A contract serves as a means of clarifying obligations between multiple parties and formalizing business agreements. Organizations sign contracts when they hire new staff members, make arrangements with new vendors and agree to complete projects for clients. Most...
As a business owner or executive contemplating a merger or acquisition, you want to ensure this upcoming transaction will be beneficial for your organization. Performing due diligence to validate the company's performance and the asking price is a critical step for...
Contracts help businesses run smoothly and ensure agreements between parties aren’t broken. Yet, despite hours of legal consideration and careful documentation, a contract can be breached. A contract breach is any kind of violation of agreed-upon terms in a legally...
Although you can theoretically enforce a verbal agreement, written contracts are the standard for a reason. When you and another party work with one another in some context, your contract determines what obligations you have to one another. From the timeline of...
An entrepreneur hoping to start their own business has to consider many risk factors. Will they have a source of income if the business struggles to generate revenue? Do they have enough money set aside to cover operating expenses for the first year or so until the...
The parties that you choose to do business with will have a major impact on your company's success and its reputation. If you work with a vendor who violates federal import laws, your company could come under legal scrutiny and could suffer a major blow to its...
Maybe you hired someone to make your business website compliant with the Americans with Disabilities Act( ADA). Maybe you contract with your vendors to ensure a steady supply of crucial materials for your restaurant or manufacturing facility. Your business contracts...
It can be a challenge to maintain a constant flow of work when revenue comes into your business on a project basis. For small and medium-sized businesses, government contracts can be an excellent and stable source of revenue. You don't have to spend weeks trying to...
You do your best to make sure you always uphold your end of contracts, but there are some rare instances where something goes wrong and a breach is possible. Most people are willing to work together to resolve breaches and maintain a good business relationship as long...
Business partnerships are very common in the United States, and they can be very successful. Often, two people complement each other well and provide the necessary skills so that the business can thrive. This is why a business with two partners can be more robust than...
