Business Law Professionals
2 reasons partnership agreements should clearly state ownership
Ownership percentages should be clearly laid out in a partnership agreement. They can be stated along with details like how profits should be split, how much investment is necessary, what roles each partner will have within the business, and much more. This is often a...
Can an email change a signed business contract?
You signed a contract to supply 500 items for a set price. Later, the customer requests 100 more, and you discuss a higher total through email. You deliver the extra items, but the customer pays only the original price, which disrupts your cash flow. Under New Jersey...
Your partnership can end without shuttering your business
If you and a business partner started your company together, you may consider the dissolution of that partnership to be the end of the business. If the two of you decide not to work together anymore, you will simply have to close your doors. This can be necessary in...
Choosing the right business structure in New Jersey: LLC vs. Corporation vs. Partnership
New Jersey business owners often weigh the flexibility of a limited liability company against the stricter oversight of a corporation. New Jersey business formation also includes the general partnership, which requires no state filing. Each structure sets different...
Consumer confusion and intellectual property
Business litigation sometimes happens because one company is accused by another of deceiving consumers. At the heart of the issue is often an intellectual property (IP) violation. Maybe one company is operating under a very similar name as another, for example, or has...
Financial infidelity between business partners
Financial infidelity is something that is often talked about in the context of marriage. It generally just means that couples are not honest with each other about their finances. A person’s spouse may lie to them about spending, debt, or income levels, for example....
When a vendor abruptly increases their prices
Working with specific vendors can help organizations keep their costs predictable. A long-term vendor contract can protect a client organization from unpredictable costs or an inability to source key goods or materials. They can potentially rely on regular deliveries...
2 reasons business partners should have complementary skills
When someone is looking for a business partner, there is often a natural inclination to look for someone who is similar to themselves. It is easier for them to get along; they see things the same way, they are more likely to have similar goals and their visions for...
3 steps to handle partner debt in business divorce
When business partners separate, dividing shared debt creates tension. Unpaid company debt can leave you personally responsible for balances long after you leave the business. Taking clear legal steps to divide debt protects your personal bank account. Conduct a...
Disputes arising from ambiguity in business contracts
Many business divorces stem from contract disputes. Cases of co-owners, partners or shareholders ending a business relationship because of contract-related issues are common. Disagreements typically involve day-to-day operations, profit distribution, compensation,...
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