Why Some Partnerships are Especially Vulnerable to Lawsuits

When starting out on a business venture, no matter the size or industry involved, it’s critical to determine which type of structure that business is going to fall under. They all have their perks — and their pitfalls.

One of the key factors that business owners take into consideration when making this decision is the likelihood of future litigation — because when it comes to business defense, some structures offer less protection than others. Here’s why some partnerships are especially vulnerable to lawsuits.

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Contract Clauses: The Good, The Bad, and The Ugly

A contract is essentially nothing more than a long series of provisions detailing what can and must (or can’t and mustn’t) be done prior to, during, and/or after the conclusion of a business deal. Some provisions and clauses are standard operating procedure — phrases like “time of performance,” and “statute of limitations” appear again and again in contracts across dozens of industries. But every so often, less familiar provisions pop up — and they can range from the outrageously unfair to the plain bizarre.

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Mediation, Arbitration, or Litigation?

Litigation is far and away the most well-known form of legal dispute resolution. We know what lawyers and trials are from the time we are children, and reports of the latest lawsuits and class actions constantly leak from the television, radio, and internet. However, while litigation may prominent, it is not always the best option. Sometimes, it makes more sense to resort to mediation or arbitration to settle a legal issue.

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Are Business Contracts Set in Stone?

We tend to think of contracts as being irreversible decrees which are not eligible for alteration or deviation in any form. However, this is not exactly true. Contracts can be modified — sometimes, without you even knowing it. Whether a change in a business contract is something you’re avoiding or striving toward, here’s what you need to know about business contract modification.

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Is it Time to File a Judgment Lien?

We always enter into business deals on the premise that both parties will comply with all of the rules and regulations agreed upon in the relevant contracts — no one voluntarily takes part in a deal thinking it is going to turn sour. But, unfortunately, that is what can sometimes happen; and when it does, your business suffers. If your company is attempting to recover losses after a payment or promised service has been neglected, filing a judgment lien might be a suitable course of action.

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What to Do if Your Client Breaks Their Contract

Whether the context is starting a business, buying a house, or signing on at a new job, it’s difficult to understate the importance of a contract. Even the word itself has wended its way into the American psyche as a thing of utmost gravity, with severe consequences if its conditions are broken. But, despite the significance many of us attach to these documents, sometimes a contract is disregarded all the same. If you’re a business and your client breaks their contract, what can you do?

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The Loophole Game: Contract Loopholes to Look Out for

In July of 2013, the Pennsylvania House of Representatives passed House Bill 465 with the aim of closing the “Delaware Loophole.” Formerly, this language had essentially allowed businesses to move their assets to companies out-of-state in order to minimize taxes. The Delaware Loophole is just one example of a well-cloaked danger that has the potential to quietly invade any contract. Like pests on crops, loopholes are hardly noticeable — until they’ve done their damage. You need to be vigilant, and in order to be vigilant, you need to know what you’re looking for.

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