Partnership by Estoppel in Nevada Partnership by estoppel is a statutory recognition that someone “represents himself or herself, or consents to another representing him or her to any one, as a partner” and should therefore be held responsible as a partnership under the law. NRS 87.160(1). A partner is an association of two or more… Continue reading Why You Should Never Refer to Someone as Your Partner
I hear people refer to those with whom they do business as their “partners” frequently. I even hear this from people who are really shareholders in a corporation or members in a limited liability company. I am fairly certain that if most of them understood the potential liability of forming a true partnership, they would… Continue reading Nevada Partnership Formation and Law
How to Start Your Business So, You Want to Own Your Own Business in Nevada? A Primer on Types of Business Formations In Nevada Why You Should Never Refer to Someone as Your Partner Joint Venture versus Partnership: What is the Difference? How to Start Your Business So, You Want to Own Your Own Business… Continue reading The Business Owner’s Toolbox
In Nevada, there are very few restrictions on what name can be given to a corporation. First, a corporation may not be the name or initials of a natural person unless it also contains and additional designation such as “Incorporated,” “Limited,” “Inc.,” “Ltd.,” “Company,” “Co.,” “Corporation,” “Corp.,” or other word which identifies it as not… Continue reading How Do I Name My Corporation?
In our last post, we discussed Articles of Incorporation. In this post, we discuss a corporation’s bylaws. A corporation’s bylaws are written rules by which the corporation, its officers, directors, and shareholders must abide. They establish how the company is ruled and what are the duties and obligations of its officers, directors, and shareholders. Unlike the… Continue reading What are Bylaws for a Nevada Corporation?
In Nevada, a corporation is formed when one or more persons, called “incorporators”, sign and file articles of incorporation with the Nevada Secretary of State. Roughly stated, the articles of incorporation state the intention of the incorporators to transact business as a separate legal entity A corporation may be formed to conduct any lawful business, or… Continue reading What are Articles of Incorporation for a Nevada Corporation?
Nevada Jury Instructions MASCULINE FORM OF PRONOUN INCLUDES FEMININE OR CORPORATION The masculine form as used in these instructions, if applicable as shown by the text of the instruction and the evidence, applies to a female person or a corporation. NEV. J.I. 1.02 BAJI 1.10
The Nevada Department of Business and Industry (the “Department”) oversees the organization, licensing, operation, and dissolution of financial institutions. The Nevada Division of Financial Institutions (the “NFID”) within the Department has supervisory control of most financial services businesses operating in Nevada, such as state-chartered banks, thrifts, savings and loan firms and credit unions, as well as… Continue reading The Regulation And Operations Of Financial Institutions in Nevada
Litigators are fairly well known to be the scourge of the civilized world. After all, they are responsible for the number of lawsuits as well as the enormous costs associated with them, right? The truth is that I know litigators like that, but the majority of business attorneys I know do their best to keep… Continue reading Thinking of Forming Your Business Using an Online Service? Is it Tantamount to Playing Russian Roulette?
What is Disability Insurance? Disability insurance attempts to insure you against any injury, sickness or illness which would prevent you from earning an income. It is designed to replace up to 66% of your gross income on a tax-free basis should you become disabled. It covers both long term and short term disabilities. Don’t think… Continue reading When Should a Business Owner Consider Disability Insurance?
Long term care insurance covers you for the expense of a in-home nursing care, nursing home, hospice care, assisted living, adult daycare, respite care, and Alzheimer’s facilities. As with any other insurance plan, long term care insurance seeks to protect you against a major loss that you can ill afford. When you think of it, the… Continue reading 5 Reasons A Business Owner Should Consider Long Term Care Insurance
UNFAIR TRADE PRACTICES In Nevada, the elements for a claim of deceptive trade practices are found in the following statutes: NRS 598.0915 “Deceptive trade practice” defined. A person engages in a “deceptive trade practice” if, in the course of his or her business or occupation, he or she: 1. Knowingly passes off goods or services for sale or lease… Continue reading Deceptive Trade Practices Statutes