Is it time to sell your small business? Maybe you're ready to close up shop and retire or maybe you've been offered a price that's too attractive to refuse.
There are lawyers in practice today that probably weren't even born when the band known as "Jefferson Starship" was at its peak back in the mid-1970s and 1980s.
If you fail to live up to the terms of a business contract, or "breach" it, does that relieve the other person in the contract from his or her end of the deal? The answer is more complicated than most people think.
Contracts are part of doing business -- you won't be in business long if you don't get a clear idea of what it takes to make a contract valid and legally enforceable.
There's a rule in business that applies to almost any situation: When you're in a deep hole, stop digging.
There's an old adage that "an oral contract is worth the paper it's written on," but that isn't always true -- and people who underestimate the legalities of a handshake bargain sometimes find out, to their dismay, that they're going to be held to their word.
There's a big difference between a simple agreement and a legal contract. For one thing, breaking an agreement might not make you any friends, but it probably won't land you in court. Break a contract, however, and you can just about count seeing the inside of a courtroom in the future.
Knowledge is power -- especially in a society that is increasingly being driven by ideas and technological innovations. As a result, employers are increasingly anxious about losing control of their intellectual property.
No matter what type of business you run, you need to know something about contract law in order to survive.
Litigation is an almost inevitable by-product of a successful business -- but that doesn't mean that you don't want to take every step you can to avoid it.