Every business relationship starts with hope for success. However, savvy entrepreneurs prepare for everything, even potential problems. That’s what your business contract is for—to protect your business and even your partners. With the right contract clauses, you can...
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Business Law
3 benefits of including ADR clauses in business contracts
When it comes to business contracts, disputes can arise even with the best of intentions. Thus, including alternative dispute resolution (ADR) clauses in these contracts can be crucial. As you navigate the world of business, have you thought about the benefits of...
What is the right entity for your small Kentucky business?
As a small business owner in Kentucky, choosing the right business entity is a crucial decision that can have a lasting impact on your company's success. Whether you are opening a shop or launching a tech startup in Cincinnati, your chosen entity type will affect how...
What is an exculpatory clause?
Kentucky business owners rely on their contracts to help them successfully run their business. Lawsuits cost time and money and can potentially damage your business. One way to remedy this is through an exculpatory clause. An exculpatory clause is specific language...
Five ways to effectively defend against breach of contract
Well-negotiated contracts can position your business for success. They can help secure materials at an affordable costs, thereby giving you consistent inventory, and they can lock in clients and customers into services and sales that generate steady income. But...
What remedies are available for a breach of contract?
In the business world, sound contracts provide you with the security and protection you need to carry out your operations. Without them, running your business would be chaotic and defined by uncertainty. But even the most well thought out and strongly written...
Steps you can take to avoid a partnership dispute
If you’re creating a partnership, you might dread the possibility of a partnership dispute. After all, when you and your partners have a falling out, the viability of your business can be tested, putting your financial well-being on the line. In some instances,...
What if a contract becomes impossible to perform?
Kentucky business owners know that good contracts are vital to the success of their business. No one forms business contracts expecting one side to fail to perform their duties under the contract. However, you should plan for this when you are drafting your business...
Can owners do anything to destroy their limited liability status?
If you own a limited liability company or a limited liability partnership in Kentucky, you may enjoy the benefits of personal asset protection and pass-through taxation. However, these benefits are not guaranteed and can be lost if you do not follow certain rules....
So, you want to start an LLC?
It might have been a dream since you were young. It could be a new idea you recently had. Possibly, a friend presented you with an opportunity. Whatever the reason for starting a business, determining the business structure of this new adventure is crucial when it...