Why Does a Tenant Need to List “Additional Insureds” on its Insurance Policy for Leased Property?
When a landlord and tenant enter into a commercial lease for a retail store or office space, the lease will likely contain a long insurance provision as well as an indemnity provision. An indemnity is a promise whereby one party promises to indemnify (or compensate) the other against some anticipated loss.
The commercial lease insurance...
Why Does a Tenant Need to List “Additional Insureds” on its Insurance Policy for Leased Property? Continue reading…Why Landlords Want Tenants to Obtain Renter’s Insurance
Residential landlords will often include a provision in the lease requiring the tenant to carry renter’s insurance. Landlords do not want to be sued by tenants for damage to their possessions and want tenants to look to their own coverage. Tenants often balk at an additional cost and mistakenly assume that they are covered...
Why Landlords Want Tenants to Obtain Renter’s Insurance Continue reading…What Happens if I Die in Rhode Island Without a Will?
No one likes to think about dying. It can be an extremely scary and uncomfortable discussion, not to mention it makes us face the reality of our own mortality – something we generally prefer not to do. But while the discussion may prove very uncomfortable for you, the effects of dying in Rhode Island...
What Happens if I Die in Rhode Island Without a Will? Continue reading…What Is A Joint Venture Agreement (“JV”)?
There are several types of business organizations that are recognized by the law as a legal entity. This includes an individual (a natural person or individual proprietorship), corporation, partnership, limited liability partnership, joint venture or any other form of business organization. A joint venture is an agreement between two or more entities to combine...
What Is A Joint Venture Agreement (“JV”)? Continue reading…An Overview of Common Start-Up Costs
Starting a new business is an exciting time. For serial entrepreneurs, starting a new business is often more routine because they have developed a system from their prior ventures. For those who are just diving into entrepreneurship, understanding how to handle the early stages of the business, such as start-up costs, won’t be so...
An Overview of Common Start-Up Costs Continue reading…Rhode Island Intestacy Laws: When You Die Without a Will
If you die without having a valid will in place, this is referred to as dying intestate. Instead of having your wishes as to how you want your estate divided amongst your loved ones, your assets will be distributed according to state intestacy laws. Unfortunately, many people neglect to or put off the
Rhode Island Intestacy Laws: When You Die Without a Will Continue reading…Small Business Money Management: Three Healthy Financial Habits
Small business is the cornerstone of the American economy. Despite the press coverage that large companies receive for setting new market capitalization highs, or for causing a stir about where they’re locating their new headquarters, small business as a group is the largest employer in the United States. This means that most people rely...
Small Business Money Management: Three Healthy Financial Habits Continue reading…What You Need to Know About Operating a Home-Based Business
Operating a home-based business can result in reduced stress and lower expenses. By combining your home and office into a single location, you can roll out of bed, make breakfast and a cup of coffee, and then walk across the hall to your office to get on with the day – no more commuting...
What You Need to Know About Operating a Home-Based Business Continue reading…Characteristics (and Red Flags) to Look for When Buying a Business
According to Merriam-Webster, an entrepreneur is “one who organizes, manages, and assumes the risks of a business or enterprise.” Being an entrepreneur means taking financial risk for economic profit, it doesn’t mean building a completely new business. For those with an entrepreneurial spirit who don’t have the latest and greatest idea for an app...
Characteristics (and Red Flags) to Look for When Buying a Business Continue reading…The Value of Goodwill and Your Brand
When valuing a business, there are two primary assets that are considered. These are tangible assets and intangible assets. Tangible assets are physical assets such as real estate, equipment, inventory, etc. Conversely, intangible assets are not physical in nature and include intellectual property, brand recognition, and goodwill. Despite being intangible assets, brand recognition and...
The Value of Goodwill and Your Brand Continue reading…Rhode Island Beer Industry Boosted Through Regulatory Changes
Beer has long been beloved by Americans and Rhode Islanders are no different. But for years, state residents have remained stiff-armed in their consumption of beer by strict regulations that limited just how much they were allowed to consume and buy at...
Rhode Island Beer Industry Boosted Through Regulatory Changes Continue reading…Buying A House After Bankruptcy
It is no secret that filing for bankruptcy can harm your credit. However, compared to simply letting your accounts go past due for months on end, bankruptcy may actually be better for your credit over the long term because there are no repeated “dings” on your credit score. Getting the bankruptcy finished allows...
Buying A House After Bankruptcy Continue reading…