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Any business partnership where two or more people share ownership, including LLCs, shareholders in a corporation, and partners in a partnership, should have a buy-sell agreement. This legally binding contract outlines what happens when an owner dies or wants to leave the business and can help to prevent disagreements between the remaining owners.    Without a buy-sell agr...

As a business owner, you will want your business to grow and trump your competitors. But most of the time, you can only wish for things like this. The real challenge is how you intend to actualize all these dreams. In the business world, there are various methods a business owner can use to expand his business further. And one of them is a joint venture.  So, What Exactly is a ...

As someone who is probably new to the business world, some unfamiliar terms are likely to come across during your entrepreneurial journey. And one of them is a business entity. But before we explain what business entities mean and why they are very important, we need to let you know that understanding these unfamiliar business terms will go a long way in helping you navigate the business ...

Whether you're just starting in business or looking to take your company to the next level, assembling a board of directors can be key. A board of directors is a very important part of any business. Even more so for startups with big aspirations. But what does it take to put together an effective board, and how can you get the most from your team? This ultimate guide will tell you everyth...

The notion that competition is good for business may apply only to customers or consumers. Truth be told, as a business owner, the last thing you want is fierce competition. It gets even more complicated if the competitor is one of your current or ex-employees.   As a business owner, if you are faced with a situation where a current or past employee of yours is just se...