Marketing products has become essential in today's business world. Companies spend millions of dollars on advertising strategies. Some advertisements exaggerate the product being sold without being deceptive. Crossing the line of deception makes the practice illegal and punishable by law. False advertisements mislead consumers and lure them into buying products.
Product liability law protects consumers from dangerous products, and allows them to pursue legal actions against manufacturers. All products must meet consumer expectations. If a product fails to meet reasonable expectations and that leads to physical injury, the consumer may sue the company for damages. Several product liability disputes are settled out of court, as companies do not want to damage their reputation.
Contracts are made because the outcome is beneficial for both parties involved. But in the business world, several problems may arise that complicate contracts and lead to disputes. A business contract is an agreement that creates certain rules and obligations to be followed by both parties. Failure to follow these obligations is called a breach of contract. A contract breach may occur in several different ways, depending on the terms.
When you purchase real estate, you are making an investment that lasts decades. Therefore, you should always investigate the seller to ensure that you are working with someone on whom you can rely, which is called due diligence. Due diligence refers to commonsense actions that a person takes to ensure that a particular contract is worthwhile.
Many business owners, through an honest desire to limit their company's liability, will include numerous provisions designed to limit their liability. The result is a one-side contract that places all of the risk on one or more parties. But this language will not prevent an injured party from seeking compensation. It will only drag out litigation and make the entire process more costly.
This post will continue discussing "due diligence" and what that means in a real estate transaction. The previous post examined the due diligence generally and how the method of diligence depends on your goals in the transaction. Essentially, the information you need to complete the transaction will guide your due diligence. This post will discuss the specifics of due diligence in a generic commercial real estate transaction.
Commercial real estate transactions are large deals that involve thousands or millions of dollars. The lifetime of these investments is measured in decades, not years. They involve enormous amounts of energy, years of projections and piles of cash. As such, every commercial real estate transaction should be approved in a diligent manner. The buzzword in these approaches is "due diligence." Due diligence refers to the investigation of the property, company and other factors that underlie a commercial real estate transaction. Due diligence ensures that a particular company and property are worth the investment.
Amazon operates the largest online marketplace in the United States. You have probably heard of owner Jeff Bezos' various commercial adventures, including most famously, Blue Origins, the rocket company. But what you may not know is that Amazon is looking to compete in the online streaming industry. In pursuit of that goal, Amazon purchased Twitch, one of the largest streaming sites.