Business Law area
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Legal Tip of the Week
Components of a business plan
By SoYouWanna.com, Inc. [June 4th, 2023]
If you don't know the difference between a tablecloth and a spreadsheet, you'll definitely want to enlist some professional help. However, even if you're planning to eventually hire a business consultant to write your plan for you, you should still try to write a rough draft on you own. The first step in doing so is to familiarize yourself with the basics by reading through these typical components of a hypothetical business plan. >> MORE
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FAQs
Your most common questions answered:
- How are bankruptcy proceedings started?
- [January 21st 2018]
- A debtor can voluntarily enter into bankruptcy proceedings, or proceedings can be initiated by the creditors. Proceedings that are initiated by the creditors are referred to as "involuntary bankruptcy."
- Why does it matter in which state a corporation is established?
- [April 5th 2018]
- A corporation is seen as a resident of its state of incorporation, and that state's corporate laws govern the corporation. Delaware is a popular state for incorporation because its corporate laws are especially well-developed and its courts well-versed in corporate law.
- What happens when a business goes into bankruptcy?
- [June 17th 2018]
- There are two types of corporate bankruptcy proceedings: Chapter 7 and Chapter 11. Under Chapter 7 proceedings, a business's or individual's assets are liquidated to pay outstanding debts. Under Chapter 11 proceedings, a corporation's debts are restructured, and the corporation is allowed to continue in business.