Category: Business Transactions

First Line of Defense for Small Business

The weather in Norwalk and surrounding communities has been treacherous lately. At my house, we were down around -10 degrees before factoring in the wind chill. On top of that, snow was blowing and ice was accumulating around buildings, sidewalks and other facilities. In other words, we’ve had the type of weather that is a… View Article view article


The One Major Oversight When Organizing an LLC

It’s relatively easy to establish a limited liability company (LLC) with the state of Ohio.  The Secretary of State has forms.  Anyone can fill out a form, sign as statutory agent, sign as a representative of the LLC, and send it to Columbus to file.   When the form is processed in Columbus the new LLC… View Article view article


Dissecting Limited Liability

Limited liability companies (LLCs) are an extremely popular choice of entity in today’s small business environment. One of the many stated reasons for that choice is an attempt to limit the liability of the owners of the business.  But what does that really mean? There are multiple ways in which an LLC can benefit business… View Article view article


Business Succession Planning

Many small business owners don’t give enough attention to the business succession process. Indeed, many small business owners don’t plan for business succession at all. Statistics show that relatively few businesses survive multiple generations. We’ve put together a short whitepaper to help get the conversation started. Here’s the link to the whitepaper: https://www.markcoriell.com/wp-content/uploads/2013/10/LaycockCoriell_FailureToPlan_v2.pdf view article


Choice of Entity: Creditor Voting Rights (from June 2010)

Because Ohio business organization is a large part of our practice, we’re often confronted with questions regarding which entity (normally LLC vs Corporation) is best for a particular client’s new venture.  One blog post won’t answer that question in total, but, in terms of asset protection, there is one significant difference between an LLC and… View Article view article