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How Will You Try to Resolve Your Contract Dispute?

For many businesses in Texas, contracts are the bedrock of relationships with suppliers, vendors, marketing teams and customers – among many other potential business relationships. Each contract is usually unique, with unique parties and unique terms. And, unfortunately, it is not uncommon for disputes about contracts to arise from time to time. So, when a contract dispute arises and impacts your business, how will you try to resolve the issue?

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Succession Planning Needed for Small Business

According to estimates, 70 percent of family-owned businesses do not last into the second generation and 90 percent do not survive into the third generation. Family-owned, private, or owner-managed businesses should develop a strategic succession plan as part of their early business formation and planning.

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What Is Business Continuity Planning?

If the recent freezing weather and events from 2020 taught any lessons, it is that business must be prepared for almost anything. Many business organizations engage in strategic business continuity planning to create a system of prevention and recovery from potential threats.

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What Does Your Employment Contract Cover?

It can be tempting for a Texas resident to sign an employment contract as soon as it is presented to them. Given the current tough economic times, few want to go through the fine print of a contract, as long as it has the basics included.

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Things to Consider when Drafting Employment Contract Provisions

As workplaces become increasingly specialized and more states are moving to “at-will” employment, employers and employees are commonly using employment contracts to give both some semblance of stability. While these can be oral, the usual course of action is to have a written employment contract. However, there are provisions that should be considered.

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Be Wary of Oral Business Transactions

Businesses can face a number of legal issues, with many of them pertaining to contracts. While the best way to avoid contractual problems is to competently negotiate and draft them in the first place, even well written agreements can lead to conflict when the parties don’t live up to their obligations under the contract’s terms. But what about verbal agreements? Can those be deemed legally enforceable? These are questions that many small business owners have when they’ve been operating on word of mouth and something goes wrong.

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Is a Sole Proprietorship the Right Business Formation for Me?

By nature, Texans are self-reliant and want to have control over their own future. This is rarely more evident than when a person is moving forward with a business endeavor and selling services, goods or products. The technical and legal aspects of starting a business can be confusing. Understanding what is necessary with business formation and planning is an integral part of adhering to the law and being fully protected. For those who are unsure of how to start, it is wise to understand the basics of creating a business. If one person is overseeing the entire business, a sole proprietorship could be the best option.

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Important Requirements for Business Contracts

Business contracts underlie most business relationships. For that reason, it is helpful to know what the requirements are for a valid business contract to help avoid disputes and respond to them when they arise and help preserve important business relationships.

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Is a Non-Competition Agreement Right for You?

Securing top talent can be tricky in today’s market, especially if you’re looking for someone with specialized skills. You might also be hesitant to give an employee access to sensitive information that gives you an edge over your competitors. After all, an employee can just leave and take that information with him or her to another employer, right? Not necessarily.

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Using a Buy-Sell Agreement to Avoid Shareholder Disputes

When two or more individuals own a business that is or may be on the brink of success, they may decide to choose a formal entity for the business. If shares are split equally between the shareholders, say 50/50 or 20/20/20/20/20, the potential for corporate deadlock is obvious. If share are not split equally, say 60/40, 75/25 or 50/25/25, the potential for shareholder oppression is likewise obvious.

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