Tag Archive: small business

May
25

Small Business Defined

In an earlier post, we discussed the definition of a small business, as issued by The U.S. Small Business Administration.  We wanted to revise and clarify the posting on what is defined as a small business.  The Federal Register provides a comprehensive listing of size standards, which apply to all SBA programs. Businesses are categorized …

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Feb
04

Important Clauses in Supplier Contracts

Image by Flickr user Lauren Keith (Creative Commons) Many small businesses hire other businesses as suppliers for materials.   Below are several contract clauses that warrant special attention: Term.  The duration of the contract should be very clear.  It should end on a specific date like “one year from the (defined) contract effective date.”  If this …

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Jan
26

The Indemnification Clause. What does it mean?

Many commercial contracts have a provision called the indemnification clause.  Essentially, the indemnification clause is Party A agreeing to step in the shoes of (or “indemnify”) Party B to protect against any losses that Party B may suffer from using Party A’s services or products.  The clause can read something like this: “Software Company agrees to indemnify and hold harmless Web Design Company against any …

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Jan
25

Nondisclosure Agreements and Noncompete Agreements

Non-disclosure agreements and Non-compete agreements What is the difference and does it matter? What is a non-disclosure agreement (NDA)? An NDA, sometimes called a confidentiality agreement, is an agreement that the employee signs to protect sensitive commercial information that the company deems to be valuable to the company’s business.  It can be very broad, requiring …

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