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Article by Manish Gaur

While considering Joint Venture you will need to draw up agreements and contracts to cover your grounds. The contracts are design to defend your personal interest in business joining. Lawyers will often bill hourly to construct contract and agreements for Joint Venture, thus you might pay 0 or more to have the contracts written professional. I’ve pointed this out, since when drawing up any legal papers, or business papers words make a difference as well as the language delivered. Continue below. Joint Venture Contracts and Agreements are arranged documents that join two or more parties in union with the target of developing a single product and/or projects. Thus, ‘partnership’ is commonly known, yet Joint Venture partners work under divided financial and business individuality. Accordingly, if you are writing your own contracts and/or agreements for Joint Venture it is important that the terms are defined correctly, otherwise you could land in a bad situation.

One of the better solutions for writing contracts and agreements from the preliminary to the finale, you may want to considering using online guides that will guide you through the process of writing the contracts and/or agreements. One of the free sites that offer Joint Venture contract samples is available online

Here you will find all the information you will need to write a Joint Venture contract and/or agreement. The problem is, the contract costs .95, yet it is approved by an attorney at law. Other areas online may offer free examples that could guide you in the right direction. If you need legal help and advice affordable, you may want to visit sites online that offer legal advice, e.g. they have services, including legal advice support.

I’ve been searching the World Wide Net to find you resources so that you can have the free samples to follow as a guide, but apparently few sites offer freebies. This brings me to the point of helping you with a contract that binds you with JV, yet protects you from legalities.

Online have contracts of all sorts. You will see where information is provided, including forms. The sites will produce working contracts and/or agreements in any area of business.

Note: if you have Microsoft Word 2000 or higher edition, click the Help menu and type in Contract. You will be linked to a wealth of tools that will guide you to writing free contracts and/or agreements.

Guide to Contracts in Joint Venture

While writing contracts related to Joint Venture, you will need to cover Fees, Liabilities, Exit, Termination, etc. You will need to cover all details in the contract from start to finish.

In other words, if you are writing the FEES, you will define clearly how much you expect, what you expect to produce in general for the company, excluding making promises you cannot keep, etc. If you cover liabilities, be sure to state clearly that you will not be liable for faulty products, especially if the company is offering the line of products.

You want to add limited liabilities to the extreme, especially since you are joining a company to profit the company. The Exit and Termination should be laid out in the business plan; however, you want to note the Exit and Termination within the contract and/or agreement as well. This will provide you room to leave the company in the event the agreement does not work out. For example, if the company is not holding up to their end of the bargain, you will need legal rights to leave the agreement.

For more information on contracts and agreements, you may want to visit your local library, or else research online. If you are not clear in writing the contract, it might be wise to ask an attorney to review the contract. Prepaid legal costs monthly and you will receive free legal help up a degree. Just a note to help you save money:

Article by actorschecklist.com

IMFF Cinedays M, taking place in Skopje through September 7, celebrates the past, present and future of the music and film. The Festival’s focus is on music-related content, including feature films, documentaries and short films submissions that have an emphasis on music – rock, jazz, blues, soul, reggae, punk, pop, reggae…. old and new. River View Players (et34888@aol.com; Wabisabimail@aol.com) based in Harlem open a new performance series on September that will present readings of plays (featuring DuEwa Frazier, Lit Noire Publishing), short stories, poetry, music and films every Sunday from 4 to 6 in the back room of Cafe Largo. Free food tastings will be offered from the Cafe on this occasion, and the event is free and open to the public. indieWIRE presents filmmaker Alan Ball and actress Summer Bishil in a discussion of their new film, ‘Towelhead,’ at the Apple Store, SoHo, September 8. “The Down-Low on Distribution” is a seminar on September 10 in Los Angeles attempting to decode the different distribution deals so that you can get the best rights in your agreement. New York Television Festival which has featured acclaimed independent pilots that were purchased by networks such as NBC Universal, A&E, and the like, will feature an “Industry Day” session in which industry leaders participate in a number of panel discussions, when it runs September 12-17.

