How often do shareholders need to meet? This is among one of the most commonly asked questions from new business owners. The truth is, it depends, but it is typical for a corporation to hold several required formal meetings annually. The shareholders meeting is where corporation shareholders gather to not only discuss...
Considerations in Drafting Incentive Compensation Plans
An incentive compensation plan can be a great motivator for your employees. In fact, with the right plan in place, you can effectively encourage those desirable behaviors in your employees and fairly awards them recognition for their contributions. In order to not only help ensure that your incentive compensation plan is effective,...
What to Include in Your LLC Operating Agreement
An LLC operating agreement establishes how a limited liability company will be owned, managed, and operated. While Pennsylvania law does not require every LLC to maintain a written operating agreement, having one can help clarify expectations, prevent disputes, and provide guidance when important business decisions arise.
For Pittsburgh...
What is Business Law?
What exactly is business law? This is a great question and the answer may actually bring some surprises to many. That is because the breadth and variety of issues handled in the business law realm are more expansive than most people may realize. Sure, we business law attorneys deal with business...
Common Types of Business Disputes
Those in the business world are usually no strangers to disputes popping up. Those entering the business world are likely to confront the same challenges. Regardless of your business type, the industry you are in, or the size of your business, it is all too likely that, at one point or another,...
How Do You Dissolve a Corporation?
When you establish a corporation, it will technically have an indefinite lifespan. A corporation will exist unless affirmative steps are taken to dissolve it. Instead of leaving your corporation in legal limbo, if you want to end it, then take the steps necessary to dissolve it. Here’s how this can be...
Start-Up Challenges and How You Can Beat Them
Starting your own business is an exciting endeavor. The thought of building something from the ground up that you have invested your time, ideas, and resources into can be like nothing else. Of course, those setting out on the start-up entrepreneurial endeavor will face challenges. It is a hard road to...
Moving Your LLC to Pennsylvania
Have you moved to Pennsylvania after previously forming your LLC in a different state? If so, you are likely considering moving your LLC to Pennsylvania. How do you move your out of state LLC to Pennsylvania? Well, this can be accomplished through the domestication process.
Moving Your LLC to...
Enforceability of Non-Compete Agreements in Pennsylvania
Business owners know firsthand what it takes to build up, sustain, and grow a successful business. Among the many things that go into this, putting legal protections in place to shield the business from potential threats can be essential. This is why restrictive covenants, such as non-compete agreements, have become integrated...
What are the Advantages of an Options Contract?
An options contract is a legal agreement and tool that is used between the contracting parties to facilitate a potential transaction. In this agreement, one party is given the right to purchase or sell an asset underlying the agreement at a price established at the time the contract is executed. The set...