Corporate and Business Law

On that point are a lot of aspects of business that need to be processed with legality. Corporate transactions should always follow sound processes to avoid conflicts between and among individuals involved – finances, contracts, real estates, etc. That said, corporate lawyers therefore play an important role and this is the understanding why business entities, not just seek advice from business lawyers outside, but they hire them as permanent members and function as part of their legal counsel. Business lawyers work to settle various corporate matters, including the following:

Compensation issues – a corporate lawyer can settle compensation-related issues between employer and employees; he sees to it that a business entity does not violate the law governing compensation/benefits for its employees and at the same time he also ensures that these benefits are not abused, which can be ‘fatal’ to the business itself when not addressed appropriately.

Business formation – starting jobss involves many legal processes, including securinbusiness permitsit, leasing and other real estate contract, establishing a concrete company policy, etc.
– A corporate lawyer can help so that all of these are on the right path.

Shareholder agreement – also known as stockholders’ agreement (in the US), this needs to be managed by a lawyer who is expert in corporate and business law as this involves complexities of legality and finances. Other issues settled by corporate lawyers are dispute resolution by arbitration, constitutional documents, mechanism for removing minority shareholders, etc.

Corporate financing – thirequireses dealing with monetary decisions, analysis of corporate acquisition, financial operation of a company that includes raising money for a variety of projects or business ventures.
As complex as it is, a corporate lawyer can act as an important role to take part of all the legalities involved in all of financial transactions a business undertakes.

Regulatory compliance – a corporate lawyer can also take parinor the fulfillment of business compliance in accordance to the prevailinconventionses and regulations mandated by law.
This helps a company performs its business without any conflict with the existing policies established by the government, which could cause some problems in the future such as criminal or civil penalties – when the governing policies are not fulfilled.

Commercial litigation – this is perhaps one of the biggest responsibilities that a corporate lawyer can have on his shoulder; this involves settling legal controversies and business issues. Some of issues handled by a corporate lawyer under commercial litigation are breaches of contract, class actions, employment disputes, business dissolution, breach of fiduciary duty, debt collection – among others.

The 4 Players of Money and Business

At that place is about $7.5 trillion circulating in the American economy alone. So what is the real problem? Why can’t you make all the money you want in life? Well, perhaps it’s because you don’t understand the players and the financial tools they use for making money. Either you simply don’t know how to become a particular player or you don’t know how to use the proper financial tools for accumulating wealth. The four players of money and business are employees or “Workers”, self-employed or “Hustlers”, business owners or “Ballers” and, investors or “Capitalists.” The financial tools each of them use to make money are job employment for the worker, self-employment for the hustler, business system for the Baller and capital for the Capitalist.

Employees or “Workers”:

The majority of America’s labor force are “workers” who sell their labor for wages or salaries. Those in this category, roughly 140 million use what is called a job to make money or earned income. A job is simply an agreement between you and an employer to perform a specific task on certain days for a fixed salary or wage and sometimes additional benefits like discounted health care, paid vacation and sick time.

Most workers think they have job security, but just ask the 80,000 people who were laid-off in 2007 due to the sub-prime mortgage melt-down. Those people just received a free lesson in job security 101: THERE IS NONE. If a company’s business model or means of making a profit no longer works, then they will change it and that change often involves reducing labor cost or lay-offs. On average, employees or workers generally make about $35,000 (before taxes) a year and have a net worth less than $25,000.The question is why are so many people using this financial tool to make money? If asked many workers will likely respond: financial stability, discounted health benefits, paid vacation, and sick time.

Besides the benefits listed above, the only stability or security is your paycheck not your job itself. And if you have no job then you have no paycheck. Now lets discuss this paycheck. When you work for an employer, you agreed to perform specific tasks for a FIXED wage or salary. This means that your employer has a large amount of leverage over you.

I remember when I worked in Corporate America I was involved with an accounting team who saved the company hundreds of thousands of dollars in cost. What did we get? A free lunch, and a pat on the back from our boss and the vice president of the company. I thought to myself, we should receive at least a small percentage of the savings. My co-workers thought I was insane for wanting to ask, but you see, I was young, ambitious and fresh out of college. Besides, my employer had no legal obligation to compensate me for the savings simply because I had agreed to do all that extra work for my fixed salary.

Employers expect you to perform at 100%. Well, I was performing all my normal analytical and data entry tasks, however I put in longer than normal hours and took work home to generate those savings, so therefore I concluded I exceeded my 100% work capacity and should be compensated accordingly. Instead, I got a positive review on my job performance evaluation for that area. Wow! Now I can take that $35,000 (before taxes) salary, merit increase and performance bonus and buy my dream house right? Keep dreaming.

