When business partners reach a point where they cannot resolve their disagreements internally, their concerns may end up in court. Judges are sometimes called upon to resolve partnership disputes when negotiation, mediation and other forms of alternative dispute...
Starting a new business is very exciting, but it’s important to understand the legal challenges that can arise. Many start-ups face legal trouble because they overlook a few key areas in the early stages. Being proactive with the legal aspects of your new business can...
Legally binding business agreements are supposed to be fair to all the parties involved, but that’s not always the case. Some clauses may tilt the balance too far in one party’s favor. These are collectively called “unconscionable clauses” because enforcing them would...
Legal action is a common way of settling business conflicts, but you shouldn’t rush to court just because you can. It helps to pause and consider whether doing so is in your best interests or if there are other more efficient options of handling things. If you are...
Terminating an employee can potentially cause conflict. Former employees sometimes allege that companies violated their rights by terminating them. They may file lawsuits against their prior employers. In some cases, they may also make unreasonable demands regarding...
An employment contract establishes the terms of a working relationship between an employer and an employee. While employment agreements vary based on industry and position, certain elements are essential for validity and enforceability. Below are key components that...
While major shareholders generally don’t get involved in the day-to-day business operations, they do have a financial interest. They may also have a significant say in key big-picture decisions. Shareholders are also fiduciaries. This means they must act in the best...
Few businesses can expand with only one owner. Businesses looking to grow tend to have partnerships (two owners or more). Nonetheless, the ownership share of partners, and their responsibilities, can differ. It is essential to outline the distinctions between...
Merging companies means that very distinct cultures from two different companies will come together. This can present a challenge for the owners and managers for a host of reasons, so it’s critical that everyone comes into the process with a clear understanding of...
Business partnerships are based on mutual respect and a shared commitment to grow the company together. People who enter into partnerships typically have a good understanding of how everything will work between them, including who is in charge of what decisions. ...
