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When two businesses enter into a contract, each party expects the other to follow through on their promises. However, when one side fails to meet its obligations, it results in a breach of contract. There are several types of contract breaches, each with its own...
Running a business can be challenging enough without the threat of lawsuits. However, accepting that they are an ever-present threat is only sensible. It means you can put measures in place to try and prevent them from occurring and be prepared to act when they do....
There are many cases in which someone has the duty to act with another person or entity’s best interests in mind. This is known as having a fiduciary duty. Rather than only thinking about their own best interests, that person has to put the other party first. One...
One hurdle you might find yourself facing is when you are owed money by a business that has closed. How can you collect the amount due if that business no longer exists? For instance, perhaps you are a business owner working with a parts supplier. You order $100,000...
When a court rescinds a contract (known as rescission), that makes the contract no longer legally binding on those who signed it. It’s legally as if the contract was never signed. If money was paid by one party to another, it typically must be returned. The idea is...
A business partnership can be between friends, family, colleagues or new acquaintances. What matters is that the partnership is beneficial to the company. As with any business relationship, partnerships should be governed by contracts. These are called partnership...
Receiving the threat of a lawsuit is one of the most stressful things a business owner can face. Is the threat legitimate? Should you be concerned? What should you do to safeguard your company? Handling the situation with care and strategic planning can help to...
In some industries, sales commissions can translate into a huge percentage of someone’s income. Commissions incentivize many to close deals, which drives revenue for their companies. However, there are many different types of sales commission structures, which can...
A lot of intellectual property (IP) business disputes revolve around whether a person’s creation or invention was “work made for hire” or not. When a person is employed by a company, anything they create or invent as part of their job should be considered work made...
A business partnership can be highly beneficial. Partners can share investments, legal responsibilities as well as day-to-day tasks. Nonetheless, a partnership is only beneficial when all parties are on the same page. Disputes can arise and they can halt productivity...