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Some small business owners reach a point where keeping the doors open no longer makes financial or personal sense. The bills are mounting, income is unpredictable and the business no longer supports itself. If the goal is to shut everything down in an orderly, final...
Franchising can be a great way to grow a business, but it also comes with legal risks. Franchisors and franchisees can face disputes that may harm their operations and finances. What kinds of legal issues arise in franchises? Below are some important points to...
As a franchisee, you have a big responsibility to uphold the standards and reputation of the franchise network. But what happens if you do not meet your responsibilities and your actions or inactions cause harm to the franchise's reputation or result in financial...
One of the more complex processes for your business is undergoing a Chapter 7 bankruptcy. The complexities of Chapter 7 compared to Chapter 11 will often lead to your business closing immediately after filing for bankruptcy. The company and its assets will be sold to...
Business owners are often reluctant to consider filing for bankruptcy. Their business may be their sole source of income and usually represents a considerable investment of their time and money. Some may ignore signs that their businesses are struggling until it's too...
Association – A Not So Perfect Fit Richard R. Thames Thames | Markey Jacksonville, Florida April 24, 2023 The Small Business Reorganization Act of 2019 (the “SBRA”), codified at 11 U.S.C. § 1181-1195, created a new subchapter of reorganizations, known as “subchapter...
One of the biggest concerns a small business owner may have when considering bankruptcy is the potential effects on their personal assets. Particularly as a small business owner, there may be an overlap between your personal and business finances. To take advantage of...
Are you a business owner in the franchise industry? If so, it’s important to understand the concept of franchise encroachment and how it can affect your business. In essence, franchise encroachment occurs when a franchisor deliberately invades a franchisee’s territory...
In a commercial lease agreement, a "force majeure" clause or an exculpatory clause can protect either party in the event of an unpredictable circumstance. Since both clauses are designed to provide protection by limiting liability in commercial real estate...
Filing a business bankruptcy does not automatically erase all of your tax debt. But there are some taxes that can be discharged or at the very least minimized through bankruptcy protection. What are the circumstances for discharging taxes through bankruptcy? In most...