For there to be a legally binding contract, there must be an offer and consideration. There must be a mutual meeting of the minds. The terms, conditions, and expectations of both parties must be made clear. However, sometimes even in the best of circumstances, expectations are not met and a breach of contract occurs.
If you are starting the new year with ambitions to start your own business, you should make sure that you combine your vision for the future with actions in the present. You probably already have a good idea of your business idea and how you would like it to grow in the next few years.
Big corporations always have a team of well-paid attorneys working to keep the business on the straight-and-narrow legal path. This protects the company's interests in all kinds of disputes. If your company is a just-emerging start-up or a medium-sized business, however, you probably don't have the funds to hire your own in-house legal team.
When you are a business owner or manager, you will almost certainly need to draft contracts regularly. Contracts are a way for you to protect the interests of your business at all costs. Therefore, it goes without saying that they are very important to get right.
You have an altruistic dream that you genuinely believe could benefit humanity, solve a local crisis or address a global challenge -- and you want to raise money, get grants, and put your dream in action! A non-profit organization may be the way to go.
No business wants to become involved in a dispute. Not only can it be costly from a financial perspective, but it can also damage public perceptions of the organization, increase internal conflicts and distract from the key business goals.
When you have defined your business idea, planned your strategy and secured a sufficient amount of funding, it's time to start looking into some of the practical details regarding starting your new business. By now you should have a good idea of the way you want your business to function, but it's important that you translate your vision into concrete decisions.
If you are a business owner, it is likely that you started your business from humble beginnings and have had to grow and evolve along with your company. Having a growing business always presents new challenges, and the more successful the entity becomes, the more there is to lose.
Small- and medium-sized companies are generally highly dependent on having a healthy cash flow. This means that making sure that you are being paid by customers in a timely manner is highly important for the success of your company.
Cybersecurity can have major impacts on a small business’ long-term health. Cyberattacks are not just a concern for large companies. Businesses of any size can end up the target of such attacks. And the financial, operational and reputation damage such attacks can cause can be devastating for a small business.