Aside from tax implications and series of licenses required, consultation and involvement of a lawyer may be the major key to a permanently successful business.
Why is that?
A lawyer sees the conflicts, the potential hold ups and disputes even when a general outlines of a business is described to her, and the unknown or unforeseeable details may not always be necessary.
The contract and remedy laws, addressing disputes, disagreements and different interpretations of clauses have been addressed in severalty and details in multiple rulings. The disputes often embodies on the “profit and loss” and “expectations and shortcomings” —after all it is business.
The short comings, over promising and under delivering or as business owners may perceive it as other than breech of the contract” Fraud, Misrepresentation, Misleading, Breech of Fiduciary Duty, or Shareholders Disputes, etc” are often much more easier to address in the court proceedings if all the primary contract and duties were “fully disclosed and agreed upon”. After all contracts are “mutually agreed upon terms”, where the minds meet and intentions are openly honest.
With a proper and strong initial contract as a baseline, however, the issues of “Fraud , Misrepresentation, Breech, etc” maybe addressed faster and in a more clear manner.
True that in the course of business, unexpected events might happen. Evidence might pont out that a party could not possibly fulfill his/her duties. The circumstances made it impossible for the terms to be met. But absent solid and reasonable defenses, breeches may not be justifiable.
So, however we look at the businesses, and in the court of law, what is written on the paper prevails. Why not have the success at the initial stage? And agree on all the relevant terms initially to be able to proceed in clarity and good faith?
This is a California Business Law blog. It is not intended to be used as legal advice. For further information please contact the law offices of attorney Ramona Kennedy.
Ramona Kennedy (Attorney) received her Jurisprudence Doctorate and is a licensed attorney in California (USA).
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