Cleveland Business & Commercial Law Blog

As a business owner or C-suite leader, you probably have different concerns than the average person when planning your estate. For example, you probably hold assets throughout Ohio, the USA and internationally. In fact, the complexity of even the simpler business ownership structures, such as sole proprietorships, may require a unique strategy.

At Dinn, Hochman & Potter, LLC, our goals are the same as yours: to transfer your assets in the most efficient way possible. What that would look like would depend on your situation, but there are a few general ideas involved in the management of most complex estates. Please read on for a summary of a few key points.

At Dinn, Hochman & Potter, LLC, we believe that businesses in Ohio and across the country deserve quality legal representation and advice. However, we realize that not every business has the resources or inclination to employ a dedicated legal staff. In the rapidly changing environment of how businesses access legal services, our goal is to provide stable, personalized and efficient services to our clients when they need it most.

We work towards our goals in many ways, such as by providing custom tailored fee structures. We also a full battery of corporate law, litigation and business continuity services two individuals and organizations alike. Please continue to learn more about these services.

When you own a business in Ohio, you naturally must handle differences from time to time. Whether the conflict is internal or external, unfortunately sometimes disagreements cannot be immediately settled. Litigation can resolve this conflict but can also become protracted and expensive. We here at Dinn, Hochman & Potter, LLC, have helped many clients resolve disputes using alternative methods to the courtroom.

According to Forbes, it is becoming more and more common for people to turn to dispute resolution instead of engaging in prolonged litigation. One reason is clearly for economic purposes, since a lengthy trial can exact a great financial toll on a business. A second motivation behind avoiding the courtroom is to maintain control over the course of action rather than turning it over to a judge. In doing so, the process may be less adversarial and might therefore salvage relationships. 

As an entrepreneur, you know firsthand the challenges of owning and operating a business in Ohio. One of the things that you may have learned is how important it is to network and form strong relationships with like-minded individuals who can mentor you and help you build the competencies that are critical to your organization's performance. Investors can provide invaluable support as you work relentlessly to build your company. Establishing long-term relationships is crucial to your ability to maintain their interest and contribution. 

Understanding how to develop and maintain a mutually beneficial relationship between you and your investors is certainly a process, but one that you can be confident in pursuing when you implement some strategies from the start. According to Inc.com, it is imperative that you actively and fairly contribute to the relationships you wish to grow. If you are not putting in the work, but are expecting successful results, you risk the chances of losing that relationship altogether. As such, put in the dedication you hope to yield. And in turn, if you are not seeing your efforts reciprocated, it may be time for you to move on.