Articles Posted in Corporate-Business

A well structured business will have a compliance program in place, complete with company policies, safeguards, and reporting avenues. However, eventually, most businesses will face some form of compliance issue regardless of their efforts to prevent them. In that situation, how do you respond?

Before Anything Else, Don’t Panic

In the event that someone reports a compliance problem in your business, whether it’s a simple violation of company policy or a serious legal breach, it’s important to realize that no compliance plan is foolproof. Unfortunately, these kinds of events are normal, but lawmakers do realize as much.

Asset protection for business owners can be complex, especially when business activities may put personal property at risk. Fortunately, there are many strategies business owners can use to protect personal and business property.

Advantages and Drawbacks of an LLC

One of the most effective asset protection strategies is the limited liability company. LLCs separate the owners’ personal assets from those owned by the business, so if the company comes under fire, the owners’ personal belongings are kept safe from seizure.

Regulations, business trends, and socioeconomic factors can all impact the way corporations are run. As those factors change, so too will corporate governance best practices. In 2020, some of the major trends that corporations will need to account for are:

  • Increased digitization
  • Shifts in workplace culture

Your business’s intellectual property is among its most valuable assets, and it’s important to protect it. However, there may be instances where it is advantageous to let other entities make use of your patents, trademarks, and other IP.

Licensing your intellectual property can yield various benefits to your business, but it does come with its risks as well.

Advantages of Licensing

One way to raise capital for your business is to issue stock. There are many advantages to doing so, but also some drawbacks that are worth remembering. Because of those drawbacks, there are a few items to keep in mind when issuing stock.

Reasons to Issue Stock

Issuing stock can be beneficial for your business in the following ways:

Starting a new business is an exciting venture, but just because you’re excited about your new idea doesn’t mean investors necessarily will be. It’s actually harder for new startups to raise capital today than it was a decade ago, with new startups having to prove they’ll generate revenue before they’ll ever attract investors.

So how do you know if your idea can raise venture capital? Here are a few questions that should help you make the decision of whether to spend time raising investment funds.

Is Your Idea Worth the Risk?

Corporate governance demands high levels of efficiency and transparency, and the implementation of new technologies has aided in that endeavor. There are many ways in which technology can aid in these matters, but it may also present some risks as well.

Higher Transparency and Accuracy

When used well, technology allows for more consistent transparency and accuracy of data. Databases with dedicated portals help company leaders access information without rifling through physical filing cabinets, and databases can be configured to limit access to only those with the right amount of clearance.

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Much of business as we know it has moved online, and numerous entities operate entirely over the internet. This impacts how business transactions work, especially since most of these companies are smaller in size. The way risk is assessed and transactions are structured will reflect this, and there are a number of items to consider when negotiating a deal.

Assessing Risk

As with any business acquisition, the first item to consider is the matter of risk. This incorporates the following factors:

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Corporate governance is central to your business’s operations and overall market success. Not only is it legally required to have a working structure in place, it also outlines the way reporting, responsibility, and other vital matters are handled within the company. There are many issues to keep in mind when structuring your corporate governance plan, each of which has various ethical, operational, and legal implications.

Accountability

Among the first is accountability. Making sure you have a solid accountability system in place is key to minimizing liability and preserving your company’s integrity. Your governance system must include reporting structures that hold all parties on all levels of leadership accountable for their actions.

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Corporate governance is central to the operation of any business, so you must make sure it’s handled in a way that is both highly effective and perfectly efficient. Your corporate governance plan will evolve as your company grows, so whether you’re just starting up or have been around a while, at some point you’ll need to work on corporate governance policies.

Here, we’ll go over how to get started with corporate governance and look at the various elements you’ll need to consider.

Determine Your Objectives

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