At this year’s Boston Film Festival a program of shorts, documentaries and feature films premieres during the festival’s run from September 12-19, and evening receptions are hosted by regarded chefs and restaurateurs providing the ideal scene for filmmakers and talent to network as well as sponsors to entertain. The IBC 2008 Conference and Exhibition, September 12-28 in Amsterdam, addresses personalised content over the web; future broadcast businesses and the changing audience; the “digital dividend” and the battle for bandwidth; production and protection of all types of content, and other areas. At “Fund Your Film Workshop With Stu Pollard,” key elements of an independent film business plan, including structure, layout and research and a primer on private equity financing for truly independent projects, will be reviewed when the one-day session meets September 13 in Dallas. Independent Film Week, formerly know as the IFP Market, is still a gathering for industry professionals where pitch meetings search for new talent, and cash, product donations and services are awarded to participants. The Temecula Valley International Film & Music Festival’s social calendar starts with Opening Night Festivities on September 17, followed by daily and nightly filmmaker/musician receptions, industry workshops, a Lifetime and Career Achievement Awards Black Tie Gala, a Sunday morning Hot Air Balloon Ride, a Closing Night Wrap party (September 21) and Best of Fest special screening presentations and more. The NBC Universal Women Writers Workshop, September 18-25 in Toronto, will target intermediate women screenwriters who have a treatment or first draft, and will work toward the development of their next draft of a feature script. It will focus on script development and building on concepts introduced in the Feature Film Writing Program emerging module.

Screenwriting and the Business of Hollywood, will be conducted September 19 and 20 from Rock Island, by Act One Seminars, intensive, practical workshops for aspiring and professional writers and entrepreneurs who are serious about their Christian faith and who dream of creating culture that respects and enriches a global audience. SWAMP and TALA present the Business of Film Conference 2008, a September 20 event at Rice University Media Center focusing on the business of making movies with professionals from the film, legal and financial worlds that address a wide range of topics, including budgeting for film, funding resources, music rights, distribution and more. The Film, Stage and Showbiz Expo will allow participants to showcase their film/video/movie reel for Producers and Production Companies at a private screening area all day at the Expo, and Telsey + Company will conduct an open talent search for some of the hit Broadway shows they represent at the one-day event, September 21, in New York. In Gene Autry, Oklahoma, the Gene Autry Oklahoma Museum celebrates the legacy of the singing cowboys with its Film & Music Festival. It’s a gathering of cowboy and country singers, cowboy poets and storytellers, Western film stars and look-alikes, and it happens from September 24-28. The 17-day New York Film Festival gets underway September 26 in New York, with its program of emerging and international filmmakers. Black Entertainment Magazine in conjunction with Talents Connection, reachable at TalentsConnectionCasting@yahoo.com, hosts the September 27 Business, Arts & Entertainment Conference in Los Angeles, with slated workshop sessions on “Surviving Hollywood,” and “Getting your children in commercials,” and a premiere screening of soon to be released BEM film ‘True Riches’.

The above events are only a sample of what is fully listed. Complete details are on the “Media, Entertainment and Performing Arts Industry News and Events” page. Video and podcast versions of this news summary are also available at popular video sites around the Web like MySpace, YouTube, Bit Torrent, as well as on The Actor’s Checklist podcast blog, a great place to get your iPhone, ipod or Apple TV download from. The Free Home Video Showcase serves as an archive for all past video presentations. This month on video you will see trailers and sample clips of ‘True Riches’ a collaborative production of Talents Connection and BEM Films, slated for a premiere screening at the Business, Arts & Entertainment Conference, September 27 at LA Convention Center. Strange comedy from The Pimps Horror House? TV show Cleveland. The creative duo of H.G. Robert and Wayland Anderson, that form DANCEWORDZ, a production company that writes, choreographs and stages shows for professional companies and art programs. The Actor’s Checklist now lets you check the latest musical artists song releases on Apple’s iTunes, updated on an hourly basis, at: http://www.actorschecklist.com/resources/itunes.php

Article by Kathleen Chester

Once you have decided to start a new business, there are a number of do or die decisions staring at you in the face. Sometimes, finding the right starting point can itself feel a little overwhelming. This is particularly true in case of individuals who are interested in new business start-ups. Should you look for a location or a name for the company first? What are the cost estimates for forming your own company? How many employees should you recruit, if any? Is it necessary to pre-advertise your company? New business start up – encounters troubling questions like these at every turn.

