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What is a security interest?
A security interest is an interest in property—real estate or otherwise—that secures repayment of a debt or performance of some other obligation. If the party that grants the security interest fails to fulfill its obligation, then the holder of the security interest can normally take possession of the asset in question and sell it in order to recoup...
Everything You Need to Know about Security Agreements
As a business owner, you probably need access to credit. Some of your best options for obtaining credit probably involve securing your debt with collateral. This approach could help you obtain a lower interest rate, or credit in the first place. If a creditor has security interest in your property, it will likely be outlined in a security agreement....
Common Invoicing Pitfalls and How to Prevent Them
Invoicing is perhaps the least exciting part of owning your own business. You would likely much rather be doing the actual work that adds value to your customers instead of running through paperwork. However, invoicing is absolutely vital to your business: it is what keeps your cash flow in check and pays your bills. Because invoicing is so vital, y...
Are Arbitration Agreements Effective Tools?
As law progresses and builds upon past common law and similar traditions, it is understandable that we often forget the history of the law's evolution. This is especially true where dispute resolution is concerned, since diverse tribunal systems have resolved commercial disputes since the Middle Ages. Mercantile disputes in England, for example, wer...
Dispute Resolution: The Benefits of an Arbitration Agreement
No one ever wants to deal with a conflict within their business, but that does not mean it never happens. Unfortunately, there are disputes between business partners all the time, and many of them would like to avoid going to court if they......
How to Create a Website Privacy Policy
If you have a business website, then no matter its use, you need to have a strong privacy policy. If you do not have a website privacy policy in place, you could be putting your business and your website at risk. Before diving into how to......
Do Independent Contractors Need Insurance?
The short answer is 'yes.' Independent contractors do need insurance, and for a variety of reasons. Depending on the type of work you do, you may need liability insurance, errors and omissions insurance, or both. Learning more about different......
The Basics of Software License Agreements
If you create software for customers, then you need to consider creating a software license agreement to help protect you and your business. There are many reasons to have one in place, so if you do not yet have one, it is time to start......
Loan Agreements: Everything You Need to Know
A loan agreement is a very complex document that can protect the two parties involved. In most cases the lender creates the loan agreement, which means the burden of including all of the terms for the agreement falls on the lending party.......
Amending a Contract: When and Why
Written contracts play a vital role in both everyday life and in business. Without them, disputes would have to be decided by weighing one person’s word over another. Contract amendments are also often just as important as the contract itself.......