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 succession…
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 partnerships Before…
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…
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…
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…
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…