Given below are a number of steps that you can follow to make your new business start-up a smooth and easy process.

Step 1: Get organized: Maintain files and folders with all information pertaining to your product, finance, organization and marketing. Maintain a separate folder that contains all bill receipts. Also, keep all governmental papers in a safe place so that you have your permits, licenses and papers related to tax in one place. If you believed that you will be hiring employees, maintain a folder for resumes and other information.

Step 2: Estimate intelligently:Once you have collected all pertinent data, it becomes relatively easy for you to do your due diligence. The information you have gathered will help you estimate the realistic size of your business. This gives you a rough idea of your market and of the revenue that your business will generate. At this step, it is important to verify that your revenue covers your business costs and brings you sufficient profits. Once this is verified, you can continue to the next step.

Step 3: Prepare a business planYour business plan is the blueprint of your company and its services. In it, you must include a statement of purpose. Chalk out a detailed business description and organizational setup in your business plan. Estimate of capital requirements, cost analysis and rough projections for the first two to three years will have to be carried out at this stage. At this stage you should be able to set down in clear terms what your business is all about. You would also be able to get some idea about the structure of your business, whether it should be a sore proprietorship, a partnership or a corporation. The preparation of a business plan is a vital step in new business start-up.

Step 4: Business formation:Collecting the above data would have given you a fair idea of how viable your business is. Once you truly decide to go ahead with your company formation then hand over the task of business start-up to someone with experience in business formation. This could be your attorney or accountant. However, if you are just starting out or if your personnel do not have the expertise to look after a new business start-up, then it is recommended that you make use of the services of business start-up companies. These companies are largely involved in the formation of offshore and onshore businesses. Thus they will be able to guide you through the legal procedures involved in forming your own business.

Following these steps will ensure that your new business start-up is a smooth, easy and hassle free process.

Article by James Copper

A small business is defined as the one in which number of employees are small. The initial investment required for the starting of small business is less. The output and profit earned by the business is also small. Usually, the expansion of such businesses is restricted due to its less profit earned and low marketing. Lack of business ideas and financing also hinders the growth of the small businesses

In order to help the small businesses grow and increase its potential, the business owner forms a group that aids each other in the business activities. Such a group is called a Small Business Club. A small business club is a non-profit organization. A small business club comprises of all the small business owners and may include some employees holding higher authority.

The purpose of the small business clubs is to provide each of its members with a platform where they can speak out the problems they are facing. The other members provide innovative solutions to their problems. The small business club also provides new business plans for better productivity. The small business clubs also provide funding for business owners who are in urgent need for money. Small business clubs also provide a stage for finding the right person for a joint partnership venture. Partnership helps in increasing the efficiency of working and is financially stronger than proprietary firms with a larger group of customers available.

Majority of the countries have small business clubs. Many of them are large business clubs, but have a separate or integrated forum for small business owners. The list of small business clubs are as follows

The Small Business Club

The Small business club is a UK based club. They have their city venues at Edinburgh, Glasgow and Napier. The regional venues of the small business club are at Central Scotland, Dundee, East Renfrewshire, and Fife, North and South Lanark shire and West Lothian. They organize pre decided meetings at the above mentioned venues from 12:00 noon to 2:00 PM with all the members. They provide entry for certain visitors in their meetings. The purpose of the meeting is to provide tips for business development and financial assistance. The members discuss and give advices on recruitment, insurance, staffing and legal matters.

Starting A Business Club

This is an online small business club. The objective is to provide business tips for business start up world wide, with advices from experts in the field. The forums in the site contain discussions regarding various issues in starting a small business. Blogs are added by experts giving tips on recruitment, loans and networking. Brainstorming activities are also present in this online small business club.

The Thames Gateway Business Club

This UK based club is supported by the Enterprise Agency of North Kent. This small business club is primarily established to provide advices regarding networking, development, advertising, computer technology etc for start up and established small businesses. The club prints a newsletter named The Gatepost with articles based on the above mentioned topics.

Article by indermohan singh

So you’re looking to start an E-bay Business, are you! With more than 430,000 people in the United States alone working full or part time on E-bay, it may be easier than you think to start an E-bay business.

