Recently, we discussed the elements of contracts in our blog post on contract formation. As we mentioned, it is important that businesspeople have at least a basic understanding of contract law and contract formation. Equipping themselves with this type of knowledge will make business professionals much more effective when it comes to contract negotiation, communication...
Monthly Archive: August 2020
It’s not entirely common, but sometimes, a lawsuit against a business or business owner seems to almost fall out of the sky. More times than not, though, there are indications that a particular dispute a business is embroiled in is headed toward litigation. If you only recently became an entrepreneur, it might be more difficult...
The process by which a potential franchisee officially becomes a member of a franchisor’s team is a thorough affair; a comprehensive franchise agreement, which addresses nearly every pertinent issue and contingency, is signed by both parties. Generally, the franchisee knows what he or she is getting into, and there is usually harmony. Because of the...
What are the two types of Franchises? Becoming a franchisee is often a good choice for entrepreneurs starting out. Franchises give business owners the opportunity to see how they like running their own operation while being given plenty of support through established brands, products, services, and processes. Some people assume that all franchises are, essentially,...
No business owner wants to face a lawsuit. The good news is that you can proactively take steps to lower your liability and reduce your risk. In this blog entry, we’re going to discuss several essential protections that every business should have in place. Ways To Reduce Liability Risks Below are a few methods to...
Despite your best efforts, your business is now the subject of a lawsuit. After receiving a demand letter, your actions were obviously insufficient to the other party. Once litigation has run its course, you are free to reflect on how you got to this point. In the meantime, though, you have a few steps to...
You likely heard that on June 5, 2020, President Trump signed the Paycheck Protection Program Flexibility Act of 2020 (“PPPFA”). The PPPFA provides some much-needed clarity and modifications to the Paycheck Protection Program (“PPP”). Overall, the changes are beneficial to employers who applied or are planning to apply for PPP and it appears the government...
As a business owner, you spend an enormous amount of time trying to avoid this situation. However, it is not uncommon during the course of business that you will be faced with the prospect of having to defend your company against a lawsuit. This can happen to sole proprietorships and large corporations alike. To help...