Lakeland Startup Attorneys & Lawyers

A “golden parachute” is a payment or benefit made by a corporation to certain executives, managers or others (called “disqualified individuals” by the IRS) when there is a “change in control” of that corporation. Internal Revenue Code Section 280G, also known as the “golden parachute payment rule,” is the federal tax provision that covers these payments.

280G: What does it do?

Section 280G both limits the amount of golden parachute payments and imposes a special excise tax on them. The rule applies only if the value of the payment is more than, or equal to, thr

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What Is a Covenant Agreement Contract?

A covenant agreement contract is a written promise in an indenture or other formal debt agreement. It's between individuals who have promised to do or not do certain activities.

In finance, covenant agreements relate to financial contracts. These include loan documents that outline borrower limits. These limits protect lenders from defaulted borrowers and make up the covenant agreement contract.

Covenant agreements are also known as restrictive covenants or restrictive agreements. They're often used in real estate and commercial land use situations. For example, to avoid competition, someone buying a commercial property might be restricted from soliciting employees from the previous business.

Covenant agreements can cover everything from maintaining employees to the smallest dividend payments. They're most often represented as financial ratios that need maintenance. On

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Starting a business can both be exciting and intimidating. With so many pockets of information out there, it can be difficult to know how to get started. Before you begin, it’s important to know that you’ll have to work hard and be consistent. We’ll provide here a comprehensive guide on how to start a business. 

Develop a Business Concept

Before starting a business, you must first know what kind of business you’re starting. There are three great pillars of any business: do what you love, do what’s profitable, and do what you’re good at. Before deciding on a concrete idea, you should first consider the following questions:

• What are you passionate about?

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What Is the Role of the Board of Directors?

The board of director's role is clearly defined by a company's charter. This group hires the CEO, president, or general manager of the company. The board also decides the strategy and thereby the future of the corporation.

What Else Does the Board of Directors Do?

The board of directors has several primary responsibilities. Those include:

• Recruit and oversee the CEO and other high-level positions in the company: The position of CEO or president is crucial to the success of a business. The board must find the right person to lead the company. Sometimes, that employee will work elsewhere. The board must entice the worker to leave a job to become the leader of the board's corporation.
• Choose the direction of the business: The board hires corporate leaders, but th

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What Is Legal Entity?

A legal entity refers to a legally standing or lawful partnership. That partnership could be an association, a trust, a proprietorship, a corporation, or an individual. All such entities are legally able to be accountable for activities against the law, enter contracts or agreements, incur and pay back debts, be sued and sue other entities, and assume obligations. While legal entities are able to do many things, a legal entity cannot hold office or vote. 

Legal entities are frequently seen in scenarios and instances where an individual can take a class-action lawsuit against a company or the manufacturer that supplies the products for a company. Another scenario where the term "legal entity" applies is when every member of a band si

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