Creating strong business contracts facilitates clarity and legal compliance, but they are still prone to errors that can introduce costly disputes or litigation. One reason many business contracts contain errors is that entrepreneurs often assume a basic, reusable...
Contract Law
When a service provider doesn’t complete contractual obligations
Outsourcing company functions can be a smart business decision. Every new hire at an organization significantly increases operating expenses. The company has to make payroll tax contributions in addition to covering wages and benefits. That employee is also a source...
Does your business need to use a non-disclosure agreement?
In today's market, business owners understand the importance of having a competitive advantage. Confidentiality is paramount if that advantage is in the form of intellectual property like a trade secret or a proprietary process. Many businesses have their employees...
Common pitfalls in contract formation
Creating a contract should be straightforward. It should outline each party’s responsibilities, compensation and dispute resolution. Of course, if they were that easy, anyone could do them. Unfortunately, some people have tried to draft their own agreements and had to...
3 breaches of contract that might occur
Contracts are an important part of business because they outline the terms of deals made between companies. When both companies uphold their respective ends of the contract, it can be completed successfully. There are times when one party may not meet the terms of...
Understanding force majeure clauses
Contracts are all about solidifying expectations, planning for uncertainties and allocating risk – and that’s where a force majeure clause comes in. A force majeure clause refers to some sort of overwhelming, unpredictable and unforeseeable situation that prevents one...
What should contractors know about construction contracts?
Construction contracts are foundational documents that define the scope, responsibilities and expectations of a construction project. For contractors, a thorough understanding of construction contracts is crucial to ensuring project success, mitigating risks and...
Lawfully terminating business contracts
There are lawful ways to terminate contracts. However, terminating business contracts requires careful consideration and thoughtful, informed approaches. Contracts are binding agreements, and exiting them prematurely or without due cause can lead to legal disputes and...
What should be included in an employment contract?
As an employer, you know the importance of setting proper expectations before the start of any endeavor. This also applies to the hiring of new employees. An employee contract provides mutual understanding and protection to both the employer and the employee. And...
Understanding SaaS agreements: Tips for contract review
Increasingly, small and medium companies recognize the value of Software as a Service (SaaS) when it comes to meeting most of their technological needs. SaaS business software subscriptions can make it easy for a company to scale up and thrive, without investing in...