By Rob Basso on
2/3/2011 1:36 PM
Guest Post by David Abeshouse, Law Office of David J. Abeshouse.
Perhaps I shouldn’t be telling you this (you’ll see why in a moment), but I think you ought to know.
Many start-ups, professional practices, and other small businesses lack line-items in their budgets for legal representation. But they place themselves (and their owners) in considerable peril when they forego having solid written business agreements. Owners of businesses and professional practices often assume that they have workable understandings with their vendors, associates, and partners. These assumptions often are misguided, because even the process of negotiating an agreement reveals possible future pitfalls and misconceptions that should be addressed now, before they become mortal issues. Lack of a written agreement often means there hasn’t been a true meeting of the minds.