is critical for success in modern business. In this 3-part blog series, we discuss the attributes of EQ and why its so critical for success in business, tips for assessing EQ in your interview process, and ways to foster greater EQ among yourself and your staff. In this post, we offer 5 tips for assessing a candidate's EQ during interviews.
Emotional intelligence (or "EQ") is critical for success in modern business. In this 3-part blog series, we discuss the attributes of EQ and why its so critical for success in business, tips for assessing EQ in the interview process, and ways to foster greater EQ among yourself and your staff.
All businesses need capital. In this Blog post, we summarize some of the different financing options available to a small and medium-sized businesses.
Commercial real estate leases are complex. In this Blog post, we dissect and explain some of the pertinent and negotiable terms of a lease, from both the landlord's and the tenant's perspectives.
Like all humans, corporate officers and directors are not always perfect. In this blog post, we discuss the legal theory known as "the business judgment rule", and its application and relevance to officer and director liability and to good corporate governance.
Are you considering buying a business? As a prospective purchaser, it's wise to ask a lot of questions of the seller early in the discussion process. By asking the right questions, a prospective purchaser can gain information about whether the transaction could be a good fit.
We’re excited to introduce you to the always interesting and insightful Jennifer Settles. We hope you’ll enjoy our conversation with Jennifer below.
In this blog post, we describe what corporate governance means and why its important. We list 5 reasons why good governance means good business, and 5 tips for implementation. We also discuss the concepts of ESG and DEI and their role in entity governance.
Performing a robust due diligence process is critical in M&A, real estate deals and many other forms of commercial contracts. In this blog post, we discuss seven important considerations for successful due diligence, from the perspective of both buyers and sellers.
Business brokers add tremendous value to M&A transactions. However, their services do not come cheap. Use these tips and strategies before executing a business brokerage contract to ensure that your brokerage agreement is fair and reasonable.
Limited liability companies are a favorable entity choice in many cases. In this Blog post, we discuss several of the advantages and attributes of a limited liability company.
What Are Fiduciary Duties? In the context of corporate leadership, fiduciary duties include the duty of loyalty and the duty of care. In this blog post, we break down the fiduciary duties of officers and directors, and discuss their elements and importance to sound corporate governance.
Accounts receivable factoring, sometimes called invoice factoring or merchant funding, has advantages and disadvantages. For small businesses with low credit scores or feeling the squeeze from recent turmoil in the banking industry, factoring might be a financing option of last resort. However, business owners must fully understand and negotiate the financial aspects and legal terms and conditions before proceeding.
Contingencies are important mechanisms often used in commercial contracts. A carefully written contingency provisions allows a party to terminate an agreement (or exercise other stated rights) in the event specified events transpire or fail to transpire, as the case may be. In this blog post, we explain contingencies and discuss their use in contracts, from the perspectives of the different parties to a transaction.
