West Lafayette Startup Lawyers
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Legal Services Offered by Our On-Demand West Lafayette Startup Attorneys
On UpCounsel, you can find and connect with top-rated West Lafayette startup attorneys & lawyers that provide a range of startup law services for startups and entrepreneurs that are starting a business. Any of the top-rated West Lafayette startup lawyers you connect with will be available to help with a variety of your startup law related legal needs on-demand or on an ongoing basis in the city of West Lafayette, IN.
From primarily dealing with things like business formation, contracts, leases, equity financing, securities, and intellectual property protection, the West Lafayette startup lawyers on UpCounsel can help you with a variety of specialized and general startup law related legal matters. No matter what type of startup law needs you have, you can easily hire an experienced West Lafayette startup lawyer on UpCounsel to help you today.
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- 2 min read
Filing for bankruptcy can be a confusing process and many who are contemplating bankruptcy do not know about the differences regarding which type of bankruptcy they should be filing for.
What is Chapter 7?
Chapter 7 is the most common type of bankruptcy chapter filed in the U.S. Chapter 7 is also known as “liquidation bankruptcy”, that has to do with the selling of a debtor’s non-exempt assets by a trustee which will hopefully erase all debts that can be expunged. This is different from Chapter 13 bankruptcy, which just reorganizes
- 5 min read
What Is an Arm's Length Transaction?
"Arm's length" refers to a legal transaction in which buyers and sellers of products or services have no relationship to one another either by blood, marriage, or business dealings. Without a relationship, buyers and sellers can act independently. Without previous ties, an arm's length transaction makes sure neither person feels pressured by the other or acts in connection with one another.
The idea of an arm's length transaction, also known as an arm-in-arm transaction, came about in the real estate market as a way of handling tax authorities. Generally, family members and businesses with related shareholders are not acting at arm's length, which can cause ethical problems. Such ethical issues include a company's supervisor who forces an employee, under the threat of termination, to buy real estate using the boss's name.
In the 1997 case McNichol et al v. The Queen, the tax ju
- 3 min read
What is SOX?
SOX informally refers to the Sarbanes-Oxley Act of 2002, a piece of legislation created for the purpose of protecting investors from accounting fraud, specifically those that are related to shares sold by publicly traded companies.
The Sarbanes-Oxley Act is a deliberate attempt to mandate strict reforms with regards to how corporations made financial declarations. The law mandates increased vigilance with regards to disclosures related to the financial state of the company, particularly when it comes to earnings and profitability.
It is important to remember that this law regulates publicly traded corporations, those that sell shares of stock to the common people and institutional investors. The investors and potential shareholders will only agree to the listed price of the company's shares based on the company's value such as future earnings and current performance. Thus,
- 5 min read
Reverse Vesting: What Is It?
Reverse vesting occurs when a company's co-founder receives their shares and ownership interest upfront. This exchange is subject to vesting similar to employee stock options. If the co-founder leaves, the company may repurchase a set amount of those shares.
What Is a Restricted Stock Purchase Agreement?
When a company wants to initiate a repurchase of the co-founder's stock, it uses a process called a restricted stock purchase agreement. It's a specific term that reflects the type of stock, a restricted class, and the type of contract.
The purchase agreement is the agreement between the co-founder and the company that the latter party can buy back the stock. The transaction isn't guaranteed. They're simply holding the right to do it if the situation arises.
The business keeps the restricte
- 4 min read
What is Your Principal Place of Business?
This question is not as simple as it sounds. For a sole proprietor or a one location company, the answer is straightforward – your principal place of business is your home, shop, office or wherever you primarily do business. But large companies and corporations often have several locations spread out across the country, or even around the world. In these situations, the company headquarters is usually the principal place of business. This is not necessarily the same state as the state of incorporation.
The supreme court finally ruled that the “nerve center” of the company is the principal place of business. The nerve center test refers to the single place where a corporation’s officers direct, control and coordinate the corporation’s activities. In practice, it is usually where the headquarters are, as long as the headquarters are the center of direction, control and coordination. It