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A term sheet is a vital tool utilized in numerous types of business transactions.[1] In its simplest form, a term sheet—also known as a memorandum of understanding or a letter of intent—is an agreement in principle, on the intended terms of a transactions. They usually have very little legal weight behind them and are mostly intended as a means of summarizing the fundamental points of the agreement and demonstrating Read More

Growing up, did you ever enter into a verbal confidentiality agreement with a friend? Did you ever share a valuable secret based on the promise that the friend would never breathe a word? And when that person inevitably blabbed, did you wish there was some way you could have ensured their silence? Now, as an adult in the business world, the verbal promise of confidentiality is more ineffective than Read More

Before you read this blog, it is essential that you understand one key thing: there is no way to completely eliminate your company’s risk of getting sued. We live in a free, some might say “litigious” society, where anyone can sue for nearly any reason. If you go into business, particularly if you own more than one business, you will probably get sued at some point. Even seemingly ridiculous suits can get their Read More

You’re madly in love, you say? You’re going to be together forever, you say? Your fiance isn’t even interested in your business, you say? So, why would you possibly need to sign a prenuptial agreement? The fact is, as an entrepreneur, it may be irresponsible business ownership to neglect having a prenup that, at the bare minimum, addresses your company and whether or not your spouse will have any ownership Read More