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...
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Business Law
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...
Sometimes, re-negotiating a contract is the best option
Northern Kentucky businesses have every right to expect that if they enter an agreement with a business associate, that individual or organization will follow through. However, the reality is that parties breach their commercial contracts because it no longer makes...
Four signs you are ready to incorporate your business
Many corporations are household names, and perhaps you dream of having your business included in the realm of these popular entities. There are good reasons to incorporate, but before jumping headfirst into incorporation you should understand what a corporation is so...
How do I respond to breach of contract allegations?
If you are a business owner in Kentucky, you may encounter situations where someone accuses you of breaching a contract. A breach of contract occurs when one party fails to perform what they agreed to do in the contract, such as delivering goods, paying for services...
Business must plan for leadership changes
Business leaders cannot keep their positions forever or firm leadership may need to change. When business law issues are addressed, firms should also engage in succession planning to adapt to change. Succession planning defined This is a business strategy for passing...
Tips for avoiding contract disputes
As a business owner, your primary objective is running your business and serving your clients. The last thing you need is a messy contract dispute, which can lead to expensive litigation and broken business relationships. Fortunately, there are steps you can take to...
How do I know if a contract term is unconscionable?
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...
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...