I want to show some love to the S-corp, the ugly older child of the LLC. What is an S-Corporation? An S-Corporation is a C-corporation that has been converted to pass through tax treatment. You get that pass through tax treatment by filing an S-election on IRS Form…

Here are the top ten things I love about the LLC.

A Confidentiality Agreement (a/k/a “NDA”) is a promise to keep someone’s information secret. Like all contracts, there is no one way to create them. But, there are 7 things that you have to define: (1) Discloser; (2) Recipient; (3) Confidential Information; (4) Duration; (5) OK Use; (6) Recipient Obligations;…

Last week, I talked about the revolution to figure out new ways to collect, store, categorize, retrieve and present information.  Today, I continue the discussion with how I applied this to business law. As a business lawyer working with companies in different industries, I was always looking for the one…

With greater frequency, talented and smart lawyers are blogging. Here is some sensible advice from trademark lawyer David Lizerbram. David’s advice: just go – now- and get all similar domain names to your current one so that others can’t do it instead. Here is the post: Domains Best Practice

Forms. The holy grail of cheap legal fees is standardized forms. VCs have their own contract forms for investments in C-Corporations and they want to keep it that way. It is more efficient for them to use their own forms: their lawyers can get through them and the VCs…

  Folks, two weeks ago, we wrote about how Minnesota’s state government shutdown would keep businesses from getting financing, registrations and licenses. We even had a chart. But, we never imagined that it would also stop the flow of beer from the keg. Seems that without government services, bars…

One of my favorite lawyers – a dashing Italian fellow who could teach all three Heathers a thing about accessorizing – said I got something wrong in my book, Birth to Buyout: Law for the life Cycle of Your Business.  Kindly and almost embarrassed, he pointed out how I…

I just joined Windows Live to try its blogging software. During sign up, I was so impressed by the contract acceptance page, I thought I’d share it. But, first – a law note. Law Note: Online contracts are enforceable as long as they have the three contract elements: offer,…

Everyone always wants to know: which entity should I pick? Let’s try and answer that once and for all. Here, we’ll talk about the types of entities. Down the road, we’ll talk about how to think about them. First, you should know that all business entities are creatures of…