A simple wealth formula is to increase income and decrease expenses. However, who wants to decrease their standard of living from $35,000 (before taxes)? That means living in the projects or some drug-infested crime area where my life may be at risk. The only other option is to increase income. But wait, remember you agreed to a fixed salary or wage to get that job and unless you decide to get a degree (if they pay for it of course), you are stuck under your supervisor and the only raise you will receive is that 3% yearly merit increase. Let’s just hope you are that lucky and your company has the funds to include merit increases in the annual budget for that year. Sound hopeless? Maybe you should consider becoming a different kind of player in the game of Capitalism, perhaps a self-employed “hustler?”

Self-Employed or “Hustlers”:

The self-employed “hustlers” are the 10.5 million unincorporated business professionals who sell products or services to make money. These are your doctors, convenient-store owners, lawyers, Mary-Kay salespersons, accountants, and farmers. “Hustlers” generally earn about $50,000 (before taxes) and have a net worth of $25,000 to $500,000. However, the IRS reported that about half of them under-report their real income to minimize paying taxes, therefore that $50,000 earnings estimate is understated. The IRS revealed in February 2007 that self employed “hustlers” underreported about $150 billion worth of income.

Self-employed “hustlers” don’t have to worry about job security because they create it for themselves. If one business is not profitable they simply start another business. The main advantages of being a hustler is increased income capacity, you become the boss, pay less in taxes and acquire valuable business development skills. The hustlers sell products or services so their income is based on how many products they sell or services they provide to customers.

For example, assume you start selling Sean John jeans directly from your car and make a $10 profit off each pair. If you sell 12 pairs of jeans a day you have made $120, which amounts to $15 per hour. Unlike a regular employee or the “worker”, a “hustler” can increase their wage of $15 per hour to $25 per hour, simply by finding a way to sell only 8 more pairs of Sean John jeans. You could go from making $2,400 per month to making $4,000 per month (assuming a five day workweek). Now that’s a hustle! The more products sold, the more money made and since hustlers are the boss no one can tell them otherwise. The only catch is that you must physically go out everyday to see enough people to sell those Sean John jeans, but you can only work so many hours in a day.

So in conclusion, if you are a self-employed “hustler” you can increase your income up to the point where you just can’t or it doesn’t make sense to work anymore. That’s why you hear about the horrors of being self-employed, the long 60 hour work weeks, and the 9 out of 10 businesses fail lecture. Regardless, as a self-employed “hustler” you can make money doing something you enjoy, without having to answer to a moody supervisor and develop the business skills to graduate to the next level of business owner or “baller.”

Business owners or “Ballers”:

The Business owner, or “ballers” are about 6.5 million strong and unlike the self-employed “hustlers” they are true business owners. The ballers don’t have to participate directly in the operation of the business because they actually own the business system that provides jobs to the employees or “workers.”

“Ballers” own the apartment complexes, the McDonalds restaurants, and the car dealerships. They reportedly make about $75,000 (before taxes), but like the self-employed “hustlers” limit their earned income to minimize paying taxes. “Ballers” protect most of their money by purchasing assets like corporate stocks and real estate. They generally have a net worth of $500,000 to $1,000,000. The advantages of being a “baller” are no active participation in running the business, unlimited income potential, and leverage.

Most “ballers” were self-employed “hustlers” who developed their businesses into systems by hiring employees or “workers” to sell products or services for them. For example, remember those Sean John jeans we were selling? Once you realize that it has become to difficult to sell to everyone by yourself you simply train someone to do what you do by employing them to sell jeans for you. And as profits increase, you can then employ someone else in another city, then another state and on and on. This is called leverage, when you use someone else’s time, money or efforts to benefit you. As you can see the income potential is unlimited.

If you had three people each selling 20 pairs of Sean Johns a day and decided to pay them half the profits of $5 for each pair of jeans they sold, you would make $6,000 per month, about $72,000 per year. As a “baller”, your main job is to write checks, collect checks and make executive decisions as needed. Does it get any better than this? Yes, the successful “baller” has the opportunity to become the ultimate business player, the “Capitalist.”

Investors or “Capitalists”:

The investor or “Capitalist” is the ultimate business player and has proved to be so proficient in the art of making money and running businesses that they no longer need to work for a living. They are called capitalists because they use excess money or capital to make more money The 9 million “capitalists” put money to work by investing in securities like stocks and bonds of corporations. However, they could simply park their capital in a bank and receive interest income to pay for their living expenses. The capitalist’s earned income is only about $200,000 a year, but their net worth is $1,000,000 or more.

The capitalist does not want a higher salary like a regular employee or “worker” because they will have to pay higher taxes. The government, through the IRS and all employers automatically collects taxes from “workers” paychecks. However, the IRS allows entrepreneurs like the “hustlers”, “ballers” and “capitalists” to pay the government last after paying all of their other business expenses.

