Numerous business owners in Texas and elsewhere choose to forgo buying property and, instead, choose to lease the space that they need. Leasing is a great option, but obtaining a lease contract for commercial real estate that offers everything one is looking for can be a bit of a challenge. This column will address some things potential tenants need to know about leasing commercial space.
Some company owners may not feel comfortable in negotiating lease terms with property owners, but failing to do this is not in one's best interests. The owners of commercial real estate, while they do try to offer competitive deals, really are only looking out for themselves. It is up to potential tenants to actively pursue the lease terms that are best for their company goals.
There are a lot of business owners in Texas and elsewhere who are in the service industry. These individuals often find themselves at the beck and call of their clients and may dream of moving toward a product-based business. When they are ready to make such a leap, what should they do with their service businesses? Close up shop, keep it going or sell?
There are pros and cons to each of these options. It can be wise to keep a service business going until one's product business is doing well enough, and some company owners may want to keep it going after that as a side business if it is reasonably manageable. However, the demand of service clients may simply prove to be too much and distract from one's new company. Some may simply choose to close up shop in order to put their full efforts into their product-based businesses. This can be a good move, as a new business certainly takes a lot of work to get off the ground; however, by just closing one's doors, one may be missing out on the profit that can be gained by selling.
Owning a piece of real estate, whether in Texas or elsewhere, is a big accomplishment; it is also a huge investment. Perhaps the biggest investment anyone will make in his or her lifetime is buying a home. Some people like to buy new construction, and others prefer fixer uppers. In either case, building defects may be found. When is it appropriate to file a construction defect claim?
When one finds building issues with his or her home, one might not be sure if he or she should just fix the problem or call the builder or contractor. There are some issues that may seem minor at first, but can actually have major consequences. Construction defects certainly run the gamut, from popping nails to completely unstable structures.
When companies combine, it is generally to the benefit of all parties involved. Merging businesses can be a complicated legal process, however. For companies big or small in Texas or elsewhere, an experienced business law attorney may be able to help move the process along as quickly and smoothly as possible.
Recently, two digital companies in another state announced an upcoming merger. Forte Interactive and Big Couch Media Group have come to terms regarding this combining of forces, though the exact details of the merger have not been disclosed. The goal of this merger is to create a full-service marketing agency and research firm. The marriage between the two companies is expected to take this new company to the next level.
Before starting your business, you likely spent a great deal of time and effort putting together a business plan. After all, planning is essential to company success. Those who own businesses in Texas and elsewhere could certainly benefit from re-evaluating business plans every so often throughout the life of their companies.
A truth in life is that change is inevitable. While an initial business plan can provide a great starting point for getting a company off the ground, things can change quickly in the business world. One's plans can swiftly become outdated and in need of revision. However, it may be difficult to know exactly where to start in this process.
Whether one is just starting a business or has a company that has been up and running for some time, there are reasons why a business owner may need to consult an attorney. It is okay, and can certainly help handle or avoid various problems that could turn into massive issues. What are some of these reasons that the owners of businesses in Texas or elsewhere might need legal assistance?
When operating one's own company, it is normal for business owners to worry about every little thing. While there are certainly issues that can be handled by oneself, there are others that could truly benefit from the assistance of a business law attorney. In the end, avoiding legal help could hurt one's company in the long run.
Marco Contractors Inc,. which is based in the northeast portion of the country, was recently sued by a construction group it hired to build a Wal-Mart in another state. A conflict over an item in the contract is the issue at hand, as are the state laws under which the contract is to be adjudicated. Construction disputes happen in Texas and elsewhere, and how contracts are written can make all the difference in how those disputes can and will be handled.
In this particular case, Marco Contractors Inc., requested that an arbitration clause in a construction agreement -- stating that arbitration take place in the company's home state -- be enforced. However, under the laws of the state in which the contract was signed, the company had reportedly waited too long to make such a request and had also included a provision in the contract that is considered unenforceable in accordance with state laws. This is a provision known as venue selection which is commonly included in contracts that involve out-of-state jobs, as it makes arbitration and litigation convenient for at least one party.
Dallas has seen a lot of movement in the commercial real estate market as of late. This is something that can actually be said for much of Texas. With all the real estate sales and leases currently taking place, buyers, sellers, owners and tenants would do well to ensure their transactions are appropriately protected.
When it comes to commercial real estate sales, Dallas has seen quite a few big pieces of property sold in May. MLG Capital is said to have bought a large apartment complex that is mostly occupied with the intent to remodel and manage. Several land parcels and existing warehouse spaces were also purchased, though, what is do be done with these properties has not been reported. Regardless of future use, the buyers and sellers likely had to negotiate the terms of sale and make sure that any issues with the properties were appropriately addressed before contracts were officially signed.
It is not uncommon for business owners in Texas or elsewhere to face lawsuits at some point. Business litigation is a big deal. What should one do if his or her company has been sued?
No business owner wants to deal with a lawsuit. They will take all necessary precautions to protect themselves from the very beginning in an effort to avoid facing legal battles. Unfortunately, it is impossible to know what the future holds. Lawsuits happen, and when they do there are certain things company owners can do to help get through them as swiftly as possible and without totally damaging their bottom lines.
When thinking about starting a business, one must decide what type of entity works best for one's goals. Sole proprietorships are for those who wish to go it alone and are willing to accept that any issues with their companies could impact their personal lives. Setting up businesses of this type in Texas or elsewhere is considered to be pretty simple.
A sole proprietorship is, by definition, a one-person business. Depending on where one lives, it may not have to be registered with the state, unlike a corporation or a limited liability company. It is also considered to be the simplest business structure to create and maintain.