Entrepreneurs have a lot to consider when they launch new businesses, which is why we always recommend reaching out to professionals to help with legal and financial matters. Once you've dotted the Is on any incorporation or formation documents and crossed all the Ts on your financial plans, though, you aren't completely out of the water. As you start and grow your business, you'll always run into areas where you can make errors, and taking a proactive approach and thinking your way carefully through your plans can help you avoid such errors.
One of the things we advise people to do if they are involved in a car accident is to get the names and contact information of all other drivers and witnesses of the incident. That information can become important if you suffer from injuries or damages and need to file a lawsuit or claim for compensation. But what do you do if someone leaves the accident scene -- especially if that person is the at-fault driver?
While many contract disputes are handled via paperwork and third-parties, there are times you end up face-to-face over the matter. Depending on what's at stake in the dispute, things can easily get heated in these negotiation sessions, but fanning the flames often results in burning both houses down instead of finding a resolution. Here are a few tips to keep things a bit cooler as you navigate contract disputes.
Last week we discussed the topic of IPOs, or initial public offerings, and when and why a company might decide to go public. Economic factors and a company's perceived strengths or weaknesses can both impact whether a business can run a successful IPO, so it's not surprising in periods where markets struggle that companies might seek different paths to going public. One Colorado biotech firm could offer that path for another company.