In the complex world of business law, one critical area that both businesses and legal professionals need to comprehend is creditor’s rights. These rights play a pivotal role in the financial and operational stability of businesses, impacting everything from cash flow management to bankruptcy proceedings. This blog post aims to demystify what creditor’s rights are, why they matter, and how …
Navigating Commercial Leases: Top 5 Considerations for Entrepreneurs and Business Owners
When venturing into the world of commercial real estate, signing a lease can be one of the most significant commitments an entrepreneur makes. Unlike residential leases, commercial agreements come with their own set of complexities and negotiation nuances that, if not carefully addressed, could lead to unforeseen challenges down the line. As a business owner, it’s imperative to approach this …
Why Reviewing Your Contracts with Vendors Once a Year is Crucial to Your Business Success
As a business owner, one of the essential things you should consider is vendor management. Ensuring you work with trustworthy and reliable vendors can be a challenge. So is ensuring you have good business relationships while managing costs and timelines. That’s why it’s essential to review the contracts you have with vendors once a year. Unfortunately, businesses often overlook this …
Understanding At-Will Employment in New Mexico
As a business owner or employee in New Mexico, it’s important to understand what at-will employment means and what rights and obligations come with it. At-will employment is a common type of employment relationship where an employer can terminate an employee at any time, for any reason, and without notice. However, there are some legal limitations on at-will employment in …
The Importance of Vendor Contracts and the Role of Lawyers in Ensuring Compliance
Vendor contracts are essential legal agreements that businesses use to establish relationships with suppliers, service providers, and other external vendors. These contracts set out the terms and conditions of the relationship between the parties involved, including the scope of services, payment, deadlines, confidentiality, and legal obligations. They can also include provisions for dispute resolution, intellectual property, and warranties. As such, …
How to Collect on Debts Owed- A Guide for Business Owners
As a business owner, you understand the importance of maintaining a healthy cash flow. However, no matter how diligent you are with your financial management, there may come a time when you encounter some customers who are unable or unwilling to pay for the goods or services they have received. As a result, you may find your business struggling to …
How to Buy into a Partnership: What You Need to Know
Buying into a partnership can be an exciting venture, but it is important to understand the legalities of doing so. It is strongly recommended that you hire an attorney with expertise in business and contract law in order to make sure that all of the necessary steps are taken in order for you to have a successful buy-in. Here are …
The Benefits of Having a Good Contract
Contracts are an essential part of any business. They provide clarity, security, and peace of mind for both parties in a transaction. A good contract can help protect you from liability and financial risk, while also helping you to realize potential opportunities. Here’s why having a good contract is so important to your business. Protecting Your Business With Legal Clarity …
6 Traps to Avoid When Starting a Business
Attorney Ian Alden hosts this informative workshop that anyone starting a business should view. From the pitfalls that come from negotiating bad leases, to forming your company incorrectly, Ian’s advice just might keep your business, in business! Watch the video here. Contact Business Law Southwest today to discuss all of your business law issues. Business Law Southwest. Business law that makes business sense.
When Your Client Won’t Pay- How to Collect on a Debt
There are many things a business owner can do from the get-go to improve their chances of a favorable outcome in the debt collection process. The most important tip is to start out on the right foot. Get a contract before you start work for any client- regardless of how small the transaction may be. Now when I say, get …
