If you are in a business partnership, assets covered by the partnership contract cannot and should never be taken without the approval of all the partners. Unfortunately, it is not uncommon for a partner to fail to live up to their fiduciary obligation to the...
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Year: 2023
Potential benefits of investing in a franchise
As an entrepreneur, you’re always on the lookout for your next business venture. There are numerous options for you to choose from, and something you have been considering recently is a franchise. Getting involved in a franchise saves you from having to start...
Can your business partner force you to sell?
You started a business that has done very well. You and your business partner each invested $100,000 in it to get it off the ground, but it’s now a multi-million dollar business. You’re happy with the success, and you want to see just how far you can take things. Your...
What qualities should I look for in a vendor?
Many businesses opt for vendors to reduce costs as well as provide their customers more of a variety of products to buy. Some vendors manufacture goods, while others purchase goods and sell them to others. There are even vendors that provide services like web hosting....
Is arbitration better than litigation?
Binding arbitration clauses have become very common in a lot of contracts between businesses (or even between businesses and clients or customers). The goal, of course, is to keep issues out of court and, in the process, reach resolutions without having to go through...
Understanding a material and minor contract breach
Many successful businesses wouldn’t be where they are today without well-crafted contracts. A contract is a legally binding agreement that ensures cooperative parties uphold their end of a bargain. When parties fail to keep their end of a deal, then they may be...