SHATTERPROOF NEWSLETTER
MARCH 2021
WWW.REIBLAW.COM | 940.591.0600
and backward with your strategy firmly in mind, you will still miss some important parts of a good contract. The real problem is you don’t have a system of tactics to implement your strategy. Of course, the best tactic would be to have an experienced attorney review every contract, but I realize that is not always possible. However, if you ask yourself these eight questions before you sign any contract, then your chances of success increase exponentially. "No one intentionally enters into a written agreement that has onerous penalties or vague terms. Everyone wants the security and peace of mind that comes from an airtight, well-written contract.”
8 QUESTIONS TO ELIMINATE SIGNER’S REMORSE AN EXCERPT
The only thing worse than not having a contract is having a bad contract. Over the years, I have seen contract disputes cost businesses hundreds of thousands of dollars in attorney fees and damages. The worst part? Many of those disputes started with a desire to save money. Most of the contracts that get people into trouble were either downloaded from the internet or created by a salesperson. That means an attorney never reviewed any of them. While forgoing an attorney’s expertise at the outset might seem like a good idea to save money, the missing terms or vague and ambiguous language embedded in those contracts often goes undetected — until it’s too late. Ironically, trying to cut expenses in the beginning can expose your business to unexpected costs and liabilities. Virtually everyone has signed a contract at some point in their business career they regretted almost immediately. Of course, no one intentionally enters into a written agreement that has onerous penalties or vague terms. Everyone wants the security and peace of mind that comes from an airtight, well-written contract. Business owners simply don’t have the expertise required to safeguard their interests against poorly written contracts. And why should they? You shouldn’t need a law degree just to run a business — but you should know a good business attorney. My Access Business clients depend on me to keep them out of these bad situations involving even worse contracts. Whether or not you detect problems with a business contract, I can guarantee that your problem is NOT a lack of strategy. Even if you read every contract forward
1. What do you want out of this contract?
2. Does this contract clearly identify important dates, such as deadlines, mileposts, reports due, etc.?
3. Who are the necessary parties to this contract?
4. Does the contract clearly describe amounts of money or other considerations and conditions of the deal?
5. What are the remedies the contract contains for any breaches that occur?
6. Are the rights, obligations, and duties of every party clearly listed?
7. Will your state’s laws apply to this contract?
8. How will disputes related to this contract be resolved?
If you would like to know more about these questions, go to ReibLaw.com/8-questions-free , and we will send you the e-book, “8 Questions to Eliminate Signer’s Remorse.” As a special bonus, you’ll also receive your very own 8 Questions Cheat Sheet. – Scott Reib
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BIZ TOOL OF THE MONTH: AHA!
A CLOUD-BASED PROJECT MANAGEMENT SOFTWARE WORTH CHECKING OUT!
and get feedback about products. On top of that, Aha! also seamlessly integrates with applications like Salesforce, GitHub, Zendesk, and more. Businesses of all sizes, tiny startups and global industry leaders alike, can all benefit from the cloud-based project management software that Aha! provides. Businesses in a number of industries can also use the software, including the education, finance, and legal fields to name a few. Regardless of your business’s size, mission, or industry, one thing is certain: Aha! makes it easy for you to get the most out of their products and services. The service is incredibly user- friendly, populated with examples of features, releases, and goals to help new users understand how each tool works and organizes projects. Many of the features on Aha! are customizable to your preferences. You can also keep your customers in the loop all along the way, as the software allows you to create portals to view deliverables and dependencies related to their projects. If you need any more convincing on why Aha! is worth your time to check out, the company offers users a 30-day free trial with no commitment necessary. So, if you’re looking for one of the best cloud-based project management services out there, you can’t pass up trying Aha!
With all the project management services out there today, Aha! stands out from the pack for several reasons. For starters, this software as a service (SaaS) company is completely self-funded and has grown to be highly profitable without any sort of sales team. They bring timeless values into the modern world, creating cloud-based systems any business can use to further their goals and get products to their customers. Among Aha!’s products are “Aha! Roadmaps,” which lets users visualize their strategies for attaining their goals in a variety of different ways, and “Aha! Ideas,” which lets users crowdsource ideas from within the business community as well as connect and empathize with their customers
OUR CLIENTS SAY IT BEST
“Scott took care of our trust and living will in an efficient, professional manner. We appreciate his attention to detail and ability to help us work through our concerns and questions in planning for our future. We trust him to help us make the best decisions for our family and look forward to our continued partnership.” –Landon T. “Recently started my first LLC with help from Scott. I was initially hesitant to commit to the Access Client service he offers but quickly found that it has allowed me to address multiple questions and concerns that come up when getting a startup off the ground. As an Access
Client, I can communicate with Scott and his team as needed without hourly cost concerns. Great service for business and personal needs.” –Stephen B. “Scott Reib is that rare person who possesses an acute legal mind that is fully integrated with the kind of visionary perspective you would hope to find in a successful entrepreneur. If you are trying to grow your business and protect that growth, you will want to know Scott Reib and have him in your corner.” –Lee T.
