Negotiating contracts is one of the most challenging parts of owning and operating a business. In the end, you want a result that is fair and ensures the mutual success of both parties. Contract law requires that no contract term, nor a contract as a whole, be...
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When do construction defects occur?
Real estate law is complicated because it is a patchwork of laws and legal precedents that can extend past the founding of our country. However, something that has been around from the very beginning is construction defects. From the very beginning, we needed...
How to choose the right business structure for your company
People starting businesses in Kentucky are usually concerned mainly about the product or service the company will be providing to the customers and clients. They also may be networking and marketing to find clients, customers and investors for the company. This is...
The difference between a material and a minor breach of contract
Every contract is intended to be a mutually beneficial arrangement, where both parties achieve their desired outcome. To ensure that outcome, specific obligations are set forth, defining each party’s obligation and when they must be performed. When one party fails in...
How can business owners reduce risk in a turbulent economy?
Kentucky business owners know that to stay on top of their game, taking calculated risks is a necessary part of running operations. In the midst of the economic uncertainty of the last couple of years, protecting business interests has sometimes been a challenge while...
Is becoming a landlord a good business move?
As Kentucky residents continue to face the challenges of a tumultuous economy, many are turning to more predictable sources of income that provide steady income while allowing them to work for themselves. Whether it is renting out a room in the family home, a carriage...
Important points to remember when purchasing a franchise
In Kentucky, people can get involved in their own business in many ways. It is not always a matter of creating a product, marketing it and selling it by themselves. In some instances, they take an established brand and work under its umbrella by purchasing a...
Common types of businesses in Kentucky and how to choose the right one
Forming a new business is partly a giant leap of faith, but it can also require many carefully considered legal decisions as well. One of the first things a Newport entrepreneur needs to decide is which type of business they would choose to establish. The type of...
Options for closing, selling or transferring your business
After cultivating a successful business in Newport for many years, the time may come when you want to retire. At this point you may be considering closing, selling or transferring your business. If so, you will want to know some basic points on what to do when it...
What is the difference between a general and limited partnership?
Choosing the best business form for your purposes is an important decision. Each form carries advantages and disadvantages that must be considered. The number of participants, the nature of the business and its long-term goals will all impact which form provides the...