PEAK LAW has more than 15 years of business to business transaction experience. This includes:
- Commercial agreements
- Purchase and sale agreements
- Commercial leases
- Employment Agreements and federal regulatory issues just to name a few areas.Contracts
Contract law affects nearly every business. Contracts might formalize agreements between a business and its clients, other businesses, or the owners themselves. Many people do not realize that a contract can exist between two parties even if nothing is in writing. Although there are some exceptions, once the four elements of a contract are satisfied, there may be an enforceable and binding contract, regardless of whether the terms were reduced to paper.
Starting your own business involves making several decisions at the outset, with one of the most important ones being which corporate form you will choose. For individuals who plan to run a small business on their own, it may make sense to operate as a sole proprietorship. Partnerships and limited partnerships are options when multiple stakeholders are involved, as are limited liability companies (LLCs), which provide added protection against owner liability. Some business owners are best served by forming a corporation, which is generally a completely separate entity from the individual owners in terms of liability and taxes. Regardless of the corporate form that is the best fit for you, there are other important considerations that you will need to take into account when starting a business, such as where your business will be based, and what kinds of licenses, permits, and insurance you will need in order to operate.
Even in the course of a business’ normal operation, disputes with another company may arise. One of the most common business disputes is breach of contract. Depending on the circumstances of the dispute, an owner may attempt to resolve it through a formal process, such as litigation, mediation, or arbitration. Other times, a dispute can be handled with a simple demand letter, direct negotiation between company representatives, or communication via each party’s legal counsel.
The best way to prevent a business dispute is to reduce all business agreements to writing. While handshake agreements are sometimes necessary to close a deal, they should always be followed up with a written agreement between the parties so that each business is aware of its obligations under the contract.