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THE BASIC COMPONENTS OF A LAST WILL AND TESTAMENT
KNOWWHERE TO BEGIN
happen as you desire. Your executor can also be a beneficiary in your will. Make sure to include your executor’s address and contact information in the will so when you pass away, they can be contacted to fulfill their responsibilities as soon as possible. BENEFICIARIES Your beneficiaries are the people who you want to inherit your assets and estate. A well-written last will and testament will clearly list your beneficiaries and exactly which assets they are to inherit. Beneficiaries are entitled to know they have been named in your will but cannot collect their inheritance until after the executor makes the necessary arrangements. Whomever you choose to be your executor and your beneficiaries, a last will and testament that is easy to follow will be a blessing in the wake of your passing. A poorly written will can easily cause strife among your family members. So, if you want guidance on how to create a will correctly, visit ReibLaw.com/nlfree to schedule a consultation.
If you’ve ever seen a movie where an attorney reads through a deceased character’s last will and testament, it can make the creation of a will seem easy. All you have to do is write down a list of all the things you own and who you want to leave them to, right? Well, sort of. Determining where your assets go after you pass away is the core purpose of a will, but legally airtight wills can be more intricate than you might think. Any worthwhile last will and testament will have the following core elements.
TESTATOR This is the person who created the will, and the document should list this person’s name. When the testator dies, their assets will be distributed according to their last will and testament. If someone dies without leaving a will behind, that means they have died intestate. EXECUTOR Your will should name someone you trust to ensure your final wishes
ASPARAGUS AND SMOKED MOZZARELLA PIZZETTES
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Inspired by EatingWell.com
In editions of this newsletter, we’ve covered everything from business contracts to how to handle the former spouse who wound up with everything because there was no business succession plan in place. But now we’re wondering: What would you like to see? You know those legal questions that Google can’t give you a satisfactory answer to? The ones that keep you up at night as you wonder whether it’s time to call a lawyer? We want to answer those. Send us your questions, and we’ll use them to address the topics you want to know more about. Text your questions and curiosities to 972.677.3002 .
INGREDIENTS
• 1 cup shredded
• 1 lb prepared whole-wheat pizza dough, divided into 6 equal portions • 12 oz asparagus spears, trimmed and cut into 1-inch pieces • 1 tbsp extra-virgin olive oil • 1/4 tsp salt
5. Remove both trays from the oven, sprinkle cheese over the dough, then top with asparagus and scallions. 6. Return pizzettes to oven and bake until the crusts' edges are golden, about 8–10 minutes. 7. Remove from the oven and sprinkle with walnuts, mint, and orange zest before serving. smoked mozzarella cheese • 1/3 cup scallions, thinly sliced • 2 tbsp walnuts, toasted and chopped • 1 sprig of fresh mint leaves, torn • Zest of 1 orange
DIRECTIONS
1. Preheat oven to 500 F and ensure there are two racks in your oven. 2. Line a large baking sheet with parchment paper, stretch each piece of dough into a 7-by-3- inch oval and arrange evenly on the pan. 3. On a second baking sheet, toss asparagus with oil and 1/4 tsp salt. 4. Place dough on top rack and asparagus on bottom and bake for 3 minutes.
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8 Questions to Eliminate Signer’s Remorse INSIDE THIS ISSUE 1 2 2 3 3 4 Our Clients Say It Best Biz Tool of the Month: Aha! Asparagus & Smoked Mozzarella Pizzettes Netflix’s CEO on Pursuing Your Ideas
The Basic Components of a Last Will and Testament
WHAT CAN A NETFLIX CEO TEACH YOU ABOUT BUSINESS?
Randolph himself is fascinated by the nuts and bolts of business and entrepreneurship: “How does your business test new ideas? Can it happen faster? What’s the cost of having sloppy content hit the internet if it gets you out there sooner? He examines how quickly can you put an idea in front of a customer, “where,” Randolph writes, “you will learn more than you could in five months of R&D.” Randolph addresses these issues and more in “That Will Never Work,” all the while explaining their relevance to entrepreneurs. If you’re looking for more salacious details, he spends much of the first chapter debunking the stories about who had the idea for Netflix and whether or not it was an epiphany. “That story is beautiful,” Randolph writes. “It’s useful. It is, as we say in marketing, emotionally true. But as you’ll see in this book, that’s not the whole story.” The whole story is one we’ll let you read for yourself, and there is plenty more where that came from. Anybody can research Netflix online, but “That Will Never Work” is a rare glimpse into the inner workings of one of the 21st century’s most lucrative and secretive companies. Juicy stories pair well with marketing lessons, and the writing style is easy to get lost in — it really is a page-turner.
If you ask Marc Randolph about his favorite place, he’ll mention an office building in Dallas, where Blockbuster had its corporate headquarters on the 27th floor. Randolph, one of the founders of Netflix and its first CEO, has no illusions about what happened to the former retail giant. In his new book, “That Will Never Work: The Birth of Netflix and the Amazing Life of an Idea,” Randolph shares how Netflix disrupted an industry and took the world be storm, an example every business leader can learn from.
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