In 1789, Benjamin Franklin famously wrote in a letter to his friend that “in this world nothing can be said to be certain, expect death and taxes.” This adage is profound, but I would politely disagree with Mr. Franklin. I believe there is a third certainty: You will leave your business one day. Now, you […]
Is Your Buy-Sell Agreement Fatally Flawed? Read More »
In 2014, a group of delivery drivers in Maine sued their employer, Oakhurst Dairy, claiming that they were owed four year’s worth of overtime pay. A federal court in Maine initially ruled against them, but the drivers appealed that ruling to the First Circuit US Court of Appeals. With $10,000,000 on the line, the ruling
Could A Single Comma Cost This Business $10,000,000? Read More »
A business’ value is a function of many hard and soft factors. Of course, revenue and cash flow are vital to determining value, but the likelihood that the cash flow will continue in the future—or rather the risk that it will stop—is another vital component of business value. Business owners often overlook the role that
Protecting Business Value with Employment Agreements Read More »
Customers are the sine qua non of business. They are the difference between a booming Blockbuster Video store in the 90s and that strange building your kids ask you about sometimes. Customers bring revenue and, hopefully, profit. However, even though it may sound paradoxical, businesses outside of the mass-retail or related industries, don’t want every
Customer Agreements as Tools to Increase and Protect Business Value Read More »
If you were a kid in the 70’s, you’ll remember a TV show called The Six Million Dollar Man. It was about a man who was rebuilt with bionic implants that let him achieve incredible feats and protect the United States from the Commies. Plus, there was also a really cool sound effect when he
The $20,000,000 Non-Compete Read More »
When seeking investment for their startups, founders often face a difficult question: Should they require prospective investors to sign a non-disclosure agreement (NDA) before receiving the pitch? Understanding the custom of investors concerning NDAs and knowing how to deal with that custom (and protect the startup) is essential for the startup founder seeking investment. A
