Tags: Business Development, Community Economic Development, Tool Development, Value Chains, Wealth Creation
Client Name: Ford Foundation
Location: North Carolina, Vermont, Online
Resource Type: Tools
Author Org: Wake Forest University, Yellow Wood Associates
Author: Steve Virgil, Jon Mayhugh, Shanna Ratner
This guide is one of two pieces written to assist WealthWorks value chain coordinators or coaches in working with businesses and demand partners that are part of WealthWorks value chains. This guide is written to assist WealthWorks coordinators, coaches, and participants in anticipating common legal and business issues they are likely to encounter at some point in the development of a value chain. These are a few of the basic issues that will very likely come up at some point in the development of the value chain:
It should be noted that there is not one single correct answer to any of these questions, and in the event that the decision is not clear it is always a good idea to consult an attorney. This guide, however, should give coordinators and/or coaches a good overview of certain legal concepts and general guidance through typical legal situations that present themselves to most people operating in a business context.
The other guide is called Formalizing Your Business and provides basic information on the variety of legal forms a business can take and the pros and cons of each. Taken together, these guides provide basic information on some of the common legal issues related to the business of value chain construction and operations. Neither guide should be viewed as a substitute for legal advice.