If you are starting a business or making changes to an existing business, you will need to determine what type of business you want it to be. This doesn’t mean figuring out what you will do, what your mission statement will be or how you will compete in the marketplace. It means that you will have to establish your business structure. As noted on the Internal Revenue Service website, there are five types of business structures: sole proprietorship, partnership, corporation, S corporation and limited liability company. In this post we will look at the very basic distinctions between these structures. …
Tips on Conducting Collective Bargaining Negotiations
This is a difficult time for unions throughout United States. The percentage of private sector employees covered by unions is at a historic low. Even in the public sector, unions are under stress due to straitened economic circumstances facing public sector employers and legal challenges to the union’s right to collect fair share dues. In spite of this however, a company or public entity which has a collective bargaining agreement and is faced with upcoming negotiations needs to carefully plan if it wants to maximize its chances of improving its position during negotiations. Based on my experience over the last …
Report: Thirst for legal action in the beverage industry
In recent years, the beverage industry has seen an explosion of new businesses, particularly in terms of breweries. Ohio is home to many of these breweries, whether they have been around for years or have only recently opened their doors. While consumers and brewery enthusiasts generally welcome the growth in this industry, it is evidently taking a toll on individual companies in terms of legal protections. According to a recent article on FoodDive.com titled, “Why beverage industry lawsuits are increasing,” the number of lawsuits filed in the beverage industry has been growing and will likely continue to do so in …
Avoiding common pitfalls during a merger
Merging with or acquiring another company can be a huge step for the future of any business. These decisions and negotiations are not made lightly and the stakes can be quite high. In the best scenarios, both companies benefit from these transactions and the emerging business is successful. However, there are numerous obstacles that can put these deals and the companies involved in jeopardy. Some of the biggest obstacles facing companies during and after a merger or an acquisition relate to the difficulty of establishing or maintaining effective business practices in the wake of big changes. For instance, many people …
So You Repaired, Stored, or Towed a Car and The Owner Won’t Come Pick It Up… Now What?
Abandoned vehicles are an all too common problem for owners of repair garages, towing services, and storage facilities. Fortunately, Ohio law allows these businesses to claim title to abandoned vehicles and if done properly, without the excessive cost of litigation to secure Court ordered title. This process and correlating requirements are governed by Ohio Revised Code § 4505.101 which applies to vehicles worth less than $3500 and left unclaimed for a certain number of days (depending on your type of business, this number ranges from five to fifteen) following the completion of a requested repair or agreed upon term of …