Alex Denne
Growth @ Genie AI | Introduction to Contracts @ UCL Faculty of Laws | Serial Founder

Developing a Winning Business Plan

9 Jun 2023
28 min
Text Link

Note: Links to our free templates are at the bottom of this long guide.
Also note: This is not legal advice

Introduction

For business owners, entrepreneurs and start-ups, it’s essential to have a comprehensive and well-crafted business plan. A good business plan is like a roadmap to success; an invaluable tool that outlines objectives, strategies, goals and tactics needed to achieve them. It is the blueprint for the future of your company, allowing decision-making processes to be informed by potential risks and opportunities.

Creating a business plan can seem daunting at first but it’s an important first step in any venture. When done right, it allows you to articulate your mission and vision in clear terms. From there, you’re better able to strategise effective marketing plans and determine how successful your initiative has been or will be - this all helps when trying to secure funding from banks or other financial institutions who often require the document before approving investment.

In addition to helping funders understand why they should invest in you; having a sound business plan also facilitates better financial management. Predictions about cashflow as well as budgets are key elements included with any good proposal which then allows entrepreneurs more control over their resources as well as helping them make smarter decisions about where their money should go – do I need this extra person? Should I hire now before prices increase? Having these answers ready allows more room for growth while still staying on track with long term objectives.

Finally (and perhaps most importantly) having a solid business plan helps entrepreneurs remain organised and focused on what matters most: setting goals that lead down the path of success! A business plan serves not just as a guide but also provides clarity of purpose when challenges arise – without getting lost along the way!

At Genie AI we provide free templates made up of millions of data points so that anyone can draft high quality legal documents without paying a lawyer or using jargon they don’t understand - ultimately giving everyone access to resources that could help put them ahead of competition. With our step-by-step guidance on how best use our template library today anyone can make sure their initiatives are built upon strong foundations from day one!

Definitions

Contents

  1. Define Your Business Goals and Objectives
  2. Understand Your Market
  3. Identify Your Target Audience
  4. Research Your Customers
  5. Analyze Your Competitors
  6. Research Your Competitors
  7. Identify Your Competition
  8. Analyze Your Competitors’ Strengths and Weaknesses
  9. Analyze Your Financials
  10. Analyze Your Startup Costs
  11. Develop a Cash Flow Statement
  12. Analyze Your Profit and Loss Statement
  13. Create a Business Plan Outline
  14. Describe Your Products and Services
  15. Define Your Product or Service
  16. Describe Your Product or Service
  17. Analyze Your Pricing Strategy
  18. Develop a Marketing Plan
  19. Identify Your Channels for Advertising and Promotion
  20. Outline Your Branding Strategy
  21. Describe Your Distribution Strategy
  22. Outline Your Operational Plan
  23. Describe Your Production Process
  24. Define Your Quality Assurance Process
  25. Outline Your Management and Employee Training Strategies
  26. Create an Organizational Structure
  27. Identify Your Key Personnel
  28. Define Their Responsibilities
  29. Outline Your Job Descriptions
  30. Develop Your Financial Plan
  31. Analyze Your Funding Options
  32. Create a Budget
  33. Develop Your Profit and Loss Statement
  34. Finalize Your Business Plan
  35. Write Your Executive Summary
  36. Gather Supporting Documentation
  37. Format Your Plan
  38. Review and Revise Your Business Plan
  39. Conduct a Self-Review
  40. Obtain Feedback From Your Peers
  41. Revise and Update Your Plan

Get started

Define Your Business Goals and Objectives

  • Make a list of the top three long-term goals you want your business to achieve
  • Brainstorm the actionable steps you need to take to reach those goals
  • Identify any key performance indicators (KPIs) you can use to measure your progress towards those goals
  • Create a timeline of when you want to start and complete each action
  • Outline what resources you need, such as funding, staff, and materials
  • When you’ve written down everything you need to do, take the time to review and refine your goals and objectives
  • You’ll know you can move on to the next step when you have clearly defined and documented your business goals and objectives.

Understand Your Market

  • Research the industry you’re entering and any competitors you may have
  • Analyze the current trends and opportunities available in the market
  • Understand what your customer needs are and what they are willing to pay for
  • Identify the potential risks and challenges you may face
  • Identify any potential partners or collaborators

When you have completed this step, you should have an understanding of the market, your competitors, and your customer needs. This should provide you with the necessary insights to craft a winning business plan.

