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Most people don’t take time to read the contracts they sign. That’s dangerous because your signature is taken for an admission that you’ve read the document. As your business grows and you begin outsource, you’ll hire a good business attorney to handle contract review and negotiations for you. Until then, you need to be responsible. Unfortunately, many contracts seem daunting because of their length and because you don’t know what to look for. So for the hurried entrepreneur who doesn’t have a lawyer, here are the seven must-read sections in contracts you are asked to sign. What are each party’s duties? When someone Continue Reading →
When you’re just beginning as an entrepreneur, you are not only the chief operating officer of your company, but you also haul your own trash and write your own contracts. While being your own trash collector might not harm you if you do it incorrectly, being your own business lawyer could eat your money unless you learn some basics about writing contracts. Here are seven things that could help you when drafting your own agreements. Start with templates. Even lawyers rarely draft contract from scratch. There are many online services that will sell you basic contract templates for $25-$75. Buy several Continue Reading →
Learn More about Relationship Management
Scenario 1: You get a call from a long time contact you’d almost forgotten about. He tells about a great business opportunity that could be very lucrative. It’s a deal that might be put through your company because it’s close to the kind of things the company does. And you wouldn’t have even heard about it if you had not been in the position of CEO. But you are thinking of creating a separate company to handle it, one in which you would own 100%. Scenario 2: You’re negotiating the sale of the company you run and in which you own the vast majority of the Continue Reading →
Most small business owners focus on generating sales. After all you need income to survive. But there is another extremely critical function only the business owner can address, and that is building the value of the company, by which I mean the company’s protected competitive advantage. Consider potential buyers of your company. They look at current sales and wonder, What guarantees do I have that sales will remain at this level or higher? What are the potential sources of attack on this company’s current competitive advantage? How will my investment in buying this company be protected from those attacks? If you don’t Continue Reading →
PNC Bank is reporting results from a survey of small business owners. Here’s a summary: Sales are weak, and 18% are optimistic about the next 6 months, while 24% are pessimistic. Only 20% of small business owners plan to hire over the next six months. But about one-third plan to raise prices, and 40% expect sales to increase , 29% expect profits to increase, and 61% plan some capital spending. A cursory glance at the way PNC reports their own results would lead you to believe that small business owners are in the doldrums. In fact, a deeper look reveals that there is little consensus over Continue Reading →
The Purpose of Argent Place Law
Argent Place Law, PLLC serves businesses and business leaders in matters of business law, intellectual property law, and succession planning. Business law issues include contracts with customers, vendors, and partners as well as corporate law and corporate governance. Intellectual Property law issues include filings and strategic licensing for trademarks, patents and copyrights, and how to manage trade secrets. Succession planning incorporates business planning for an equity sale or asset sale as well as the integration of the business succession plan with personal estate planning through wills and trusts.