Present Your Self and Business Powerfully

Take no further if you are not trying to promote your business. Read no more if you are not seeking financial funding or business contracts. Skip this article if you do not need to present your ideas, business plans, or political views to others effectively and purposefully. Do not waste another second of your time reading more if you have no need to convey with others or make presentations of any kind.

Now that I have your attention-which ipreciselyly what you need to do get someone to listen to you, read your words or see what you have to show them-you are probably open to some concrete tips from the workshops I present on how you can come across to others more powerfully.

When yoprepareke a presentation-whether to one person when you attend networking events or to 100 people when you make a formal presentation-project competence and authority, regardless of your position, to move ahead in your career or move your business to the next level.
First impressions are crucial. Often, the first impression you make is when you shake someone’s hand in salutation. Your handshake communicates critical information. A firm, dry, warm handshake conveys power and confidence regardless of gender. Women, however, need to be especially conscious about and proficient with The Handshake as the process and technique is not taught to us at an early age.

Dad taught me to stand up straight and look ‘em in the eyes. A surprising number of professionals I meet slouch or do not maintain eye contact when we speak. The fine business suit and well-groomed body make a good initial impression. But erect posture and direct eye contact make a long-lasting impression that speaks confidence and assertiveness. Try maintaining eye contact with any one person for at least five seconds whether you are on stage or you are involved in a one-on-one presentation at a networking event.

Meetings typically involve food and drink of some sort. Arrange your food and drink so that your right hand is free for shaking hands and passing out business cards. Wear your nametag on your right, just below your shoulder and high above your breast line. When you reach out to shake hands the other person sees your name clearly and you do not feel that they are staring at anything at which they should not be staring. Carry small breath mints. Discretely place one in your mouth after you finish a formal presentation in case you have to meet with individuals immediately after your presentation. Put together and practice a 30-second “elevator speech” that explains who you are, what you do, and how to contact you. An elevator speech is a presentation you can complete in the time it takes to ride an elevator with a person with whom you want to conduct business. The words you use are important to the impression you make. Use power words like “can” and “do” and “will”. Avoid ending sentences with question marks and saying, “I’m new”, “maybe, and “I think”.

These techniques convey similar messages whether you are networking or making a formal presentation. When you think you do not have time or cannot afford to practice or improve your communication and presentation skills, ask yourself if you can afford not to grow your business or your career. While interpersonal skills seem secondary to financial and business skills, the intangible messages you communicate have very tangible effects on your bottom line if you do not convey them with confidence and proficiency.

Sylvia Henderson runs a business called Springboard Training. She helps people show they are as great as they say they are. She facilitates workshops and conference general sessions, keynotes, develops educational tools, and authors books and program-related articles. Sylvia integrates principles of adult learning into her programs by actively engaging audiences in the learning process, using toys and props to generate interest and emphasize points. She weaves her avocation as a motorcyclist into analogies and metaphors that tie into messages targeting your needs.

Sylvia’s real-world experiences include 20+ years as a corporate trainer, team leader and manager practicing the leadership, communication and motivational skills she now presents in her programs. She serves on nonprofit Boards of Directors and is Past-President of both a national and professional non-profit associations.

The Wrong Life Insurance Could Hurt Your Family

The importance of life insurance cannot beexaggeratedd. Any breadwinner, or person that provides a significant amount of work in the home, needs to have life insurance. Purchasing a policy can be overwhelming, not only because of all the different options, but also because it is a sensitive subject. Read the following tips for advice on how to handle this important decision.

Wheselectingng a life insurance policy, it is important that you assess your and your family’s financial needs.
Separate what you think you know from what the insurance salesman is telling you. You understand your place better than any salesperson, which means you know how much coverage you require.

Whebuyingng life insurance, you will want to weight the company you choose very carefully.
Since it is not likely that you will require to use their services for many years, you will want to make sure that they will be around when it’s needed. A strong reputable company who has been in the business for a long time is the safest choice.

If you are between the ages of 20 to 50, term life insurance is the simplest and most effective type of insurance. Cash value insurance truly makes sense for those who are wealthy and over the age of 50. A cash value plan may be tempting, but it won’t be as effective.

Once you have determined you need life insurance, next you need to figure out how much you need. There are several online calculators you can use, and some other formulas an insurance agent can help you with. If you want a ballpark figure quickly, take your salary and multiply it by 8. This will give you an estimate of how much life insurance you need.

By improving your health, you will be able to get lower premiums for your life insurance. Very often, healthier people are offered better deals by insurers because their life expectancy is higher.

When purchasing a life insurance policy, it is generally better to go to an independent broker rather than an insurance firm. Independent brokers genuinely offer you products wide in range, as opposed to a products that are specific to a firm. Life insurance policies are a commitment that should not be taken lightly, so consider your options before plunging into a contract.

It is important to make the right decision for your situation when purchasing life insurance. Since people have different needs, there are many different policies available. The tips in this article will help you decide what is best for you so you can make the right decision on your purchase of life insurance.