There are many reasons why you or your company should consider adding a contingency clause or provision in you contracts. These provisions can be easily overlooked before entering into a binding agreement. However, it should garner more importance since it can be used as a type of "escape clause" for your formal agreements. A contingency clause is a contract condition that requires a specific event or action to take place for the contract to be considered valid. If the events or actions do not satisfy the contingency clause, the parties will be released from the contract's obligations.
A non-compete agreement aids businesses in protecting sensitive information. A well written non-compete agreement can protect a business' interests in many scenarios. This information can range between a wide variety of business aspects which include strategies, financial info, specialized training, clientele - you name it. These types of agreements are important for any business that employs people who are subject to sensitive information. We've discussed the most recent changes to Nevada non-compete agreements in a previous blog (Is Your Nevada Non-Compete Agreement Still Valid?) and today we'll go into more detail as to what you would want in a non-compete agreement as a business owner.
We've mentioned operating agreements in a few blogs, and we thought we'd go over it in more detail in this entry. What is an operating agreement and why does my LLC need one? An operating agreement is a key document for an LLC with a sound legal foundation. An agreement that is acceptable to all managing members of the LLC, even if you are a sole member of the LLC, will help your business run as it was intended. Well written operating agreements should give the LLC members peace of mind. We'll map out the basics of a good operating agreement below.
Earlier in the year, we talked about things to consider before signing your commercial lease. However, we didn't dive into understanding your lease or cover the common mistakes business owners make before signing their lease. As you read this, keep in mind that a lease between a landlord and tenant can supersede certain sections of Nevada law to the extent of any conflict. Since a lease can have an enormous influence on your business, we thought it would be best to follow up on this topic. In this blog, we'll discuss the key points you'll want to keep track of as you review your commercial lease.
Every business owner has signed an agreement at one point or another. In a perfect world, these agreements would always be executed as they're agreed upon. However, everyone knows that contracts are breached and agreements aren't honored all the time. These disputes and incongruities can lead to more trouble, headaches, and lawsuits more often than not. One thing is certain, when these issues arise, all parties are faced with potentially higher fees and costs than they initially anticipated. As a business owner, it's imperative to find a way to mitigate the cost of these issues when they do arise. So, how is this done?
It wasn't long ago when documents weren't saved on a hard drive, a server, or sent via email. Today's businesses have gotten very good at going paperless and as a result have gotten more efficient. E-signatures are a big part of the efficiency and are essential for people on the go. They are common now but there are still some lingering questions related to e-signatures.
Navigating the different types of business contracts can be a bit complicated. You will certainly want to ensure that you have a contract lawyer in Las Vegas to review important paperwork before it is signed and therefore becomes enforceable.