Northern Georgia General Law Blog
Factors to consider downsizing your business
As a business owner, you may have to make difficult decisions in the best interests of the company. One of these decisions may be to downsize the business. Downsizing isn’t straightforward and there are several things that you will need to think about. Outlined below...
Are you liable for your business’s debts?
One thing that can sometimes hold business owners back from taking risks is that they do not want to risk their personal assets. A business owner may be considering taking out a loan to expand their company, but they’re worried that the business may not pan out. If it...
Silence is golden: The art of business trade secret protection
Do you believe your business has no secrets to protect? Many entrepreneurs think the same thing, but you probably have more trade secrets than you realize. From unique formulas to customer lists, valuable intellectual assets qualify as trade secrets, even those that...
Your business deserves an official partnership agreement
If you and another individual are starting a business, you may find it tempting to skip any official steps. The two of you may just start working together, even designing your branding and coming up with the business name, but without any paperwork in place. It feels...
Understanding the ins and outs of Chapter 11 bankruptcy
Many successful Georgia businesses have had periods of time where they had to battle through rough stretches financially. In some cases, these issues came about due to macroeconomic conditions, while in others, they were the result of something company-specific....
3 qualities your business partner should have
Business partnerships can be very successful, but they can also fail dramatically. It’s quite important for the right business partners to work together. If the partners are not a good fit, it can cause their business to fall apart. If you’re thinking of starting a...
3 mistakes to avoid when filing for Bankruptcy
Financial hardship can strike when you least expect it. One moment your finances are in line and the next, you are dealing with a medical debt that you never saw coming. If you find yourself grappling with personal debts that you cannot seem to pay off, you may...
Should I structure my new business as a sole proprietorship?
Starting a new business is an exciting venture. One crucial decision entrepreneurs face at the beginning of launching a new enterprise is determining the new company’s business structure. In the realm of business entities, a common consideration among solo owners is...
Why creditors need to know what insolvency means for a debtor
Many people don’t really understand the difference between insolvency and bankruptcy. If you learn that a business or individual that owes you money is insolvent, you may be unsure of what that means for your ability to collect on that debt. Under U.S. bankruptcy law,...
How to choose a business structure
Forming a business can be overwhelming due to the crucial decisions you need to make, including choosing a business structure. Should your business be a sole proprietorship, partnership, corporation, or limited liability company (LLC)? Here are three factors to help...