A well-drafted business contract ensures that both parties understand their rights and obligations and provides a clear framework for resolving disputes. Whether you’re entering into a partnership, sale, or service agreement, including the right elements is crucial...
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Business Law
4 hidden liabilities to be aware of when buying a business
Buying a business can be a fresh start or provide a new stream of income, but it also carries risk. There are always potential liabilities, some of which may not appear right away. These hidden issues can create financial and legal problems after the purchase. It is...
Beware of these risks of investing in a franchise
Investing in a franchise can be a great way to unleash your entrepreneurial spirit while reducing the amount of risk associated with starting your own business. After all, as you prepare to open your franchise, you’ll receive a lot of support from the franchisor, and...
Avoiding contract disputes: 3 elements of a solid agreement
Contracts are the backbone of any successful transaction and business relationship. Whether you are a small business owner or a freelancer, a well-crafted agreement is your key to protecting your interests and setting clear expectations. However, even with the best...
How liquidated damages clauses can help mitigate risk
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...
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...