You have probably heard that observing corporate formalities is very important to protect you from “piercing the corporate veil” but what does that really mean and what should you do as a business owner or manager to ensure corporate formalities are complied with in an appropriate manner? (more…)
Unfortunately, many private companies don’t pay close attention to the importance of a strong board of directors, including who to put on the board. Owners often think of this role as perfunctory and/or not necessary. On the contrary, a strong board of directors can be vitally important to a small, medium or large company and depending on the size of the company, the board can play different roles.
Executive Compensation . . . you can’t open your eyes or ears nowadays and not hear something juicy on this topic. However, far from the typical Executive Compensation discussions of the day, lays a far less scandalous, but more relevant topic to consider. How can you fairly compensate your employees and, in fact, motivate them to work harder in these recessionary times. Fear of losing their job? I prefer the carrot rather than the stick approach. Perhaps it’s time to think slightly out of the box and motivate your team to succeed through alternative compensation methods rather than beat them into submission with pay-cuts and lay-offs.