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BUSINESS LAW

A.E.I. Law > BUSINESS LAW

BUSINESS DEVELOPMENT & ENTREPRENEURSHIP

 

Long time business development and management entrepreneur, Taylor J. Howard, Esq. founded A.E.I. Law, P.C. Entrepreneurship is an art and Taylor is an Artist. It takes a Creative to look past the data and find the insight. Entrepreneurs need assistance from a creative business and legal affairs department to navigate the laws and regulations governing the entrepreneurial endeavor, drafting, reviewing, and negotiating contracts, developing standard operating procedures, maintaining compliance and more.

 

Anybody who is launching a business for the first time understands the daunting task of trying to decipher what is required of you. Starting a business can be overwhelming when trying to determine what laws govern your specific industry and what regulations you must comply with. Do you need a business license in all jurisdictions, do you need a re-sellers permit, do you need a special license, insurances, or other permits? The business law attorneys at A.E.I. Law can hold your hand through this start-up process.

 

Forming a business legal structure is one of the first steps that entrepreneurs must consider. Business formation is an important and necessary step that should be considered carefully whether registering a DBA, creating a LLC or corporation, or forming a partnership. The proper business entity will determine the personal liability, taxes, and other important details of the business. Starting a business off on the right foot with the proper fictitious business entity and associated governing documentation including articles of incorporation and operating agreement requires the help of a trained business lawyer.

 

A.E.I. Law creative business and legal professionals can help you ascertain what type of fictitious entity is necessary, if any, as well as what laws and regulations you must comply with on a local, state, and federal level. Contact AEI Law today for your initial consultation.

 

BUSINESS LITIGATION

 

Unfortunately for small business owners, business litigation is almost inevitable and is thought of as a cost of doing business for many entrepreneurs. Experienced and knowledgeable legal counsel can assist you with your contracts and fictitious entity governing documents to make the best effort to avoid misunderstandings, but misunderstandings nonetheless happen, that’s just a fact.

 

A.E.I. Law can ensure that your rights are protected. Whether breach of contract, contract disputes, business fraud, embezzlement, interference with business economic relationships, defamation, disputes amongst partners, trademark infringement or unfair competition, the experienced business law professionals at A.E.I. Law are your advocates, counselors, and attorneys.

 

With a well-seasoned business litigation team of creative professionals and serial entrepreneurs A.E.I. Law is well equipped to serve your interests in any business litigation that may arise. With the experiential knowledge as entrepreneurs, the A.E.I. Law team is sensitive to the impact any litigation can have on the bottom line of a small business and is prepared to work with small business owners and executives to fit within the company’s budgetary constraints.

 

The experienced entrepreneurs at A.E.I. Law offer years of business and entrepreneurship knowledge. Call your business and legal affairs department at A.E.I. Law, P.C. for general business guidance and consultation.

 

BUSINESS AND CONSUMER CONTRACTS

 

A well-drafted contract should establish the terms of your relationship with the other party and reflect the rules that will govern your transaction. A.E.I. Law, P.C.’s attorneys are very experienced in business and the law, and will take the time to understand your business deal, your business, and your interests to devise a well-drafted business contract. A well-drafted contract should be elegant, clear, and unambiguous; it should be organized, cohesive and thoughtful. A.E.I. Law’s creative business and legal professionals not only possess the requisite good writing and organizational skills, but also keen analytical skills, negotiation skills and a sharp eye for details to best represent your interests and memorialize your agreement in writing.

 

Hopefully when you’re building a business you draft the contracts and then never have to look at them again. The most important thing in any contractual arrangement is the relationship between the parties, however, solid contracts are key to the success of your business. Be sure to have a business and legal professional draft, review and negotiate your contracts. If you have a contract dispute, AEI Law’s business litigation attorneys can ensure that you receive business & legal counsel to guide you to the quickest and most beneficial path to resolution. Contact A.E.I. Law today for your initial consultation.

 


Do you need help with your business legal affairs?

Can you fire someone for stealing?
Taylor

Generally, United States companies hold broad authority to terminate employment for virtually any reason, short of illegal discrimination. Thus, it is possible to fire an employee who has been caught stealing. Citing this reason is not always advisable, however; many employers prefer to let problematic employees go without making accusations. After all, employers are not obliged to explain their reasons for terminating employment. Those who cite theft should proceed with caution when conducting investigations, as these commonly become the subject of wrongful termination litigation and if the alleged “theft” is not a provable fact, it may you to allegations of defamation. Companies don't necessarily bear the burden of proof in employment cases, but juries may expect proof beyond a reasonable doubt if accusations of theft are made. When in doubt, it's generally easier and safer to fire theft-prone employees without actually mentioning their behavior.

Does a text message constitute a binding contract?
Taylor

Given the right circumstances, a text message could create a valid and enforceable contract or at least evidence of a valid enforceable contract. To create a contract one must show (1) offer and acceptance (that is, one party makes an offer and the other party accepts it); (2) consideration (that means, something of value from one party in exchange for something of value from the other party); (3) capacity to contract (which means, the parties must be of legal age and sound mind); and (4) a legal purpose. This can be accomplished in writing, orally, or can be implied by the parties’ conduct and course of dealings together and evidenced by writings such as checks, purchase orders, invoices, emails, and text messages.

