Contracts, as the saying goes, are made to be broken. While breaking a contract isn't a habit you want to make, it's sometimes necessary as a matter of business. When that happens, there are several ways to go about it -- some, admittedly, easier than others. Here are...
Business Contracts and Leases
Tips for writing a small business contract
You own a small company, and you've poured all of your time and energy into it. It means everything to you, which is why you're so diligent about writing contracts and taking steps to protect the company whenever you work with individuals or other corporations. To...
What key components should every consulting contract have?
Nowadays, it's common for companies to rely on the insight of outside parties, such as subject experts. These consultants are often hired to help bridge the gap between a company leadership's core competencies and the ones they believe would help elevate their...
A verbal contract may be binding, but there’s still one huge risk
Generally speaking, a verbal contract does count. It is binding. You and another business owner have to abide by it as long as it is: Equitable Reasonable Conscionable Made in good faith That being said, agreeing to a verbal contract and not getting it in writing does...
Four types of commercial leases that determine payments
You're going to sign a commercial lease for your new business. You're excited, thinking about the future of the company, and you want to act quickly to lock down the property before someone else does. While moving quickly may be wise, make sure you take the time to...
Seven examples of when a contract should be in writing
Technically speaking, it may be wise for you to put every single contract you ever use in writing. Having that paper trail can be important if the contract is then breached. That said, the reality is that people often operate on handshake deals and other contracts...
Four necessary elements to take a breach of contract to court
You believe that a contract was breached and you -- and your company -- were wronged. You want to go to court to get compensation. For example, perhaps a parts supplier agreed to give you a shipment of a certain size. You took orders based on the projected...
3 phrases that warn you that a deal is problematic
Often, when talking to other business owners or vendors, you'll find people who want to do a deal without a contract. They may just not want the hassle, or it may be a direct scam. No matter what, it's a huge risk, and businesses have been ruined by people who skipped...
The origins of termination for convenience clauses
A termination for convenience clause is fairly powerful, in that it gives one party the ability to call off the deal even if the other party argues that everything was done perfectly. For example, a contractor could be hired to construct a new building. The project...
Types of business entities in Cincinnati
Starting a business comes with a lot of stress, especially if you've never started a business in the past. You will want to have as much information as possible and even an attorney by your side. Here are the types of business entities available in Cincinnati for your...