Having a partner in business offers several benefits. It allows you to have the benefit of someone who complements your strengths and weaknesses, which makes your business stronger in the long run. However, in any business partnership, issues and disagreements can...
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Business law
What’s a choice of language clause in an international contract?
In a global economy, it’s hard to expand your business without eventually developing overseas connections – and that means international contracts. Unfortunately, any international contract presents unique problems that domestic contracts do not. In particular, you...
Your rights when another business breaches your contract
When you reach an agreement with another company, whether you intend to sublet part of their space or receive routine chemical deliveries from them, you expect that they will uphold their side of the agreement. The entire reason you executed a contract is to make your...
Important elements to include in your partnership agreement
Forming a business partnership can be complicated. This is especially true if your business has several facets or if you have more than one partner. It’s possible to reduce possible conflicts by creating an acceptable and clear business partnership agreement. This...
What if you and your business partner can’t agree?
You and your business partner have to work together to make decisions for the company. There are only two of you, so you either have to come to an agreement or compromise. There's no way to do something like putting it to a vote. For some companies, this works...
3 things to look for in a business partner
If you know that you want to start a business but you're interested in doing it with a partner, a critical part of this process is simply picking the right person. Making the proper decision can make or break your company and set it up for success or failure. So what...
What clauses should you include in a business sale contract?
Regardless of the size, a business sale is a huge undertaking. This explains the importance of safeguarding your legal interest when buying or selling a business. A business Sale and Purchase Agreement (SPA), also known as the Business Transfer Agreement is a legally...
Does your business need a specific license?
One of the great things about the United States is that anyone can start a business. Many people have this as a goal while working for another company, and they build up the business on the side. Others decide to just strike out on their own and start their own...
How should you handle electronic evidence in a lawsuit?
In the age of digital information, businesses should be much more concerned with how they handle digital evidence than they were in the past. The days of backing everything up with printed documents is long gone in most cases. This shift to electronic data can lead to...
How long will it take for you to sell your business?
When you have created a successful business, it is more than just the revenue it generates or the jobs it sustains. Your business has intrinsic value on its own. An established brand is almost always more valuable than an idea, making it smart for entrepreneurs to buy...