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The decision to terminate an employee can be both emotional and frustrating. If not handled properly, it can also result in expensive litigation. These days, wrongful termination lawsuits are not idle threats. According to a recent study conducted by Jury Verdict Research, recently fired executives who sued are winning often and winning big.
Effective business planning is critical to an entrepreneurial company's long-term success and its ability to raise capital and grow successfully. A properly prepared Business Plan should tell a story, make an argument and conservatively predict the future. All companies have different stories to tell, different arguments to make and different futures to predict, so they must resist the temptation to copy from others or to follow a rigid outline.
Many entrepreneurs with family-owned or closely held businesses say the most difficult challenges involve deciding who will succeed the current generation.
If you thought recently-enacted legislation to require greater corporate accountability was intended only for public companies, think again. Expect considerable spillover among private companies seeking venture funding or planning for acquisition by public companies, argues this legal expert.
There is no doubt that it is a nearly impossible time for entrepreneurs to raise venture capital. Only the best of the best new companies are attracting such funding, according to the author. Entrepreneurs need to prepare themselves when approaching venture capitalists. Increasingly, several must have factors have become an essential part of the necessary preparation.
Creativity is the emotional lifeblood of entrepreneurship. Without creativity, thousands of companies would not have been launched. However, it is an element of entrepreneurial life that isn't easy to safeguard under the law.
The process of going through a legal audit isn't easy, but the risks associated with avoiding the issue are too high for any company to bear. Doing so is not only necessary, but beneficial.
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