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May 2019 Archives

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.

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.

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.

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.

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