Running a business is an incredible undertaking. On any given day, a business owner needs to tackle matters related to employment, compensation, finances, customer service and business transactions, all while taking into account what is best for the company. This leaves little time to navigate the legal complexities of operating a business. Rather than ignore these issues or try to put them off indefinitely, Ohio employers would be wise to work with an attorney who can take on the various legal matters facing a company and work to address and resolve them. For instance, every company needs to protect itself, …

The root of a solid business relationship is typically a well-drafted, clear contract between parties. This document drives behavior, outlines expectations and specifies conditions of the relationship that must be observed. Considering how much can be at stake and protected with these contracts, it is critical that they be crafted with the specific parties and interests in mind. In other words, what works for some business relationships may not work for others. For instance, payment-by-results contracts may seem appealing for you, but they are not right for everyone. Recently, this article in the Harvard Business Review examined PbR models and …

There are many advantages to operating a small business as opposed to a large corporation. Smaller businesses can be more agile and quick to respond to consumer needs, they often have a strong knowledge of local markets and it can be easier to take ownership over certain aspects of a product of business when there are fewer people to pass the buck. When it comes to maintaining relationships with employees, small businesses can also come out ahead. With fewer employees, small companies can find it easier to foster honest, trustworthy and personal relationships between employees and with the employer. However, …

In this blog, we have discussed the various complexities and legal challenges that are presented when a company attempts to acquire or merge with another company. In this post, we noted that vast majority of these deals are approved. In fact, just 5 percent of filings for mergers lead to challenges from agencies like the Department of Justice. While they may be rare, these challenges do happen; when they do, they are often newsworthy events. For example, recently, the DOJ filed lawsuits to stop two mergers in the healthcare insurance industry. The two separate transactions would combine the third- and …

Between finding investors and the logistical complexities of starting a business, new business owners face a lot of challenges in the early days of operation. Some don’t make it past this difficult stage, and others just barely make it through. The fact is there are many elements working against small business owners early on, but thankfully there are many things you can do to make the road ahead a little smoother. For instance, picking a business name can seem inconsequential, but it is one thing that could have a more profound impact on a company’s success than people expect. When …

The decision to acquire another company is not one that should ever be made lightly, as this type of transaction can affect both companies involved, consumers, employees, stockholders and investors. The Federal Trade Commission certainly doesn’t take these transactions lightly, and in fact, it has been stopping some high-profile purchases in recent months. However, pharmacy giant Walgreens is hoping that its most recent proposed acquisition will make it past the FTC. According to reports, Walgreens is looking to buy Rite Aid, another chain of pharmacies, for about $9.4 billion. Interested parties are cautious, however, because the proposed acquisition is expected …

While technology can generate many new benefits and opportunities for small businesses, it can also raise challenges. Among these are data and privacy protection challenges. Modern technology has made it easy than ever for small businesses to compile, store, transfer and access data. Given this, many small businesses have a great deal of digital data, with the data sometimes containing a considerable amount of private information. With so much data, concerns can arise regarding ensuring that this data and private information about customers and companies a business is working with aren’t compromised or improperly accessed. Data/privacy problems can put a …

Starting a business is not just about having a good idea or product to sell. It also takes a considerable amount of money to get a business off the ground and running. You need money to hire people, create or make available your goods and services, rent office space, launch a marketing plan and complete a whole host of other objectives critical to operating a business. In order to secure this money, you will likely need to reach out to multiple sources, as noted in a Forbes article. However, before you secure the capital you need to start a business, you …

People outside the business world often think about a particular business in very black-and-white ways. It’s either a success or a failure, failing or thriving. But a business doesn’t just run at two speeds. There are peaks, valleys and plateaus, and business owners must adjust to each of these situations. For instance, recently, tech giant Microsoft acquired professional networking site LinkedIn in a $26.2 billion deal. There are a few takeaways from this deal that could help readers of this blog assess their own options in terms of business acquisitions. To begin with, LinkedIn wasn’t exactly a failing business in …

Most people get into the healthcare industry because they want to help others, whether they become a doctor or work as an administrator in a nursing home. However, there are many realities of this industry for which you might be unprepared. For instance, regardless of if you work in a huge hospital or own a small clinic, you are still part of a business, and a business can succeed or fail based on its professional relationships. Managing these relationships can be one of the most important priorities for healthcare providers, and there are things you should do and things you …