Strong communication with employees should be a top priority for Ohio business owners. Without effective communication, the relationship between these two groups of people can suffer considerably and people wind up with far more questions than answers — and far more disputes than resolutions. This is why your employment handbook will be so critical. As noted in this article by the U.S. Small Business Administration, handbooks should be written and revised in a way that is clear and informative, but it is also vital that they are legally sound and fair. Below, we will look at three areas of your …

Starting a new business is an incredible responsibility. Not only must you be focused on your business goals, you also need to manage the needs of your employees.  To do this, you will likely want to have a handbook and employee agreements in place to establish some ground rules. You will also want to protect yourself and your bottom line, so it can be wise to consider including employment dispute resolution clauses in those agreements. Increasingly, start-up businesses are following in the footsteps of larger corporations and asking employees (and potential employees) to sign arbitration clauses. Arbitration clauses state that …

There are many questions when it comes to protecting certain elements of your business. Can you trademark your logo? Should you consider licensing agreements? How can you protect creative works? In some cases, these difficult decisions about what you can and cannot do may already be made for you, thanks to intellectual property laws. However, these can be extraordinarily complicated. For instance, copyright laws regarding clothing are being put under the microscope by the U.S. Supreme Court in response to a case between two cheerleading clothing companies. The case involves a large, well-established company, Varsity Brands, and a relatively new …

Reorganizing a business involves a number of details and moving part which need to be addressed and managed. Failure to do this can lead to avoidable mistakes that can ultimately cost a lot of money and even jeopardize the future of a reorganized business. One such detail that you may need to confront head-on if you going through a reorganization is how to deal with the people whose jobs may be terminated as part of the new structuring. Unfortunately, this is often a necessary part of a business strategy as it can work to streamline business and manage costs. But …

One of the tools that companies have to protect themselves includes employee agreements and contracts. These documents can prevent people from disclosing confidential information or working with the competition in the event of a job change. When both parties comply with the terms of these contracts, there may be little cause for concern. However, if an employee does leave one company to work for a direct competitor, for example, legal disputes can arise. In order to resolve these situations, oftentimes the case will head to court where employment contracts and new job positions will be scrutinized. We have seen this …

Any time a company is struggling to pull in a profit, stay competitive or achieve its goals, business owners may very well consider reorganization. This action can shake things up and potentially reveal problems that were hidden or causing avoidable setbacks, but it can also significant upset the daily and short-term capabilities of a company. With this in mind, it should be clear that reorganization should not be done on a whim or without a strategy in place. There are many different approaches to consider and it can be crucial to assess the changes and potential fallout that can be …

Merging with or acquiring another business can be a critical step in any company’s growth. However, they are complex and intricate processes that don’t just happen overnight. It can take considerable planning, valuation and negotiation to get to the point where a merger or acquisition can be considered and/or approved. Even at this point, there is the potential for the deal to be denied if the Federal Trade Commission believes it could violate antitrust laws that prevent monopolies. Most mergers do not raise any red flags. According to the Department of Justice and the FTC, just 5 percent of merger …

Contracts can be one of the most important tools protecting your company right now. These legal documents are crucial in establishing expectations, defining roles and setting boundaries that can prove to be critical in just about any industry. However, a contract is only as strong as its terms. This means that if you are party to a contract that has unenforceable terms, the entire agreement itself may be voided.  There are many different reasons why a contract or certain clauses may be deemed invalid. They can be challenged if they are: Inherently unfair to one party Illegal or include violations …

Business disputes have the potential to make or break a company. There can be money, reputations and even jobs on the line, which is why it can be crucial that these disputes be resolved in a fair and efficient manner. However, this can seem impossible when one of the companies involved in a business dispute is much larger, more profitable or more well-known than the other. While this can certainly present a number of complex challenges, it does not mean that company should not be held accountable for breaking the law. For example, you are likely quite familiar with Apple. …

If you are starting a business or making changes to an existing business, you will need to determine what type of business you want it to be. This doesn’t mean figuring out what you will do, what your mission statement will be or how you will compete in the marketplace. It means that you will have to establish your business structure. As noted on the Internal Revenue Service website, there are five types of business structures: sole proprietorship, partnership, corporation, S corporation and limited liability company. In this post we will look at the very basic distinctions between these structures. …