Legal Lingo

The devil’s in the details

Legal Lingo

Not understanding common contract terms and failing to renegotiate certain provisions when appropriate can cause unnecessary risk and liability.

Reading the fine print in a business contract is probably not your idea of a good time. You have a busy practice and negotiating contracts is clearly not why you became a veterinarian or hospital administrator. That said, every business owner or manager should have a firm understanding of which contract provisions require careful review. […]

Seal the deal

Legal Lingo

Negotiating the purchase or sale of a veterinary practice requires a firm understanding of all the documents.

The number of mergers and acquisitions occurring in the veterinary industry is unquestionably at an all-time high. Corporate chains and aggregators own as much as 15 percent of general companion animal practices, according to estimates, and the percentage is even higher for specialty practices. This means an increasing number of veterinarians are entering the deal […]

Separation anxiety

Legal Lingo

Noncompete agreements protect the practice when a veterinarian leaves, but they are not always enforceable, so choosing an alternative measure could be a smart move.

Nearly every industry uses employee noncompete agreements, and veterinary practices are no exception. Whether you’re a veterinarian or an administrative professional who has been presented with a noncompete agreement as a condition of employment, or a practice owner considering how to protect your business, you need to know the types of agreements in play, the […]

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