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Phoenix, Arizona, Business Law Blog

Do you have a solid partnership agreement in place?

Few things can cause as much dissension in a business relationship as a partnership agreement that is unfairly weighted in one direction or that fails to address common issues.

When partnership disputes arise, the partnership agreement should detail a path to their resolution, as well as provide guidelines for branding, corporate culture, growth strategies and other management philosophies.

Is an alternative to litigation right for your business dispute?

When running a business, you may find yourself having to deal with different conflicts on a daily basis. Though many of those conflicts may be easily resolved with discussion and explanation, other issues may need a more formal approach. Because you undoubtedly want to ensure that your company remains protected from any problems that could cause unnecessary complications, finding the best way to address serious problems may work in your favor.

In some cases, you may have an issue that requires legal attention to remedy. At first consideration, you could think that courtroom litigation is the only option available for addressing the conflict. However, certain alternative dispute resolution methods, like mediation or arbitration, could better suit your particular circumstances.

Fight for your rights in commercial real estate issues

For most people, real estate transactions are some of the most costly they will ever encounter. When you are dealing with these transactions for your business, you are dealing with something that can benefit your company if the transaction is a good one. If it isn't a good one, your company can suffer greatly.

We understand that you might need to have a second set of eyes check out the contracts that you have for these transactions. We can go over everything with you to make sure that your interests are protected in each one.

In search of the perfect partner

If your business is doing well, you are likely feeling satisfied and proud of yourself. You may also be exhausted. Perhaps the time is right to expand your business, but you don't have the finances or ability to do it on your own. Now may be the time to consider taking on a partner.

A partner can change the entire dynamic of your business, for better or worse, so choosing the right person is crucial. You certainly want your partner to have the capital to help you achieve your goals, but just because someone offers you money doesn't mean that person has the best interests of your company at heart. There are other qualities a partner should have that are just as important as money to your business.

Know how to review your commercial lease

Trying to find a rental space for your company is often a test in patience. You have to find a space that is within your budget and can meet your needs for location and structure. This is often a challenge, but it usually isn't impossible.

Once you find the perfect rental space for your company, you will need to work out the terms with the landlord and set the lease. This might be even more frustrating than the process of finding the location.

Think about personal and business matters when planning an estate

We recently discussed some of the important points of creating a succession plan for your business. This is an important part of a small business owner's estate plan, but it isn't the only thing that should be in the plan. Instead, you have to take the time to make plans for your personal assets.

One thing that you might not realize is that your estate might be tied up for a bit, even if it doesn't have to go through probate. You should try to work things out now so that your family members can have the financial support they need in the immediate period after your death.

Create succession plans that make your wishes known

Have you thought about what is going to happen to your small business when you die? If not, you shouldn't think that you have all the time in the world to make these plans.

The plans that you make for your business are known as succession plans. These lay out who is going to take over your responsibilities and what is going to happen to the business.

Protect your investment from substandard work

You want the structures you have had built to be built how they are supposed to be built. The last thing you want is to find out that the contractor you used didn't use suitable materials or work methods. When you do find out that something is amiss, you need to take action quickly.

Construction litigation is one of the options that you have when the contractor doesn't do things the way they should have been done. Whether your issue is with the planning phase or with the actual building process, you can take action to get the issue corrected.

Don't get stuck holding the contractor's bag

You may have lived in your current Arizona home for more than a decade before you were able to think about investing in some home improvement projects. Did you buy a fixer-upper? If so, you may fondly recall the dreams you and your spouse had when you took your first steps through the house you later came to love as home. You knew there would be months, perhaps years of work ahead, but you saw it as an opportunity to create your dream house, together.

As time went on, life may have thrown a few curve balls your way, as it often does for most people. While you were doing your best to make ends meet, you put your home improvement projects on hold. Once you finally were able to re-do your kitchen, you hoped everything would go as planned, and it did; that is, until your general contractor failed to pay the supplier for your cabinetry. Now, you're facing a mechanic's lien on your home.

Considerations: A crucial concept in construction contracts

When you hire someone to do construction work for you, chances are good that you will have to sign a construction contract with that company or individual. You should make sure that you read over the terms of the contract carefully so that you know what types of remedies and limitations there are for the project.

One thing that you must review are the considerations. Considerations are what you provide to an entity or person in exchange for something, e.g., money for construction of a home or building. For instance, if you agree to pay the contractor $30,000 to build a new addition on your home, a consideration exists. If the contractor agrees to build a new addition to your home but you don't agree to pay anything, there isn't a consideration.

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