If you are providing a service to your clients, you will want to hold them accountable to paying your fees. Not only that, you should clearly identify the relationship and expectations in writing. So many entrepreneurs do not know how to flush out the agreement’s terms. If a contract lacks specificity, it will fail as a legally binding agreement. As a Tampa Contract Attorney I have seen many contracts that were not specific enough to hold up in court. In the alternative, certain transactions should not be too specific, it really just depends on the industry and the transaction. Invest in a solid service agreement from the start to fully protect yourself.
Sometimes entrepreneurs find themselves in legally binding agreements that were negotiated verbally, via text messages or even via emails. It is important to speak with a business law professional anytime you are negotiating deal points of your business agreement before you start the negotiation process.
Whether you want to hire an employee or retain the services of a third party, it may be in your best interest to put it in writing. It is crucial that you identify the roles and expectations of both parties. It is also crucial that you identify whether the person retained is an independent contract or an employee from a state law perspective as well as from an IRS perspective for tax purposes.
Who qualifies as an independent contractor from a legal perspective is dependent on state specific factors. Sometimes the IRS definition is different than the state law definition. It is really important to understand that. Do not download a form online and assume that your interests are covered. They are likely not, as there is no one size fit all template.
Do you plan to get into business with another person or with another company? If so, the Benkabbou Law Firm can provide you with options. It’s really important to talk to a business law professional who can help you think of all the risks associated with a joint venture and help you make the best decision from there.
The manner in which you form this relationship can be tricky, but you can strategize on the best business relationship to undertake. You business partner is like a spouse, you can either be in a happy or a miserable marriage. Schedule a consult with a Tampa Contract Lawyer here to learn about your options.
If you have an idea for a business, it is important that you understand how to securely share your idea with others. Whether you’re dealing with your trusted best-friend or a potential investor, a proper NDA/Non-Compete Agreement should be considered at every stage of your business planning. As with every contract, there is no one size fit all and a poorly drafted agreement can cause you to end up in court as a defendant for antitrust violations. Downloading a template online can be very dangerous and cause you to lose your idea and even possible litigation.
Before you sign on the dotted line, you need to understand what you are agreeing to. I can understand the excitement and the eagerness to get your brick and mortar, but it will become a nightmare if you do not protect yourself from “landlord-friendly” leases. I have seen how a one-sided agreement can frustrate a small business.
Invest in a review of your lease to ensure that you completely understand what the landlord is responsible for and what you will be responsible for as well. There’s nothing worse than unexpected expenses in business, especially for repairs you assumed were the landlord’s responsibility.
Not sure what you need? or if you need a contract at all? Contact Salma, a Tampa Contract Attorney who can help you flush out the deal points and help you protect yourself from the onset of the business transaction. Do not give away your leveraging power unknowingly!! Schedule a consult with a business law professional here.
It is crucial for businesses to have lawyers on retainer. Legal issues not only impact the operation of your business, but also impact your bottom line. Monthly retainers allow you the flexibility to reach your attorney BEFORE you engage in any legal binding behavior that will only cost more to undo later on. Always remember that it is cheaper to be proactive than it is to be reactive.
Salma Benkabbou, Esq is licensed to practice business law in Florida since 2014, and in North Carolina, and New Jersey since 2013.