Future Proofing a More Valuable Small Business

There Are A Number of Relatively Easy Ways of Adding Value to a Small Business Whether you are buying, growing, maintaining, or preparing for succession or sale – having proper formalities will save you time and money.  Not only that – it will add value and certainty to your small business and by extension, your … Read more

Mental Capacity for Binding Contracts

Mental Capacity as a Requirement for Valid Contracts Although there is a fair amount of overlap between mental capacity requirements as applied to wills and probate (including elder law such as guardianship related issues) when compared to the mental capacity requirements for legally binding contracts, in this article I’ll be focusing on capacity as is … Read more

What’s included in a Business Plan

What’s Included in a Business Plan? A business plan serves several purposes: Identifies the company and key personnel Explains the products or services Outlines the business operations and organizations Examines the marketplace and other competitive businesses thereto Identifies the marketing and sales strategies Conducts a financial analysis and provides financial statements Outlines the funding requirements … Read more

Sample Letter of Intent for a Texas Business

A letter of intent is used for a variety of reasons including, but not limited to, the following reasons: protect confidential information, outline terms, and have the parties manifest interest in the transaction – all before incurring significant legal expense or wasting effort in preparation. Sample Letter of Intent: LETTER OF INTENT TO BUY & SELL Dear Owner’s … Read more

Small Business (SBA) Loan Requirements

Getting a Small Business Loan Getting a small business loan is a dream come true for many people.  For those who are able to qualify, it can be a life-changing experience.  A local commercial banker has provided me with a list of factors and considerations, and requirements for receiving an SBA loan. Small Business Loan Factors Here are the … Read more

Sample Settlement Agreement and Release

Sample Settlement Agreement There are many circumstances when a business owner might wish to settle a dispute out of court instead of engaging in costly litigation or allow a grievance to drag on that could ultimately harm the owner both from a reputation and from a fiscal perspective.  A well-drafted settlement agreement should fully dispose of all items of … Read more

Sample Non Competition Agreement For Texas Business Owners

Sample Non-Competition Agreement For Texas Business Owners There are many reasons to insist on a non-competition agreement between your company and an employee.  A non-competition agreement (sample provided below) should clearly describe what subject matter the other party is agreeing to not compete with/for.  Something to keep in mind when creating a non-competition agreement (or any agreement for that matter) is that creating … Read more