When you went online and were browsing through a few social media feeds, you were shocked to see a post about a product that one of your past employees designed while working for you. In your mind, that design was the property of your business because the work done to...
Year: 2020
Do Florida’s price-gouging laws apply to your business?
Florida takes price-gouging very seriously -- so much so that the state even maintains a hotline where consumers can report suspected incidents. While that’s commendable, not every complaint made by an angry consumer is actually valid. What is price-gouging? Florida’s...
What are indemnity clauses in contracts?
An indemnity clause is common in many business contracts. Their general purpose is to shift the financial consequences of a problem from one party to another. However, not all indemnity clauses are built alike. What kind of indemnification is in your contract?...
Delivery times are a critical part of a contract
It’s all too easy to assume that a breach of contract between two businesses means breaking the main terms of that contract. The truth is that every aspect of the contract has to be followed, right down to the time of each delivery. Say you run a company that sources...
When business partners have different goals, trouble can start
=In your mind, your vision for your new company is very clear. You know why you started the business, where you want it to go and what you hope it can be. The same is true for your business partner. They definitely understand their goals and their vision for the...
A 50-50 partnership may lead to deadlock
When starting a business with someone else, your gut probably tells you to split ownership 50-50. That seems fair, it makes both of you happy and you avoid insulting the other person by suggesting you should have more power or more control. You likely also think that...
Avoid these 3 common causes of shareholder disputes
Shareholder disputes are disputes that arise when shareholders are unhappy with the way your business is run or how the business has been represented to them. Generally speaking, shareholder disputes can be caused by the following three issues: Irresponsibility...
Passing your business on is possible with a succession plan
If you have a family business, something that you may want to do is to prepare to pass it on. You may already have an idea of who you want to have take over your company when you retire or pass away, so now is a good time to start succession planning to avoid...
Is your nondisclosure agreement enforceable?
Do you remember how much of a deal fast-food giants used to make of their so-called secret recipes? Whether there really was a secret ingredient in the Colonel’s chicken coating or Ronald’s hamburger relish may never be known. What is certain is that secrets can be...
Quick steps to take if your company is sued
The first lawsuit that a company faces is often a learning experience for the owners. If you’re in this position, your primary concern is going to be protecting the company that you spent your time building. While each situation has some unique considerations, there...