For most any business contracts play an important role. Accordingly, it is vital that every contract entered into is a solid, “good” contract. The failure to make sure this occurs, can seriously impact the business’s ability to turn a profit. But what constitutes a good contract? In this post we will discuss just a few of the things that businesses should consider including in a contract.
Many Orlando businesses do not own the building or land they operate on. They lease the property from the owner, which can be beneficial in terms of flexibility and cost. For their part, the property owner gets to profit from having tenants.
As with renting residential property like apartments, the landlord-tenant relationship when commercial real estate is involved is governed in large part by the lease. In addition, if certain elements are missing from the lease, state law steps in. In this way, both parties have rights and obligations, and any infringement on those rights and duties could trigger a breach of contract.
For any business to succeed a variety of things must work together. Depending on the business it is possible that a trade secret will be one of those things. These could take many different forms including:
- Strategies for advertising.
- Manufacturing processes.
- Client lists.
- Supplier lists.
- Consumer profiles.
- Distribution methods.
- Sales methods.
While many businesses may have these, they not understand what to do if they are infringed. Readers may be surprised to learn that registration is not required for a trade secret infringement to be actionable. This is beneficial to the holder of the trade secret since it means there is no limit on how long it can be protected.
While some people who live in the state of Florida are equipped to undertake repairs and additions to their homes or businesses, many are not in that situation. This means that in order to get anything done they will have to hire someone to do it for them. When this happens the contractor and property owner enter into a contract. While the work is often completed as expected, in other situations things do not go as planned and a property owner may decide to pursue a legal claim against the contractor. In this post we will discuss when this might be a good approach.
Earlier this month individuals who subscribe to Dish Network for satellite television may have experienced a blackout of CBS programming which lasted for 12 hours. A technical glitch was not to blame for this outage. Instead, a contractual dispute between the two prompted the network to go off the air for a time. The programming was restored as soon as the dispute was resolved.
Disputes such as this one are not all that uncommon currently. As networks are seeking to maintain digital rights to their programming and receive higher rates, distributors are trying to continue to make money by keeping a lid on programming costs. The desire for both sides to make a profit can result in difficulties reaching an agreement.
Businesses located in the Orlando, Florida, area are organized in different ways. Depending on the goals of the business it is possible that it could be in the form of a business partnership. Because litigation is always a possibility in business it is vital that the partnership agreement created include certain things.
The first is the duties that each partner will undertake. The responsibilities that should be outlined include the important management duties, decision-making power and level of authority.
The process of developing commercial property can be complicated. Depending on the specific circumstances of a commercial development, a wide variety of issues could arise to throw things off course. As a situation playing out in South Florida illustrates, something seemingly as minor as a sidewalk can have a big impact. A condo project involving two towers and 160 units has yet to begin as a result of the issue.
There are many tools that a small business in the state of Florida might opt to use to protect the things it relies upon to succeed. When it comes to confidential information, a nondisclosure agreement may be utilized. This type of contract could be used between a business and an employee, or in the alternative, another business.
A typical nondisclosure agreement will contain several elements. The first is information regarding just what the confidential information addressed in the contract is, as well as any exclusions. Next, it will set forth the duties and obligations of the party on the receiving end of the information. Last, it will provide information regarding the period of time during which the agreement will be enforceable and valid.
According to a recent study, individuals considering going into business for themselves who reside in the Orlando, Florida, area are well positioned. The study, conducted by NerdWallet, determined that the city ranks in the top 20 nationwide for young entrepreneurs.
The factors taken into consideration in making this designation include:
- Access to funds.
- Local economy.
The fact that the University of Central Florida Business Incubator program as well as the National Entrepreneur Center, are both based in Orlando likely contribute to that finding. In addition, Orlando ranked high when it comes to per capital rates of small business loans—at $386.85 per loan.
When many people decide to go into business for themselves it is because they are passionate about the type of business they are going into. As a result they may focus on the subject of their business and not think much about the related issues. Some of those related issues that should be considered are those that are legal in nature.