Virtual General Counsel LLC
Helping Startups And Complex Business Clients Services Throughout Denver And The Surrounding Areas
Phone: 303-395-0259 Toll Free: 800-229-1646

Posts tagged "Contracts"

Before signing, seek legal support with contract questions

A good contract can place a Colorado business in a strong position for the future. Whether it is for securing a useful vendor, leasing a new location for operations or hiring a critical employee, a well-drafted contract can provide a business with security and confidence in their actions. Not long ago this blog discussed the basic elements of a contract, but depending upon what type of contract a business needs to execute, the terms of the agreement may vary from those of others.

The elements of a basic contract

Contracts are an essential component of many business relationships. When a small Colorado business chooses to hire a new employee or work with a new vendor it will likely create and execute a contract to govern the terms of their relationship. Contracts, also called agreements, are based on an offer and an acceptance of the offered terms.

Social media policy changes can cause havoc for small businesses

Social media has upended the traditional ways businesses advertise and generate word-of-mouth among their customers and potential customers. Many small businesses in the Denver area have built their entire media strategies around social media. However, these strategies can be destroyed overnight when the social media companies change the ways they present a business' posts.

Build a better contract

Drafting a contract that accomplishes all your business goals while addressing all possible complications is not easy. The language in a contract should be clear and the parties should make sure they agree on every point.

What types of contracts must be in writing?

It's always a good idea to get a business agreement down on paper, but sometimes, for one reason or another, it doesn't happen. Most businesspeople in Colorado are familiar with the so-called handshake deal, and other types of contracts that are not necessarily in writing. Many of these agreements meet the basic requirements of a contract (offer, acceptance, consideration, competency, intent) and so will be legally enforceable. However, a law known as the Statute of Frauds requires that certain types of contracts must be in writing, or else they are not legally enforceable.

Businesses backing away from e-commerce over tax concerns

Since the beginning of e-commerce as a force in the marketplace, business leaders and lawmakers have argued over how to handle the issue of sales taxes. If a website for a Denver company sells a widget to a customer in another part of Colorado, should the customer pay the sales tax rate for Denver, or for the customer's location?

Best practices to avoid nonperformance in contract disputes

When it comes to doing business, most businesses couldn't perform without the use of, or partnership with, other businesses. In theory, being is business is just as much about your customers as it is about the vendors you are engaged in business with. This is why it's so important to set up business relationships for success from the beginning. One way in which to do that is to set up a contract between businesses.

When can I sue for breach of contract?

If you are a small business owner, you are probably surrounded by more contracts than you realize. Between clients, customers, vendors, contractors, loans and purchase agreements, you have likely signed on the dotted line more than a few times. Unfortunately, you have also likely had to deal with other party not holding up their end of the bargain. So when does it reach a point where you can actually do something about it?

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