Law of the Land
Government interest in your property could bring business to a screeching halt. Know how to work the system for the best deal.
Bad news. Your brother just overheard two regional planners having a discussion about a proposed freeway access ramp, and it seems they want to run it right through your store. "No way!" you cry. "They can't do that to me!"
Well, yes, they can. Under the legal principle of "eminent domain," the government has a right to take private property from you when it's needed for a public purpose. If a federal, state or local government wants to widen a road or build a new city hall and needs your property to do it, it has a right to force you to sell. You do have a right to fair compensation, but you might not agree with what the government offers to pay.
Memorial Day Subscription Sale- Unlock this subscriber exclusive article and more for 20% off today.
Access all Entrepreneur content with no ads, unlock discounts, and get exclusive advice only available to our subscribers. Plus, our magazine delivered straight to your door.
Get a year subscription today for 20% off. Just use code SAVE20 at checkout.
Entrepreneur Editors' Picks
James Dyson Created 5,127 Versions of a Product That Failed Before Finally Succeeding. His Tenacity Reveals a Secret of Entrepreneurship.
7 Meaningful Ways Your Business Can Honor Memorial Day
Breast Implants Left This Founder With Debilitating Symptoms, So She Launched an Intimate-Apparel Line That Goes Beyond Buzzwords
Kids in the Hall's Bruce McCulloch Says TikTok Is the New Punk Rock
'I Am Not a Diversity Quota,' Says the Founder Disrupting the Dessert Category
Memorial Day Is a Time for Remembrance, So What's With All the Mattress Sales?
Pharrell Williams, Contemporary Artist Nina Chanel Abney and Brand-Builder Shaun Neff Announce Launch of Game-Changing NFT Platform