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Originally published: August 21, 2020 -- Updated: September 8, 2022

Business contracts are used to protect the rights and interests of one or both parties involved in an agreement and non-disclosure agreements are one of the most commonly used types of contracts. NDAs provide a business with protection by ensuring that proprietary information such as trade secrets, information about a company's finances, or other sensitive information will not be released to the public, made accessible to competitors, or otherwise used against them. Individuals and organizations that use these agreements need to be aware of the laws that address restrictive covenants, when an agreement may be enforced, and the options they may have for protecting themselves.

Businesses will create contracts in a number of different situations, and it is important to make sure the terms of these agreements will provide them with the protection they need. Addressing potential issues when initially drafting a contract or negotiating terms with the other party can save a great deal of difficulty in the long run. With the help of a business law attorney, a company can ensure that it will be able to identify and resolve any concerns while avoiding problems that could lead to financial losses in the future. Some issues to watch out for during the contract drafting and negotiation process include:

There are many types of disputes that may affect a business, and determining the best ways to resolve these conflicts can sometimes be difficult. The approach to addressing business disputes may differ depending on whether a dispute is internal and affects a business's partners, shareholders, or employees, or whether it is external and involves the relationship between a business and other parties.

There are many situations in which business disputes can arise, and in some cases, these issues need to be resolved through litigation. Disputes involving business partners or shareholders can be especially challenging, especially when they are related to disagreements about the direction or management of a company. Business disputes can also involve claims that a party has acted inappropriately or illegally and caused harm to other partners, shareholders, or to the business itself. These cases often involve claims that a person has committed a breach of fiduciary duty. When these issues are handled through the legal system, the parties involved in a dispute need to understand the potential remedies that may be ordered.

Employment contracts will contain a number of terms that affect both the employer and the employee. In many cases, an employer will want to include terms that protect their interests and prevent employees or former employees from taking actions that could harm the company. These may include non-compete agreements that prevent a person from engaging in unfair competitive activities and non-disclosure agreements that prevent employees from releasing confidential information. In some cases, an employer may also ask employees to sign non-disparagement agreements meant to protect a company’s reputation. By understanding the purpose of these agreements and the restrictions they can put in place, employers and employees can ensure that they are properly protected.

Medical debt is a significant issue for many Americans. Large medical bills can be very burdensome, especially for those who are struggling with health issues that may affect their ability to earn an income. In fact, medical debts are one of the most common reasons that people file for bankruptcy. To make matters worse, these debts can continue to affect a person for years, even after debts are paid off or eliminated. A debt that is in collections will often show up on a person’s credit report, lowering their credit score and affecting their ability to receive credit or loans in the future. Fortunately, the credit reporting agencies have announced new policies that may benefit those who have medical debts.

There are multiple types of contractual agreements that businesses may use to protect themselves. In addition to non-compete and non-disclosure agreements that may restrict when and where a former employee can work after leaving a company and prevent them from sharing inside information, non-solicitation agreements may also be used. This type of agreement may prevent a person from contacting employees who work for their former employer and attempting to hire them, or it may restrict a salesperson’s ability to contact former customers and offer goods or services in competition with their former employer.

There are many situations where people may struggle with debt, and this often occurs due to circumstances that are out of a person’s control. Those who are experiencing harassment from creditors and struggling to cover their ongoing expenses in addition to paying what they owe will need to consider their options, and in many cases, bankruptcy can provide an ideal solution. By completing this process, a person, family, or small business owner can eliminate certain types of debts and regain financial stability. However, debtors who are considering bankruptcy may need to be aware of some recent changes to the laws that may affect their eligibility for debt relief based on the amount they owe.