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Business Law lawyer

Did you know that:In 2007, 1.8 million black-owned firms had no paid employees, an increase of 64.5 percent from 2002. These nonemployer firms generated $38.6 billion in receipts, an increase of 69.0 percent from 2002. In 2007, nonemployers accounted for 94.4 percent of the total number of black-owned firms and 28.1 percent of gross receipts. Average receipts for these black-owned nonemployer firms in 2007 were $21,263. (Census Bureau)

Did you know that:In 2007, 2.0 million Hispanic-owned U.S. firms had no paid employees, an increase of 46.4 percent from 2002. These nonemployer firms generated $70.7 billion in receipts, an increase of 66.6 percent from 2002. In 2007, nonemployers accounted for 89.0 percent of the total number of Hispanic-owned U.S. firms and 20.5 percent of gross receipts. Average receipts for these Hispanic-owned U.S. nonemployer firms in 2007 were $35,149; average receipts in 2002 were $30,875. (Census Bureau)

Did you know that:In 2007, there were 218,741 Cuban-owned U.S. nonemployer firms generating $7.8 billion in receipts (increases of 76.7 and 72.4 percent respectively from 2002). In 2007, nonemployers accounted for 87.1 percent of the total number of Cuban-owned U.S. firms and 15.3 percent of gross receipts. Average receipts for these Cuban-owned U.S. nonemployer firms in 2007 were $35,809; average receipts in 2002 were $36,692. (Census Bureau)

Did you know that:In 2007, there were 916,458 Mexican-owned U.S. nonemployer firms generating $34.2 billion in receipts. These numbers represented increases of 49.8 and 76.4 percent respectively from 2002. In 2007, nonemployers accounted for 88.5 percent of the total number of Mexican-owned U.S. firms and 22.0 percent of gross receipts. Average receipts for these Mexican-owned U.S. nonemployer firms in 2007 were $37,268; average receipts in 2002 were $31,655. (Census Bureau)

Did you know that:New York had the largest number of black-owned firms at 204,032 (10.6 percent of all black-owned firms), with receipts of $12.8 billion (9.3 percent of all black-owned firm receipts). Georgia and Florida were next with 183,874 (9.6 percent) and 181,437 (9.4 percent) black-owned firms respectively, with receipts of $8.9 billion (6.5 percent) and 10.6 billion (7.7 percent) respectively. (Census Bureau)

Did you know that:Among U.S. counties, Cook County, Illinois, had the largest number of black-owned firms in 2007 at 83,733. Los Angeles County, California had the second largest number of black-owned firms, with 59,680. Kings County, New York, was third, with 52,705 black-owned firms. (Census Bureau)

Did you know that:In 2007, blacks owned 1.9 million nonfarm U.S. businesses operating in the fifty states and the District of Columbia, an increase of 60.5 percent from 2002. These black-owned firms accounted for 7.1 percent of all nonfarm businesses in the United States, employed 921,032 persons (0.8 percent of total employment) and generated $137.5 billion in receipts (0.5 percent of all receipts). (Census Bureau)

Did you know that:In 2007, there were 106,824 black-owned employer firms, an increase of 13.0 percent from 2002. These firms employed 921,032 person and had a total payroll of $23.9 billion, an increase of 22.2 percent and 36.3 percent respectively from 2002. In 2007, these firms generated $98.9 billion in receipts, an increase of 50.2 percent from 2002. In 2007, employer firms accounted for 5.6 percent of the total number of black-owned firms and 71.9 percent of black-owned firms’ gross receipts. Average receipts for these black-owned employer firms in 2007 were $925,427. (Census Bureau)

Did you know that:In 2007, 37.6 percent of black-owned firms operated in the health care and social assistance (NAICS 62) and repair, maintenance, personal, and laundry services (NAICS 81) sectors. Black-owned firms accounted for 15.4 percent of all U.S. businesses in the health care and social assistance (NAICS 62) sector as well as 13.4 percent of all firms in the transportation and warehousing (NAICS 48-49) sector. (Census Bureau)

Did you know that:In 2007, there were 142,086 Puerto Rican-owned U.S. nonemployer firms generating $4.1 billion in receipts. These numbers represented increases of 45.5 and 47.5 percent respectively from 2002. In 2007, nonemployers accounted for 90.8 percent of the total number of Puerto Rican-owned U.S. firms and 24.4 percent of gross receipts. Average receipts for these Puerto Rican-owned U.S. nonemployer firms in 2007 were $28,667; average receipts in 2002 were $28,282. (Census Bureau)

Joint & Several Liability - where parties act together in a contract as partners they have joint and several liability. In addition to all the partners being responsible together, each partner is also liable individually for the entire contract - so a creditor could recover a whole debt from any one of them individually, leaving that person to recover their shares from the rest of the partners.

Joint Enterprise - A generic term for an activity of two or more people, usually (but not necessarily) for profit, which may include partnership, joint venture or any business in which more than one person invests, works,

Jobber - A merchant who buys products (usually in bulk or lots) and then sells them to various retailers. This middleman generally specializes in specific types of products, such as auto parts, electrical and plumbing materials, or petroleum.

Inventory Financing - The process of obtaining capital for a business by borrowing money with inventory used as collateral

Joint Tenancy - A joint holding of property by two or more persons with agreement that upon the death of one, the full title to the estate shall remain with the survivor.

Joint Adventure - When two or more people go together on a trip or some other action, not necessarily for profit, which may make them all liable for an accident or debt arising out of the activity.

Involuntary Dissolution - The forced dissolution of a corporation by a court or administrative action

Invitee - a person, such as a customer, who is present in a place either by the express or the implied invitation of the occupier. This normally means that the occupier has to exercise reasonable care to protect the safety of the invited person.

Intestate - Dying and failing to bequeath ones property or leave a valid will.

Joint Liability - Liability imposed upon two or more persons.