When reviewing contracts, you’ve probably noticed the phrase “representations and warranties” or “represents and warrants” a dozen or so times and, perhaps, you’ve been curious about how those terms differ, and is it redundant to use both terms? Both representations and warranties are functionally the same, especially in this day and age. In this post we’ll define representations and warranties, and inform you why the traditional use of both terms in your contract may no longer be the best practice.

Understanding the Terms
First, let’s explore the legal definitions and examples of each term:

Black’s Law Dictionary defines “representation” as a statement of fact which was made to induce another to enter into a contract. Typically, representations are statements that a party has…

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I recently read an article that discussed the best places in the world to start a business. Initially, I was drawn in by the headline “Best Place in the World to Start a Company.” The article went on to describe a Yale professor’s argument regarding geography and its importance in the success rate of businesses. It seems as though best startup locations has been a hot topic in the media lately, however, this article gives a markedly different opinion.

Most articles boast the success rates from Silicon Valley or New York City, or  international startup communities like India and Greece. The recent study out of Yale found a different “ideal location” to start a business: your hometown.

Professor Olav Sorenson told the…

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Does your business process credit cards? Do you store customers’ credit card information internally? If so, perhaps you’ve heard of PCI compliance. Payment Card Industry (PCI) compliance is something that is required of every business that stores, processes, or transmits payment cardholder information. The requirements are specific to each payment card company. Below I’ve detailed some tips for ensuring your business is PCI compliant, and some of the reasons why you should make sure your business is compliant.

Tips for Becoming PCI Compliant
PCI Data Security Standard (PCI DSS) is the global data security standard that any business of any size must adhere to in order to accept payment cards, and to store, process, and/or transmit cardholder information. Essentially, PCI DSS offers…

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As our economy begins its (slow) recovery, it’s an excellent time to thoughtfully consider your business ideas and start to write a business plan for launching your start-up. Here’s the best part, you can write your business plan for free. You won’t have to invest anything, other than a little time, to develop a bullet-proof business strategy to grow your business. Today’s post focuses on two initial steps you can take to write a business plan. I’ve also included some tips on how to find easy-to-use online resources to guide you through the process of building a successful business plan.

Determine Who You Are
The first step is to take some time to think about exactly what your business is? What services…

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