What is a Contract Addendum? A contract addendum is an attachment or an extension that’s added onto a legal agreement or contract in order to modify, specify, add and/or remove specific terms. It may contain all the particulars of a supplemental or amended agreement, such as signatures of all other parties involved in the original contract, and is usually signed…
Confidentiality Agreements in International Transactions An international confidentiality agreement is a contract between parties in two or more countries that establishes the terms under which parties must protect certain confidential information. This contract is fundamental to building trust with international counterparts and is crucial for protecting information when entering foreign markets. Most often, these international confidentiality agreements are created as…
Introduction To Asset Transfer Agreements Asset transfer agreements, also known as asset purchase agreements, are legal contracts that outline the terms surrounding the transfer of assets from one party to another. Typically, they’re used in the process of buying or selling a business.An asset transfer agreement is essential for the completion of the transfer of all of the seller’s assets;…
Overview of Legal Separation in Illinois Legal separation in Illinois is a formal step a couple can take before fully divorcing. A legal separation agreement is a legally binding contract between spouses that does everything a divorce decree would do – divide assets and debts, allocate parental responsibilities and parenting time, and may even set up future spousal upkeep. Sometimes…
What Is a Dog Adoption Contract? What is the purpose of a dog adoption agreement contract? In most circumstances, the majority of the dog adoption contract provisions are for the protection of the organization placing a dog in the home or for the protection of the adopted pet. It obligates the owner to care, treat and love their newly adopted…
What is Contractor Insurance? Contractor insurance refers to a wide range of liability insurance coverages used by contractors, subcontractors and other tradespeople involved in renovation, maintenance or construction projects. The general purpose of contractor insurance is to protect policyholders against certain risks and losses associated with their work, including those involving liability under common law (such as negligence) and statutory…
Employment Law Contingency Explained Employment law on a contingency basis means that you don’t pay the law firm an hourly fee for their services. Instead, if your case is successful at trial, you are charged a percentage of the final award or settlement. Of course, the amount of this percentage is negotiable, but the general rule is that employment law…
Introduction to Contract Types Cost-plus contracts and fixed price contracts are two of the most common ways to structure a construction contract. Understanding how each type operates is essential in order to determine which option is appropriate for your construction project.What is a Fixed Price Contract? Fixed price contracts are, as the name suggests, a predetermined price for a specific…
What are OTFs? OTF: Out-The-Front. A mechanism that permits easy deployment and retraction of a blade using a simple sliding motion. Think of it as the knife equivalent of a garage door opener. These knives, also commonly referred to as "switchblades", are activated by a button (or lever in the case of D-Ring knives) to expose the blade, and often…
An Introduction to In-House Legal Positions A wide variety of in-house roles exist for legal professionals, all of which can be divided into transactional and litigation roles. Within these areas are many specialized roles, including real estate, construction, securities, corporate, tax, antitrust, intellectual property, labor and employment, and privacy. Most law firms do not have the depth of staffing in…