Ohio businesses often enter into written agreements with other businesses or individuals. These contracts contain the terms of those agreements between the parties. A business that decides not to honor a contract faces many potential consequences. Contract disputes can cause damage to one's business in numerous ways.
For many Ohio entrepreneurs, making money is the objective. However, setting definable goals for one's business is an excellent way to plan for success and to bring one's employees into the process of achieving that success. This is why business planning advocates recommend that every business owner create a strategy that identifies the company's priorities and the necessary steps to reach those goals.
It makes sense that large, public corporations receive more press than small businesses. After all, those who have a financial interest in a large corporation may be far-reaching since public companies offer their stock on the open market. However, the most common Ohio business organization is the closely held business, which means only a few people own the company. While closely held businesses have the advantage of allowing owners to maintain control of their companies, there are risks those owners must be careful to avoid.
At some point in time, most Ohio contracts come to an end. This can be because the contract has been fulfilled or one or both parties decide to terminate the contract. When the contract comes to an end due to termination by one or both parties, it is likely that a variety of contract disputes are the root cause and will play a role in what happens going forward.
One of the challenges Ohio commercial property owners are facing is the rise of the digital marketplace. Studies show that 96 percent of consumers do their shopping online, and more industries are hiring remote employees who work from home. This eliminates the need for brick-and-mortar retail and office space. How is a commercial real estate owner to thrive in such conditions?