What is a shareholder derivative action?
Ohio businesses of all sizes, whether they are corporations or limited liability companies, are prone to different types of shareholder disputes. After all, those who own shares in a corporation or LLC have the right to expect that the company’s leadership will act in...
Akron to support entrepreneurs with new program
The city of Akron, Ohio, has launched a new program with a two-fold purpose. In an effort to both support small businesses and fill its own empty storefronts in the city's retail district, it has launched the “Rubber City Match” program. Aimed at properties in Akron’s...
Some legal documents can multi-task as succession plans
Unlike the drafting of a simple will, creating a business succession plan is not just a matter of putting together a single document or even a handful of papers. Rather, business succession involves a lot of careful thought, because the overall plan has to cover a lot...
Family businesses need a solid plan in order to last
Although the backbone of Ohio’s economy is arguably small, family-held businesses, the statistics show that relatively few family businesses successfully make the transition to the next generation of owners. For instance, fewer than 1 out of every 3 family businesses...
Mechanic’s liens can be a real estate headache
Like other states, Ohio construction contractors and subcontractors have the right to file a mechanic’s lien on property they have worked on if they have not been paid for their work. The right to file a mechanic’s lien applies to both residential and commercial...
What are my options if I have a zoning issue?
Many commercial investors and developers who are interested in the Cleveland area may suddenly find their project in danger of being derailed before it even gets off the ground. For instance, a project may stall when the developer discovers that the prime location for...
Four questions to ask yourself before a buyout
When you have a small business, you hope to have it grow and be successful. But eventually, you may reach the point where you can’t expand anymore without running into your competitor. If you want to increase the success of your business, buying out your competitor...
5 tips for negotiating a commercial lease
If you own your own business, your dream is to have it succeed and grow. Perhaps what started as a side hustle for you, like your own technology consulting firm, now is ready to become a full-fledged effort, with more employees and a space to operate from. Before you...
Considerations in choosing a business successor
As an Ohio business owner, you have probably grown accustomed to your company playing a massive role in your day-to-day life. One day, however, you will undoubtedly want to step away from that business, whether to retire, spend more time with family or what have you....