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Co-working Agreements

These days, flexibility is the name of the game when it comes to working in a wide range of industries. Inspired by companies like Impact Hub and WeWork, entrepreneurs and building owners (or even tenants) with extra space are looking to cash in on the co-working space movement. While entering the shared space industry involves […]

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Terms & Conditions for your Website

These days, creating a website is easier than ever with website building platforms like WordPress and Wix. For business owners, a professional, enticing, and functional website is crucial for attracting and retaining clientele. But apart from the creative content that draws in customers (think: product descriptions, company bio, and images), websites should also include terms […]

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The Liquidated Damages Clause

When, as a first-year law student, I learned about liquidated damages clauses in my contracts class, I thought they sounded like a magical tool that would prevent anyone from ever getting stiffed in a deal. And to a certain degree, liquidated damages clauses do provide a measure of security. They certainly can be a useful […]

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Pro Forma Financial Statements

For business owners, making decisions about business operations and the company’s trajectory can be exciting, but it also comes with uncertainty. For example, say your company wants to expand and is considering purchasing land for a new manufacturing facility. Or your company is considering refinancing debt in response to low interest rates. Whatever the business […]

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Understanding Contracts: The Sports Contract

When most of us hear about our favorite pro athlete signing with a new team, we see dollar signs. Mike Trout’s $426 million contract with the Los Angeles Angels makes for good conversation at any happy hour. And then there’s the lawsuit recently brought by the U.S. women’s national soccer team against the U.S. Soccer […]

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Understanding Contracts: The Contractor and Subcontractor

Let’s face it: there comes a point when we realize we can’t do it all. Accordingly, many businesses hire contractors to perform services ranging from payroll, marketing, janitorial, or even tax preparation. Contracting for these operations enables businesses to focus on their core competencies rather than peripheral tasks that are not at the heart of […]

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Contract Tip: What is a Counterpart Clause?

Boilerplate contract terms are often overlooked, and in some cases, this can be dangerous. A counterpart clause is one such often overlooked contract term. While I would hesitate to classify it as “dangerous,” understanding what the clause means and does is helpful in understanding your duties and obligations under the contract. The Counterpart Clause To […]

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Contract Tip: What is an Assignment Clause?

Let’s say that you are planning your wedding reception and you contracted with a particular ice sculptor because of his demonstrated ability to sculpt intricate, life-size ice replicas of the newlywedded couple. A resplendent hypothetical, of course. If that accomplished ice sculptor later wants to outsource his contractual responsibility to another ice sculptor—who does not […]

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