Dinn, Hochman & Potter, L.L.C.
TF: 800-233-4079
L: 440-681-8005

February 2015 Archives

Determining co-founder equity in startups

Arriving at a fair equity split for co-founders of a startup company in Ohio can be difficult, but considering different factors could help. Perhaps the most important factor is what positions the partners are going to fill in the new company. A CEO has more responsibilities than a consultant or other non-key executives, so that person should have a greater equity interest in the company.

The purpose of business liability insurance

Entrepreneurs and business owners in Ohio might benefit from understanding more about the liability insurance available for many small businesses. Depending on what assets the business owns, conducting an operation without liability insurance may be quite risky. Sole proprietorships with personal items tied to the enterprise may be at a greater risk since assets like vehicles and homes can be confiscated through civil action. Even though incorporated businesses are less exposed to this risk, their assets may still be targeted in a lawsuit.

How to open a new business in Ohio

Starting a new business can be a unique and exciting challenge. However, there are a few steps that all companies will go through as they get ready to start doing business. First, a company will generally want to create a business plan as this will help guide the decision making process of the company moving forward. It will also serve as a guide that can help investors determine if they want to provide financing for the company.

Enforcing an Ohio contract

In its most basic form, a contract is an agreement by two or more parties that is binding on all parties. In some cases, a party may agree to do something that it otherwise would not be obligated to do. In other cases, a party may not do something that it is otherwise entitled to do. Regardless of what the contract states, it is not valid if one or more parties to the contract are ruled incompetent.

Office Location

Dinn, Hochman & Potter, L.L.C.
5910 Landerbrook Drive, Suite 200
Cleveland, OH 44124
-6500

Local: 440-681-8005
Toll Free: 800-233-4079
Fax: 440-446-1240

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