If you feel E-bay is just for selling novelty items, or a low value trinket type outlet, you should look again. An E-bay business can sell anything from trinkets to antiques all the way to automobiles. Some of the most popular of the thousands of categories are automobiles and auto supplies, consumer electronics, computers, clothes and accessories, books, movies and music.

E-bay was started in 1995 and has become the world’s biggest online auction site, selling all kinds of products and services. There is about 1,000 dollars in sales every second. There are 135 million registered users in 32 countries. So you can see how your E-bay business can have a huge exposure.

Before you start an E-bay business you should decide if you want to be a full time business or just a part time hobby. Do you want to work from your home or set up an outside office to work from? Do you want to work on your own or do you want to have employees? Do you want to become a Power Seller or a Trade Assistant?

Actually, it’s really difficult to decide all those things in advance. But you can set them up as goals in your business plan. It really is best to start small. This way, you can decide if you like the challenges enough to go further. There will be many disappointments, but look at them as the learning process. Make no mistake about the fact that it’s become quite difficult to make big easy profits. So Ok it’s easy to start, but you will work hard to find the key to success.

It is a good idea to practice before officially beginning an E-bay business. It’s advisable to first do a few purchases of some things you could use around the house. Give feedback after a successful buy. Note the different experiences you will have with each different auction. This could teach you a lot before you begin selling.

Then, you can start selling. Try different headlines and descriptions on a small scale. Practice taking pictures and try different listing formats. Just sell one or two items at a time at first to get comfortable and confident. This should improve your chances of success for when you take your E-bay business to the next level.

Getting set up with an E-bay business just takes a few minutes. You will need to fill an application online, and supply your name, address, telephone number, a credit card and or a checking account. This is used for identification, as well as payment purposes.

When setting up your E-bay business you should also open a PayPal account. This is the largest worldwide payment service. PayPal was purchased by E-bay when they saw how popular the payment system became. It allows people to use credit cards or their checking accounts to pay you, as well as simplifying your purchases. The fees are very reasonable, and it eliminates the need to have a costly merchant account.

When you set up your E-bay business, remember to set up your “About Me” page, which is a free E-bay feature that allows you to promote your business and yourself.

When you start your E-bay business and succeed in making regular sales, you may want to register with Federal, State, and local tax authorities. You also may want to form a corporation or LLC to protect yourself from any legal liability.

By now you should have signed up for at least 6 online newsletters specializing in E-bay and Auctions in general. From these, you will discover sources for finding products to sell, and especially, some drop-shippers.

Your E-bay business should now something to specialize in. This can be the most difficult challenge you will face with your E-bay business. You need to pick something that you know about, has a profit potential, and is not hard to photograph or ship. Before you put something up for sale look to see what similar items sold for and ask, can I make money with this? A key point to remember is that what ever you offer must fill a need. You must do your research for every item you consider selling.

If your E-bay business makes your purchasing task simple and uncomplicated, you have a much better chance of success. In other words, if you find a niche, then specialize. This means your E-bay business should sell like items. If you sell CD’s, then having CD racks or players would be a good combination. The more compatible items you have on sale, the better your chances of success. People would much rather purchase what they need from one supplier that they have learned to trust.

After you have gotten comfortable with auction formats, and other aspects of your E-bay business remember not to get complacent. You will want to read about any new features, keep in touch with your customers, and also be aware of what your competition is doing.

Now you’re making enough sales to require you to automate. Don’t underestimate the value of simplifying your work through automation. And, you must keep growing by learning and changing to better formats. That’s the only way to take your E-bay business to its full potential and maximize you’re earning potential. Set your goal to becoming a Power-Seller.

Key words – auctions, online auction, internet business, internet marketing

Article by Gen Wright

For the past year, there was a rise in the creation of new businesses on the basis of both offline and online. With the rapid increase in the number of companies developed, so that his company the most. If you are a business, a company must be formally constituted and present, a tangible representation of your business concept, employees, your products or services, and, of course, your company ideals. Without a firm, even if your business concept, there would be nothing to represent physically and keep them in society and the economy.

For those who want to expand their business activities in the United Kingdom, an occupational training in the United Kingdom is of paramount importance. A limited liability company and the United Kingdom May is the only representation and averages for your business plan and ideas.

