Scope creep is a term that’s often used in the construction industry. It refers to situations where the initial goals of a project begin to expand or change as the project goes on. In smaller projects, scope creep can result in additional tasks, pushing deadlines and...
Business Law
What to consider when creating a succession plan
Running a business can come with more risks as it grows, making strategizing essential to help it maintain stability. When foreseeing incidents that can disrupt the organization, its leaders should take various methods to help keep operations running smoothly, such as...
How can an ADR clause affect a construction dispute?
Disputes related to construction projects and alleged construction defects can do real damage to businesses and professionals. The process of navigating a construction dispute is often quite costly and can take months or possibly more than a year if the matter goes to...
What to review when doing due diligence before buying a business
Buying a business can be a beneficial investment, but it may require as much effort and commitment as starting from nothing. It often seems like the easier option because it already has existing operations and other assets usually determined during planning or...
How to reserve your business name prior to registering your LLC
Building a strong brand starts with choosing the right name for your business. This name doesn't just define what you do — it also influences how your clients will perceive you. If you're planning a business in Massachusetts and have a name in mind, but you aren't...
Three key considerations for commercial loan approvals
A business may seek a commercial loan to secure funds for various purposes, such as expanding operations, purchasing equipment or managing cash flow. To increase their chances of success, businesses must be aware of what influences loan approval. Lenders often assess...
4 kinds of construction clients you may want to avoid
Every industry has its fair share of difficult clients – and most contractors don’t mind the fact that clients can be somewhat demanding. After all, there’s a lot at stake, financially and emotionally, in every construction project. However, some clients should make...
When does business restructuring apply to small businesses?
Business restructuring refers to the deliberate reorganization of a company's structure, operations or finances to achieve specific goals. It is like giving your business a makeover to keep up with the ever-evolving market demands. While business restructuring is...
The potential benefits of forming an LLC
As a business owner, you might be contemplating whether to operate as a sole proprietorship or establish a limited liability company. While both options have their merits, there are several reasons why you might prefer an LLC over a sole proprietorship: One of the...
6 types of employment contracts
When hiring workers for your business, you may consider creating an employment contract for them to read and sign. Employment contracts are agreements that define the relationship between workers and employers. An employment contract comes in written, inferred or oral...