Business Law & Growth

If you're the kind of entrepreneur who wants to make a real difference while you're in business and leave behind a body of work that continues to do good for your family, your customers, and the world after you're gone, you've come to the right place.

Business formation is a pivotal time in your new company's lifecycle. Your choice of entity impacts ownership, liability, taxes, profit sharing, ongoing management, eventual sale, and much, much more. Sky Unlimited can help you make the ideal choice.  

Continue reading


The traditional law business model is flawed. It incentivizes lawyers to spend more time on matters (since they are billing for every hour in six-minute increments), increase conflict (the more conflict there is, the longer the engagement), and constantly focus on the next new client (one off transactions are the norm in most legal practices). Plus, the world has shifted and quite a lot of legal work has become commoditized into online legal drafting software, documents on demand and do-it-yourself lawyering. 

 

Lawyers, not being entrepreneurs, tried to compete and became mere shadows themselves - document drafters, doing one-off transactions for clients, such as incorporating business, and then went on the hunt for the next new client.

 

Not us! We build lifetime relationships with our clients. Because a legal relationship not built upon a lifetime foundation is worthless. Really. If you want a transaction, go online and find a document drafting service. If you want someone great that will help you move your awesome idea into a revenue generating business, take your existing business to the next level of excellence, and prepare you and your business to leave behind a legacy of significance, you've come to the right place.

 

Sky Unlimited Legal Advisory will work with you to grow your business from day one. We support startups and small businesses through their exciting lifecycle, from business formation to sale - and every challenge and opportunity in between.


Entrepreneur Weekly

Articles from the Chief Counsel's desk.  Sign up for our newsletter to receive these in your email!

Love Your Business? Love Your Family? Then You Need A Succession Plan

You've put blood, sweat, and possibly a few tears into building your business from the ground up. You've got the vision, the drive, and the occasional coffee stain on your favorite tie. But have you thought about what happens to your business once you decide to hang up your entrepreneurial hat?

And even more importantly – have you thought about what happens to your loved ones if you’re forced to leave your business unexpectedly because you die or become ill?

 

Like most entrepreneurs, your business and your family are your greatest loves. Show them just how much you care for them by making sure there’s a plan in place for their care, and the management of your business, when you’re no longer at the helm.

 

The Business Owner's Dilemma

Picture this: You're lounging on a beach, sipping a colorful drink with an umbrella, and basking in the glory of retirement. Sounds dreamy, right? Now, imagine your business, left to fend for itself like a lost puppy in a rainstorm. Without a clear plan for succession, your business could face uncertain times ahead, and the thought of your hard work going down the drain is anything but relaxing.

 

Read More

Have Kids? Hire Them In Your Business For Major Financial Savings

Paying your kids to help out in your family business, whether they're in middle school, high school, or college, has some great perks. It can teach them about hard work, help them learn how to manage money and kickstart their savings for the future.

Plus, it keeps more money in the family and out of the hands of Uncle Sam.

 

In return, you get employees who are committed, work well in a team, and are loyal. This might even set the stage for a long-term succession plan for your family business. 

 

Adding to these advantages, bringing your kids into your business can also lead to some helpful tax savings. Thanks to the Tax Cuts and Jobs Act (TCJA), these tax benefits are now bigger than ever.

 

However, it's crucial to ensure that if you hire your kids, they actually do real work, and you pay them fair wages. Otherwise, you might draw unwanted attention from the IRS. Some of the benefits of the TCJA will be expiring in 2025, so make sure to take advantage of these benefits this year while you can. I'll provide more details on this below. 

 

Read More

Elevating Your Small Business: How to Attract Serious Clients Through Professional Branding and Business Structures

Your clients are the heartbeat of your business, and establishing a deep sense of trust with them is the cornerstone of growth and success.

In a world where skepticism and misinformation prevail, nurturing authenticity and reliability in your brand is essential to building and keeping your client base. 

 

In this blog post, we will delve into effective strategies that will not only build client connections, but also foster trust through the power of your business' branding and communication.

 

Plus, we’ll explore how living your brand of trust, transparency, and fairness throughout your company’s Legal, Insurance, Financial, and Tax systems will set your company up for success. 

 

Show Clients You’re Serious By Using Consistent Branding 

To attract and keep clients, they need to trust that your business isn’t just making things up as it goes or running on fumes - that it might close shop in a year or completely change its style as it discovers who it is.

Read More

How Sharpening Your Emotional Intelligence Can Improve Your Business

The journey of entrepreneurship is like diving into uncharted waters—financially and emotionally. It's not just about crafting a stellar business plan and securing funding; it's about mastering the art of emotional intelligence, the ability to navigate your own emotions and those of others in a way that fosters productivity and success for yourself and your business.

Consider this: the mark of a great leader often lies in their emotional intelligence. Reflect on the leaders you admire, and you'll likely find a common thread—they leave you feeling uplifted and connected. On the flip side, think of those who fall short in the leadership department—they might come off as reactive, inscrutable, distant, or chilly, leaving you with a sense of uncertainty or even fear.

 

What you're experiencing is the stark contrast between someone with well-integrated emotional intelligence and someone lacking this crucial skill. Elevating your emotional intelligence isn't just a touchy-feely concept; it's a strategic move that can empower you to take risks, champion your ideas persuasively, and trust your instincts even when doubts loom large. 

 

Failure to invest in your emotional intelligence can be a pricey misstep, leading to financial and legal blunders like seeking advice from the wrong sources, disregarding your gut feelings, or withholding crucial communications from partners, vendors, and team members.