In the process of formation of companies in the United Kingdom, is of course necessary to be able to create a company with limited liability UK under UK law. This work not only better for British customers, but also the creation of a base in the United Kingdom, if not in line or on-line presence. As a legally qualified as a limited liability company UK, an institution must therefore benefit from the necessary laws and requirements for the establishment of business enterprises.

If you wish, that their company training in the United Kingdom, then it would be necessary to obtain assistance or guidance from a lawyer or an agency to help companies in the ongoing processes of the formation of the United Kingdom. Well, to know the entire company formation processes of the United Kingdom May, a lot of time for most. Moreover, it can be very boring, because it is necessary to meet the requirements, which by law. The solution to this problem is to make someone do it for you.

There are at the disposal of agencies and groups that can help the British company training. Instead of spending lots of money and many weeks to the process of forming a limited liability company UK, the on-line or through an intermediary May, the best and wisest option.

So, how is this done? The answer is simple. There are many agencies on-line offering such services for those who create a British company with limited liability in a short time and with minimal effort. The use of a company on-line training process of the United Kingdom, has also ensured that all requirements are completed and all documents are complete. With a few simple steps, a few hours, setting up your own British company with limited liability can become a reality.

With this option, because otherwise it would be a solution to an offline? With a company of online training in the United Kingdom, only the determination and will, eventually this company. Agencies specializing in occupational training in the United Kingdom accept process for these services with a very low price. Without the trouble and time lost is worth it.

Article by Kale McClelland

Did you know that one of the lowest cost and highest profit businesses that you can go into is an internet business? That’s right, in a recent study that was done it showed that internet based businesses had a much higher return on investment than your traditional ‘brick and mortar’ business. The reason for this is very simply, with an internet business you have very low overhead and a very high profit possibility.

The truth be told, to be successful on the internet you need three things, a computer, a good hosting service for your website and a business plan. Surprised at the last item? Most people are, and that is the number one reason why so many home based businesses or online businesses fail. It isn’t due to product or market because honestly there is a market for just about everything you can think of. The failure is due to lack of planning and execution.

When you decide to establish your own online business, you need to be serious with it. All kinds of businesses should have firm and realistic plans that can be achieved. Like any other traditional businesses, the very foundation of its productivity is a good plan. It was through planning that they were able to gather details of the market, prospects, competitors, goals, profitability, programs, and other business related matters intended to earn income.

In your decision of putting up an internet home based business, planning should be your fist step. You must be aware of the ever growing competition in the world of internet business. There are many competitors that may surpass your program if it is not planned carefully. Once you are able to start it right and great, there are also different kinds of market that will access your program and your internet business will surely grow fast as well.

Doing it right means that you invest the time to create a business plan. Creating an e-business plan will probably take you weeks, if not months, depending on how much time you have to create the plan and how in depth you want to make it. Here is a detailed explanation provided by the SBA as to what your business plan should contain:

1. Cover sheet —> 2. Statement of purpose —> 3. Table of contents

I. The Business

A. Description of business —> B. Marketing —> C. Competition —> D. Operating procedures —> E. Personnel —> F. Business insurance

II. Financial Data

A. Loan applications

B. Capital equipment and supply list

C. Balance sheet

D. Breakeven analysis

E. Pro-forma income projections (profit & loss statements)

F. Three-year summary

G. Detail by month, first year

H. Detail by quarters, second and third years

I. Assumptions upon which projections were based

J. Pro-forma cash flow

III. Supporting Documents

A. Tax returns of principals for last three years Personal financial statement (all banks have these forms)

B. For franchised businesses, a copy of franchise contract and all supporting documents provided by the franchisor

C. Copy of proposed lease or purchase agreement for building space

D. Copy of licenses and other legal documents

E. Copy of resumes of all principals’

Article by Wolf Krammel

Every business needs legal counsel and hiring a proven business attorney to advocate for and protect the interests of your company saves money and brings peace of mind. There are an unlimited number of situations in South Florida’s commercial environment that involve business and legal procedures, but the panorama can be broken down into traditional categories.

Whether the subject matter involves services or goods, agreements are an indispensible component to business transactions. In fact, it is no exaggeration to say that the art of drafting and interpreting contracts is the foundation of all business law.

