A most favored nation clause is a clause that will sometimes be found in commercial contracts. It is a contractual provision in which the seller agrees not to offer a better deal to another buyer without offering similar terms to the original buyer.
However, because of anti-trust issues, using a most favored nation provision must be done under proper specifications.
Most Favored Nation Clause in Commercial Contracts Read More »
For a startup company, raising startup capital is one of the most important considerations that needs to be factored in the overall plan of the company. There are many options for startups to raise capital – each with their own set of rules, legalities, and formalities that need to be taken into account.
The question as to how to raise startup capital is asked more often than not when it comes to startups. This is due to the complexituy that surrounds raising capital for a startup.
How to Raise Startup Capital – An Intro Guide to Raising Startup Capital Read More »
The limited liability company, or “LLC”, is the structure of choice for most new businesses. When a new LLC is formed, an important decision must be made with regards to the management structure of the company. Business owners can either elect to have their newly formed LLC be a member managed LLC or a manager managed LLC. Both have their own advantages and ensuring you choose the right one is an important decision.
Member Managed LLC vs Manager Managed LLC – Which One is Right for Your Business? Read More »
In today’s world, outsourcing is a common practice many entrepreneurs and businesses are doing. However, when a person or company outsources, many legal issues are involved. Specifically, these issues arise from the ownership of outsourced work and the intellectual property that is created in outsourcing the work.
Because of this confusion, many people who outsource work are now using work for hire agreements, or specifically including a work for hire clause in the employment agreement or independent contractor agreement they are requiring be signed before they start the work.
Ownership of Outsourced Work and Why You Should Have a Work For Hire Agreement Read More »
Companies that conduct business online often gather information from their customers. This is true whether you are simply interacting with consumers via an email form or conducting sales through your website. Often the information gathered is sensitive and can include names, addresses, telephone numbers and credit card information.
As a result, businesses are charged with two mandates. First, businesses should always take steps to protect their customer’s confidential information. Second, businesses should inform their customers as to how they plan on using the customer information they collect – this is the role of the website privacy policy.
Website Privacy Policy – The Importance of Having a Privacy Policy Read More »
A liquidated damages clause is a provision that sometimes appears in contracts when it would be difficult for one party to the agreement to calculate damages should the other party decide to breach the contract. However, because there are many rules which vary from state to state as to what is required for a liquidated damages provision to be upheld by a court, not all liquidated damages clauses will able to be enforced. Thus, before you decide to use a liquidated damages provision in your next agreement or sign off on an existing liquidated damages clause, it’s important to make sure the clause is drafted properly.
Liquidated Damages Clause – The Role Uncertainty Plays in Contracts Read More »
An EIN number is a nine-digit number assigned by the IRS to all operating business in the United States. The number assigned will be unique to your business, similar to how a Social Security number is assigned to a person. If you have a business operating in the United States, chances are you have heard of an EIN number (also known as a FEIN). Determining whether you need an EIN number in addition to applying for an EIN number are important considerations any business should make.
EIN Number Application – How to Get an EIN Number Read More »