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North Canton, Ohio legal blog

What do angel investors want?

Finding capital for a start-up business can be a challenge, which is why some Ohio entrepreneurs accept the help of an angel investor. The capital angel investors provide can help business owners purchase the needed inventory and assets to get their business going, but in some cases an angel investor might burden the business owner with demands that the owner might not have bargained for. So before you take on an angel investor, it is crucial to consider what an angel investor might ask of you.

According to Chron.com, what an angel investor will ask for in return for investing in your business is going to vary. Some angels are willing to make a major leap of faith, providing funding without asking for any collateral. Since some business owners may not have any assets to start with, this can be a welcome development. However, there are some angels that insist on securing their investment with collateral, such as your company building or your inventory.

Are land use and zoning laws really necessary?

If you have ever tried to build a home in Ohio, you probably already know how much of a headache this can be. Local governments insist that zoning laws and building codes help to protect consumers from unsafe residences. Some regulations, however, have little to do with safety and more to do with preserving property values.

This includes high minimum square foot requirements and other rules that put building a home out of reach for so many homeowning hopefuls. Forbes sums this up well by pointing out that these laws put a cap on how many new homes are built, further assisting with driving up the cost of existing homes.

Estate taxes can be avoided

As one enters into the process of estate planning in North Canton, they might be under the assumption that whatever amount of assets they have to pass on to their heirs will automatically be limited by an estate tax liability. It may be easy to assume that taxes will come into play during the estate administration process; there are typically tax considerations with any significant transfer of funds or property. Yet estate taxes may be something that too many dedicate too much concern to. 

Why? According to information shared by the Internal Revenue Service, it is projected that only 31,700 estate tax returns will be filed in 2019. That represents just over one percent of the 252,864,700 that it is projected to receive. One might think that given that is roughly in line with the estimated mortality rate in the U.S., that sounds about right. Yet many of those returns are not filed for the purpose of paying estate taxes. Rather, they are being submitted by surviving spouses electing portability. 

Work accidents, from an employer’s point of view

When a worker is involved in an accident on the job, it can disrupt their life in different ways (taking time off, pain, immobility, mental trauma and so on). However, these accidents can also be damaging for business owners. For example, a business may lose one of their key employees, either temporarily or permanently. In some instances, an injured worker may even decide to take legal action following an accident. Sometimes, these lawsuits may involve exaggeration or certain details that have been misconstrued, and the consequences can be incredibly damaging for a business of any size.

It is, of course, absolutely essential for business owners to do everything they can to prevent workplace accidents. Training should be a top priority and whenever a mishap takes place, the incident should be reviewed thoroughly and any necessary measures to prevent similar accidents from occurring in the future should be taken. Regrettably, even when everything is done to prevent an accident on the job, a worker may be hurt or even killed when something unexpected happens.

3 legal issues new businesses face

After years of hard work and planning, it is finally time to follow your dream: to open your own business in North Canton. Unfortunately, starting your own company is not as simple as hanging an "open" sign on the door. Not only should you have a business plan, but you will also have to tackle various legal hurdles.

There are several legal issues that many entrepreneurs face when they open their first business: for example, filing for a federal identification number, registering the business with the state, and creating an ownership agreement and articles of incorporation. Here are three of the most common legal issues that many new businesses face.

How to navigate your first business lawsuit

At Baker Dublikar Beck Wiley & Mathews, we understand that your first business lawsuit in Ohio may be terrifying. You may have a lot of questions about what to do and how best to handle the situation to arrive at the most favorable outcome.

Each scenario is different, so there is no universal advice to ensure the best results for you and your business. However, Forbes has a few recommendations for how business owners can handle these situations. Here are a few of them below.

How do I know it is over with my business partner?

Businesses in Ohio fear litigation and with good reason. Business litigation can be expensive even when you win. From the time spent in court rooms to legal fees, it all adds up. However, what many businessowners do not see coming is the possibility of being sued by their own business partner.

There are a number of reasons your business partner may choose to sue you. A common reason stems from business disputes you fail to resolve together. In these instances, seeking a peaceful resolution and making a timely exit before the relationship goes from soured to rotten is key. Here are a few signs to watch out for.

How disabled people in Ohio can sign wills

Ohio residents who suffer from physical disabilities have the same rights to prepare an estate plan just like anyone else. Provided that a person is of sound mind and is not being taken advantage of, a disabled person can create a last will and testament that is as legally enforceable as any other will. This is because Ohio law offers other means to certify a will other than affixing a personal signature to it.

The challenge some people with disabilities face is being able to sign papers. Whether by disease, ailment or amputation, there are some individuals who lack the ability to make a legible signature. In such cases, Ohio law provides a different way for people to authenticate a will. Instead of the testor signing the will, another person is permitted to sign the will at the direction of the testor.

Articulating an organizational vision in a business plan

For many up and coming businesses, identifying company goals and a vision for the future is one of the first steps they take in their creation. However, failing to document and preserve these thoughts may cause organizational leaders to lose sight of their original goals and could also contribute to discord within the business. Once companies in Ohio begin to realize their overall vision, they should articulate these thoughts in a well-written business plan. 

Implementing a business plan from the start of a new venture can provide organizational leaders with many advantages including the ability to better express their vision and goals to investors and the ability to recognize and manage challenges before they pose a risk to the company's well-being. There are several different aspects of a business plan and each is imperative to providing valuable details that can be used in the development of the organization as a whole. 

When a new stepparent exerts undue influence on a last will

Blended families are quite common. Both because of divorce and death, many families find themselves growing through the addition of stepparents and stepsiblings. These new members to your family can be a great source of joy in many cases. Unfortunately, they can also lead to significant conflict.

Children may have concerns about the intentions of a stepparent or new romantic partner, particularly if there is a significant gap in age or personal wealth between the two parties. A younger individual interested in an older, much wealthier, adult could have financial motives for the relationship.

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