Legal Business Solution Blog

Part 2: Business Brokers—Yes or No?

July 23, 2024

When hiring a broker to sell your business, ensure the broker contract is thoroughly reviewed and negotiated to avoid unexpected high commissions and ensure clarity on services, exclusivity, fees, introducing your own buyer, the "tail" on commissions, and termination terms.

Part 1: Business Brokers—Yes or No?

July 11, 2024

To successfully sell your business, carefully select a professional broker with relevant experience, effective marketing strategies, and good communication, as this will save you financial and emotional stress; this blog offers essential tips on finding the right broker.

DOL Final Rule Raising Salary Thresholds for Exempt Employees Goes into Effect July 1st: Are You Ready?

June 19, 2024

The Department of Labor's final rule, effective July 1, 2024, will significantly raise salary thresholds for exempt employees, impacting over 3 million workers, with legal challenges pending that could delay its implementation.

Business Optimization with Schooley Mitchell: Keep Your House in Order

April 24, 2024

The blog post discusses the significant role of cost reduction consulting in preparing businesses for sale by optimizing expenses to enhance profit margins and sales value, highlighting the author's experiences and the benefits of such services.

Negotiating Contracts: When to Compromise and When to Stand Your Ground

April 10, 2024

This blog post provides guidance on contract negotiation, outlining essential elements to insist upon, such as intellectual property rights and indemnity, while suggesting areas where compromise, like choice of law/venue, may be feasible, emphasizing the importance of strategy, psychology, and common sense in contract negotiations.

My Business is Worth What????? Pros Weigh-In on Multiples

March 12, 2024

This blog post, the second in a series about right-sizing price expectations when selling a business, discusses the reality of EBITDA multiples in sales pricing, featuring insights from three experts, and advises business owners on preparing for sale and setting realistic expectations.

My Business is Worth What????? Pros Weigh-In on How to Manage Your Own Expectations When Selling Your Business

February 20, 2024

This blog post discusses the complexities of business valuation for sale, highlighting expert insights on the discrepancy between perceived and real market value and the emotional and practical factors influencing this gap.

2024 DOL Update: Final Rule for Changes to Worker Classifications

January 30, 2024

Exploring the U.S. Department of Labor's New Rule on Worker Classification: Implications for Businesses in Navigating Employee vs. Independent Contractor Designations

Navigating the Corporate Legal Landscape: Essential Tips for Running a Business in 2024

January 23, 2024

Discover essential tips and personal insights for successfully starting a business in 2024, from avoiding common pitfalls to ensuring legal compliance and technological preparedness.

Buckle Up, Business Owners! Navigating the Corporate Transparency Act Rollercoaster

November 27, 2023

As we’re hurtling towards the end of 2023, it’s time to chat about something that is causing seismic changes in the business and legal hemispheres – the Corporate Transparency Act (CTA). Now, to be fair, we talked about this earlier in the year, but I know it was just too far away to really mean anything. The denial window is running out though. So, I’m going to try and give you the high-level basics here (it is annoyingly complicated) and some things you should probably think about doing before the end of the year.

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