Is it Time to Start a New Business?
Starting a new business is always exciting and often times nerve racking. Most entrepreneurs ask themselves the question, is this the time to start a new business? Many experienced business owners and consultants agree that starting a business in a weak or emerging economy can be a benefit for numerous reasons. Thus, now might be a great time to start …
Recent Article Regarding Backlash Against Excessive Legal Fees
There was a recent article in the Wall Street Journal entitled “Backlash Building Against Legal Fees” by Jennifer Smith (10/22/12) which cited that a number of companies, especially larger companies, were scrutinizing legal bills much closer. What a great idea for these companies to check their bills much closer and demand a reasonable approach. The article cited that many companies …
How Receiverships Work in North Carolina
How Receiverships Work in North Carolina By James R. VannAttorney at Law Most business people and business owners have experienced issues associated with bankruptcy court. For many businesses which extend credit to their customers, they may find themselves involved as a creditor to a customer in bankruptcy. Certainly, learning the ins and outs of bankruptcy court as a creditor can …
Employers Dealing With Social Media and Mobile Devices at Work
There is no doubt companies are facing real questions regarding how to handle the usage of social media in the workplace and usage of mobile devices at work by their employees. Social Media in the Workplace Many businesses and business owners are dealing with multiple questions regarding the use of social media at work. Should they allow it, if so …
Corporate Board of Directors | Authority and Function sof the Board of Directors in Light of Duke Energy
Serving on a corporation’s Board of Directors can be rewarding to both the company and the individual serving. It often provides an opportunity for the individual Director to provide wisdom, knowledge and valuable experience to the company in which it serves. Serving on a corporation’s Board also brings responsibilities and duties. Authority of a Board of Director In North Carolina, …
“Welcome to Moe’s” Racketeering Claims Alleged Against Moe’s (What Lesson Can We Learn?)
In a lawsuit currently pending in the United States District Court for the Northern District of Georgia, a Federal District Court Judge ruled in April of 2012 that franchisees may use racketeering claims against Moe’s Southwest Grill. The lawsuit was filed by franchisees who alleged that the franchisor had been taking money from the franchisees through a deceptive kickback scheme …
What Fees Can You Recover for a Returned Check?
What Fees Can You Recover for a Returned Check? By James R. VannAttorney at Law If you accept a check from your customer that is later returned for insufficient funds, North Carolina law provides a variety of fees and charges which you may recover. The North Carolina General Statutes provides that a creditor who receives a check which is …
Buying or Selling a Closely Held Business – A Few Steps to Consider
Agreeing to a sales price is hardly the final step in the negotiation process in the sale of a business. Even once the discussions have led a preliminary agreement to transfer ownership of a business at a particular price, the parties to the transaction still might not be on the same page as to what exactly entails “the business” that …
Learning From Others To Benefit Your Business
In a recent article entitled “When Mark Met Don” from the Wall Street Journal, the author discusses the benefits of a friendship between Washington Post’s Don Graham and Mark Zuckerberg of Facebook. This article brought to mind how many of our business clients (and ourselves) learn from others. Often times, our business clients derive valuable knowledge and wisdom from others …
Serving on Board of Directors for Non-Profit Organizations: Beneficial and Cautious
In previous years, serving as a board member for non-profit and/or charitable organizations was perceived as prestigious and a great way to give back to the community. Sure, you were expected to attend a few galas and a board meeting every now and then, but it was all doable, feasible, and most of all – monetarily sensible. Now however, in …
Independent Contractors/Employees Latest News from the Internal Revenue Service
As a business owner, how do you classify the people who work for you? Are they independent contractors or employees? The classification is important and can be scrutinized by the Internal Revenue Service (IRS) and others. The distinction between an employee and an independent contractor is important for several reasons. The following are a few areas of importance: Impacts tax …
Right of First Refusal; What Does It Mean?
Right of First Refusal; What Does It Mean? By James R. VannAttorney at Law Often times, business owners want to include a provision for a right of first refusal to buy or sale a portion of a business interest or asset. There can be many variables of provisions for the right of first refusal to consider. In the recent North …
Electronic Information-Hacking for Business (Make it a Dream and Not a Nightmare)
Our lives have been irrevocably changed by technology. We use technology every day and rely upon the usefulness of it. The technology which businesses utilize is normally designed to make work easier, more effective and efficient. As technology advances, so do the minds of those who want to use technology dishonestly or for the wrong purpose. An article in the …
Location May Make A Difference
We have all heard the phrase “location, location, location”. Well, according to a July 18, 2011 article in the Wall Street Journal the location of your pending lawsuit could make a difference in the outcome of consumer debt collections. http://online.wsj.com/article/SB10001424052702303365804576433763597389214.html Consumer debt is different from commercial debt but many of the same type issues arise. Most of our cases are …
Preferential Transfers in Bankruptcy: How to Minimize the Preference Risk
Preferential Transfers in Bankruptcy: How to Minimize the Preference Risk By James R. VannAttorney at Law For suppliers of goods and services, nothing may be more unsettling than discovering that a customer has filed for bankruptcy. To add insult to injury, there is a risk that any recently received payment or settlement might be recaptured by the bankruptcy trustee as …