How Do We Get Rid Of Junior?

More than three quarters of all businesses in the US are family run. (The proportion is even higher elsewhere.) Family ownership means that family relationships, for good or for bad, often trump (or at least complicate) whatever the corporate documents say should be done about distribution of profits; hiring, firing, and promotion of managers; purchase…

Self-Dealing Is Easier In Some States

Where your corporation is organized can make a big difference in what self-dealing (sometimes litigated as “misappropriation of corporate opportunities”) is allowed. The New York Times pointed out the advantages of Nevada incorporation over Delaware for the major owner of Dish Network’s possible purchase of LightSquared, Inc., a broadband wireless company. See http://nyti.ms/1bfXsQe. The story…