A commercial lease is one of the most important, and sometimes scary, documents a new business owner will ever sign. They involve complex terms, financial risk, and obligations you may have never seen before. The first commercial lease my company ever signed was for a total value of $2.5 million dollars over five years. At the time, it scared me to death.
With careful planning, however, a commercial lease can be a tremendous asset to your business, and as always, speaking to qualified property lawyers is always a good idea.
Here’s a few things to watch out for:
Business agreements are complicated things, and they must be written according to legal guidelines to make sure that they are valid, and that they remain valid. It is important to consult commercial lawyers when writing your business agreement to make sure that you don’t fall into problems further down the track. Unfortunately, a lot of people make business agreements which aren’t valid, but they don’t know this until a dispute arises.
What circumstances invalidate a business agreement?
There are a number of different things which can invalidate and led to the cancellation of a business agreement. These include:
When one party has broken a central part of the agreement – If one of the parties involved in a business agreement acts in a manner contrary to the terms set out in the agreement, the other party has reasonable cause to believe that the agreement is no longer valid. If you feel that your business agreement has been broken due to the way that the other party has acted, consult a commercial lawyer to determine whether you should take the matter to court.
Commercial Law Experts can help you understand your Rights
A partnership is an agreement between individuals who wish to finance and operate a business together. Reliable commercial lawyers are happy to guide clients who are facing anxieties and problems related to partnership agreements. In general, partnerships have certain advantages over sole proprietorships. Multiple partners may be able to raise more money than a single individual and their borrowing ability will be greater. Moreover, partners often bring their own skills to a business. In addition, employees may be more motivated if given the incentive to become a partner. You will enjoy shared management and control of the business.
A partnership agreement is a legal contract that clearly describes and lists all the duties and obligations of the partners in the business. In general, partnership agreements tend to be rather complex because the document has to include potential business situations and corresponding solutions. The absence of a partnership agreement is likely to result in confusion, stress and delay over distribution of assets and settlement of debts and so on.
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