Lisa and the Law
Welcome to Lisa and the Law, the official blog of Thompson Business Law Group.
Information is power, and this is where you get some without the legal jargon. This blog is designed to give business owners practical insight they can actually use. Along with updates on the law, I will share real-world tips and lessons learned from both practicing business law and being a business owner myself.
Consider a personal guarantee when extending credit to an LLC or Corporation
If you are extending credit to or working for an LLC/Corporation on a long project, consider asking the owner or one of the owners of the business to sign a...
Wait for the signature – NOTHING is that urgent
I represented the nicest construction guy ever. Unfortunately, he was too nice. When he was on a job and on Friday at 5 p.m. when the project manager asked for...
If the terms of a deal are in writing and someone won’t sign, RUN AWAY
If you have an agreement with, for example, a client and you send the client your contract detailing those terms and the client will not sign, RUN AWAY. Don’t walk,...
Reflections on Independence Day
As we celebrate our independence today, take a moment to be grateful for our freedoms and contemplate how precious they are. Wishing you all a safe, happy and restful 4th...
Freedom to pursue our dreams and businesses
As we approach Independence Day, I have been watching “The American Experiment” a documentary on Netflix. I highly recommend it. I am blown away by the courage and strength of...
A Handshake is nice, but it is not enough
The best free piece of legal advice is to have a written contract. It does not have to be long, it should not be in legalese, and it should anticipate...
What does Juneteenth commemorate?
On June 19, 1865 (2 years after the Emancipation Proclamation went into effect January 1, 1863), Union Major General Gordon Granger arrived in Galveston, Texas to enforce the final compliance...
Planning to sell your business – make sure your records are up to date
Before any sale of a business, the Seller will ask for your company records and financials as part of due diligence. Smaller businesses many times have not kept written records...
Estate plans are not one and done
Even if you have an estate plan, you should have it reviewed by both a personal estate planning attorney as well as your qualified business law attorney. Things change and...
Personal estate planning is not enough – you need to have an exit strategy for your business as well
To have a comprehensive estate plan, you must ensure that your business has written documents incorporating your personal estate plan (a trust, will, beneficiary deed, etc.) into your exit strategy...