What is a C Corporation? A C corporation is a business that is a distinctly separate business and tax identity from its owners. Because it is not an S corporation, sometimes a C corporation is referred to as an ordinary corporation. The owners are shareholders rather than partners or proprietors. While a C corporation takes more time and effort to organize than other business entities, the key benefit of a C corp is that the business owners and their assets are protected from liability for business debts and judgments. → Read More
Your Personal Liability in a Partnership Your personal liability in a business partnership, as well as your partnership liability, can vary. Partnership liability can depend on the type of partnership you enter into, as well as your position in the partnership. These include Limited Partnerships (LP), Limited Liability Partnerships (LLP), and general partnerships. Each one of these partnerships can provide business owners with a different level of liability protection. → Read More
Do Franchise Laws Vary by State? While every franchise business is subject to the Federal Trade Commission (FTC) Franchise rule, franchises are also subject to state franchise laws and regulations as well. While the FTC rule is aimed at all types of franchises, many state regulations are industry specific. Further, franchise law is not a completely separate body of law, since it also involves other state laws such as trademark, intellectual property, and commercial laws. → Read More
What Happens to a Franchisee if the Franchise Business Fails or Changes Ownership? When one franchise business merges with another, the franchisee’s business rights are almost always affected. It doesn’t seem fair that a franchise owner who may have once been a competitor, perhaps running another franchise business in the same area as yours, will now be sharing a brand name with you. → Read More
Can a Buyer of a Franchise Select the Business Location? The amount of input a buyer may be able to give when determining the location of their franchise will also depend on the experience of the franchisor. Because the franchisor knows its brand the best, a franchisee should be open to receiving the franchisors input when determining where to open her franchise. → Read More
When You Can’t Make Payments On Your Small Business Loan Although your situation may seem fairly fluid, the fact of the matter is that if you fail to pay a small business loan, even if your failure to pay was due to your small business failure, there is a possibility that you could be sued by the bank that gave you the loan. Small business loan defaults are not uncommon, and banks are relatively willing to try to recoup their losses due to a small business failure by filing suit. → Read More
Buying or Selling a Business: Intangible Assets Determining the value of a business’ intangible assets can be a challenge. Following is a brief discussion of some types of intangible assets and factors affecting their value. → Read More
Kia and Hyundai Agree to Record Settlement with EPA in Fuel Economy Lawsuit Korean automakers Kia Motors and Hyundai Motor Co have agreed to a financial settlement with the United States government in the amount of $350 million for overstating economy ratings in vehicles. → Read More
Termination and Nonrenewal of Your Franchise Agreement Can the franchise agreement be terminated or not renewed? → Read More
7UP Sued for False Advertising on Soda Label The manufacturer of 7UP has been sued for false advertising on its new line of Cherry Antioxidant sodas. The lawsuit alleges 7UP has mislead consumers into believing that the product contains antioxidants from cherries, and has nutritional value. → Read More
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