Even after he found out he had cancer in 2017, Ivo Puidak did not create a business succession plan. A former top chef and the founder of the Galena Canning Company, Puidak must not have realized how much trouble that would mean for his family. You see, he was...
Business Law
5 reasons to have your business contract reviewed by a lawyer
As a business owner, you’ve had to make quick decisions. You’ve had to negotiate your own contracts. You’ve had to do everything on the fly. If it has worked so far, you might think that you can do without legal counsel on your business agreements. What do lawyers...
As you build your business, you should pay yourself reasonably
When you are starting a new business, it can seem impossible to meet all of your expenses. You’re just now getting the word out about your new company. Clients are probably thin on the ground. You may plan to undercut your competitors to get your foot in the door, and...
What is tortious interference with contracts?
When you have a contract, but a third party interferes and causes the other side to breach it, it could be “tortious interference.” A classic example is this. You’ve agreed to buy a local artist’s painting for $500. They agreed to the price and you’re ready to pick up...
What is ‘force majeure’ in contracts?
“Force majeure” is a term a lot of people have heard in relation to the pandemic. Roughly meaning “superior force,” the term excuses performance of the contract if unforeseeable circumstances make it truly impossible to perform. A force majeure clause could come in...
Should you consider arbitrating your business dispute?
You may have heard about arbitration, but you may not know much about it. Under the right circumstances, it can be a quick, economical and final way to resolve a business dispute. You can arbitrate any type of business dispute with agreement from the other party. Some...
Accused of breaching your contract? Practical defenses
In these times of economic uncertainty, many organizations are finding themselves unable to fulfill their contracts. Yet if you have been accused of a contract breach, you may be worried about getting sued. What defenses might you have? First, it’s important to be...
Tips for business owners who need to close down
It can be tempting just to close your doors and walk away, but closing a business takes a bit of planning. Taking the right steps can avoid unnecessary costs and prevent legal disputes from arising. Here are the basic steps for closing down a business: Make the...
Which type of partnership should you choose?
When you're starting a new business, choosing the right entity type is important. You can choose a variety of entities: corporations, limited liability companies (LLCs), nonprofits, partnerships or even sole proprietorships. If you don't choose, your entity type will...
What options do you have after a breach of contract?
Unexpected events can lead one party or another to breach their contracts. If this has happened to you, you may be wondering what legal rights and options you may have. When a contract dispute arises, you can try to resolve it through negotiation, mediation,...