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Archive for for May, 2017

How Much Does It Cost: What You Really Need to Ask

May 9, 2017

R. Shawn McBride recently spoke about the differences in the cost of quality service. Here is the transcript:

https://www.facebook.com/rshawnmcbridepublic/videos/1466245063407395/ 

Good morning folks, R. Shawn McBride with you here, live. Talking about how much does it cost? And this is a common question I get. Sometimes from my law firm, sometimes from my strategy firm. People call up and say, “How much does it cost?” And, it’s really tough to answer that. This would be like calling several car dealerships and saying, “What does a new car cost?” Well, if you call a Kia dealership, you’re going to get a really different answer than if you call a Ferrari dealership.… Read the rest

Partnership Agreement Form: Why There is No One Form

May 8, 2017

R. Shawn McBride recently spoke about partnership agreement form and why there is not just one form. Here is the transcript:

https://www.facebook.com/rshawnmcbridepublic/videos/1467664139932154/

 

Folks, R. Shawn McBride with you here live, getting ready to give a presentation here shortly. I’m going to be talking about business partnership agreements, which brings up a recent issue. I was recently contacted, this happens over and over again, somebody said, “Can I get your form for a partnership agreement? How would I form a partnership?… Read the rest

What State Should I Form In?

May 5, 2017

R. Shawn McBride recently spoke with Angela Langlotz about the topic of what state people should form their entity in. Here is the transcript:

https://www.facebook.com/rshawnmcbridepublic/videos/1470001389698429/

R. Shawn McBride:  A couple of people emailed and followed up with me and said, “Well, how do I know what state I should form my entity in?” This is something that we get. People form LLCs they form corporations. People in the know, know they get to choose, so you’ve got to choose the one that’s right for you.… Read the rest

Setting Up an LLC

May 4, 2017

A limited liability company does just what it says — it provides limited liability to business owners in most jurisdictions. It can be very simple to set up an LLC, especially if all you want is a legally-sufficient entity. But there could be more to it.

Most states also have what often is called a certificate of formation, though it may have other names. This is a filing with the state that notifies people that you are using your LLC and the name you are using.… Read the rest

Do You Need an Entity to Protect You?

May 3, 2017

You’re starting a business? Congratulations. Did you set up an entity? Should you?

There’s plenty of hoopla these days about setting up a limited liability company or a corporation. If your goal is to build a business for the long-term, it probably makes sense to set up an LLC or other entity. That’s especially true if you have visions of eventually selling your business or getting other people involved because you want to have a separate legal entity that hosts your assets and liabilities.… Read the rest

Are You Ready for the Public?

May 2, 2017

Is it time to take your private company public?

To determine if it’s even time to consider going public, you need to ask two questions. Do you have the critical mass to maintain a public venture? Why do you want to bring the public into your business?

First, being a public company is costly. You will have legal compliance fees, accounting fees, and administrative businesses. The U.S. Securities and Exchange Commission requires filing, maintenance, and record-keeping. When your company is at the point where compliance and other costs required of a public company are small compared to the investor benefits you will receive from being public, then it may be time to start looking at going public.… Read the rest

Time to Restructure Your Business?

May 1, 2017

A business can be set up in several ways. Is yours an LLC? An S corporation? C? Regardless, at some point you need to ask: Should I change? When business owners ask me, my answer is that there is no specific time or event that dictates that the time to change has come. We need to look at where your business is and where it’s going.

When you set up your business, I hope you worked with a legal advisor to help determine whether your best route would be to establish a limited liability company or one of the other entities.… Read the rest

All postings are intended to be planning tools to familiarize readers with some of the high-level issues discussed therein. No posting is intended to be a comprehensive discussion and additional details should be discussed with your transaction planners including attorneys, accountants, consultants, bankers and other business planners who can provide advice for your circumstances. This article should not be treated as legal advice to any person or entity.