Business partners should observe the terms of their partnership agreement. This includes contributing to the business by performing the required duties and making agreed-upon financial contributions. A partner who does not contribute to the company may be breaching...
Business Law
Does 50-50 ownership matter in a business partnership?
It is important to draft a partnership agreement when going into business with someone else. One of the common reasons for this document is that it helps define ownership shares. Many partnerships are split 50-50, but not always. That said, why does the ownership...
What can you do if a subcontractor isn’t up to snuff?
In the construction industry, a project is only as strong as the people working on it. When a subcontractor fails to meet expectations -- whether through subpar workmanship, missed deadlines or contract violations -- their approach can result in costly delays and...
Potential remedies for breach of contract
All business activities in Texas are regulated by contracts. Contracts outline the rights and obligations of all parties. For the most part, the terms of a contract are honored and business goes smoothly. Unfortunately, that isn’t always the case. Contracts can be...
3 potential options to enforce a judgment against a debtor
It is no small feat for a business to successfully navigate the maze of commercial litigation and emerge with a judgment against a debtor. However, the battle does not end with the court’s decision. The real challenge begins with enforcing the judgment and collecting...
3 potential examples of a contract breach
A contract breach can be complicated to sort out, but there are legal options. It starts with identifying exactly how the contract has been broken. From there, you can determine liability and connect that to any potential harm that was suffered. Every situation is...
Do you need a partner?
You likely wear many hats throughout your day if you're a business owner. Human resources, operations, purchasing, finance - you handle all of it. While running your own business is exhilarating, it's also overwhelming. Now may be the time to ask yourself, "Is it time...
Biggest mistakes to avoid when handling contract disputes
Even with countless mitigation tactics in place, your business cannot be invulnerable to contract disputes. That said, the more pressing concern is knowing how to handle this kind of problem effectively. First, you must know what mistakes to avoid when facing a...
3 questions to ask when starting a new business
People have a variety of reasons for starting a business. Maybe you have an excellent business idea and you’re excited to see how it pans out. Maybe you’re tired of working at someone else’s company and you want to start one that you own. Regardless of specific...
Why do commercial leasers need to understand zoning laws?
As a business owner looking for premises to lease, you need to be aware of many issues. One of those is the zoning restrictions relevant to the particular area. There is no point in finding a space to rent that you can imagine as just right for your business if you...