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When the ownership of a business changes hands, it can be a dream come true for both the buyer and the seller. Founding and cultivating a business to the point where someone wants to buy it is a mark of successful entrepreneurship. After the sale, the sellers can establish a […]

Operating a business successfully always requires a certain amount of record keeping, even if it is a small business run by someone with a very good memory. At the very least, you need to keep accounting records to show to your tax accountant. If your business is large enough to […]

Contracts protect you in the event of a lawsuit, since they are the best evidence of the terms to which two parties agreed before getting into a dispute. A lesser-known but equally important advantage of contracts is that they can stop lawsuits from happening in the first place. It is […]

The phrase “gig economy” sounds thrilling, unless you have actual financial responsibilities.  What is not to love about turning your talents and determination into financial gain and not having to answer to a boss?  Of course, making your living through freelance gigs means no job stability and no employer-sponsored retirement […]

Consumer debt is so prevalent in American society that most people just accept it as a fact of life. You make monthly payments on home mortgages, student loans, car loans, and credit card debt and look forward to the day when you can finally pay off one of the debts. […]

People have always told you that you have a great mind for business, but what do they mean by that? Do they mean that you carefully weigh risks and opportunity costs before you decide to commit money for a project? Do they mean that you are unusually observant about people’s […]

As a small business owner, you have probably developed a number of time-saving strategies.  Using standard forms of documents, such as invoice templates and form letters, has probably allowed your business to accomplish a lot in a limited amount of time. Contracts, however, are too important to assign to a […]

The nature of business is changing rapidly in the United States. While owning one’s own business or being one’s own boss may still be a big part of the American dream, businesses take many forms. A recent article by Rachel Paige King describes how career advice books released over the […]

There is a whole industry of offering services to small businesses. If you do an online search for almost any question related to your business, you will find advertisements for products and services marketed to small business owners. From accounting software to productivity apps to executive life coaching, it is […]

The first decision you have to make when you establish a business, whether in North Dakota or in any other state, is to choose a business structure. When you read the definitions of the business structures, it seems simple, but each business structure has its own fairly complex set of […]

The North Dakota Supreme Court recently issued an opinion that clarifies the rules for contractors about when they need to obtain a contractor’s license and the risks they face if they are not properly licensed. Importantly, the decision makes clear that a contractor is not entitled to recover for services […]