One of the major functions of the business law practitioner is to provide comprehensive and accurate review of the provisions to an agreement and ensure that the parties understand the terms of the transaction into which they are entering. Similarly, a trained business attorney is skilled at listening to the parties and writing contractual clauses that clearly and precisely reflect their intentions. The attorney’s ability to accomplish these tasks directly bears on both the likelihood of disputes arising between the parties down the road and the possibility of incurring penalties as a result of non-compliance with rules and regulations.

Bear in mind that parties to an agreement will always have at least some adverse interests. Accordingly, in most instances contracts should be reviewed, negotiated, and/or drafted by separate counsel representing each party individually. The reality is that the party with the more skilled business lawyer is likely to come away with certain advantages.

Another real-life consideration is the business attorney’s demeanor. Business negotiations are a very delicate matter. One of the fears business professionals have is that after they have laid the groundwork for a business relationship with another party, their attorney will show up and wreck the deal by aggressively seeking more favorable terms and/or by bringing up issues that lead to conflict. To be fair to the attorney, he or she is only trying to look out for the client in this situation. However, the bottom line for the client in such a case is that the deal is gone. It requires a certain amount of wisdom and grace on the part of business counsel to ascertain the situation, weigh the consequences of making certain statements against not making them, and choose the appropriate comportment in order to walk the fine line that leads to true advocacy of the client.

The subject of business litigation is one that must be fully and frankly considered since business ventures and business relationships often do not work out as planned. Some business attorneys focus their practice on litigation and dispute resolution. Such practitioners are business litigators, and they have a different skill set from the transactional lawyers that draft and negotiate contracts.

First, the steps involved in litigation are complex, and failure to following proper procedures invariably leads to delay, expense, and/or defeat. To further complicate matters, there are several different codes of civil procedure that apply depending upon the issue, amount in controversy, and the county. Many times you may need a business attorney just to determine in which courthouse to file the lawsuit.

A business litigator knows the correct legal forms to use and the proper procedures for each courthouse. Also, the litigator is adept at presenting the facts of the case and the legal support for the client’s claim both on paper, in the form of a pleading, and before a judge, in the form of oral arguments. Each of these can be daunting tasks for a business professional without legal training and experience. Where the amount of money in question is relatively small (under ,000 in Florida’s Tri-County), the business professional may bring the matter in Small Claims Court pro se, where some judges may have more patience with non-lawyers. Many times, however, it is a bad idea to go into even a small claims matter without a qualified business attorney. Some judges dislike non-lawyers representing themselves or their companies because they invariably make mistakes and end up wasting the court’s time. Once the amount in controversy gets over a certain limit (over ,000 in Florida’s Tri-County), the court will require that business entities be represented by legal counsel and failure to do so will mean losing the case.

Article by Todd Nelson

If a business plan is being developed with the objective of obtaining a business loan, it is called as a business loan proposal. Design and development of an effective and proper business plan is an extremely important and vital part of a successful and profitable business venture. A good business plan also helps entrepreneurs get an insight into their business and also clearly understand their firm’s objectives, strengths, existing customers and the competitors in the market. Apart from helping in managing the business firm, a good business plan can also be used as a powerful loan proposal when the entrepreneur is required to approach a bank or lending agency in order to seek financings. The basic objective of a loan proposal is to effectively communicate with a prospective lender about the project and convince the lender to invest in the same. Business loan proposals have to been drafted depending on the financial requirements of the business firm. Usually start-up companies that require smaller amounts of loan can present their loan proposal in brief. But, business firms that are planning to make certain significant changes in their business require millions of dollars as a loan. Such firms need to design a comprehensive and well-written loan proposal. Developing a good loan proposal is not an easy task. A business loan proposal can be simply explained as a document that is drafted in an objective and critical manner and defines the basic purpose of the business. Small Business Administration, or SBA, has issued certain guidelines explaining the basic structure in which a business plan should be drafted. Some of the aspects that must be included in a business plan are detailed history about the firm, its objectives, key personnel involved in managing the business, their experience and expertise, management strategies that are required to improve the business and also the way in which these strategies will be implemented. One should be able to explain in the plan about the uniqueness of the product and the reason why it needs to be manufactured and released. Apart from these, there are certain other aspects that form an integral part of a business plan. These include marketing strategies and advertisement plans being implemented, existing competitors, product manufacturing costs and its pricing, future growth prospects, and also the company’s existing financial situation. Every loan proposal must be competently supported by proper documentation. Some of these documents that must be attached along with the business plan include personal tax returns for the last 3 years, current income statement of the applicant, financial forecasts for a period of 5 years, company’s profit and loss balance sheet and personal financial statement of all the principals involved in the project. Apart from these, one should also provide the projected break-even analysis of the business that represents the volume of revenue that can be generated from the sales and the way it will be used to suffice the fixed and variable expenses of the firm. The applicant is also required to provide documents that indicate the way in which the company plans to manage its cash flow. Other important documents that must accompany a loan proposal include relevant legal documents, market analysis data, census or demographic data, quotes, buy/sell agreements, lease documents, and letters of intent from prospective customers. Additional documentation might be required depending upon the type of business.

