Here is the scenario: You’re a restaurateur and are ready to move on. You own the restaurant’s assets and the real estate where the location sits. You’ve found a Buyer! But, the Buyer can only get a conventional loan to purchase the real estate and doesn’t have the cash to purchase the restaurant’s assets. What … Read more
File this one under “Frequently Asked Questions.” Here is the scenario: You remember paying Wisconsin a fee to create your LLC years ago – you know it exists – but other than that, you don’t really know where any of your documentation is. Now, you want to open a bank account for your Company and … Read more
An S-Corporation is not a special type of company. Rather, it’s a special tax designation that a company can make with the IRS. So, if you are an LLC or Corporation, you can make an S-Election and become an “S-Corp” (although the reasons for doing so as an LLC or Corporation may not be the … Read more
Here’s a secret: I hate(d) blogging. If you take a look at my LinkedIn profile, you can see the long lengths of time that passed between my posts – it was pretty clear that it wasn’t my favorite thing. At one point, I even considered totally giving up – what percentage of lawyers actually blog, … Read more
Actually, I have two. Or, to be more precise, Department of Revenue has two for you. Proposal 1: Fact Sheet 3111: When Must a Person Obtain an Alcohol Beverage Retail License? (Comment Period Closes April 10, 2019) Proposal 2: Fact Sheet 3112: Winery and Class “B” Beer License (Comment Period Closes April 16, 2019) In … Read more
Full Disclosure: If you want to read the source article that gave rise to this post, you can do so here: https://www.cnbc.com/2019/03/23/how-sex-drug-promescent-sparked-a-150-million-legal-battle.html. I would categorize it as “kinda-NSFW,” but probably not something you want to have up on your screen should your boss be doing laps around the office. Under Wis. Stat. Sec. 134.90(c), a “trade … Read more
In our engagement letter, we have some very important language. Possibly the most important is this: It is expressly agreed and understood by Client that OG + S is retained for the sole benefit of the Client, and not for the benefit of any other person, partnership, corporation, shareholder, office, director, affiliated company or guarantor … Read more
Is it really Spring yet? In Wisconsin, Spring is a state of mind and a hope for the future. So, Happy Spring! Now is a great time to think about the changes, updates and innovations needed in your business to ensure continued success. This is a short post discussing a few simple things to think … Read more
“Sure, 50\50 ownership is fine” the potential clients said to me as they looked across my desk. “We haven’t really talked about it, but I guess it’s fair. Do you think that’s best?” Entrepreneurship is my jam – I love it! I have met with many nascent entrepreneurs – all with various legal and business … Read more
Back in the day, when we used read things in hard copy, there was a feature (in The AV Club, I think) that demanded that bands they reviewed to “Justify your existence.” The bands had to explain why they mattered; why should the customer should listen to their music, buy their CD (yeah, I just … Read more