The process of purchasing or selling a business is comparable to the process of making other significant purchases or sales in one’s lifetime. Sellers want to be transparent with possible purchasers about the business they are selling, and buyers want to have a complete understanding of the business they are buying. A QUESTION OF PURCHASE Due diligence and the acceptance…
Conflict in commercial relationships happen, and the mechanisms chosen to handle these disputes should be given a sufficient amount of thought and planning. All too often, parties turn to litigation to resolve their legal disputes before considering other dispute resolution processes. One process that has become increasingly visible and relied upon as an effective alternative to pursuing litigation is arbitration.…
Landlords need to prepare a written agreement for every residential tenancy. However, a verbal agreement is still valid and enforceable. It’s also important to note that the standard terms found in the B.C. Residential Tenancy Act (RTA) still applies regardless of whether a written agreement is present. Additional Considerations Paying a security deposit confirms tenancy Tenants and landlords must both…
Joint ventures (JV) are quite common when two or more parties want to start a new project or reach a particular goal. However, prior to entering such an agreement, it’s important that each venturer is protected. By outlining each partner’s expectations in the beginning, they’ll most likely avoid conflict down the road. The goal is to protect each individual’s business…
Courts are responsible for determining whether non-compete and non-disclosure agreements are enforceable. This is because employee mobility is high with employees seeking different opportunities and consequently, employers seeking security. In terms of employment, non-compete and non-disclosure agreements are legal instruments that restrict the actions of an employee. These restrictive covenants essentially protect the well-being of a company. For example, former…
Part 2 As mentioned in our most recent post, this article will be exploring the advantages and disadvantages of opting to use a limited corporation when forming a business. Again, the purpose is to give you a brief overview of your options so that you can make the best decision for your business goals. What is a Limited Liability Corporation?…
Part 1 When starting a business, many individuals encounter the same issue: whether to use a limited partnership or a limited liability corporation. Each structure has its own pros and cons which will be explored so that you can make more informed decisions moving forward. This topic will be spread out over two posts. This post will be covering the…
COVID-19 brings with it a lot of anxiety and uncertainty. In addition, the nature of the pandemic has changed the way that separation or divorce can be handled. Some may ask questions akin to the following: How can I meet with a lawyer for when I’m social distancing and offices are closed? Can I still create and implement my separation…
In some cases, buyers may change their minds or realize that they are no longer financially able to follow through with their purchase. However, reneging has proven to be quite expensive and stressful. Therefore, it is important that buyers are well aware of what they are getting themselves into and the terms by which their offer is based on. An…
The “accumulation years”, the time you spend on working and acquiring assets for both your personal and financial future use. During this period, you pursue your interests and donate to charities, own businesses, invest in stocks, and purchase property. Regardless of the type of assets you possess, you will most likely want them protected and deliberately distributed amongst your beneficiaries…