Many business owners face tough financial decisions. While the word “bankruptcy” might sound scary, it actually serves as a legal tool that can either help restructure your business debts or provide an organized way to close operations. Knowing what bankruptcy options...
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Business Law
Crafting contracts that safeguard your business
In today's fast-changing business world, well-written contracts are your first line of defense against potential disputes. Let's look at some key strategies to make your agreements stronger and reduce legal problems. Clear and specific language Vague terms can lead to...
What makes a contract valid in New York?
Teaming up with suppliers and other third parties could be essential to scaling operations when running a business. These steps could be exciting, but these transactions and agreements might have legal implications. Before shaking hands and popping the champagne, it...
5 common business formation mistakes to avoid
Starting a new business is an exciting phase for every entrepreneur. It is exhilarating to take the first steps toward turning your vision into a reality. However, in your enthusiasm to start, you might make critical mistakes during the business formation process....
How can a contract prevent business partnership disputes?
In the world of business, disputes among partners are an inevitable part of the journey. Moreover, managing these disputes can impact the success and reputation of a business. If well-drafted, a contract can help manage expectations and minimize disputes. However,...
Using mediation to resolve a legal dispute on Long Island
Legal disputes, such as a disagreement over the meaning of a contractual clause, frequently lead to trials, and trials are time-consuming and expensive. For years, judges and attorneys on Long Island have struggled to find a solution to this problem. Over the last...
Three powerful defenses to a breach of contract claim
Contracts make the business world function efficiently. While these written agreements can clearly spell out expectations and obligations in business dealings, the terms of a contract aren’t always upheld. When this happens, breach of contract lawsuits can crop up. If...
Competence is the cornerstone of a valid contract
When you enter the business world, contracts become a part of your daily landscape. They are the backbone of your interactions with partners, employees, employers and clients. They are more than just promises you make to each other. A contract solidifies a deal...
3 crucial mistakes to avoid in partnership dissolution
Business partnerships are built on trust, collaboration and collective expertise. As business owners, your experience significantly contributes to the company, just as your partner brings a crucial perspective to its growth. However, a time may come when your journey...
When is it appropriate to use non-disclosure agreements?
Running a business can come with various challenges, and this is especially true for owners who rely on proprietary and confidential information. In this day and age, protecting data is a priority, mainly if revealing these details can endanger business operations....