A business contract dispute can be an extremely stressful and complicated situation, and the attorneys at Bailey & Peterson, P.C. work hard to make the process easier for you.
The best way to avoid dealing with a contract dispute is to ensure that the contract is properly prepared from the start. It is important that the contract is drafted correctly and that all of the terms of the business agreement are clearly stated.
One of the most important steps to take in preparing a contract is to make sure both parties to the contract are aware of what their responsibilities are, what the consequences will be if either party fails to live up to their end of the bargain, and what the remedies will be if one party needs to pursue a legal claim. Any grey area or uncertainty leaves room for interpretation and argument, which can cause lengthy and expensive litigation. For an expertly drafted contract, it's best to have an attorney create and/or review to make sure you are protected.
Just because you’re starting a small business doesn’t mean that you want your business to stay small. Depending on what you want to market, you may envision your business growing into something much bigger. A “startup” can be any company in the early stages of development, but the main difference between a typical small business and a startup is that the latter is focused on growth.
Generally, a startup is a business venture launched by either 1 person or a small founding team of entrepreneurs who seek to fill a gap or create a new niche in the market with a certain product or service. A startup may be financed by its founders or may try to attract outside funding through friends, venture capitalists, or lenders, and each of those funding options will carry different risks and require different strategies.
When it comes to choosing a business structure for your startup, there is no one right answer. You should consider factors such as financial projections, goals, and risks as well as local, state, and federal laws before deciding which structure suits your needs. You should carefully consider the advantages and disadvantages each business entity can offer your new company. An experienced attorney can help you understand the pros and cons of each as they apply to you.