When Clarity is a Curse and Vagueness a Virtue

A conference speaker recently stated that a company’s legal documents should avoid vague provisions like “the parties will use their best efforts to….” I agree that clarity is generally a virtue in legal contracts. Except when it isn’t. Practicing law, like many things, is part “science” and part “art”. One of the “arts” is knowing Read More …

A Short Primer on Business Financing

  Basic Financing Principles Unlike not-for-profit organizations, for-profit businesses are typically unable to rely upon government funding or private grant sources to meet their cash requirements. Therefore, they generally must raise capital by either selling equity or borrowing debt in order to finance their activities. A few of the major uses of cash by for-profit Read More …

Joint Venture Tips

While it is natural to negotiate a JV thinking primarily of the “upside” if things go well, many of the legal terms will focus on how to terminate the JV and what happens on termination. Young couples getting married often choose to forego a prenuptial agreement. New business partners rarely should make that same choice. Read More …