Employment contracts can provide many advantages for employers, helping to legally define the relationship between employer and employee. This is much different than using at-will employment, where there is no formal agreement in place. For instance, at-will employees...
Commercial acquisitions sometimes center around companies buying up their competitors. There are many reasons why this happens, one of which is simply to limit competition in that space. By acquiring or merging with the competition, the parent company protects its own...
Businesses run on promises, in a sense. Those promises are often codified in contracts and other legal documents. Failing to keep those promises or commitments (“breaches”) can result in civil and possibly even criminal legal action. Two common types of breaches are...
As an entrepreneur, you believe in your business idea. You are excited to start your company, and you believe that it will be successful. At the same time, however, you know that starting a business is a risk. Many businesses do fail in the first few years. Therefore,...
If you are starting a business partnership, you may be worried about future disputes between you and your partner. You know this can be harmful for the business and that some disputes even lead to litigation. In an effort to avoid this, you may decide to find a...
Even when chosen with the best possible motives, business partners can definitely become a source of stress and contention. It’s practically inevitable that eventually most entrepreneurs wind up butting heads with their business partners. So, what to do when conflicts...
Contract terms often focus on what each party should do for the other. They may outline payment terms and delivery schedules for vendors, for example. Contracts also sometimes include provisions explaining what either party should not do. Restrictive covenants in...
Businesses generally need trustworthy people in positions of authority. In some cases, those helping to run organizations have a fiduciary duty to it. Whenever making business decisions, they should think about what might benefit the company rather than themselves as...
Business contracts can create a variety of obligations and duties. Businesses and professionals may agree to render goods or services. They may agree to specific financial arrangements, such as a timeline for payments on a large project. Contracts may include...
Trade libel is a type of defamation that can harm a business’s good reputation. The statements are false, but potential clients or customers may not know that, so they develop an inaccurate perception of the business. This could cost it significantly in sales. A...
