Artificial intelligence (AI) is changing how businesses work by offering tools and technology that weren’t possible before. Startups are using AI to create new ideas, run more smoothly, and stay competitive. This shift is helping entrepreneurs think about their...
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Business Planning
What is the difference between forming a C corp and an S corp?
Starting a business often requires choosing the right corporate structure. Two popular options are C corporations (C corps) and S corporations (S corps). Both provide liability protection and have unique advantages, but they differ in important ways that impact...
How to navigate licensing and permits for new businesses
Starting a new business requires more than a good idea. Understanding the requirements can help ensure that your business operates smoothly from the start, avoiding potential legal hurdles. Determine your business structure Before obtaining licenses, decide on your...
Choosing the best business structure for taxes
Starting a new business involves many decisions. One of the most important choices is the structure of your business. Different structures have different tax implications. Understanding these can help small business owners make informed decisions and avoid surprises...
Business succession planning for a smooth transition of ownership
Business succession planning is crucial for Oklahoma entrepreneurs. It helps secure the future of their companies after they step down. This approach uses simple steps to transfer ownership when someone retires, dies, or leaves for other reasons. Importance of...
Keys to building a successful partnership
Starting a business with one or more partners can be exciting and rewarding. However, this venture requires careful planning and clear agreements to ensure success. Effective partnership formation and management involve several key steps and considerations. Types of...
How a limited liability limited partnership works
Business law changes frequently, sometimes adding more business structures to the existing roster of types that you can form in the state of Oklahoma. A recent addition is the limited liability limited partnership. An LLLP provides the owners of the company with...
What flaws could damage your LLC operating agreement?
Your new LLC could be a profitable business for years to come, provided that events do not cause the company to fall apart. Sometimes problems arise because founders of an LLC create an operating agreement with serious defects. In the drafting stages of an operating...
When is a business a successor company?
Not all businesses in Oklahoma start completely from scratch. It is possible you had created a business at some point but had to close it down. However, you might consider creating a second business called a successor company. Sometimes a successor company succeeds...
The Key Steps in Writing a Business Plan
A business plan serves to describe a company’s road map when it comes to the operational and financial aspects of the business. Oklahoma companies that are only just starting out do this, while those that have been around for a while also put together business plans...