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Phoenix, Arizona, Business Law Blog

Make short-term and long-term plans for your business

You have worked hard to grow your business, but you aren't going to be able to take it with you when you pass away. Instead, you need to ensure that you are making plans today that can set up the business in a way that will be able to help support your family if something does happen to you. As a responsible business owner and loving family member, you are probably thinking that you need to get something done right away to encourage everything to transfer over smoothly when you do pass away.

Succession planning is the way that you can get this done. This plan isn't one simple plan. Instead, it is comprehensive plan that must include instructions for short-term issues, such as you becoming incapacitated, and long-term issues, such as death.

Is a limited partnership the best way to form your business?

Starting a business requires making a variety of decisions. One that could affect numerous aspects of it involves your choice of entity type. The legal structure under which you form your company dictates how you will deal with taxes, personal liability and other issues.

Your choice of entity also affects the amount of federal and Arizona laws to which your business must adhere. For instance, reporting and documentation requirements are more stringent for corporations than they are for sole proprietorships, but the personal protections also vary widely. You may be looking for some middle ground, and a limited partnership may fit that bill.

Breaking a contract can mean facing legal action

Signing a contract means that you are agreeing to the terms of contract. This means that you agree to keeping your end of the deal or you will have to comply with the penalties that are included in the contract. When a contract isn't complied with, either or both of the parties can file a legal claim in civil court for breach of contract.

There are two types of breaches that can occur with contracts. One is a minor breach, which means that there aren't any serious repercussions of the breach. The other is a material breach, which means that the one of the parties had to deal with serious repercussions or a different result than what was expected from the contract.

Take action when there are issues with construction projects

Starting a construction project is a big endeavor. You have a lot to think about when you are in the midst of this process. It is imperative that you take the time to review the plans so that you can determine what you should expect throughout it.

There are times when everything goes as planned and you don't have to worry about anything. Those are the cases that everyone hopes to have. In other instances, there are problems that place a dark shadow on the project. These are the ones that might ultimately result in a construction law claim.

The scope of a construction issue determines the necessary action

Construction projects have a lot of variables that must be taken into consideration throughout the course of the project. Issues that occur during the process can cause frustration for the person who commissioned the project. In some cases, the issues that occur are more than just a minor inconvenience and will dictate the need to take action.

The type of action that you take must be carefully considered. Here are a few points to consider when you are dealing with headaches because of a construction project.

The property buying process requires homework

Just about everything that has to do with purchasing or leasing property will take quite a bit of work. You have to make sure that you are doing what is best for your family so that they can move forward and flourish.

The business transactions that include real estate are likely going to be some of the biggest transactions that your company makes. When you think about it in that way, you can see why it is important for you to ensure you are doing the right things. It is imperative that you consider everything that might happen and delve deeply into the terms of the contract you are signing.

Know the zoning codes in your area

One of the most important things you can do when you find a property for your business is ensure that the zoning laws covering the property are suitable for your business. If the zoning doesn't match what you need for your business, you might need to take action to correct the situation or you could face the possibility of not being able to open your business there.

One thing that you should remember is that different municipalities might use codes that are similar but not exactly the same as others. This means that you must ensure that you fully understand what is being stated in the municipality where the property is located.

Keep your dispute 'off the books' with arbitration

In some disputes, sitting across the table and hammering out a solution just isn't feasible. If you tried this approach it didn't work, you may now be considering litigation, but you don't necessarily want the potential "bad press" that airing your dispute in a public forum may bring.

Since your efforts to work out your issues amicably didn't produce a satisfactory settlement, you may not want to attempt mediation. Because of this, you may think that litigation is your next step. Of course, you have every right to file a lawsuit, but there could be another way to keep your dispute private -- arbitration.

Reviewing transactions is necessary in business

Each transaction that is handled in the course of your business is one that can either help your business or harm your business. This means that each one needs to be handled properly and in a way that is in the best interests of the company. It is imperative that all business owners take a personal interest in how their company is handling these transactions.

We realize that your company might have thousands of transactions on a daily basis. This is something that can make it difficult for you to review each one. In most cases, this isn't something that is going to be necessary if you have a high volume transaction. Instead, you will have to focus on larger transactions while you spot check the smaller ones.

A business plan starts your business off on the right foot

Before you get your business going, you need to set up your business plan. This is a road map that gives you the direction of your business. It is something you can look back on when you need to regroup and refocus to keep your company moving forward.

One of the most important parts of the business plan has to do with the money. You need to be sure that your business is going to make money. This means that you have to make plans carefully about all of this.

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