Do You Need a Business Succession Plan?

Do You Need a Business Succession Plan?

Business Law
Many people own family businesses. While you might have an idea of what you want to happen to the business after you retire, do you have a succession plan in place? Many business owners do not consider the importance of estate planning when it comes to their company, and it can cause complications, disputes, or disruptions of operations and loss of profits. It is important to discuss a succession plan with an experienced business lawyer in Houston as soon as possible. The Benefits of a Succession Plan A business succession plan establishes an orderly transfer of ownership and/or management of the company should something happen to you as the owner. If you retire, you have the chance to organize this transfer ahead of time. However, what happens if you suddenly…
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Know the Labor Rules for Restaurants

Know the Labor Rules for Restaurants

Business Law
The Fair Labor Standards Act (FLSA) and Texas labor laws both set standards for how employers compensate and treat employees. Companies must pay non-exempt employees a minimum hourly wage, overtime rates, and more. However, if you own a restaurant or a hospitality establishment that employs tipped workers, the rules can be a bit different. It is important to understand these laws to prevent employee complaints, liability, and civil penalties. Compensating Tipped Employees Many types of employees earn tips, which are voluntary payments customers make in addition to their bill. Mandatory service charges by a company are not considered to be tips. The following are some tip basics for Texas employers: Tips belong to the employee, not the employer Tips can count as a credit toward minimum wage Tip pooling is…
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Is it Time to Sell Your Business?

Is it Time to Sell Your Business?

Business Law
The decision about whether or not you should sell your business can be an extremely difficult one. After all, by that point, you have likely invested a considerable amount of money and hired staff to keep your business up and running. Moreover, the process of selling a business can be an extremely difficult task. If you are contemplating whether to sell your business, call Houston business attorney Tim Sutherland today. The right attorney can help you weigh the pros and cons of selling your business, and if you decide to sell, can assist you throughout the process. Factors to Consider If you are thinking about selling your business, there are several factors that you should consider. Those factors include the following: Whether you currently have a viable business model in…
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Naming Your Company: Tips for Entrepreneurs

Naming Your Company: Tips for Entrepreneurs

Business Law
While it is important to choose the right business entity for your startup and ensure you are in compliance with all relevant laws, it is also just as important to select the right name for your enterprise. The wrong name may not get noticed or, worse, may even unintentionally offend people. You also want to avoid any intellectual property issues with existing companies. The following are only a few tips for naming your new company: Conduct searches for the same name with your state’s Secretary of State, the U.S. Patent and Trademark Office (USPTO), and the internet Avoid names that are difficult to pronounce or spell Do not choose a name that limits your company to only one product or service, as you might want to expand your offerings when…
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Business Law FAQ

Business Law FAQ

Business Law
While every company will face legal issues at some point, it can be difficult to know when to call a business attorney. The following are some of the more common questions company owners ask, but to discuss your particular questions and concerns, you should never hesitate to directly contact a business lawyer in Houston. What types of companies do you assist? While every law firm is different, attorney Tim Sutherland helps companies of all types and sizes. Whether you are a brand new startup or an established business in your market, you can always benefit from trusted legal assistance. Sutherland also helps businesses facing particularly complex compliance issues, including the restaurant, bar, and hospitality industries. What legal issues does a business lawyer handle? The right business attorney should be able…
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Legal Issues for Restaurant Operators

Legal Issues for Restaurant Operators

Business Law
Houston has a great food and entertainment scene, with new restaurants, bars, and cafes opening on a regular basis. The hospitality business can be lucrative, and you may have long dreamed of opening your own place. There are many legal considerations for prospective or new restaurant owners, so you should consult with a knowledgeable Houston business lawyer  for help ensuring a successful opening. Health and Safety Healthy and safety standards are imperative when it comes to any establishment serving food and beverages. You must comply with all regulations and pass health inspections to begin operations. Licenses and Permits Many local and state laws require a variety of licenses and permits, which may include a general business license, an alcohol beverage license, a food service establishment permit, a food safety permit,…
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