Business and Corporate Law
Totman Law’s Three Underappreciated Issues Series: Three Common but Tricky Employee-Focused Issues in Written Employment Agreements
Three Overlooked Issues in Written Employment Agreements: In today’s fast-paced world, employee mobility is a vital part of our individual economic outlook. It is in light of this context – the reasonable ability of the employee to move between opportunities – that we, as employees, must review and consider employment agreements. Not every employee is asked…
Read MoreTotman Law’s Three Underappreciated Issues Series: Three Key Tenant Risk Provisions in Commercial Lease Agreements
Tenant Risk in Commercial Leases: Tenant risk in commercial leases is a redundant concept. Commercial leasing embodies risk and risk allocation for the would-be tenant. As such, and because the lease agreement remains one of the most commonly utilized contracts in commercial transactions, the commercial lease is an incredibly important component of many businesses’ operational picture,…
Read MoreBringing on a Partner: a Few Key Considerations
There are any number of circumstances or sets of conditions under which it may be appropriate, advisable or necessary to bring on a partner. Regardless of the reasons for doing so, however, bringing on a partner is a major milestone for any business, often leading to expanded fields of operation, cash and capital influxes and…
Read MoreRecent Events Roundup: Highlighting Key Concerns of Non-Competes, Franchising and Investing
The Triangle Business Journal recently highlighted a couple of locally-arising events that have potential consequences and implications that are anything but local in scope. Consider these examples as they may apply to your business and employment endeavors. Employment Agreements and Promises not to Compete or Solicit. First up is an article about a suit brought…
Read More“Due Diligence” in a Business Purchase: What Does It Really Mean?
We’ve all heard the term “due diligence” and understand that it generally means to do your homework and research. What exactly the term really means depends on any number of factors, including the type of transaction, the business area and the industry involved, and the relationship between the parties in the transaction. At its heart,…
Read MoreTypical Stages of a Business Purchase and Sale Transaction
The exact details and structure of a given transaction will vary from deal to deal. But there are typical deal phases involved in most transactions, each carrying a unique set of challenges and opportunities. The information below is a basic explanation of the common phases, but is only the tip of the iceberg when it comes…
Read MoreLooking Beyond the Contract Price: Often Overlooked Contract Terms
Running a business take time. A lot of time. So very much time. Business owners serve in many different roles and provide many different functions for their businesses. Lawyer, however, is not one of them (unless you’re a lawyer, obviously). And so, when it comes to reviewing and negotiating a contract, time constraints and other…
Read MoreSix Elements of Successful Contract Negotiations
Everyone has negotiated a contract. From haggling on the price of an old television at a garage sale, to negotiating salary and benefits at a new job, we have all negotiated a contract of one kind or another. That doesn’t mean everyone negotiates contracts well. Negotiating contracts is a skill like any other, and some…
Read MoreProactive Planning Amongst Partners
It’s cheaper and easier to plan how to deal with trouble than it is to get out of trouble. This is a maxim that holds true throughout our personal and business lives. And from a legal perspective it is especially true when considering going into business with one or more partners, when bringing on investors…
Read MoreThings to Consider as you Prepare to Sell Your Business
The sale of a business can take months, if not years, representing the culmination of all the money, time and effort invested into your business. Despite this simple truth, time and again business owners approach the sale process without a clear plan and without considering the implications of this momentous event. By adopting a proactive…
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