Contracts

I recently met with one member of a two-member LLC with no operating agreement.  We'll call my client Jane and her partner Joe.  Jane was concerned because Joe was engaging in activities that could jeopardize reimbursements the company receives from the government for the services it provides.  Jane voiced these concerns and Joe prom...

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Reason #1: Leases are landlord-favored.  They're written by the landlord. This means every provision the landlord could skew his way, will be so skewed. Reason #2: For accuracy.  They're such voluminous documents that often the landlord or property management company doesn't carefully change all the required information to reflect your l...

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Are you working for or with a company that has promised you ownership or profit sharing?  Do you have this promise in writing?   I recently met with an intelligent go-getter who was a bit naive about business.  Two years ago he began doing business development for a local company.  The owners of the company had promised to rewa...

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Who is going to break a tie when you and your business partner don't agree on something?  Sure, in the beginning business partners never argue, they never disagree and they certainly wouldn't let the business suffer because of a little spat...  It's when the business starts making (or losing) money that business partners often find themse...

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 A nondisclosure agreement is often used by business owners who want to protect ideas they share with others from being stolen.  Like every contract, it's only as good as the people signing, but I discovered the other day that business owners don't always know HOW to handle a nondisclosure agreement.   I met with a potential cl...

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A few weeks ago I wrote about the concept of piercing the corporate veil.  I received an e-mail asking what happens when someone breaches a contract he signed that included a personal guaranty.  Short answer - get a lawyer.  Here's the long answer... A personal guaranty is sometimes required for a contract.  Commercial lan...

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Um...with a pen? Seriously, though.  It sounds simple, but you should consider the implications of how you sign documents on behalf of your company.  As a business owner you have a split personality.  In any situation, you will be either Jane Doe The Individual or Jane Doe The Business Owner.  Before you sign something that inv...

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You should.  I'm sure you expect that kind of response from a lawyer, but it's vitally important to not only read, but understand, every document that bears your signature. This rule is especially important when dealing with commercial leases, which are almost always written in favor of the landlord and have some pretty strict expectations of...

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