Franchising can be a quick, easy way to establish yourself in business. As a franchisee, you get instant brand recognition. For a franchisor, you receive payment on the use of your business name and, potentially, royalties on your franchisee’s profits. It seems like a win-win—unless the deal is a loser. Sometimes, the franchise agreement simply is not a match,...
For Florida entrepreneurs, contracts are an essential part of any business operation. Unfortunately, when your business relies on contracts, you can leave yourself vulnerable if your counterparty fails to hold up its end of the deal. If this happens, you may be faced with filing a lawsuit to recoup your losses. However, before going through the pain and hassle...
Business simply is not done like it was in the old days anymore. A firm handshake and a nice meal are no longer substitutes for a solidly written contract. Florida business owners now want to enter into a written contract that outlines what each party is obligated to do and what each party will receive in return. Sadly, most...
Franchises are excellent ways for entrepreneurs to enter new markets without starting a new business from scratch. Alternatively, if you have a successful business model, a way to grow your business without stretching your time and resources thin is to transform it into a franchise. The person who decides to run the franchise (the franchisee) opens a new location...
Navigate the complexities of Non-Disclosure Agreements (NDAs) and understand their duration to safeguard your business secrets effectively. Key Takeaways Non-disclosure agreements or NDAs have become a common tool in business. But not everyone is clear on how and when to use them. In particular, even individuals who have signed NDAs may be unsure of how long they last and...
Specific performance of a contract is a type of remedy that you would ask for when the other party breaches a contract. When you ask for specific performance, you are asking that the court order the parties to proceed as planned under the contract. Courts order specific performance in select circumstances—for instance, where the goods are irreplaceable or truly...
Your business relies on commercial relationships to support its operations and to sell its goods and services. Whether that relationship takes the form of an order for goods from a customer or a set of software services from an IT specialist, it is usually memorialized in a written contract. You are entitled to rely on these executed contracts, and...
A core skill set of any business person is deciding how to invest the time and resources of a business. Balancing risk assessment and return on investment follows closely behind. To memorialize these activities, businesses rely on contracts. Contracts are the backbone of commercial activity. When a contract is breached, a new set of considerations arise—the first being whether...
A sale of goods contract is one of the most important agreements a business owner can enter into. You may be writing a contract so you can offer your goods and services to customers. Or maybe you’re reviewing a new contract as you make a major purchase. In either situation, understanding what language to include (or keep out) can...
Please note this blog post is written for employers, although we understand it may be of interest to employees as well. At this time, our firm represents business owners and employers. If you need assistance with a legal matter as an employee, please consult a firm that represents employees. If your business has been sued for breach of contract,...