What is the most common remedy for a breach of contract?
Taylor

A variety of avenues can be pursued to resolve a breach of contract. While formal lawsuits are typically thought of as the primary solution, alternate options such as mediation or arbitration may be preferable when both parties are open to negotiation and actually may be required by the contract before either party may pursue litigation. Typically, the first step to address the breach involves a notice, which is often referred to as a 'demand letter.' In addition to alerting the other party to the breach, a notice may outline possible remedies. This important step may be followed by informal discussion or by drafting an official settlement agreement. If these approaches don't prove effective — or if the other party disagrees that a breach occurred — a lawsuit may be the best option for remedy. Typically in litigation a party will seek remedies at law and equity.

Is a contract valid if not signed by both parties?
Taylor

In most cases, it is best practice for contracts to be signed by both parties. However, many situations exist in which a contract may be enforceable if it's signed by just one person or even if neither party signs. For example, some types of oral contracts may be binding in certain situations. Rules regarding the necessity of signatures vary from state to state, so it is important to determine local laws when attempting to complete a contract with just one signature — or none at all. For example, the Statute of Frauds requires that certain contracts be in writing, including contracts for: (1) marriage; (2) any contract that cannot be completed in a year or less; (3) a contract for the transfer of real property; (4) a contract to promise to pay the debts of another; (5) a contract for pomises to pay the debt of an estate from an executor’s private funds; and (6) contract for the sale of goods worth $500 or more. Without signatures, however, it can be difficult to prove a contract's validity, as binding contracts must include a clear offer, acceptance of that offer, and consideration, in which each party gives something to get something.

Can you withhold a paycheck for theft?
Taylor

If an employee stole from your business and was subsequently terminated, limited options for recourse exist. While it may be tempting to withhold the amount stolen from the employee's final paycheck, this approach is best avoided, as it violates labor laws in many jurisdictions — and could lead to considerable legal trouble. Once an employee accused of theft has been fired, it is in your best interest to send the entirety of remaining wages to that person's last known address. It is also wise to notify the employee of this final payment — and that recovery of stolen assets or property will occur via proper legal channels.

Is a Handwritten Contract Legally Binding?
Taylor

While most people picture contracts as professionally printed documents, it is possible to draft a legally binding, handwritten contract. Even strictly verbal contracts can be enforceable under select circumstances. However, given the complexities of enforcing verbal contracts, it is always advisable to record agreements in writing. As long as written contracts spell out necessary details and are signed in full agreement by both parties, they are legally binding and enforceable in a court of law. Typically, enforceability will not be impacted by the mode of writing, but rather, by whether contracts comply with formalities mandated by federal, state, and local laws.

Is an unsigned contract valid?
Taylor

In many cases, a contract must be signed by both parties to be considered valid. Numerous exceptions exist, however. Oral contracts or those made electronically (and without a formal signature) can be deemed valid under select circumstances. In such situations, mutual agreement at the time of the contract's creation must be proven, as well as consideration (what the other side receives upon fulfilling the contract's terms). In specific situations outlined by civil codes or statutes, written signatures may be required for a contract to be deemed enforceable. Ultimately, the validity of an unsigned contract depends on the circumstances under which it was entered into and the content of the agreement. Such an agreement would need other evidence of the contracts existence to be enforceable. That evidence can be various correspondences between the parties such as emails and text messages, the conduct and course of dealings between the parties, performance by one or both parties, and evidence of payments via check or wire transfer.

What happens if there is a breach of contract?
Taylor

If a breach of contract occurs, the aggrieved party may attempt to enforce the agreement's terms or, if unable to do so, seek damages to account for financial harm that resulted from the breach. This typically begins with sending notice of the breach. In many cases, the parties involved in the contract will take part in negotiations and make extra efforts to ensure a mutually beneficial solution to the dispute. Sometimes, however, negotiations fall through. In such cases, a breach of contract lawsuit may be the only viable solution for securing enforcement of the contract's terms — or monetary damages.

What are the key elements of a binding contract?
Taylor

To be deemed legally binding, every contract must include the following elements: an offer, voluntary acceptance of that offer, consideration (in which each party involved must give something to get something), and the mental capacity of each party to enter into a legal contract. In many instances, contracts will not be considered binding unless they are written and signed by both parties, however oral and implied contracts are binding. If one or more of the aforementioned elements are not present when creating a contract, it may not be legally enforceable. Every situation’s specific fact pattern must be analyzed to determine if a contract is enforceable.

What does a binding contract mean?
Taylor

While contracts can be made under a variety of circumstances, they impart a lot more meaning if they are binding. When a contract is deemed legally binding, it can be enforced in a court of law. By making a contract binding, both parties increase the likelihood that its terms will be followed. Breaking a binding contract could result in penalties imposed by the court. For a contract to be considered binding, all parties involved must have, offer, acceptance, consideration, capacity and the agreement must possess legal purpose. The courts will not split the spoils between thieves.