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Cleveland Business & Commercial Law Blog

Contract disputes affecting some Ohio viewers

After a long day at work or school, many Ohio residents like to go home and relax for a little while in front of the television. Many of these individuals have their favorite shows or news programs, and they do not want to miss out on these. Then, there are those who enjoy watching sports broadcasts such as the NCAA tournament. Unfortunately, due to recent contract disputes between U-Verse and Raycom Media, some Ohio residents have not been able to enjoy these favorites.

Apparently, the U-verse is broadcasting in place of the Raycom Media broadcast, and Raycom Media removed the affected channels from U-verse. U-verse claims that this was done in spite of its request that Raycom Media continue as a part of the U-verse channel offerings. Apparently, this change in channel availability was a sudden occurrence for U-verse customers.

How to refinance a commercial real estate loan, part 2

Within the lifetime of your company, you may need to refinance a mortgage loan. This is a normal part of doing business and is nothing to be intimidated by. However, refinancing also requires careful consideration. While a properly worked out refinancing plan can help keep you in business, accepting unfavorable terms could put you in a terrible financial bind.

One of the first things you should find out is the property's current valuation. This is especially true if it has been a while since you first sought mortgage funding. It is possible that the property's value has experienced a significant change. If this is the case, your current loan-to-value calculation may leave you in need for more equity to qualify for refinancing.

What should I include in my business plan?

If you're thinking of starting a business, drawing up a business plan is one of the most important steps you can take. A good business plan will lay out your goals, identify obstacles and help bring focus to your marketing. It's also an essential tool to bring to investors because it shows them the bird's eye view of your plans.

But writing a business plan can seem daunting. Where do you even start? What are you supposed to include? What would investors and employees want to see? In a broad sense, a business plan should include all of the following things:

Breach of contract leads to layoffs and possible litigation

Business managers throughout Ohio make business decisions on a daily basis. It is their job to make sure that each business is operated in the manner in which its shareholders expect. Furthermore, when problems arise, it is the business manager's responsibility to investigate the problem and remedy the situation. In some cases, this remedy can appear to others to be a breach of contract.

Recently, a grocery store chain and the company it hired to staff and manage its warehouse facility reached an impasse. According to the grocery store company, the management company is failing in its ability to manage the facility. As a result, they are terminating their contract with the management company.

Ohio business formation can be challenging but rewarding

The decision to start one's own business can be exciting and a little daunting. There are many questions to answer and decisions to make. However, people in Ohio can take comfort in the fact that 48 percent of those people working in the private sector are employed at small businesses. Those who are ready to take the bold step into business formation have a lot to consider.

The structure of a new company is important to many aspects of the business. Whether a business is formed as a corporation, a limited liability company, a partnership or a sole proprietorship will determine how the business pays its taxes. It will also determine how far creditors and others can reach if a legal claim is filed against the entity.

How to refinance a commercial real estate loan, part 1

At some point in the life of your business, you may find it necessary to refinance a loan or mortgage. While the terms you originally agreed to might have served your needs at the time, it is not unusual to seek terms that are more favorable to your present situation. For example, if your loan requires making a balloon payment in the near future, you could refinance to avoid taking that big financial hit.

A clause that no business contract should be without

Of course, you would not enter a contract agreement that you did not believe would be honored. Still, in the business world, nothing is guaranteed, so well-written contracts are a must for any project. The fact is, sometimes contracts get breached.

Putting the right family member in the right job

It takes a one for all, and all for one attitude to help make a family business run efficiently. Often, family members can perform any number of tasks for the company. This is one of the advantages of a family business; everyone has a vested interest in its success. This means that you may have to vacuum the carpet of the offices, even if you have an accounting degree. Or your wife may spend time driving the company van even though she's a highly skilled chef by trade. What matters is getting things done in any way possible.

A good business plan can perform myriad functions

If you are in the initial stages of starting a new business, you may be feeling a little overwhelmed about the journey that lay ahead. While this period is filled with excitement and anticipation, getting organized is now a priority. To this end, it is high time you start crafting your business plan.

Of course, a business plan can act as a blueprint for building your company, but you can use your plan to perform many other important functions as well, such as the following:

Indemnity clauses can offer you important protections

If you own construction company, you are likely well aware of all the possible problems that can arise during a project. Unfortunately, it is impossible to eliminate every potential disaster that could befall a given undertaking, but you can take measures to protect yourself from the possible financial fallout. And one of the most important steps you can take is making sure that your contracts contain indemnity agreements.

An indemnity agreement can stipulate that others will be responsible for bearing the costs of specified types of damages, including legal costs. There are a variety of instances in which an indemnity clause could protect your interests, including:

  • To cover compensation costs caused by property damages or injuries.
  • If the contract has been breached.
  • In cases of property infringement.
  • To cover liability costs related to negligence.

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