The responsibilities of running a business can often be eased with a business partner. Many people find their businesses are more successful because they’re working alongside someone competent at what they do. Furthermore, a business may profit more because of a...
Most business partnerships start off on a positive note. The partners are often excited about the prospects that the partnership is about to bring. But business partnerships and romantic partnerships have something in common: when the honeymoon phase is eventually...
On Jan. 5, 2023, the Federal Trade Commission (FTC) proposed a new federal rule that would ban noncompete agreements across the country. Currently, each state has its own laws governing covenants not to compete and this legislation varies widely among the states....
If you’re certain the other party is in breach, or if they have made clear they plan to breach the contract, you have several options. The first one is to try to work something out on your own. There is often an accommodation that can be made by one side or the other...
Don’t let the cart get before the horse, and don’t sell your invention before you have filed a patent application. Inventors, entrepreneurs and businesses are understandably eager to secure licensing or sales arrangements for their newly invented processes,...
Haymaker Development Company, LLC, of Lexington and its owner Timothy Haymaker and businessman and philanthropist Bill Gatton and the C.M. Gatton Trust have a history of cooperative work on significant Hamburg-area commercial and residential real estate developments....
In part 1 of this post, we talked about the importance of business succession planning. Specifically, part of establishing your business should include serious consideration of a plan for how to handle owner divorce, exit or death. What would be the ideal outcome for...
In the excitement and busyness of starting a new Kentucky business, do not forget that it will eventually wind down, be sold or morph in some other way. Ownership interests in partnerships, corporations and LLCs can change over time, but if you do not put into place...
Owning a small business comes with considerable demand. The tumultuous 2020 has redefined the small business landscape in fundamental ways, demanding that entrepreneurs manage new risks and adapt to a changing world. Clever entrepreneurs look for creative ways to save...
