Category: Business & Corporate

Best Practices in International Business Contracting – Part 1

            All contracts are subject to certain laws. The beauty of contracting is generally being able to choose which laws become part of the contract. An international business contract, for instance, it should generally read like a sophisticated business contract that will be performed by two domestic, English speaking parties. However, depending on the home …

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Some Important Information About Contracts and “Boilerplates”

                Have you ever read towards the end of a contract where there seems like a lot of stuff that doesn’t have to do with what the contract is all about, but that the lawyers think should be there?  Sometimes people call it “boilerplate.”  Some people might think …

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Is Debt or Equity Financing Better for My Business?

Recently a client sent me a financing contract from a “hard money” lender. This lender was willing to lend my client $150,000 at an interest rate of over 20%. Upon the lender’s granting the loan, the loan principal would jump from $150,000 to $225,000. These loan terms were considered within the “normal” range for this …

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New Maine Law Distinguishes Service and Assistance Animals and Seeks to Curb Abuse

A recent change to Maine law seeks to clarify the law regarding service animals and combat a perceived increase in misrepresentation of pets as service animals.  The new law, which took effect July 29, 2016, creates a distinction between “service animals” and “assistance animals,” and also increases penalties for misrepresentation of animals as service or …

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Investor Chronicles: Should My Company Take on Private Investors?

In my last post I provided some cautions to investors when they are determining whether to invest in a privately held company. This post discusses the investment relationship from the company’s side. Summary: Do not agree to sell or trade equity in your company until you have vetted your prospective investors. Recently I attended a …

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Investor Pitfalls: Should I Invest in a Privately Held Company?

Investor Pitfalls: Should I Invest in a Privately Held Company? Summary: Do not invest in companies that do not follow simple rules designed to protect investors. Recently a friend confided in me that she and her husband had given approximately $30,000 to a man who had a great business idea. He was enthusiastic, well-spoken, and …

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Improving Home Improvement: The Home Construction Contracts Act

By Allison A. Economy, Esq. As temperatures drop and winter closes in, many Maine homeowners have yet to finish (or even start) those “honey do lists” that looked so manageable last spring. As a result, this time of year leaves us clamoring for handymen and contractors to help complete outdoor tasks before the snow begins …

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Maine Retailer Certificates, Resale Certificates and Sales and Use Tax

Jonathan P. Bench, Esq. Summary Each business that sells tangible personal property in Maine must obtain a retailer certificate (this is the sales tax ID registration process) and collect and remit sales tax from its customers; All retailers should determine whether they can qualify for a resale certificate, which will allow them to save the …

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Inns, Hostels and the Spare Bedroom: Offering Vacation Rentals in Maine

by Rudman Winchell Attorney Jonathan P. Bench Maine is Vacationland. According to a report commissioned by the Maine Office of Tourism, in 2013 over 16 million tourists visited Maine for leisure or to visit friends or relatives. Of the 10,195,297 leisure travelers, 80% stayed in paid accommodations, of which 8% of leisure travelers rented a …

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