shutterstock_10787044Although many business ventures start out with great hopes many change or move in another direction. Those changes may result in differences amongst the members of that business.  The particular form of business such as Limited Liability Company, S Corp or partnership are governed by different provisions under Rhode Island. Further how you deal with these changes will be impacted by the type of entity.

It is best to explore avenues to make a transition from one path to another . Our experience with negotiating and discussing possible outcomes has helped clients reach a resolution that is quick and much less costly than litigation. Some ventures due to vast differences in philosophy or from sizable losses do result in litigation. Our experience with pursuing and defending litigation in Courts allows us to advise you the client on how to address and manage litigation.

It is best to consult an attorney long before it reaches a point requiring litigation. Many times a consultation with an attorney can assist you in avoiding litigation or obtaining an exit from that particular business. If you have doubts or concerns our office can advise you on the law and options that may be available to you.

A non-compete signed with your employer may have devastating effects if your employment is later terminated. It may affect where and when you can work in your field of expertise. Prior to signing this document it should be thoroughly reviewed. That may allow for changes to be made that are more in line with your concerns and plans if you later leave that employer. These agreements are enforceable in Court and could force you to leave a subsequent employer.

These claims can be made against another party or to your insurance company if there is a loss of business due to the actions of another. Those losses could be the result of a contract dispute or negligent actions. Your claims to the party at fault or to your insurance company if you have insurance for this type of loss are different. Further the gathering and compiling of your records to show your losses must be done immediately.

All businesses whether large or small suffer losses due to bad debts. Prompt and effective practices to collect can help reduce the amount of losses. Prior to extending credit to others the proper steps to minimize potential losses is important. Written contracts, choice of law and the request for attorneys’ fees and collection costs are essential. Your contracts with third parties if properly drafted can help recover some of the costs that maybe incurred .