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...
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...
Shareholders are an integral part of a business. They have voting rights that can help a company make beneficial decisions. It is crucial to understand how this business aspect works to avoid costly mistakes. After signing a deal with the right shareholders, you...
Most business partnerships run smoothly in the beginning. Partners are excited and enthusiastic about growing the company together. However, like any other relationship, the honeymoon phase eventually passes out, potentially leaving you to contend with the reality of...
If you run a retail outlet, a restaurant or a manufacturing business, you need reliable suppliers to remain in business. Unfortunately, a supplier might breach their deal with your business for a variety of reasons. They might stop making deliveries unannounced,...
Owning a small business has many perks like setting your own hours, specializing in your favorite niche and choosing to work alone or with a few other people. Alas, business ownership has its downsides, its biggest one being a vulnerability to lawsuits. Every year, 36...
Understanding risk is crucial as a business owner. One of the biggest risks is that someone takes you to court. You might think that provided you give good customer service, it will never happen. Yet litigation can come about for so many reasons, and it could be...
As an entrepreneur, your reputation is your most precious asset. And if you get into a partnership with the wrong partner, the reputation you have worked hard to build can be ruined. Depending on the circumstances, a bad business partnership can result in the loss of...
Today, businesses rely on their vendors and suppliers to keep the doors open and continue serving their customers. When establishing any business relationship, a written contract is recommended. Even with a written contract, though, there are situations where a...
Many businesses have some kind of trade secret they wish to stay under lock and key. When these secrets get out, it could cause a business to underperform. Trade secret leaks can not only impact your business but may expose the personal information of the people you...