Cash Flow Risk Supply Chain Risk When considering how this relationship fits into your business’ broader supply chain, you’ll see areas of risk and can create the right terms in the contract to lessen the risk. The needs of your business (or your vendor’s or customer’s business) may change during the relationship, and you can... View Article
As COVID-19 continues to dictate workplace culture and operations, business owners struggle with fulfilling their contractual commitments to customers. With limited staff, facility closures, and constant uncertainty, you may find yourself asking, “What if I can’t fulfill my contract obligations?” It all comes down to prioritization – In challenging times, we need to prioritize contract... View Article
Nearly every business will need to sign a software license agreement to purchase and receive services. Many service providers will present a “boilerplate” or “standard” agreement. Still, the truth is, there is no such thing as a standard or boilerplate software license agreement. When investing in software, business owners must understand what the contract says... View Article
Avoiding employee disputes and lawsuits is the goal of employers, but even effective best practices won’t reduce all risks. So how do employers avoid the inevitable cost of employee disputes and lawsuits? Enter mandatory arbitration agreements, which prevent employee disputes from going to court. These agreements are typically part of employment agreements or as separate... View Article
When starting a business, few business owners consider the details and consequences of closing the business. But even closing a business, if not done the right way, can get a business owner in hot water. Recently, a popular and all-inclusive wedding venue in Everett, WA suddenly closed. Engaged couples with impending nuptials are without a... View Article
As if losing employees wasn’t distressing enough, a former Google executive’s recent criminal indictment for trade secret misappropriation has served as a reminder as to how messy things can get if proper precautions are not taken. Often times, a business’s success is largely attributed to a trade secret – whether it’s a list of valuable... View Article
We previously posted an article about the new non-compete legislation in Washington that was expected to be signed into law. Since that original article was posted, the bill was in fact signed and Washington employers should begin preparing for the new rules to take effect on January 1, 2020. But what do employers really need... View Article
For many companies, a commercial lease is one of the most critical and high-value contracts into which they’ll ever enter. While the average commercial lease term is between 3 to 5 years, these leases can run up to 10 years, plus extension periods. Unlike most other contracts that a business might sign, a commercial lease... View Article
Last month, we focused on tools you can use to increase your business’ profitability, many of which you already have available to you but which get put to the wayside in the day-to-day push to bring deals in the door. One such tool is your contracts, whether with your clients or your vendors. It’s not... View Article