Find Legal Information

What is Self Employment?Self employment refers to working for one’s self; a self-employed person works for him or herself instead of an employer. A self-employed individual’s income is attained through trade or business that the person operates personally. The business of a self-employed person is personalized; the business is the individual’s primary source of income.The..

Shareholder’s equity, as a whole, refers to the overall equity available to the shareholders of a particular company or corporation. Shareholder’s equity is thus equal to the total assets of the company less the total liabilities of the company, as the company's creditors and liabilities will always have first claim to the assets and property of that company.Shareholder’s..

A short sale is a real estate transaction where the proceeds from selling a home fall short of the outstanding debts secured by liens against the property. A short sale is undertaken by an investor and a homeowner who cannot meet their mortgage requirement. The investor purchases the home below the mortgage amount (at a discount) and assumes ownership of the house. In turn, the..

Creating a Small Business PlanThe U.S. Small Business Administration provides helpful information for individuals who need to figure out a small business plan. One of the most helpful things they have created is the business plan template.Helpful Pointers before StartingThe first thing to do with figuring out a small business plan is making sure to understand the purpose of the..

There are a number of reasons to choose either a sole proprietorship or LLC not the least of which is distinctions in terms of taxation.  Your decision in the matter is not final as a Sole Proprietorship can eventually become an LLC.Sole Proprietorship A sole proprietorship is a simple arrangement where the individual and business are one.  The owner is responsib..

Financial planning is the process of developing a financial plan. A financial plan may take many forms. It may include the establishment of a strict budget or allocate certain funds to meet certain financial responsibilities. It may also address techniques for acquiring additional funds or securing a second income.Financial planning is essential for an individual to ensure that..

Business laws and regulations regarding corporations and the economic sector are very extensive. Each state is responsible for establishing and enforcing business laws in that state. As a result, it is important that there is an organization or state government entity dedicated to enforcing business laws in each state.A state trading corporation is a corporation or organization..

A strategic partnership is a particular kind of partnership which is the result of business contracts, but which does not have the full force of a business partnership agreement behind it. In other words, a strategic partnership is a mutually beneficial relationship in which the two companies involved may help each other out in some fashion, but will remain separate and without..

The Sunshine Act is a form of public accountability imposed on the Government by the Government in efforts to create greater transparency. The goal of the Sunshine Act and subsequent Sunshine laws is to create a more open government than before. It means that after a certain period of time, depending on the legislation, the minutes of a committee meeting are to be released to t..

There are three main types of checks, as defined by the Uniform Commercial Code. The first is order checks, which are the basic form of checks with which most citizens of the United States are familiar. In an order check, the drawer orders that a certain amount of money be made payable specifically to a single payee, or endorsee.The second type of check of significance is a bea..

The Australian business directory is an important resource to those who live and work within Australia, as well as those who are outside of the nation looking to establish working relationships between companies and those looking to travel within the nation. Australia’s business community understands that there is a need for accessibility between the nation and the rest of th..

Beginning, maintaining, and developing a business is an extremely expensive undertaking. When an individual decides that he/she wants to create his/her own business, he/she will require money to handle start-up expenses. There are a variety of different start-up expenses that an individual may need to address, including obtaining any necessary materials, acquiring a wor..

A money market account is a financial instrument that is typically offered by a bank. Money markets are very conservative investments that guarantee a small rate of return. These financial investments do not possess any risk of a capital loss and are viewed as some of the safest forms of investment securities.A money market account is a deposit account which invests in corporat..

Business Credit Card BackgroundWhen a business owner obtains a business credit card, he/she is granted a certain line of credit that he/she is permitted to use in order to create and maintain his/her business. There are many different types of business credit cards, and there are different terms and conditions attached to each type of card. Different cards are appropriate for d..

“Business associates” is an overarching term that refers to anyone within a business that is hired for a specific purpose. Simply speaking, a business associate is one of the employees of the company. In general, businesses require a number of different positions to be filled in order to keep all aspects of the business moving. Business employment is a key factor for s..