A contract is the foundation of every valid business agreement. Effective arrangements create a solid foundation for a fruitful agreement between businesses, a business and its employees, a business and its vendors, a business and its clients, or with a third party....
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Business Disputes
What happens when personal assets and business assets are intermixed in a dispute?
Starting and maintaining your business can mean being creative when it is time to finance your next move. Ideally, you may prefer that your business assets are separate from your personal assets. Still, challenging times may mean you use one to support the other....
3 tips for ending a business partnership with a sibling
Maybe you and your brother started a lawn care business when you were in high school and the company has grown so large that you have dozens of employees and hundreds of clients. Perhaps you and your sibling inherited equal ownership rights to a business started by...
When is someone guilty of tortious interference?
Businesses will rely on contracts to outline different arrangements as they provide goods or services. Ideally, these business arrangements can go for the length of a project or countless projects. Unfortunately, one partner may realize that someone outside the...
Dark-store practices gain momentum during pandemic
The pandemic has impacted us personally in so many ways over the last few years. But, it has also changed the way that companies conduct business. For decades, big-box stores have been economic cornerstones in suburban and rural communities. Things have shifted to a...
Third-party beneficiaries may have rights
People often assume that a contract only involves the parties who sign it, but others’ fortunes may also flourish or suffer from the execution of the contract. These outside entities are called third-party beneficiaries, and they could have the right to share in the...
The role of cybersecurity in business divorce
When a business partnership comes to an end, the situation can resolve in numerous ways. The partners could sell the business, split the profits and move on to separate endeavors. Most often, however, one partner ventures out, leaving others in charge of the...
Shareholder disputes can damage a company
Internal disputes are a fact of life in business. This is due to differing priorities, not meeting expectations, misunderstandings, or other issues. Ideally, partners or colleagues can sit down and work through a problem without impacting the company, but shareholder...
Can equal partnership cause problems when a family business breaks up?
Many small businesses or family-owned companies are organized as equal partnerships. This essentially gives each partner an equal share in the decision-making process. Any action taken by the organization must result from a consensus or a compromise reached by the...
Buy-sell agreements often used in partnerships
It is normal for even the most stable business to undergo personnel changes. This can even include the ownership as partners retire, pass away, pursue other interests, divorce, or file bankruptcy. Business owners or entrepreneurs can plan for these changes by...