Anybody who knows the true trial and tribulations of running their own business clearly understands the ups and and downs of business ownership. Many times people naively think that self-employment is a guaranteed fast track to riches and fortune. ROOFL!!! (Rolling on office floor laughing!)
There is no such thing as an easy ride, (unless of course you steal somebody else's successfully established idea, customers, business model and run off with it!). This kind of behaviour is very obviously frowned upon and to be honest, who wants to win by cheating?
Sadly, this type of activity happens all the time. As a business owner you need to take all of these possibilities into account when writing up your contracts with potential business partners, producers, suppliers, franchisees etc. You may be thinking that the business law and contracts don't apply to your business, but you should let a professional/business lawyer make that decision WITH you before you make any potentially expensive mistakes when a vulture does rear it's ugly head.
Here are some areas to consider:
There are many areas you will need to consider but taking the time to protect yourself now can prevent you from legal nightmares in the future!
Leah Chevallier, serial entrepreneur in the Juvenile Industry sharing insight, success and 18 years of award winning retail experience! Took $2000 Micro-credit loan and turned it into $30 million!