Oklahoma Business & Corporate Law Blog

Creating a Human Resources Compliant Framework

Human Resources The dynamics of the political arena under which businesses operate has a direct impact on human resources management functions. In a regulatory and ethical context, staying abreast of what is required to achieve compliance status has become a widespread human resources concern.  That’s because new legislation and changes to existing regulations keep compliance […]

Benefits of a Dispute Resolution Clause

Dispute Resolution Planning for the “what ifs” at the beginning of a business relationship may seem counterproductive. However, protracted disagreements with a disgruntled employee can prove costly in time, money and reputation. Having an appropriate procedure in place to handle disagreements before they arise enhances the opportunity for a fast and cost-efficient resolution for all […]

NEW TAX LAWS FOR BUSINESS PARTNERSHIPS – What You Need to Know

NEW TAX LAWS FOR BUSINESS PARTNERSHIPS  Radical changes effected in 2018 to federal laws could impact every business and, LLC taxed as a partnership.  Traditionally, business partnerships were treated as flow-through entities and therefore did not pay taxes. Recent amendments to the law, however, now allow the Internal Revenue Service (IRS) to assess and collect […]

Steps for a Legally Sound and Protected Business

The difference between success and failure for most entrepreneurs usually depend on the steps taken prior to the launch of their new business venture. According to small business trends, approximately nine percent of American businesses close after the first year.  The SBA Office of Advocacy also reported that two-thirds of businesses with employees survive at […]

What Three Elements Must I Include in a Business Contract?

Using contracts is essential when conducting business transactions for several reasons. A well-drafted contract protects your interests and reduces the chance of a lawsuit because of a misunderstanding. A written contract, when it contains the necessary elements, is legally enforceable. A contract that is not legally enforceable is worthless to a company. Therefore, you need […]

Five Requirements to Maintain Your Company’s Corporate Status

Five Requirements  A company may choose to incorporate for a variety of reasons. Obtaining corporate status provides several benefits, including limited liability for shareholders and officers. Safeguarding personal assets is one of the primary reasons that many people choose a corporation as their business entity. Unfortunately, many companies fail to take steps to ensure that […]

Are Oklahoma Businesses Required to Comply with the EU’s Privacy Protection Laws?

If you thought that you did not need to worry about compliance with a law enacted to protect consumers in the European Union, think again. The General Data Protection Regulation (GDPR) could apply if your company does any business in Europe. The penalties for non-compliance could be severe. Therefore, if you have not conducted a […]

Keep Your Business Cyber Secure!

As the calendar turned into the 21st century, technology began to become more advanced and widespread. From cell phones to e-commerce, the average consumer is engaging in online transactions at a great pace. However, as the consumer increasingly looks towards the internet in conducting business, the threat of the customer’s information becoming public is greater […]

Get it in writing!

“Did you get it in writing?” This expression is so often used that many people think it is the law. The reality is that oral contracts are just as valid under the law as written contracts. Many companies use oral contracts with their customers to make the business relationship seem more personal. Oral contracts send […]

Benefits of TOD Accounts

What expenses can I eliminate? Every small business owner has grappled with this question. Most Americans have dealt with this question for their personal expenses as well. Legal expenses are one of the most attractive expenses to avoid. Therefore, many Americans are more than happy to avoid the legal system by using accounts which automatically […]