With the NFL Draft just passing and the NBA Draft looming, one thing to pay attention to is how many athletes start their own nonprofit organizations after they sign their first professional contracts. A nonprofit organization is a charitable organization that does not exist to create a profit. There are a number of reasons why […]
Category: Business Law
As attorneys who represent athletes, we need to make sure that we are exploring every available avenue that is in our clients’ best interests. One of these avenues that has presented itself is the creation and maintenance of loan out corporations. A loan out corporation is a company that is set up as a separate legal entity […]
Limited Liability Companies (LLCs) are a favorite type of of business entity for many businessmen. Advantages of LLCs include the following: Limited liability – no “member” is liable for anything other than the amount of his investment in the LLC, regardless of how involved that member is in the daily operations of the business. Taxed as […]