The HBS Blog offers insight on Delaware corporations and LLCs as well as information about entrepreneurship, start-ups and general business topics.
Disagreements can actually help a business grow. So says entrepreneur Margaret Heffernan, who discussed promoting disagreement in organizations for constructive collaboration. See her TED talk, below.
Rick Bell, Chairman and CEO of Harvard Business Services, Inc., announced today a strategic partnership with LicenseLogix, LLC, the nation’s premier provider of state and local compliance services.
“We are pleased to offer new and existing clients this seamless service, from entity formation and Registered Agent service to business license filings, renewals and compliance audits. The collective service offering represents the entire sequence of regulatory compliance needs that can now be taken care of effortlessly,” said Bell, “which is a first in our industry.”
Now, our two companies will ensure that businesses are in good standing with state and local governments and maintain compliance for the life of the company.
About LicenseLogix, LLC:
A team of attorneys, legal service providers, and technology professionals formed LicenseLogix, LLC to address a growing need for helping companies deal with various compliance requirements in all 50 States.
The experts at LicenseLogix, LLC provide business license research, application assembly, initial filings and renewals. LicenseLogix, LLC prepares all documents necessary for the licensing process. All the client has to do is sign the applications. This helps businesses to get state and local licenses faster, and keeps them compliant with the law throughout the life of the company.
LicenseLogix offers personalized service with easy-to-use technology, ensuring that clients are properly licensed and their questions promptly answered. Each client has a dedicated account manager who helps determine the appropriate license(s) required, fills out any applications, and communicates with the relevant licensing authority.
LicenseLogix services all companies, from single-owner LLCs and corporations to large companies with multiple entities doing business in all 50 states.
LicenseLogix and its Client License information Center (CLiCä) provide a user-friendly, secure, and cost-effective method to keep track of licenses in every jurisdiction while automating renewals and streamlining new license filings. Information on deadlines, renewal fees, and relevant corporate documents is easily accessible and customized to each client.
Account managers are available any time to answer questions about CLiC, a company's existing license portfolio, or license requirements in a new jurisdiction.
“We look forward to assisting the current and future clients of Harvard Business Services. In recent years, the regulatory burden has grown to be too much for many small companies to handle business licensing compliance efficiently in-house. We are pleased to supplement the outstanding services of HBS and certain to provide an excellent experience to their clients.” said David Yount, Founder and CEO of LicenseLogix LLC.
I was recently talking with a close friend of mine who runs a small exercise studio, and she mentioned that she was struggling with whether to hire more employees or rely on independent contractors. It turns out this is actually a pretty complex question with a host of financial, legal, and workplace consequences that all small-business owners should be familiar with. So let’s look at some of the pros and cons of each option.
Advantages of Using Independent Contractors
Advantages of Hiring Employees
So whichever route you choose, make sure that you are familiar with these IRS tips for determining whether your staff classify as independent contractors or employees. If you incorrectly classify someone as an independent contractor, you may be required to pay back taxes and penalties and to provide him or her with employee benefits.
“Build your brand.” “Develop your brand strategy.” “Branding is everything.” We’ve all heard advice along these lines when it comes to running our businesses. But what exactly does it mean, and how are we, as small-business owners with limited resources, supposed to build valuable brands?
Because there tends to be a great deal of confusion around the topic, let’s start with some basics definitions. Your brand is both a promise to your customers and a reflection of your company values. And your brand strategy represents your tactics for raising awareness of your brand. That strategy can include marketing, advertising, PR, and the like, but before spending a dime on any of that you’ve got to answer the question: What is my brand?
If you don’t know what your company’s brand is, or if you think you know but you can’t articulate it in a single sentence, then it’s time to engage in some good old-fashioned brainstorming and a bit of soul searching in order to come up with the answer. Start by gathering your most trusted colleagues in a room and asking them to join you in spending twenty or thirty minutes writing down as many answers as they can think of to the following questions.
After this exercise is complete you should have the raw materials to help define your brand. Spend as much time as you need sifting through the results and picking the winners, and engaging in more brainstorming sessions until you’ve got a clear vision for your brand, remembering that it needs to reflect who you are and what your promise to your customers is.
Once your brand concept is rock-solid, your next challenge is figuring out how to articulate that brand in a way that resonates with customers. To do this you’re going to need a few things:
And most importantly you’re going to need consistency in all of the above, because it’s impossible to build a recognizable brand without a consistent message from the company that stands behind the brand.
I was recently thumbing through my USA TODAY app on my iPad and came across a great article called "Investors Seem to Love stock Splits, But Do They Matter?” Many companies that do a stock split do so to attract investors to their company, and many investors love the idea of having more shares without having to invest additional money.
In a stock split, a company increases its number of issued shares by a certain multiple, such as 2 or 5, or whatever they want, and distribute that stock back to the shareholders themselves. If they do a “2 for 1 Split” the owner of each share of stock will get another one, at no cost. If you own 1,000 shares, you’ll get another 1,000 shares. Before this can take place,however, it must be voted on by the Shareholders and approved by the Board of Directors.
Usually, at the same time, the price of the stock will be half of what is was the day before, so the shareholders don't actually get a real gain, just more stock, though it is worth less money. "The total value of the company stays the same, but the company is sliced into a greater number of pieces. This means that from a valuation standpoint, a stock split is meaningless," says Matt Krantz of USA TODAY.
So why do companies split their stock? There are some benefits to a stock split including attracting new investors, who may not want to get into an expensive stock, when they can afford less than 100 shares. but will buy 100 shares of a stock they can afford.
Why do many individual investors love stock splits so much? For current shareholders they like owning twice as much of the stock, even if it’s not a financial advantage, initially. They perceive that it will become more valuable as time goes on.
Although the concept is fairly simple, the paperwork involved can be daunting. It is best done after consulting with your corporate attorney. There are many sources to learn more about stock splits, if you are interested.
The first thing to know before you consider a stock split is how many shares your company has Authorized, so you’ll be sure to have enough shares authorized to make the split. To check on the number of Authorized shares your Delaware Company has, just give us a call or an email – we’ll look you up on the State of Delaware’s Corporate Data Base and let you know.