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...
It can be difficult to start a new business. Many startups fail relatively quickly. New businesses can face an extreme amount of competition from more established companies. It is very important for entrepreneurs to know what steps they should take to give their...
Mergers are complicated business transactions. They often require months of negotiation and extensive plans to integrate the two businesses successfully. Mergers expose both organizations to a degree of risk, as the costs and instability generated by a merger can...
Many businesses must collect on unpaid balances owed by individual consumers. Attempting to do so can be a frustrating process, especially when debtors make concerted efforts to avoid their financial obligations. Some people go so far as to file for personal...
Buying a franchise is one of the fastest ways to become a business owner. A franchise could be up and running within months of contract negotiations with the franchisor organization. Franchise businesses allow entrepreneurs to tap into nationwide or global marketing...
Companies may go to great lengths to successfully compete against one another. Competition can inspire innovation. It can drive down prices. It can help particularly skilled workers command better wages. Unfortunately, competition can also inspire underhanded and...
