Using a No Shop Clause in a Letter of Intent

If you are buying a business, the process becomes expensive and tedious once the letter of intent is signed. For this reason, I recommend all buyers include a “No Shop” provision in their LOI. This provision prevents the seller from going... 

Why Bylaws are Important for Your New Company

The Secretary of State fails new businesses by not requiring you to record your company bylaws. It signals to the entrepreneur that articles of incorporation are more important than company bylaws, leaving bylaw drafting a mere afterthought. Every business... 

Start a Legal Fund Instead of Purchasing Pre-Paid Legal

If you’ve started a business recently you’ve probably heard about Pre-Paid Legal. Basically, you are provided “access” to an attorney for a monthly fee. Think of it as legal insurance. This may be beneficial to some small-business...