A buy/sell agreement is an agreement that discusses how a member of an LLC or shareholder of a corporation can sell his or her ownership in the company. Often, it is its own separate agreement, but it doesn’t have to be. Just as often, it is a provision in another company document like an LLC’s … Read more
Indemnification is not only a big word, it is a concept a lot of people don’t understand. It isn’t their fault. Whenever someone encounters the word “indemnification,” it is usually in a contract provision that says something like: You agree to indemnify, defend and hold harmless Company and its respective directors, officers, employees, service providers … Read more
We have a fabulous guest post from Jason Guttenberg of Ace Insurance Group. He helps explain how a company can use insurance to decrease risk related to death of a shareholder or LLC member. Don’t know much about buy/sell agreements or provisions? Don’t worry, I’ll explain them more in a soon to be coming post, … Read more
Contracts provide a lot of information: How payments are made, when deliveries are expected, and where lawsuits regarding the contract will be filed. But one of the most important things a contract can do is allocate risk and costs associated with those risks. Two provisions that help with that are limitation of liability and indemnification … Read more
Mission statements are a formal summary of the aims and values of an entity, whether that is a company, organization, or individual. What is it that makes you tick? Your touchstone? This should guide you when making decisions about your business. We have talked about strategic planning in the past (1, 2, 3 and 4). … Read more
A DUNS (or D-U-N-S®) Number is a unique nine-digit identifier for businesses. Dun & Bradstreet, Inc. (“D&B”) created the Data Universal Numbering System, or DUNS Number, in 1962 as a way to identify business entities on a location-specific basis. It is a proprietary system that is maintained solely by D&B including a registered trademark for D-U-N-S … Read more
I admit it, one of my favorite things about craft beer is the clever names. There are puns, odd references, and just plain silliness. It just tickles my fancy. But they are also trademarks, and as more beers come on the market, there are more chances for conflict. These disputes have been highlighted by several … Read more
Giving Tuesday was created as a vehicle to channel all of the good will and spending from the holiday season into charitable organizations. A charitable organization are usually tax-exempt organizations under section 501(c)(3) of the Internal Revenue Code, and, thus called 501(c)(3)’s. Organizations that are accepted by the IRS to be tax exempt under section … Read more
We wish you a Happy Thanksgiving! We want to take this time to express our gratitude for you reading our blog and all of the kind words, ideas, and feedback. Sincerely, OgdenGlazer, LLC
