Employment Contracts: 11 Critical Provisions for Small Businesses

Despite their limitations, employment contracts are widely used by participants and employees of small business corporations, mainly because they are easily prepared and provide a workable basis for establishing business relationships between the corporation and its officers and employees.  An employment contract, regardless of its duration, should contain provisions dealing with the following matters: (1)   […]


Read More.. Employment Contracts: 11 Critical Provisions for Small Businesses

7 Rules of Conduct for Corporate Directors

Below are seven general rules of conduct for corporate directors: (1)    Attend all board of director meetings if at all possible.  If it is impossible to attend a certain meeting, find out what transpired at the meeting by reading the minutes of the meeting and talking to other directors who were in attendance. (2)    If […]


Read More.. 7 Rules of Conduct for Corporate Directors

Partnership Fiduciary Duties, the Golden Rule, and Two Rules You Don’t Want to Break

Partnership Fiduciary Duties: Duties Owed to Your Partners (all of them…) Partners in partnerships, LLCs, and other business ventures owe each other the utmost duties of loyalty and care.  These duties are called “fiduciary duties.”  In partnerships, which are generally governed by the Revise Uniform Partnership Act (1997), fiduciary duties of care and loyalty are […]


Read More.. Partnership Fiduciary Duties, the Golden Rule, and Two Rules You Don’t Want to Break