So, you’re buying a business? Congratulations! That’s a huge undertaking that will give you an incredible amount of excitement. By this point, you probably already know what you want to be doing. You may even have a company you’re going to buy. If not, this article about acquisitions will still help, but just won’t be…

In the realm of non-compete agreements, the standard for the sale of business non-compete agreements are the most lenient. These restrictive covenants that coincide with a company sale agreement or asset purchase agreement are considered to be the ones that require the least protection, and as such, the courts treat them that way.   What…

Earlier, we talked about stock options. Now, we’re going to delve deeper into Nonstatutory (Nonqualified) and Statutory Stock Options. The differences between the two are fairly clear, and generally the statutory stock options are preferred for beneficial tax treatment, if the options qualify.   Statutory Stock Options Unless they qualify as statutory stock options, also…

If you’re applying for a tax exempt recognition through the Internal Revenue Service (IRS) such as a 501(c)(3) or similar type of recognition, you will be required to include a conflict of interest policy in your governing documents. Fortunately, the IRS has provided significant guidance on what needs to be included, as well as providing a…

Recently, Law Plus Plus became the first law firm in North Carolina to become a Certified B Corporation. The first question almost everyone asks is “What is a B Corporation?”   B Corporation B Labs defines B Corporations as “for-profit companies certified by the nonprofit B Lab to meet rigorous standards of social and environmental…

This Tax Affects… If you’re a small business owner in North Carolina, you’re probably aware that new laws expanding the State sales tax took effect in March of 2016. Here’s a breakdown of some of the types of businesses that are affected by this expansion: · Vehicle Repair · Shoe Repair · Watch, Clock, and…

A law firm telling me the questions I should ask my business lawyer before hiring them? I bet these will (1) be really softball questions, and (2) be ones that Law Plus Plus is prepared to answer. Yes! They should be both, but that’s kind of the point. If your potential business attorney cannot answer…

So, you received your approved Articles of Organization or Incorporation from the Secretary of State? First off, congratulations. That’s a huge, tangible, first step to becoming a well protected company. The next few steps are also very important, but you can take care of them pretty quickly immediately afterwards.   EIN The first step after…

Restrictive Covenants not to compete, or non-compete contracts, are a tool used to protect a company from unfair competition. They are commonly used in the employment context to prevent this competition, but when analyzing them, you must ensure that they are no wider in scope than is necessary to protect a legitimate business interest. Just like…

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