Article by Marjorie Jobe, J.D.

As a businessperson, the most responsible and loving act in safeguarding your family is to insulate your property and assets from the risks of starting, running or operating a business. Marital property agreements are one of the most effective tools in shielding family wealth, property and holdings from the legal perils of litigation, judgment, seizure, forfeiture or other loss of assets.

A solid marital property agreement is powerful and simple. Such an agreement can be entered into either before or after the marriage and can be modified at any time by written agreement. As a married person your assets and wealth are not adequately addressed or insulated for the protection of your business or your family until you have this agreement in place. If you are single, you should study and understand marital property issues before considering or discussing marriage with your loved one. Marital property agreements have an unwarranted and unjustified negative stigma that this article will hopefully debunk. Many people consider them to be a divorce planning device and therefore view them negatively or emotionally. Although they do accomplish the division of property and assets in the event of a divorce, they provide a more important layer of protection to the business owner and his or her family. The smart entrepreneur will recognize the primary worth of this contractual device to be asset protection, family protection and lending protection.

The most common form of marital property contract is often called a “prenuptial agreement.” This contract recognizes and separates ownership interests in both the property owned before marriage as well as the property which will be acquired post marriage. This feature is important because it can shelter the non-business owner’s separate property from creditors and liability of the business owner spouse. Future income can also be addressed in these agreements.

Post marital agreements can achieve the same kind of separation of assets and income after the marriage is entered should the parties agree to the property separation. The major benefit of post marital property agreements is the insulation of property and assets from any liability that may flow from either spouse’s activities or businesses. However, another important advantage of post marital agreements is that lending capacity can be increased. For example, if you own a business that borrows a great deal of money for a large expansion or acquisition, the lender may restrict your future borrowing capacity until the large loans are paid down. As a result, your spouse may not be able to obtain a loan for a separate line of credit or other capital requirements for his or her business because of the restrictions. With a marital property agreement in place defining separate property issues of the two independent businesses, these lending restrictions could likely be avoided.

Even though marital property agreements should be regarded first as responsible business planning tools instead of divorce planners, they do serve the added purpose of insulating business assets and operations from the claims of divorcing spouses. No one plans or expects to divorce when deciding to marry. However, marriage is a leap of faith that sometimes meets with a disastrous landing as proven by our country’s divorce rate. Thus, responsible business planning benefits from the marital agreement’s divorce consequences.

Marital property laws vary from state to state. But regardless of where you live, your spouse could end up as the sole owner of the business or as a partner depending on certain circumstances and legal consequences. Certainly, in most cases this would be unthinkable if not merely unworkable. Having an insurance policy in the form of a marital property agreement against an unexpected divorce and subsequent property division can definitely be advantageous.

Pre-marital agreements are technical and have state specific legal requirements and procedures which impact their enforceability; therefore, a family law specialist or a contract lawyer with experience in drafting enforceable premarital agreements in your state of residence or domicile should be consulted and retained if you decide to enter into a proper marital property agreement.

With adequate planning and the right marital agreement, you can protect yourself, your spouse, your family and your business from unexpected liability and unintended circumstances arising from any business, professional or personal legal disaster. It is simply a smart business practice to use these powerful legal protection tools.