3 Most common mistakes made by small businesses in legal matters

Try to handle the matter themselves- So often small businesses try to save “perceived costs” by just trying to handle commercial disputes. The SB owner thinks he can negotiate any type of deal because that how he/she became a successful business owner. Invaribly, the problem gets worse.
Fail to have contracts reviewed- RY law business clients contact us most often AFTER the matter goes into litigation. The cost and angst of litigation could be saved if the SB owner would allow their attorney to review contracts before being signed. Business owners think the oral representations made are binding. However, this tends to be incorrect because most contracts have “merger clauses.” That is, all representations made prior to the signing of the contract are not binding, but the written document governs.
Ignore the problem – SB owners wear so many hats in the day to day operation. Thus, when a potential problem arises they just think the issue “work itself out.” It often compromises the legal position of the business owner.

Published by Rutledge & Yaghmai