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October 2014 Archives

What is an LLC, and what are its advantages and disadvantages?

A limited liability company is a hybrid business structure. It provides its members with limited liability similar to a corporation with tax benefits similar to a partnership. Unlike a corporation, profit and loss from the business flows through to the personal tax returns of the members. An LLC can have one individual member, two members or can have other corporations and LLCs as members.

Judge must decide on fair use

People in Maryland who are old enough to remember Sony Betamax may also know that the prefix "beta" came to be used as a term to describe systems put into actual use in a preliminary manner so that developers could learn about real world problems in order to refine and improve a product. A landmark Supreme Court ruling involving Betamax may turn out to be a beta case for a current copyright infringement suit.

What is the best way to fire an employee to avoid a lawsuit?

When firing an employee in Maryland or any other state, it is important to do so in a way that reduces the risk of a wrongful termination lawsuit. Accordingly, it may be worthwhile to document any poor performance reviews or customer complaints the employee received. It may also be advisable to point out any action steps or suggestions that the employee was given to improve his or her performance.

What is a sole proprietorship?

When entrepreneurs starts businesses in Maryland, they have a number of different business structures from which to choose. One of the simplest options is a sole proprietorship. The sole proprietorship allows business owners to quickly launch their company with little paperwork or administrative requirements. It also has very little reporting requirements and it gives owners the ability to retain complete control of their business. For many businesses, a sole proprietorship structure is an excellent choice.

EMC explored mergers with HP and Dell

Maryland investors may be interested to know that data storage giant EMC recently looked into merger deals with competitors Hewlett-Packard and Dell, according to industry insiders. It is uncertain whether an agreement will be reached with either company.

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