Wyomissing Pennsylvania Legal Blog

You may have an exciting idea to start a brand new business in the state of Pennsylvania. However, many creative people do not have just one idea. What if a Keystone State entrepreneur has an idea for a printing company and a lawn mowing business at the same time? It would seem strange to form a business that offers both services, so the entrepreneur may choose to form two businesses instead. Like any business venture, you should consider the benefits and drawbacks to starting up two or more businesses at once.

Perhaps the most important benefit is that by creating multiple businesses, you have isolated each business from possible litigation. According to entrepreneur.com, if a client sues one of your businesses, the other businesses will not be affected by the suit. Keeping your businesses separate can also keep the financial difficulties of one business from dragging down the other companies you own, since each business will have its own cash flow and profit margin.

Dividing a business in an Ohio divorce is one of the more complicated topics in family law. Your situation, if your business qualified as community property and you could not reach an immediate agreement on its division, would likely involve your legal team and that of your former partner performing lengthy valuation and discovery techniques before entering into similarly time-consuming negotiations.

Two situations that might speed up the division process for a business are, as briefly mentioned above, if the assets of your business are your own separate property or if you are able to reach an agreement without argument regarding who gets the company. The latter would probably depend mostly on the attitude of your ex-spouse. If there is no interest on the opposing side in the ownership or operation of your business, then it is likely you could easily negotiate a fair-value replacement for the assets it represents.

Sometimes Pennsylvania couples who have shared everything for years decide to end their marriage. When they do, they have countless decisions to make about un-sharing all the things that once tied them together. One of the most important of those decisions is how to share custody of the kids.

If neither spouse has abused the children, research shows joint custody is the best arrangement. In fact, the Institute for Family Studies states explicitly: "In the 54 studies - absent situations in which children needed protection from an abusive or negligent parent even before their parents separated - children in shared parenting families had better outcomes than children in sole physical custody families." 

Pennsylvania entrepreneurs unfamiliar with the various incorporation structures usually shy away from certain types of business formations. After all, there are some that seem to carry advantages above others. If you are considering these questions before you form your business, then you might already be a step ahead of your competition.

Most small business owners or startup leaders tend to operate right from the beginning with a solid exit strategy. Depending on the type of organization you intend to run, a C-class corporation could be an interesting structure in this regard.