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When you’re negotiating (or signing) a commercial lease, it’s extremely important to read every single line of the contract as carefully as possible. One item to which you need to pay particular attention is the rent escalation clause (because there’s bound to be...
Every builder has their own horror story of how scope creep annihilated their profit margin on a job. But typically, it is a lesson that is quickly learned and not repeated. "Scoop creep" is the term used for a building project that seems to morph past its original...
Business disputes come in all shapes and sizes. You could be the one initiating the claim or defending against someone else's spurious claims. Maybe a former employee just tried to open a competing business in clear violation of their contract with you. Perhaps a...
When you rent commercially, you have a lease that details your rights and responsibilities. Your lease will also discuss what the landlord is obligated to do for you. Naturally, you want a lease that works in your favor (whenever possible) or is fair. Negotiating a...
When people draw up a partnership agreement, they need to provide complete and accurate information in their disclosures to the best of their ability. If one partner deliberately deceives the other(s), that can constitute fraud and make the entire agreement null and...
Erecting a new building or remodeling an existing one is often a complex process. The flow of funding from one party to another often depends on contracts and the completion of various stages of the work. As someone who runs a business that supplies construction...
Since 1982, the Prompt Pay Act has been in place to require federal agencies to make payments on time. When they are not made in a timely manner, interest builds. According to the Prompt Pay Act, every proper invoice must be paid with 30 days of its receipt. If an...
As a contractor, you know that the success or failure of a building project is in your hands. If something goes wrong, you could end up with a very unhappy client -- and a project that is delayed or otherwise ruined. Construction defects cost you time and money, and...
Entering into a partnership is a big decision. If everything works out as planned, it can benefit you and your new company in a variety of ways. Conversely, if your partnership is doomed from the start, it won’t be long before your business is heading down the same...
Abraham Lincoln’s advice to lawyers was “Discourage litigation. Persuade your neighbor to compromise wherever you can.” While litigation has its place, it is not always the best option. When you put your future in the hands of a court, there is always the chance they...