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Cincinnati Business and Commercial Litigation Legal Blog

What is at-will employment?

Like most states, Ohio is an at-will employment state. What does this mean for the relationship between employees and employers, and how does it define their rights?

Essentially, it does away with any risk of a breach of contract because you don't need employment contracts. Employers have the right to let employees go at any time. An employee could start on Monday and legally be fired on Tuesday. That doesn't breach the employee's rights.

An operating agreement can help you protect your business

When starting a business in Ohio, there are many decisions that you must make. One of the most important initial steps that you would be wise to take is to establish how your business will run. Limited liability companies need operating agreements to outline the function and the rights of each owner.

If you are starting a business and plan to structure your business as an LLC, you may need an operating agreement. Drafting this agreement can be a complex process, and you would be wise to consult with an attorney as you plan your business operations, as well as your rights and responsibilities.

What to do after you form an LLC

If you are considering forming a limited liability corporation (LLC) for your business in Cincinnati, there are plenty of things you should do afterward. Every item listed below is just as important as the others. Be sure you take into account all of the items on this list for the steps you take after forming an LLC.

Once the paperwork is filed, you can create and then execute the bylaws of the organization. The bylaws will govern the daily operations of the company, including how meetings are held, when votes are required, how stock is issued and the duties for the officers.

3 phrases that warn you that a deal is problematic

Often, when talking to other business owners or vendors, you'll find people who want to do a deal without a contract. They may just not want the hassle, or it may be a direct scam. No matter what, it's a huge risk, and businesses have been ruined by people who skipped critical legal steps.

If you talk to someone who is trying to convince you not to use a contract, they may say one of the three following phrases. These can tip you off and warn you to stay far away from that deal.

3 things to do when forming your company

You've finally decided to take the leap. You're going to start your own company. You're excited to see just how profitable it can be, and you're thrilled to be your own boss.

Don't get ahead of yourself. A lot of new business owners make the same mistakes. To avoid them, do these three things while planning and forming your new company.

The origins of termination for convenience clauses

A termination for convenience clause is fairly powerful, in that it gives one party the ability to call off the deal even if the other party argues that everything was done perfectly.

For example, a contractor could be hired to construct a new building. The project may be progressing perfectly, it may be on time, the quality of the work may be top-notch and that clause still means that the contractor could essentially be fired. This isn't a breach of contract because the clause allows it, making it difficult to start a lawsuit, even though taking on that job may have been costly and meant giving up other work.

Do you know what to include in a partnership agreement?

As a business owner in Ohio, you understand that it’s often necessary to bring in outside assistance to fulfill a business need. In some cases, this may mean creating partnerships with other individuals or entities who can help your business flourish. If you consider forming a partnership, it’s important to carefully assess what that means and to protect your and your business’s interests.

When establishing a formal business partnership, it’s also important to create a partnership agreement that clearly defines and outlines the roles and responsibilities of all involved parties.

Avoid unfair distributions by updating your will

One of the biggest reasons for an estate dispute is that one person feels the distributions were unfair. A daughter feels like she was given less than her brothers, for example, and thinks she deserves an equal portion.

This can happen for many reasons, but it's important to remember that the value of certain portions of an estate can change. It's wise to write a will early -- decades before you'll need it -- but you may want to update it to reflect any current changes.

3 big benefits of a limited liability company

If you're thinking about starting your own company, one of your options is to set it up as a limited liability company (LLC). This offers a number of benefits that you may find useful.

For one thing, the company itself does not have to file and pay taxes every year. Instead, money earned is then taxed with your own personal taxes, as the business owner. Therefore, since it passes the obligation on in this way, it's called a "conduit entity." You then pay the taxes by reporting losses and income yourself, keeping things simple.

What if I am asked to sign a questionable contract?

When a worker first enters a particular industry, he or she often faces the prospect of having to agree to unfavorable employment terms in order to get their foot in the door to a particular position or company. Like most entry-level experiences, being the lowest rung on the professional ladder means having the least amount of clout to dictate the terms of your employment.

Unfortunately, many workers sign contracts they do not understand because they feel they have no choice in the matter if they want a job. This is particularly true of non-disclosure agreements and non-compete clauses.

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