As a Missouri small business owner, you may consider your intellectual property one of your most valuable assets, and chances are, you would be right to do so. If you have formulas, recipes, techniques or other elements of your business that set you apart from your competitors, you likely want to protect them to the fullest extent possible. Luckily, there are some simple steps you can take to help safeguard your valuable property and prevent it from falling into the wrong hands.
If you live in Missouri and operate your own small business, you may be handling your own employment needs with regard to hiring, firing and so on. Often, one of the best ways to prevent potential lawsuits from employees or otherwise finding yourself in trouble involves adopting some solid human resource-related practices from day one, and this holds true when it comes to employment contracts. At Kozeny & McCubbin, we understand the essential elements of an employment contract, and we have helped many Missouri small business owners fine-tune theirs and prevent potential problems down the line.
If you are a Missouri business owner, then you know that sometimes things do not go according to plan. Competitors arise, deals fall through and unexpected clients land right on your doorstep. There is absolutely no way to plan for everything, but that should not prevent you from working with a planning perspective.
When you have a small business in Missouri, you may come to a point where you begin to think about expanding. This is the natural course of business. You start out small and eventually expand into a larger business where you can make more profit and serve a larger group of people. However, if you try to expand at the wrong time, you could hurt your business. This is why it helps to know the signs that expansion is a good option.
When you enter into a business partnership in Missouri, you have to be aware of the responsibilities placed on both you and your partners. If any of you decide you no longer want to be part of the business or can no longer be a part of the business, it can create problems. There are many reasons why a partnership may end, and according to Entrepreneur, when one partner leaves a business, it can dissolve that business. This is why it is essential to understand how to handle a partner leaving.
It may not be something that you have ever considered, but if you are a business owner in Missouri and you are married, it is well worth your time to consider what would happen to your business if you were to divorce. A divorce can be a very difficult situation. Money and finances are often a major sticking point. If you are the owner of a business, it becomes an asset that could be up for grabs during your settlement. Luckily, there are ways you can safeguard your business.
In forming a limited liability company, Missouri business owners have the option under state law to organize their company’s leadership in one of two ways. Generally, entrepreneurs can create their new business as a manager-managed or a member-managed company.
As a Missouri entrepreneur, your business is a huge part of your life. Whether you are considering a new startup or expansion of your existing company, your business plan is vital to the success of your venture. Entrepreneur magazine calls your business plan your written description of the future of your business; that is, what you plan to do with your business and how you plan to do it.
Regardless of how well people get along, before they go into business together in Missouri, they need a partnership agreement. According to FindLaw, if partners do not take the time to create this contract, their business relationship will instead be defined by the state's rules for partnerships. While these may work for some, they cannot address the unique aspects of each company.
If you are preparing to start your own business in Missouri, you likely understand the need for careful financial planning and strategic management in order to make your dream a reality. We at Kozeny and McCubbin can help you make smart choices in the creation of your company that can make a big impact on your bottom line.