Read More

3 Reasons Why You Need An Employee Handbook

If your business is on the path to hiring or already has a team in place, creating an employee handbook is a must. Not only does it ensure that your workforce is well-versed in your company policies, but it protects your business from conflicts and loss in the future.

Through the handbook, you get to introduce your team to the company's values and culture, offering a clear understanding of expectations on both ends—what you anticipate from them and what they can anticipate from you.

 

Each company’s handbook needs to be different depending on the size, structure, and nature of the business, but every handbook should achieve these three things:

 

01 | Set Expectations, Cultivate Understanding

In any workplace, an employee handbook should nurture the company’s healthy growth. It's not just about laying down rules; it's a means of transparently setting expectations. By clearly defining roles, responsibilities, and the values you hold as a business and as a person, you cultivate a mutual understanding between you and your team. This shared vision becomes the backbone of a positive work culture, where everyone is aligned, motivated, and contributing to the company’s success. 

Read More

How to Draft a Partnership Agreement So You Don’t Ruin Your Life

Partnership can be a rewarding and efficient business model if set up the right way. If your partnership is not set up in the right way, it can disrupt your life for months, years, or more.

The key to a successful partnership is getting the support to craft a robust partnership agreement from day one. 

 

This agreement serves as a framework that ensures all partners are on the same page, which leaves less room for disputes and more room to grow the business. 

 

While I’ve provided six essential clauses that every partnership agreement must include, here’s a little secret: it’s less about the agreement itself and more about the process of getting to the agreement.

 

In a future article, I’ll share more about the agreement process, and how to work with your advisor to ensure the agreement process itself protects the future success of your business. 

 

01 | Decision-Making Protocol

Establish a clear decision-making protocol. Do decisions need to be made using a consensus or a majority vote? What happens if there is a tie or a consensus can’t be reached? Laying out the policy for how decisions for the company are made will help avoid issues and conflicts in the future.

Read More

Why You Should Start The New Year With A LIFT Business Breakthrough Session

As we stand on the cusp of a new year, it's the perfect time to reflect on your business journey and set the stage for success in the coming year.

What components of your business worked the best? Which areas need focus or improvement? Are there areas of your business that have been neglected? (Don’t worry, we’ve all been there).

 

Wherever your business stands as this year comes to a close, the new year is the perfect time to assess ways to improve its processes and set your company up for next-level growth and success in the new year. It all begins by looking at the foundational systems that support your business from the inside out. I call those systems your LIFT systems. 

 

As your dedicated LIFT Business Advisor, I'm here to guide you through an examination of the Legal, Insurance, Financial, and Tax components of your business and help you build a LIFT Dream Team of trusted experts in these areas who will work together to bring your business into full alignment with your goals and needs.

Read More

Should Your Business Use Non-Disclosure Agreements?

At the core of many successful businesses lies a treasure trove of trade secrets—unique processes, formulas, or strategies that give a company a competitive edge.

Whether it's the secret sauce behind your best-selling product or the innovative approach that sets your services apart, trade secrets are invaluable. And, short of trade secrets, even just confidential business information can be gold. 

 

But even if you know how valuable your business’s confidential information is, are you taking the appropriate steps to safeguard it? Beyond using physical and digital security tools in your business, there is another tool that can provide a shield for your proprietary data: a Non-Disclosure Agreement (NDA). 

 

Today, we explore why your business should consider incorporating NDAs into its operations and how this legal tool can be a crucial asset in protecting your company’s valuable secrets. 

 

1 | NDAs Define the Scope of Confidentiality 

It may seem obvious to your employees and business associates what information belongs to your company and your company alone.

Read More

The 3 People Every Entrepreneur Needs On Their Team

Owning a business can be a thrilling adventure and an outlet for your most creative ideas. But behind the scenes of creativity and ambition, there's a practical reality that every business owner faces. To succeed, you need more than ideas and drive—it's about having the right team in place.

In this blog, we explore three critical roles that are essential to your business's success and how the support from these individuals can make all the difference between a business that fails and a business that achieves sustainable growth and progress. Let’s get started.

 

01 | A Well-Trained Bookkeeper

When it comes to making decisions for your business, knowing where your finances stand is key. From day one, a well-trained bookkeeper can set up your financial systems and establish a robust foundation for your business. With the right systems in place, they track your income and expenses, maintain updated financial statements, support you in managing cash flow, and categorize your expenses so you can maximize your tax deductions.

 

As your business grows, your bookkeeper can provide crucial insights into your financial health. They help you make informed decisions about scaling, investing, and budgeting. A good bookkeeper can be a meticulous record-keeper and ensure that every transaction, expense, and revenue stream is accurately documented.  

Read More

Own a Business? Do This By December 31st to Get a Year-Long Extension To The Corporate Transparency Act Reporting Deadline

Business ownership is a fulfilling and exciting endeavor, but it also comes with rules, responsibilities, and reporting requirements that can be hard to track.

If you own a small business or have a Trust that owns a business interest, you’ll need to comply with the Corporate Transparency Act (CTA) come January.

 

Beginning January 1, 2024, the Corporate Transparency Act (CTA) will require small companies to disclose the names of any owners who hold a 25% or more ownership interest in the company, as well as any individuals who exercise significant control over the company's activities. This new rule also applies to Trusts that own or control a company.

 

If you or your family own a business or have a Trust that owns a business, you’ll be required to file a report under the CTA. And, if you plan to create a new company next year, your reporting deadline could be as soon as 90 days after the date of its creation. 

 

There is a way to get more time to file the required report, but you need to act before the end of the year. In this blog article, I’ll share how to get a year-long reporting extension for your business that can give you more time to gather the required information needed to file the CTA report. But before I tell you how to gain the extension, it’s important to understand what the CTA is and how it will affect your business.

Read More