Imagine spending decades building your family business only for it to crumble because of one detail you overlooked: succession planning. This scenario is more common than you might think. According to the Family Business Institute, only 30% of family-owned businesses...
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Business Law
Does your Maryland business count as marital property?
If you own a business and are going through a divorce, there is a chance you may have to give up part of your business. This may happen even if you are the only one running the company. Maryland divides assets based on the principle of equitable distribution. The...
The function of corporate bylaws
Corporations in Maryland and throughout the country are generally required to have bylaws. These are a subset of rules that typically clarify where the company is located, who is in charge of the business and how certain rules can be changed. Bylaws may also stipulate...
How do you prepare an LLC operating agreement in Maryland?
When starting a business, there are many things to consider. One important decision is whether to form your business as a limited liability company (LLC). An LLC provides business owners with limited liability protection, meaning that business owners are not...
Why small business often fail
Small businesses often serve as the backbone of the economy since they provide goods, services, employment, tax revenue, and more. Unfortunately, many small business ventures lead the owners to bankruptcy court when they fail. Tragically, a large percentage of small...