How Can a Business Law Attorney Help a Small Business?

Most small businesses gloss over hiring a business law attorney due to other matters such as operations, advertising, and marketing, which seem more pressing. But do you know business lawyers play essential parts in building your business and contributing to its success?

How Can a Business Law Attorney Help a Small Business?

Business Formation.

Most legal matters such as limiting personal liability are handled at the beginning of the business. A business law attorney can help new business owners incorporate the formation process. This is to ensure the business starts on a firm legal footing.

Intellectual Property.

Before a business is launched, it should take steps to ensure intellectual property such as brand name, logo, business names, devices, architectural blueprints, computer software, and creations, if applicable, are protected by copyright. A business law attorney can help acquire the necessary patent, copyright, and trademark registrations to cover these aspects.

Privacy Policies.

Business lawyers can help small businesses protect their clients, patients, or customers' information. This can include email addresses and other innocuous connections.

Non-Disclosure Agreements.

Once the business begins operating, owners may subscribe to agreements with other parties. To ensure the protection of their trade secrets and ideas in such collaborations, they need a business lawyer to draft non-disclosure agreements.

Employment Agreements.

Business attorneys help small business owners draft employment agreements such as non-compete, non-disclosure, and employment contract durations.

Defamation.

Small businesses rely a lot on their reputation. Sometimes a competitor can make a hailing remark on the business's advertisement website. In this case, a business lawyer can obtain a court order to force the culprit to pull down such defamatory posts.

Exit Strategies.

When the major shareholder or a business partner decides to exit from the business, a business lawyer can help develop policies that allow the business to close. The lawyer could also help in developing policies that will enable other partners or the remaining members to buy more shares and keep the business running.

Are you out there looking for professional legal information for your business? Law Office of Andre Clark, A Professional Law Corporation got you. Contact us today for more on legal contracts, transactions, and overall legal information.

Common Contract Disputes a Property Lawyer Can Help With

Purchasing real estate requires the largest investment most people make, and the market is massive. According to The Hill, Americans borrowed $1.61 trillion to purchase residential real estate in 2021. With this volume and the complexity of real estate transactions, contract disputes are bound to occur. When they do, The Law Office of Andre Clark is here to help. Read on to learn about the most common contract disputes where the expertise of a real estate attorney can help.

Common Contract Disputes and How an Attorney Can Help

Failure to Disclose

Imagine the horror of purchasing your dream home only to discover the roof is leaking, you have horrible neighbors, or your new home was once the site of grisly murders. Unexpected property issues are the most common cause of real estate contract disputes. State laws vary widely on what sellers do and do not have to disclose.

If a seller fails to disclose important information, you may be entitled to compensation. In some circumstances, sellers do not need to disclose defects. A real estate attorney can determine whether the seller should have disclosed the information and what recourse you have.

Breach of Contract

Breach of contract occurs when one party fails to meet all the conditions of the transaction within the specified timeframe. Most often, the buyer or seller fails to close on the property by the agreed-upon closing date, or in some cases, fails to complete the sale at all. This is costly to both buyers and sellers.

Buyers can lose thousands on inspection and appraisal fees. Sellers lose out on valuable marketing time while the property is tied up in the transaction. Sellers can also lose out on their own purchase transaction if the purchase of their next property depends upon the sale of their current property.

Almost all real estate contracts contain contingencies (escape clauses) that allow buyers to get out of the contract. However, these contingencies usually have deadlines or other limitations. If a buyer or seller fails to close on a real estate transaction, a real estate attorney can review the contract to determine what recourse you have and get you the compensation you deserve.

Boundary Disputes

Disputes can arise with unclearly defined or encroached property boundaries. New buyers may face the unpleasant surprise of easements that affect their use of the property or allow others to pass through the property. A neighbor may keep some of their property on your side of the property line. The title company may fail to properly convey all or part of the property to you, especially if it sits on two lots or more lots.

While most of these situations should be revealed during the inspection period, this does not always happen. The seller, real estate brokerage, and title company could all be liable. These are issues only an expert real estate attorney can advise you on.

Agent Breach of Duty

The public relies on the expertise of real estate agents to make important financial decisions. So the law holds them to high standards. Real estate agents and their brokers are liable when agents fail to act in the client's best interests. This is whether through incompetence, negligence, disclosing confidential information, or other misconduct. If the agent's misconduct leads you to make a decision you later regret, you could have grounds for a lawsuit against the brokerage.

Real estate agents can advise you about the real estate market and help you negotiate and fulfill the terms of the contract, but the law prohibits them from offering legal advice. Only a qualified real estate attorney can provide reliable legal advice when you face a contract dispute. Better yet, you can prevent contract disputes by hiring a real estate attorney to review your contract before disputes occur.

If you are facing any issues with a recent real estate transaction, contact us today. We are here to help.

When May a Seller Back Out of a Real Estate Contract?

A real estate contract is legally binding with several contingencies with specific conditions under which a seller may back out of the contract. There are several instances when a seller might want to back out of the contract, such as:

• Disagreement with the estate

• Difficult buyer

• A higher offer comes in

• Change in circumstances

• Lack of a replacement home within the closing period

When May a Seller Walk Away From a Real Estate Contract?

Are you willing to back out of the real estate contract? Doing so may attract some inconveniences. However, you may back out in some instances, provided you legally comply with the terms of the agreement. Some of these instances include:

Unsigned Contract

Before the involved parties duly sign the official contract, the seller may comfortably walk away from the contract.

Attorney Review

Most real estate contracts use standard contracts. You should review this carefully, as such contracts will govern the circumstances that will allow a seller to back out of a real estate contract. An attorney's review of the contract beforehand would be prudent even if the seller is represented by a licensed real estate agent or broker.

Breach of Contract

When the buyer fails to comply with the terms of the agreement, the seller also has the grounds to cancel the contract.

The Buyer Requests Repairs the Seller is Not Willing to Do

Most buyers request repairs or repair credits after a home inspection. If the seller turns down the request by any chance, the buyer might, depending on the contract terms, terminate the contract.

A Suitable Housing Contingency

If the seller includes a suitable housing contingency in the contract and cannot secure a suitable home of the best fit, he/she may also back out of the contract. However, this contingency applies if the seller had explicitly written it in the contract.

In cases where the seller wrote a replacement or home sale contingency, they will typically be allowed an extra period to purchase a home. If the home is not found, the seller may also back out of the contract.

Are you out there trying to conduct real estate contracts, and everything turns out to be a hassle? The Law Office of Andre Clark, A Professional Law Corporation got you. Contact us today for more information on legal contracts.