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Selecting a good business partner

Many residents in New Jersey develop innovative ideas for new businesses but realize they may be best served by having a partner to get their new company off the ground and on the road to success. Finding a good business partner is an art unto itself and can be as much about finding the right partner for a given business and person as anything. What makes someone a good business partner for one entrepreneur can differ for another.

Are oral contracts enforceable?

Most would likely advise that any business transactions conducted in Paramus be handled professionally. For many, "professionally" likely means through negotiation, in writing and (if necessary) with the added assistance of legal counsel. However, due to the unique nature of your business (or your own personal beliefs and values), you still might see the value in a handshake agreement. While such trust between business partners may help to build brand loyalty, it can also be a source of stress if issues ever arise in your attempts to enforce your agreements. 

Can government partners end contracts at their convenience?

Working with government partners in Paramus offers you and your company a certain sense of stability. Such agencies can often be more reliable than private organizations in meeting contractual terms. However, they are also afforded more rights when it comes to getting out of professional agreements. One of those is the ability to terminate a contract "for convenience." 

Non-disclosure agreement basics

In order to successfully conduct business, a company in New Jersey may well have to share confidential information with other parties at times. In order to feel confident doing this, they may find it important to enter into a special type of contract using what is called either a non-disclosure agreement or a confidentiality agreement.

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Nicoll Davis & Spinella LLP

Paramus Office
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Paramus, NJ 07652

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