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Contracts are the cornerstone of many business transactions. They lay out the expectations from both parties, so each one knows exactly what they’re responsible for. Many contracts conclude with both parties being fully satisfied with how it went. But, there are some...
Businesses often negotiate contracts to lock in prices and connect with necessary resources like supplies and services. Contracts also help ensure that a company receives appropriate payment for the goods or services it provides to others. Most of the time, those who...
Running a business is an exciting venture, but even the most successful companies can face internal disagreements. When disagreements involve shareholders, the stakes can be particularly high. While some disputes can be resolved through negotiation, others reach a...
Starting a business with a partner can speed up the formation process and make business ownership more accessible to a broader range of people. Those without hands-on management experience or sufficient liquid capital to fund an endeavor all on their own can, for...
Competition is supposed to be good for business – and good for society as a whole. But there are times when business rivals don’t know where the boundaries lie between “fair competition” and a type of improper conduct called “tortious interference.” One common type of...
The parties that invest in a business and become shareholders have an interest in its operations. The rights of shareholders include voting rights, a partial ownership interest and an influence on the long-term goals of the company. They help plan for the future and...
In some regards, a business partnership is like marriage. There is often a honeymoon period full of excitement when the relationship starts, but things can sour later. You have obligations to one another and sometimes partial responsibility for the mistakes or...
When you work with other people or businesses, you always take steps to make sure you have a solid contract. You want to be sure that if the other party makes a mistake or serious error that you’re able to end the contract and work with others who can actually get the...
You need to be able to depend on the people or organizations that you do business with. A business contract creates shared obligations between you and another party, allowing you to hold one another accountable. Unfortunately, not everyone makes good on their...