Running a business alone can be challenging. Bringing someone on board can help ease your workload. It can also broaden your connections and take your business to greater heights. This is where business partnership comes in. There are generally two types of...
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Business Law
Partnership vs. LLC: Which one should you choose?
On Behalf of The McMillan Law Firm, APC | Jan 12, 2023 | Business Law
There are many factors to consider when choosing the right business structure for your company. Partnerships and limited liability companies (LLCs) are two of the most common business structures. So, how do you know which one is right for your business? Understanding...
2 things you should know about sole proprietorships
On Behalf of The McMillan Law Firm, APC | Jan 3, 2023 | Business Law
Deciding to open a business is a major decision that takes a lot of planning. One factor that you need to consider is the type of business structure you want to use. A single business owner may decide to run the company as a sole proprietorship. The issue with this...
4 signs that a business partnership is healthy
On Behalf of The McMillan Law Firm, APC | Dec 15, 2022 | Business Law
Oftentimes, the success of a business comes down to who your partner is and if they have the skills for the job. It can be tough to evaluate an existing business partnership from a distance, especially if your partner is a relative or your friend – but it’s essential...
What to consider when searching for a business partner
On Behalf of The McMillan Law Firm, APC | Dec 5, 2022 | Business Law
As a business owner, you have many factors to consider. At some point, it may be appealing to have someone to help with these decisions. This is when you may begin searching for a business partner. There are important factors to consider before choosing someone for...
Reasons it may be time to change your business structure
On Behalf of The McMillan Law Firm, APC | Nov 3, 2022 | Business Law
When you open a business, you are required to create a business structure. However, you may not realize that this isn’t something you can’t change. In fact, there are a few reasons you may want to change your business structure at some point. Some of the reasons it...
Why your company needs a business continuity plan
On Behalf of The McMillan Law Firm, APC | Oct 2, 2022 | Business Law
In a time of crisis, your company needs to be able to rely on its business continuity plan (BCP). Whether it's a hurricane that knocks out power for weeks or a data breach that threatens your customer information, having a well-thought-out BCP in place can be the...
Options for funding a new business
On Behalf of The McMillan Law Firm, APC | Sep 17, 2022 | Business Law
Starting a new business requires some level of funding, which is often something that holds potential entrepreneurs back. It’s wise to investigate your options in advance so that you can figure out what will work best for you. You may also want to consider your...
Choosing a business structure: Benefits of a C Corp
On Behalf of The McMillan Law Firm, APC | Sep 6, 2022 | Business Law
As a business owner, you must consider what’s best for you and your business. Sometimes, creating a financial and legal separation between you and your business is the best option. If you are considering this, creating a C Corp may be right for you. Before moving...
Potential issues that can ruin a partnership
On Behalf of The McMillan Law Firm, APC | Aug 31, 2022 | Business Law
You and your best friend have always talked about going into business together. Now, you’re both ready to turn the dream into reality. You’ve decided to form a partnership, and the two of you plan to share equally in the responsibilities of running your business. A...