It may come as a surprise, but contract law plays a vital role in daily life for everybody. Even a simple matter such as making a purchase from a shop consists of a contractual agreement. However, business owners tend to be far more aware of the importance that...
Often, starting a new business comes with long hours and tasks without pay. Friends and family can be great at supporting you as you start your new business. As your friends and family help you on your way to success, you may find one of them has a different view of...
Instead of starting from scratch, a lot of new entrepreneurs will buy an existing business. Purchasing a business is, however, a major decision that warrants careful consideration. Aspects such as negotiating a fair price are only one factor that prospective business...
Trying to run a competitive business isn't easy. Not only do you need to have a good concept, but you also need professional staff and resources. It could take you years to develop all the information necessary to run a competitive business, and you obviously don't...
A contract is an essential element of any business. It allows the business to make legally enforceable agreements so it can plan out specific actions with confidence that the other party is going to meet its end of the agreement. However, a good business contract...
You’re looking to start a business. You’ve already come up with the name and done a lot of your branding. Then you find out that there is already a company with that name. What you want to know is if you can still use it or not. If you can’t, it would mean starting...
Contract breaches are common in the business world. Yet not all contract breaches need to cause a problem, let alone end in litigation. Life is not predictable. Things can happen that make it impossible to fulfill the commitment you are contracted to. While some...
The German Patent and Trade Mark Office (DPMA) has a conference on Artificial Intelligence (AI) and Intellectual Property (IP) rights recently. The theme of the conference was to determine to what extent the creations and inventions of AI are patentable. There are a...
Starting your own business can be an exciting and often overwhelming process. There are so many decisions to be made when undergoing business formation. One aspect that many new business owners often struggle with is whether to use independent contractors, employees...
Contracts are an important part of business transactions because they outline what each party is responsible for. They also outline the penalties that can result if the contract is breached. While some contracts in the business world are very simple, others are very...