Identify Your Target Audience

  • Determine who your primary target audience is, and any secondary audiences you may have
  • Consider factors such as age, interests, income level, and location
  • Develop a profile of your target customer including their needs and wants
  • Analyze existing customer data to identify trends and patterns
  • Create a list of potential customer segments
  • Check off this step when you have identified your target audience and created a profile of your target customer.

Research Your Customers

  • Gather information on current and potential customers, such as their demographics, preferences, and buying habits
  • Research how your customers currently make purchasing decisions
  • Learn what motivates them to buy products and services
  • Identify current and potential competitors
  • Analyze their strategies, products, and services
  • Analyze customer feedback and reviews
  • When you have gathered all the information you need, you can move on to the next step.

Analyze Your Competitors

  • Identify direct and indirect competitors in your market
  • Research their history, products/services, pricing, market positioning and competitive advantages
  • Analyze the competitive landscape and identify potential threats and opportunities
  • Evaluate each competitor’s strengths and weaknesses to determine their competitive advantage
  • Estimate potential market share based on competitor analysis
  • When you have a clear understanding of your competitors and their competitive advantages, you can move on to the next step.

Research Your Competitors

  • Conduct an online search to find out what competitors are doing in the same market
  • Use industry reports and data sources to compare prices, services and products
  • Identify the weaknesses and strengths of your competitors
  • Attend trade shows, conferences and industry events to learn more information
  • When you have identified the key competitors in the market, you can check this off your list and move on to the next step.

Identify Your Competition

  • Identify the key competitors in your industry
  • Research their company size, success rate, market share, and any other important information
  • Identify the competitive advantages and disadvantages each competitor has
  • Analyze their competitive strategies and approach
  • List out the competitive threats they may pose to your business

You will know you can check this step off your list and move on when you have identified the key competitors in your industry, researched their company size, success rate, market share, and any other important information, and identified the competitive advantages and disadvantages each competitor has.

Analyze Your Competitors’ Strengths and Weaknesses

  • Gather information about your competition, such as their product offerings, pricing, customer service, and promotional activities.
  • Compare your offerings to theirs and make note of the differences.
  • Take note of their strengths and weaknesses for each aspect of their business.
  • Identify any areas where your business has an advantage or disadvantage.
  • Determine any areas where you can better compete with them.

When you can check this off your list and move on to the next step:

  • You will know when you have identified and analyzed your competitors’ strengths and weaknesses and compared your offerings to theirs.

Analyze Your Financials

  • Review your current financial situation, including your personal finances and any existing business financials
  • Calculate your startup costs and determine how much funding you’ll need
  • Calculate your expected revenues and expenses
  • Identify any potential risks and anticipate how you’ll handle them
  • Analyze your business model and determine how you can best generate revenue
  • Identify potential sources of funding and create a plan to secure the funds you need

You’ll know you can move on to the next step when you’ve calculated your expected revenues and expenses, identified potential sources of funding and created a plan to secure the funds you need.

Analyze Your Startup Costs

  • Gather all necessary documents to accurately determine startup costs
  • Calculate all costs associated with starting the business, including legal fees, business licensing, equipment, and supplies
  • Estimate the costs of any overhead expenses, such as rent, insurance, and utilities
  • Research and include any other costs you may need to pay, such as taxes and fees
  • Understand the cost of marketing and advertising
  • Include a cushion for unexpected costs
  • When you have an accurate view of all startup costs, you can move on to developing a cash flow statement.

Develop a Cash Flow Statement

  • Collect all the financial records of your business, such as income statements, balance sheets, expenses, and cash flow statements
  • Calculate your net income/loss for the period of time you are analyzing
  • Track all sources of income, such as sales, investments, loans, and grants
  • Track all expenses, such as payroll, rent, supplies, and taxes
  • Enter all income and expenses into a spreadsheet program
  • Calculate the net cash flow for the period of time you are analyzing
  • Analyze the data to identify any potential cash flow problems, such as uneven cash flow or high debt levels
  • Adjust your budget and business plan accordingly to address any issues identified
  • Check off this step when you have completed the cash flow analysis and adjusted your budget and business plan accordingly.

Analyze Your Profit and Loss Statement

  • Review the income and expenses of your business over the last 12 months
  • Identify any profit/loss trends from these figures
  • Calculate your average monthly income and expenses
  • Estimate future income and expenses for the coming year
  • Analyze the profitability of your business

You can check this off your list when you have a clear understanding of your current and future profitability.

