Breaching a contract in Michigan is a serious matter that could cause thousands of dollars in damages. A letter of intent is generally non-binding, but the terms can be written to be binding, so the plaintiff can use this document to sue the defendant for damages....
Contracts
How to negotiate a business contract in Michigan
Michigan law requires that you negotiate contracts in good faith. This means that you must not seek an unconscionable advantage, attempt to defraud or have malice when you negotiate a contract. The goal is to find an agreement that satisfies both sides. Ask what's...
Important steps when negotiating licensing agreements
Negotiations begin as soon as someone else shows interest in your idea or invention. Every major deal in Michigan must be written down in a formal agreement. Negotiations are made and continue for as long as necessary to help you get the fairest deal. Make sure it's...
What to consider when drafting a contract
A contract protects parties to the contract when something goes wrong or can, in some circumstances, prevent something from going wrong. For that reason, when negotiating a contract, parties to the contract should know what to consider when drafting a contract....
Are these crazy times a force majeure event?
These crazy times have affected every aspect of our lives. This includes both our personal and business lives. Business law has not gone unaffected, which begs the question, can these crazy times be used as an excuse to not perform a contractual obligation? Well, like...
Contracts should have individualized drafting
A contract is a critical legal document that a business can use for a myriad of purposes. A company may use contracts to establish agreements with vendors or other entities, and it likely uses contracts to secure employees into work roles. A well-drafted contract can...
Is my NDA enforceable?
Business owners want to keep their recipe for success a secret. But many know they must share information with third parties to continue growth and maintain a healthy bottom line. Because of this, many enter nondisclosure agreements with third parties they work with....
The importance of volunteer screening
Many Michigan nonprofits use volunteers to serve the community in significant ways. Unpaid workers are often the heart and soul of any charitable organization. They are responsible for working directly with those who benefit from the organization’s mission as the...
What should I look for in a contract review?
Before signing on the dotted line in Detroit, it is important to understand the nature of the contract that you are agreeing to. One of the most important aspects of contract design is the review process. There are certain things that you should be looking for, no...
How much protection can a contract give your business?
Protecting your business and its resources, competencies and intellectual property is critical to its long-term success. One way that you can prevent costly losses because of other people or entities taking advantage of your company and its initiatives is to require...