How to Keep Your Non-Binding Term Sheet Non-Binding

How to Keep Your Non-Binding Term Sheet Non-Binding Most business deals start with an informal document memorializing the terms of the transaction to be negotiated.  Known interchangeably as a Memorandum of Understanding (MOU) or Letter of Intent (LOI),  such documents are often intended to be non-binding.  In some circumstances, however, parties can be bound to a “non-binding” […]

General Partnerships vs. Limited Partnerships

General Partnerships vs. Limited Partnerships Tony decides he needs help opening his online shoe store.   He calls his old friend Steve, a marketing guru, who agrees to provide him with marketing services in return for a cut of the profits.  He also reaches out to his accountant friend Thor, who agrees to handle the company’s […]

When The Corporate Veil is Not Enough

When The Corporate Veil is Not Enough Business owners are naturally concerned with protecting their personal assets from liability for their company’s debts and other obligations.  If managed properly, business entities such as corporations and LLCs will do just that, thanks to the “Corporate Veil,” which is a legal concept that separates the personality of a corporation from the […]