Create a Business Plan Outline

  • Create a table of contents for your business plan
  • Break down the business plan into sections that include an executive summary, company description, market analysis, organization and management, products and services, marketing and sales plan, funding request, financial projections, and an appendix
  • Include a brief summary of each section
  • Make sure to include all the important components of a business plan
  • Once the outline is complete, you can begin to fill in the details in each section.
  • You’ll know when you can move on to the next step when your outline is complete and you are ready to start drafting the individual sections.

Describe Your Products and Services

  • Detail the products and services you offer, from the customer’s perspective
  • Explain why these products and services are necessary and will be beneficial to the customer
  • Explain the primary features and benefits of each product and service you offer
  • If applicable, provide information about the size, weight, color, and other characteristics of the products and services you offer
  • Note any patent, copyright, or trademark protection for your products and services
  • When you have finished this step, you will have a clear description of the products and services you offer.

Define Your Product or Service

  • Understand the need your product or service will fill
  • Identify your target market
  • Research the competition
  • Develop a unique selling proposition
  • Develop a pricing strategy
  • Create a product or service description
  • Know the value of your product or service
  • When you can confidently answer the questions of what you’re selling, who you’re selling it to, how it’s different from the competition and how much it will cost, you can check this step off your list and move on to the next step.

Describe Your Product or Service

  • Outline the features and benefits of your products or services
  • Identify who will use your products and services and how they will be used
  • Describe the competitive landscape and how your product or service is different from others
  • Research the market for similar products or services and document the size and growth potential of the market
  • Determine how you will position and brand your product or service in the marketplace
  • When you have documented all the features and benefits of your product or service, as well as the competitive landscape and market potential, you can move on to the next step of analyzing your pricing strategy.

Analyze Your Pricing Strategy

  • Research the prices of competing products or services in the market
  • Consider the cost of production and delivery of your product or service
  • Estimate the amount of profit you’d like to make
  • Calculate the price point necessary to make that profit
  • Consider the value customers will receive from your product or service
  • Decide if you will offer discounts or promotions
  • Document your pricing strategy

When you can check this off your list and move on to the next step:

  • When you have decided on the optimal pricing strategy for your product or service.

Develop a Marketing Plan

  • Establish the marketing objectives for your business plan
  • Research and identify potential target markets for your product or service
  • Develop a positioning and branding strategy for your product or service
  • Develop a competitive analysis to determine how you stand in relation to your competitors
  • Research and determine the most effective marketing channels for your product or service
  • Develop a promotional campaign and marketing budget to achieve your objectives
  • Develop a timeline of when you will implement each marketing activity

You can check this off your list and move on to the next step when you have created a comprehensive marketing plan that outlines all of the activities you plan to undertake to effectively promote your product or service.

Identify Your Channels for Advertising and Promotion

  • Brainstorm a list of potential channels for your advertising and promotion such as TV, radio, print, digital, or influencers
  • Consider your target audience and what channels they are most likely to respond to
  • Research the cost of using each channel and create a budget for each
  • Select the channels that you feel will work best for your business
  • When you have selected the channels that you will use, you can move on to outlining your branding strategy.

Outline Your Branding Strategy

  • Define your target market
  • Identify key USPs of your product or service
  • Identify key brand values
  • Create a tagline
  • Describe your brand’s essence and personality
  • Develop design elements such as color palette, fonts, and logo
  • Create brand guidelines
  • Once you have outlined your branding strategy, move on to the next step of describing your distribution strategy.

Describe Your Distribution Strategy

  • Analyze the target market and determine the best way to reach them
  • Decide on which channels you will use to distribute your product or service
  • Consider factors such as cost, convenience, geographical location, and customer service when deciding
  • Map out a timeline for when and how you will distribute your product or service
  • Outline any legal regulations or requirements that your distribution strategy must follow
  • Identify any potential distributors or partners who could help you reach your target market

When you have determined the best way to reach your target market, the timeline for distribution, and identified potential distributors, you can check this off your list and move on to the next step.

Outline Your Operational Plan

  • Create an operational plan that details how your business will be run on a day-to-day basis
  • Break down your operational plan into individual tasks, such as staffing, inventory management, customer service, and quality control
  • Identify the resources you need to complete each task, such as personnel, equipment, and technology
  • Establish a timeline for each task and assign deadlines
  • Outline the procedures you’ll use to monitor your progress and make adjustments as needed
  • When you’ve completed your operational plan and established a timeline for each task, you can check this off your list and move on to the next step.

