Running a small business typically means you're filling a lot of roles. You may be the person who handles the bookkeeping, the hiring and firing and all the inventory. If you are in charge of contracts, whether with your staff or with vendors, it's important to know what each contract contains before signing it.
Work with an attorney to reduce small business contract issues
How A Missing Comma Cost An Employer $10 Million
A contract between two entities is meant to remove ambiguity and clearly spell out the agreed upon terms. Lawyers often spend hours and even days on contracts, examining every detail, down to each comma and period. While this may seem like overkill to some, a Maine company recently realized the importance of that everyday punctuation—the comma—when a judge ruled that they must pay $10 million to employees due to unclear language in a wage and hour statute.
