Business Contracts Lawyers for Westminster, Colorado

Does it perhaps refer to UARs as part of a benefits/retention package in lieu of stocks?

A business that hires an independent contractor should be careful not to confuse an independent contractor relationship with an employment relationship. Treating an independent contractor like an employee can result in the law ultimately determining that the contractor is actually a "misclassified" employee. In North Carolina, "performance metrics" typically apply to employees, not independent contractors. This is because the "independent" in "independent contractor" means that the hiring party does not "control" (manage, monitor, supervise, etc.) the contractor like it would an employee. The hiring party is entitled to hold the contractor accountable for the results that it hires the contractor to achieve. However, the independent contractor is entitled to determine the manner, means, and methods of achieving the desired results. With that all being said, it is important for the parties to an independent contractor relationship to have clear expectations. An independent contractor agreement should outline the essential terms and conditions of the engagement. These might include such terms as definitions of the deliverables, deadlines for the deliverables, remedies for the independent contractor's failure to produce the deliverables by the agreed-upon deadlines, and special considerations. A knowledgeable North Carolina attorney can advise on the legalities of the proposed terms and conditions of an independent contractor relationship that is to be governed by North Carolina law.

Forming a corporation in Ohio is a great way to establish your business with legal protection and a formal structure. While the process can seem complex, breaking it down into key steps can help ensure that you’re meeting all legal requirements. Here’s an overview of what’s involved: 1. Choose a Corporate Name Your corporation’s name must be unique and distinguishable from other registered businesses in Ohio. You can check name availability through the Ohio Secretary of State’s website and reserve a name if needed. 2. File Articles of Incorporation To officially form your corporation, you must file Articles of Incorporation with the Ohio Secretary of State. This document includes basic details such as your corporation’s name, purpose, number of shares, and statutory agent (a registered agent who will receive legal notices). 3. Appoint a Statutory Agent Every Ohio corporation must designate a statutory agent (also known as a registered agent) who will accept legal documents on behalf of the company. This can be an individual or a business entity authorized to operate in Ohio. 4. Obtain an Employer Identification Number (EIN) An EIN (also called a Tax ID) is required for tax purposes, hiring employees, and opening a business bank account. You can obtain one for free from the IRS website. 5. Create Corporate Bylaws While not legally required to file, corporate bylaws are an essential internal document that outlines your business’s governance structure, including how decisions will be made, the roles of directors and officers, and how shares will be managed. 6. Register for Ohio Business Taxes & Licenses Depending on your business activities, you may need to register for state taxes with the Ohio Department of Taxation, such as sales tax or employer withholding tax. Some industries may also require specific business licenses or permits. 7. Hold an Organizational Meeting At this initial meeting, the incorporators or initial directors should adopt the corporate bylaws, appoint officers, issue shares to shareholders, and document key decisions in meeting minutes. Generally this meeting is "held" by a document called a Written Consent. 8. Maintain Compliance Once your corporation is formed, you must stay compliant by: (i) Filing a Biennial Report with the Ohio Secretary of State every two years; (ii) Keeping proper financial records and holding annual shareholder and director meetings; and (iii) Maintaining corporate minutes and following proper procedures to preserve limited liability protections. Setting up your corporation properly from the start helps protect you from personal liability and ensures your business runs smoothly. If you’d like assistance with any of these steps—whether it’s filing documents, drafting bylaws, or structuring your corporation for legal protection—I’d be happy to help.

Speaking generally, a court could find that a business partnership exists even though verbal - the court would look at many factors, such as the length of the agreement, common/daily practices, etc. I suggest that you have a hear to heart talk with your partner, and discuss why he or wants to dissolve the arrangment. Ask if he or she would be willing to continue if some changes were made. Also ask if he or she would be willing to enter into a written agreement. If so, each of you should be represented by your own business contract attorney.

To answer your questions, someone is going to need to look at your contract. I can review your contract. The cost will vary depending on the size of the document. I will charge you 250 dollars to review a two-page contract, that will include a memorandum discussing various issues I discover, as well as any questions you raise. There will be an additional $25 per page, after that. Please feel free to contact me through Contracts Counsel, if you have any questions.