Describe Your Production Process

  • Identify the resources required for production
  • Develop a timeline of the production process
  • Outline the materials and equipment needed
  • Outline the processes to be undertaken
  • Identify the personnel needed
  • Evaluate the production process and make adjustments as necessary
  • Calculate the cost of production

When you have completed the above steps, you will have a clear understanding of how your production process works and how much it will cost.

Define Your Quality Assurance Process

  • Identify key quality control checkpoints and procedures.
  • Determine which quality assurance personnel will be responsible for each process.
  • Create a quality assurance checklist or guide for each process with clear instructions and expectations.
  • Develop a system for tracking and monitoring quality assurance procedures.
  • Establish a quality assurance team or committee to review and evaluate quality processes.
  • Establish a system for reporting and addressing any quality control problems.

How you’ll know when you can check this off your list and move on to the next step:

  • When you have identified, documented, and communicated all quality control checkpoints and procedures to the appropriate personnel.
  • When you have developed a system for tracking and monitoring quality assurance procedures.
  • When you have established a quality assurance team or committee to review and evaluate quality processes.
  • When you have established a system for reporting and addressing any quality control problems.

Outline Your Management and Employee Training Strategies

  • Identify the specific training needs of each role in your business
  • Develop an onboarding plan for new employees
  • Develop a process for ongoing training and professional development
  • Develop a performance review process
  • Create a plan for tracking successes and failures of each employee
  • Establish a timeline for implementing the training and performance review process
  • Establish a budget for employee training

When you can check off this step and move on to the next step:

  • When you have created a comprehensive plan for employee training and management that includes onboarding, ongoing training, professional development, performance reviews, tracking successes and failures, and budgeting.

Create an Organizational Structure

  • Define the roles and responsibilities of each member of the team
  • Create a chart or diagram to illustrate the roles and relationships between team members
  • Allocate resources to different roles and responsibilities
  • Outline the reporting structure and chain of command
  • Develop a process for bringing new members into the organization
  • When you have a clear understanding of the roles and responsibilities of each team member, you can check this off your list and move on to the next step.

Identify Your Key Personnel

  • Identify the key personnel that will be essential to the success of the business plan
  • Include those at the top of the organizational chart such as the CEO, COO, CFO, etc.
  • Also identify those at lower levels of the organizational structure such as managers, supervisors, and other personnel
  • Consider the roles and responsibilities of each key personnel and how they will contribute to the overall success of the business plan
  • Develop a timeline for when each key personnel should be in place and when they can start working
  • When you have identified the key personnel and developed a timeline for their involvement, you can move on to the next step of defining their responsibilities.

Define Their Responsibilities

  • Assign roles and responsibilities to each key personnel
  • Determine the required qualifications for each role
  • Outline the time commitment for each role
  • Identify the reporting structure for each role
  • Establish a code of ethics for personnel
  • Establish a system of accountability
  • When you have assigned roles, mapped out responsibilities, identified qualifications, and determined reporting structures, you can check this off your list and move on to the next step.

Outline Your Job Descriptions

  • Create job descriptions for each position needed in your business
  • Include job title, job roles, and required qualifications
  • Outline the skills and experience that would be beneficial for each position
  • Assess any legal requirements associated with each position
  • Specify job responsibilities and duties that are required
  • Estimate the number of hours each position will require
  • Consider the salary range you can offer
  • When you have outlined each position, you can move on to developing your financial plan.

Develop Your Financial Plan

  • Determine the startup costs for your business, including any necessary equipment, permits, or licenses
  • Estimate the cost of doing business on a monthly and yearly basis
  • Research and include projected revenue figures
  • Decide on pricing models and list them in the plan
  • Estimate expenses based on the cost of goods sold, labor, overhead, and other overhead costs
  • Calculate and include cash flow projections
  • Calculate the break-even point for your business

When you can check this off your list:

  • When you have estimated and included all the necessary costs and expenses for your business
  • When you have determined and included the pricing models for your business
  • When you have calculated and included the cash flow and break-even point for your business

Analyze Your Funding Options

  • Research potential sources of funding such as venture capital, traditional bank loans, and small business grants
  • Make a list of the pros and cons associated with each type of funding
  • Contact potential lenders and investors to discuss funding options and get quotes
  • Compare quotes and select the funding option that is best for your business
  • Negotiate terms and finalize the funding agreement
  • When the funding agreement is finalized, you can check this off your list and move on to creating a budget.

Create a Budget

  • Create a list of every item you will need to spend money on for your business
  • