Britton Law, P.A.
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Britton Law Blog

Legal guidance with your business transactions

When it comes to any type of business transaction, Britton Law, P.A. is dedicated to serving the needs of business owners in North Carolina. Representing clients in the state for more than two decades, John H. Britton is experienced and knowledgeable regarding the ins and outs of a wide range of legal business matters. In addition to his law degree, John holds an MBA, something that not many lawyers in the Fayetteville area possess. Because of these credentials, our law firm is able to help our clients in a much broader scope.

In addition to John's outstanding credentials, he works hard to earn the respect and trust of his clients. As a Fayetteville business transaction lawyer, he will strive to do everything possible to ensure that his client's business goals are met. From drafting and revising business contracts to completing your other necessary business documents, our law firm is dedicated to making your business transactions easier.

A good staff is key to selling a business

One of the most valuable aspects of any enterprise is its staff. People in North Carolina who are considering selling their business may want to take certain steps to make sure that their employees are viewed as assets by prospective buyers.

It's important that companies are staffed with well-trained employees that are confident and knowledgeable about their jobs and perform them well. These types of workers are also more likely to be capable of recognizing inefficiencies and areas of improvement in a business. This kind of staff is likely to increase the value of a business.

Inspection event and cargo securement

Commercial truck drivers in North Carolina and the rest of the nation should be aware of International Roadcheck, an annual inspection event that will occur June 6-8, 2017. This year, the event, which is sponsored by the Commercial Vehicle Safety Alliance, will focus on ensuring that the cargo being transported is secured.

Inspectors will be carrying out the North American Standard Level I inspections for 72 hours. These examinations are considered to be the most thorough as both the driver and the truck are inspected. Even though checking cargo securement is a standard part of CVSA's Level I inspection, inspectors will be paying special attention to it to remind drivers of its importance.

Tips regarding leaving a business to a millennial

Starting and growing a business requires an enormous amount of dedication and hard work, as the majority of North Carolina business owners know. Thus, the decision to leave a successful business in the hands of a family member, especially one who is a millennial, may require some forethought.

Compared with the baby boomer generation, many millennials have a different mindset about business, life and work. They are characterized as being slow to commit themselves and tend to be infatuated with social media and technology. Considering these points, those in the baby boomer generation who are thinking of giving or selling their business to a young adult might want to first learn if the person will be motivated and passionate about the business. Otherwise, the business could eventually deteriorate and completely fail because of the new owner's lack of interest.

Company aims to remove drivers from commercial trucks

North Carolina motorists may be interested to learn that a San Francisco company is attempting to replace truck drivers with remote control systems. The technology would allow the drivers of the vehicle to control the vehicle from a remote office.

The co-founder of the company stated that the goal was to give truck drivers more time at home and to make the workplace environment safer for them. One positive is that the technology can be retroactively fit to trucks that are already in use, meaning that owner-operators and trucking companies would not have to purchase new vehicles. The retrofit kit allows drivers to control the vehicle's steering, throttle and transmission while utilizing data from the vehicle's environment.

Understanding business opportunities

There may be a middle ground for aspiring entrepreneurs in North Carolina who have neither the desire to buy a franchise or the desire to start a company from scratch. It may be worth their time and money to look to buy business opportunities from known brands and working business plans. In most cases, the buyer and seller have no relationship after the purchase is made.

This means that the business opportunity buyers can run the business however they see fit. They can also run it under a name that they want without paying trademark or royalty fees. While there is less support from the seller compared to a franchise opportunity, this may be better suited to the buyer's personality. It is important to fully understand the legal situation surrounding any business opportunity.

Tips to help entrepreneurs hire reliable staff

North Carolina entrepreneurs face many challenges as they seek success in the business world, and one of those challenges is finding knowledgeable and experienced people to be a part of the business. Since employees are one of the most important assets to operating a successful company, it is vital that they be capable and trustworthy people. Here are some factors business owners can consider before hiring people.

First, it is a good idea that business owners consider the competency of potential employees. Since each member of the team should possess various skill levels in different aspects of the business, business owners should consider each person's expertise, experience, weaknesses and strengths when conducting one-on-one interviews. Business owners should also make sure each person they hire understands the goal and purpose of his or her role in relation to the company's mission.

The role emotions play when negotiating

To get the best possible deal when buying a business, North Carolina buyers need to have a plan before negotiations start. During the first stage of talks, it may be a good idea to work on details such as the timing of the sale or how much time will be allocated to conducting due diligence. These are often items that are easier to come to agreements to, and it can build a rapport between buyer and seller.

Human emotions come to into play as well during negotiations. Buyers and sellers should agree to commit to holding talks in good faith, and buyers should assure sellers that anything said in the heat of the moment isn't personal. Buyers should also understand that he or she must sell themselves much as the seller needs to convince the buyer that the company is worth acquiring.

Pitfalls to avoid when selling a business

Economic conditions have improved significantly in North Carolina and around the country in recent years, and some entrepreneurs in the Tar Heel State may be thinking that now is a good time to cash out and sell their businesses. While the volume of mergers and acquisitions tends to increase during times of prosperity and economic growth, that does not mean that negotiations will be straightforward and buyers easy to find.

One of the major pitfalls to avoid when selling a business is trying to hide inconvenient truths. Just as home sellers move furniture to cover damage and spray air freshener to conceal the odor of rising damp, entrepreneurs may seek to hide aspects of their business operations that could deter buyers. Taking this approach is rarely effective, and attempting to mislead business buyers can backfire with disastrous results. Those seeking to buy commercial ventures are generally shrewd and cautious, and they usually retain capable legal and financial professionals to pore over financial statements and contracts.

Study compares truck driver health with accident rates

Living a healthy lifestyle can be challenging for truck drivers in North Carolina and around the country. Operating a commercial vehicle is a relatively sedentary occupation, and the menus of roadside dining establishments do not always feature a wide variety of healthy choices. A report published by the U.S. Department of Transportation in 2014 suggests that obesity, smoking and diabetes rates are twice as high among long-haul commercial truck drivers, and a research team from the University of Utah School of Medicine indicates that drivers in poor health are involved in significantly more accidents.

The University of Utah study, which can be found in the Journal of Occupational and Environmental Medicine, is based on the driving records and medical histories of 49,464 commercial vehicle drivers. The research team compiled a list of conditions that could impact an individual's ability to operate a semi-tractor trailer safely, and they found that drivers who suffered from three or more of these dangerous medical conditions were involved in accidents more than three times as often as healthy drivers.

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