Contracts are a necessary part of any business deal. No matter how well the people involved know each other and no matter how clearly the terms are spelled out, there is always the chance that the other person might breach your contract. Whether or not a contract is with another business, a vendor, an employee, or any other party, a breach could easily cause economic damage to…
Building a company with a partner has the potential to be extremely advantageous: partnerships allow for various advantages and are especially popular among startups and firms offering professional services. When you start a company with a partner or partners, the furthest thing from your mind is that you might wind up in an argument concerning company ownership. Sadly, these sorts of conflicts pop up fairly consistently and…
The contract is the fundamental agreement that businesses of all sizes rely on in how they conduct their daily operations. Contracts are legal sources of the fundamental responsibilities of multiple parties in enormously important business decisions.
When one party fails to live up to its obligations of such a contract, the action (or inaction) may constitute a breach. Parties aggrieved by these breaches can suffer significant…