Considering the many different issues that can come up in a construction project, it's important to have a solid foundation that starts with a construction contract to minimize your liability. For the best protection against legal trouble, your contract should have certain key components. Familiarize yourself with these elements before you get started on your project. 1) The project's scope. “Scope of work” is a Read More

If you own a business, many aspects of your operations are directly under your supervision. But if you want to grow, some areas need to be delegated to staff. Assuming that you cannot do everything yourself, a business owner has no choice but to hire employees and share details about your processes and customers. How do you protect your investment of time, effort and money on training employees and prevent them from Read More

Many business owners’ worst fear is losing their home or their money in a lawsuit. For this reason, they incorporate their businesses. If you're the owner of a corporation or other business entity, your personal assets are generally safe from legal action against the company because the entity is considered a separate legal person that will be liable for its own actions. A lot of things have to go wrong before your Read More

Relationships are critical in business, especially when it comes to your co-owners or partners. It is crucial to place your trust in people who will work hard, bring complementary skills to the table, and keep up with their responsibilities to your business—and it's equally important to have a contingency plan in case anything should happen to your partners. A buy-sell agreement is intended to clearly spell out your Read More

So you have a booming business concept, a location in mind, and a plan of action all lined up. What's next? Before you start putting your vision in motion, you'll need to make sure your business can legally operate within your city and state. That means applying for the right licenses and permits. Check this quick guide for an overview of the licenses and permits you'll need to get started—and the reasons why they're Read More

Can you keep a secret? When your company has confidential information that needs to stay in your company, there is a contract that you can use to keep the information under wraps. It's called a “Non-Disclosure Agreement,” and it's one of the best ways to protect your trade secrets. Non-Disclosure Agreements, “NDAs,” or “Confidentiality Agreements” are contracts that legally obligate the signing parties to protect Read More

An operating agreement is a document used to set the rules and structure for management, decision-making, dispute resolution, and dissolution of any corporate entity.[1] When do you need to use one? In some cases, you don't have a choice. Certain states legally require an operating agreement if your company has multiple owners. Florida does not, however, and because of the investment in cost and time it may be Read More

Your brain is probably brimming with ideas for your startup, but ideas require action before they can take shape! Follow these 5 steps to ensure you meet the legal requirements for starting a business. [1] Step 1: Choose and Create Your Business Entity The first legal step towards starting a business involves choosing a business entity. [2] Sole proprietorships, partnerships, limited liability companies (LLCs), and Read More