Business partnerships, much like personal relationships, rely on trust and shared commitment. Still, personal life events, such as a divorce, can create unexpected challenges that impact your business. It is essential to be aware of the potential legal implications of...
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Business Law
What legal tools aid family business succession in North Dakota?
Business succession is a crucial aspect of ensuring the continued success of family-owned companies. In North Dakota, state laws provide specific frameworks to help families transition business ownership smoothly across generations. Key elements of a succession plan...
Are handshake agreements binding in North Dakota?
When it comes to business agreements, the idea of sealing a deal with a handshake has an old-fashioned charm. But are these informal contracts legally binding according to North Dakota law? Understanding handshake agreements A handshake agreement, or oral contract, is...
Are oral agreements enforceable in your North Dakota business?
Oral agreements can be a convenient way to make business arrangements, but their enforceability can sometimes be tricky. In North Dakota, oral agreements are generally enforceable, but certain conditions and limitations apply. Validity of oral agreements Oral...
What nonprofit businesses can I form in North Dakota?
Not every person who wants to start a business has profit in mind. You may have a desire to serve a North Dakota community in some way with your organization. Fortunately, you not only have the option of creating a nonprofit, but you may create one of a variety of...
How much negotiation leeway do franchisees have in contracts?
Franchise agreements govern the relationship between franchisors and franchisees. These agreements dictate various aspects of business operations. The contracts may appear rigid. However, franchisees often possess more negotiation leeway than they may think they have....
How having an employee handbook can help during litigation
Having a comprehensive employee handbook can prove invaluable during business litigation. This document serves as a guide for both employees and employers. Many benefits can come from having a thorough and well-written employee handbook in place. Proof of clear...
Common reasons for contract disputes
Contract disputes can be especially costly and harmful to small and mid-sized business owners, and there are a lot of small business owners in North Dakota. Data from a 2022 profile by the Small Business Administration shows that 98.8% of companies in the state are...
4 ways to prevent a consumer lawsuit
In the vast landscape of North Dakota, businesses thrive on providing goods and services to consumers. However, with the growth of consumer awareness and regulations, the risk of facing lawsuits has also increased. Luckily, there are ways to prepare for the...
Key elements to include in your partnership agreement
A well-drafted partnership agreement not only helps prevent conflicts but also provides a roadmap for the growth and success of your venture. The agreement you sign with your business partner sets expectations and addresses potential conflicts. Creating a...