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Phoenix, Arizona, Business Law Blog

Make sure your nondisclosure agreements protect your company

A confidentiality agreement between an employee and an employer must be followed exactly as it is written. These documents usually have very strict terms about what each party is allowed to share, so all parties must be careful about what they say regarding the business. These contracts also have stipulations about what will happen if the agreement is broken.

While companies might want to protect their business as much as possible, not all situations will require a nondisclosure agreement. One example of this is when you are trying to raise funds for your business through the use of a venture capitalist. Most of these individuals won't be willing to sign this agreement in connection with their investment.

Get everything in order for a commercial real estate deal

Commercial real estate is often more costly than residential options. Companies will spend what they need to get the spaces they want, but this can pose interesting challenges along the way. It is imperative to find a buyer and seller who are on the same wavelength so that the transaction can be done as quickly and easily as possible.

There are many things that go into these deals. No matter which end you are on, you need to protect your interests so that you aren't walking away from the deal wondering if you made the right decision.

Choose an executor based on their ability to do the duties

As a small business owner, you have a lot of people who rely on you for support. When you are creating your estate plan, you have to think about your family members, but you can't leave out your workers. It is imperative that you make plans in the estate plan that can set everyone up with what they need in the future.

One thing that you are going to have to think carefully about is who you are going to name as the executor of your estate. This is someone who will have control over the estate after you pass away. It is a job that comes with great responsibilities that can't be mishandled in any manner. Mistakes by an executor could mean that the probate process is drawn out longer and can become more expensive.

Broken commercial leases can come with a financial burden

Breaking a commercial lease can hold a big financial liability, so you need to understand your responsibilities if you have one and need to do away with it. One of the first things that you need to do in these cases is to review the lease to find out what terms apply to a broken lease. If your company is planning on moving to a new location or something similar, you might find out if you can sublease the current space. This could significantly reduce your financial liability.

Some landlords won't allow a sublease. If you notice this in the contract, find out if there is any reduction in your financial penalty if you find the landlord a new tenant who can move in so that there isn't any lack of income for the space. If your landlord agrees to this, have it put in writing so there aren't any disputes down the road.

What is a shareholder derivative action?

As a shareholder, you may keep a close eye on the performance of the company in which you invested. You expect its directors, officers and board to meet their duties and obligations to the company and to you.

If you discover this isn't happening, you may speak up and find yourself in a dispute with the corporation. Fortunately, one of your rights as a shareholder is to sue an officer and/or director of the company who you believe is causing it harm through some sort of wrongdoing such as mismanagement.

Jump into action if your business faces legal issues

Many things can lead to a company being taken to court. One thing is certain when you are in business, you can't foresee everything that will happen. You can try your hardest to ensure that you aren't going to be taken to court, but that doesn't mean that your efforts will result in you having a business that hasn't ever gone through litigation. We are here to review your case and look into how we might address the claims against you.

If you do find out that your company is facing legal action, you need to jump into action. The first thing that you need to do is to find out what the action means. From there, you can learn about your options for handling matters. This might not be easy, but we are here to work with you to determine what option you need to move toward.

Construction delays come from many factors

Construction delays are a normal part of running one of these businesses. One thing that reputable contractors have going for them is that they don't let regular events that might delay the project have any impact on the clients. Because they should have plenty of experience with these delays, they should be able to work the ones they expect into the contract.

Some of the most common reasons for delays in construction can be handled by the contractor, but others are out of their control. Having contingency plans in place is beneficial and can help keep the clients happy.

Creating a business plan is important to forming a business

When you first had your idea for a product or service on which you believed you could form a business, it likely nagged at your mind for weeks or months before you decided it was viable. Now, you feel ready to start taking the steps necessary to get your business off the ground. Where should you start?

Before you can jump right into opening a business, you need to address many tasks. You will likely put a great deal of work into your business before you can even call it a business. Of course, the majority of entrepreneurs start in this type of situation, and having a business plan can prove immensely useful.

Review your options when starting a new business

Taking the time to consider the various legal structures that your business can use can benefit you greatly -- just like having the wrong one can cause problems. Here are a few important things to consider as you start.

The structure that you choose for the company is hugely important for tax purposes. This is one aspect of the decision that you have to think about because it can have a big impact on your business. When you are going over the tax implications and other points of choosing a business structure, our office is here to help you determine how things will impact you and your company.

Construction delays can cost you money

Delays in construction are a common occurrence that can have a negative impact on the completion day of the project. Contractors should plan for some level of delay, but there are sometimes things that can't be helped. Even then, the burden falls on the contractor to decide what they need to do. These individuals have a contractual obligation to handle things on time so that you don't have any financial losses because of the delays.

One of the most common delays that might occur in construction is the weather. Poor weather, including rain or flooding, can make it impossible to get outdoor aspects of the project done. This is one of those situations that should have a contingency plan in place.

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