LLC vs. Corporation: What is the Difference?

**This article is co-authored by Sawsan Selim From the onset of formal education, young students are taught that entrepreneurs are the risk-takers of society. However, good entrepreneurs do not take blind jumps and hope for the best. Quite the contrary; successful entrepreneurs are those who take calculated risks and make good decisions at the get-go. The longevity and prominence of …

Handshake to Seal the Deal

You work so hard. You spend so many hours negotiating a deal. Before you turn the agreement to the lawyers to draft it, it happens. You got what you came for- a fantastic deal.  They get up, you get up, and you… handshake on it.  What does the handshake really mean? Do you really have a legally enforceable agreement or …

Before You Decide to Sell Your Business

Business owners work so hard to establish and grow their business but at some point, for various reasons, a business owner may decide to move to another business or sell his/her business.  Many think that if the business is slow, it may mean that they have a bad business acumen or the business is simply not good anymore.  For others, …

The Thorny World of the Operating Agreement

The Operating Agreement (OA) is an agreement prepared to govern the business relationship between members of the LLC.  The OA is similar to by-laws in a corporation and acts as the constitution of the company through which members’ rights and duties are defined.  The OA outlines each member’s role, right, duty and entitlement; this includes membership interest, capital accounts, distribution …

The U.S. Treasury Department Announces Key Regulations and Legislation to Counter Money Laundering and Corruption, Combat Tax Evasion

On May 5, 2016, The U.S. Treasury Department announced several actions to strengthen financial transparency and combat the misuse of companies to engage in illicit activities. Treasury announced a Customer Due Diligence (CDD) Final Rule, proposed Beneficial Ownership legislation, and proposed regulations related to foreign-owned, single-member limited liability companies (LLCs).  Together, these efforts target key points of access to the …

What is the Difference between Sublease and an Assignment of a lease?

In today’s ever changing business environment and the constant change of business needs to operate and expand or minimize work space, a company should closely observe its business plan and negotiate flexible terms when negotiating a lease. Despite of all of the preparation and negotiation, business may unexpectedly increase or for any reason business may drastically decrease.   In both cases, …