Running a successful business requires more than just ambition and a great idea. Entrepreneurs and executives need to have a solid plan for operating the business. They need to prioritize specific issues to protect their company from liability and ensure smooth company operations. The five tips outlined below can help
Business owners often need to resolve disagreements with one another each other. Oftentimes, the early stages of the negotiation process are largely positive. Both parties are eager to have contracts on the record and may fail to clarify their expectations. Later, that lack of clarity could potentially lead to conflict.
Businesses collaborate or cooperate with one another for countless reasons. Perhaps they both operate in the same industry and collaborate on major projects. Maybe one company provides goods and services for the other. Working with another company can give an organization access to valuable talent or intellectual property, like patented
An economic recession can impact individuals and businesses alike. People may start reducing their spending, and that can worsen the impacts already experienced by previously profitable organizations. Sometimes, businesses have to make difficult decisions. They may need to close some of their locations or lay off some of their employees.
The decision to hire a new employee is often an indication of a company’s success. When small businesses are in a position to afford another worker, this can be a sign of growth. Unfortunately, some business owners and executives will let their excitement about a company’s economic traction overshadow the
The employees who make the most money for your business can also potentially do the most damage to it. Someone on your sales team might have access to a comprehensive list of all of your current clients. Those working in executive positions or in research and development may know quite
Whether you decided to file for divorce or got served when your spouse filed, it is natural to feel protective about your biggest assets when you consider the end of your marriage. As a Pennsylvania professional who has run a business with your family, the company that you own and
There may come a time when you’re interested in closing your business. Maybe you’re moving on to a new venture, maybe you took a job with another company or perhaps you’re just shutting it down because you want to retire. Regardless of the reason, it’s very important to do this
Your employees should help you build your business, not undermine or destroy it. When you add to your staff, you want to improve your company, not damage it. Unfortunately, workers can potentially cause a lot of damage to your company. A new hire could provide you with subpar work that
When you run a business, something you should get familiar with is using contracts. Contracts come in many forms, so it’s smart to learn about the different styles and how they may help your company protect itself against liability and against changes that impact your business. There are several kinds
Working with vendors can be helpful for your business. However, there could be a few different legal issues you run into. Whether it is a vendor that does not deliver on time or one that challenges a contract after it has been signed, it is important to know what to
If you own a business in Pennsylvania, you could lose some or all of your ownership interest in that company if your marriage comes to an end. However, there is also a chance that your organization will be seen as separate property or otherwise excluded from being divided in a
