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Business & Commercial Law Archives

Here are some of the things you need to do to open a business

If you want to form a business, there are some things you need to do. Making sure you complete the tasks you're responsible for in order helps your business come together quickly and in accordance with the law.

What is a confidentiality agreement?

If you're running a business, one of the things you may ask new employees to sign is a confidentiality agreement. With this agreement, you're asking that the employees do not talk about the work you do. If someone breaches this agreement, then you have a right to legal action against him or her in most cases.

Get your business started right with the right advice

Business and commercial law are areas of law that often overlap. If you're opening a business and intend to sell items commercially, then you may need help from an attorney who understands both business and commercial law, for example.

Protecting your intellectual property is vital

Intellectual property is an important part of business; it can be an idea that spurs you into production or the basis for a new story or movie. Whatever your intellectual property is, it's necessary to protect it from infrigement. Here are a few tips for steps to take to make sure you protect the important property you own.

A contract was breached. What happens now?

Business, organizations and individuals enter into contracts all of the time, and when they do so, the parties involved may not fully realize the ramifications of the deal to which they have agreed. Breaking, or "breaching," the contract in any way can lead to the other party (or parties) in the deal seeking financial or performance retribution from the breaching party.

Regulators are becoming stricter on mergers and acquisitions

As companies grow in the Twin Cities, they will most likely employ various methods to increase market share and decrease competition. For some, this could be achieved by simply increasing production of a proprietary or exceptional product. However, for many companies who are in a more competitive landscape, they may decide that the only way to move forward is to seek mergers and acquisitions with other like-minded and successful companies.

Going to court or arbitration?

Arbitration agreements, like most contracts, require specific behavior to make them enforceable. If you contract to take deliveries on the first of the month, but don't receive them until two or three weeks pass, and you fail to object, you may be considered to have waived that delivery provision. If this course of conduct goes on for a year or two, you may have a very difficult time enforcing that deadline.

Your relationship with an attorney

Many businesses seem to view an attorney in the same light as a firefighter; glad they are available, but they would rather not need them. If you can successfully run your business without availing yourself of the services of an attorney, that may be fortunate, but it may only be a testament to your good luck.

How organized are your records?

Operating any business will generate documents. From purchase orders and invoices to planning documents and correspondence, your business will produce and accumulate a variety of documents, both on paper and electronically during the course of a year. The larger your business, the greater the number and scope of those records.

Do you need a confidentially agreement?

For most businesses, it is essential for the employees and employer to have a relationship of trust. Employees should recognize that when the business does well, they will do well and they all have an interest in the success of the business.