B Corp
What Is a Certified B Corporation? Certified B Corporations are for-profit entities that exhibit world-class standards for sustainability, transparency and accountability. These standards are audited periodically by the independent industry standard organization, B Lab. B Corp Certification can be likened to Fairtrade or USDA organic certification for products such as bananas or milk. The difference […]
Business Insights
What is A DUNS Number? DUNS stands for the “Data Universal Numbering System”. The DUNS Number was created by data services company Dun & Bradstreet (D&B), and is designed to mimic the personal credit reporting system but for commercial businesses. Lenders widely recognize the system as the universal standard for establishing the creditworthiness of companies. […]
Business Insights
Lack of Business Formation Vocabulary in Education It is not surprising that in high school and college, students never learn the vocabulary of incorporating new businesses. What is surprising is that business formation vocabulary is not even part of the curriculum in law schools or business schools. Moreover, entrepreneurship classes breeze past key distinctions in […]
Taxes
What Is An Individual Tax Identification Number (ITIN)? Individual Tax Identification Numbers, or ITINs, are a type of unique tax ID number assigned by the IRS to individuals who need to pay taxes in the United States, but who are not eligible for a US Social Security Number. People who are typically eligible to obtain […]
Asset Protection
What Is A Subsidiary Company? A “subsidiary company” refers to a business that is wholly or majority owned by another company. The company that owns a subsidiary is often called a “parent” or “holding” company. A subsidiary company is typically a separate business with its own team in charge of daily operations. However, the parent […]
Business Insights
Is an LLC a Business License? The requirement for a business license depends on where you are conducting business and what type of business you are conducting. Generally states and municipalities have business licenses for all types of activities. Often you need both a state business license and a municipal license in the incorporated municipalities […]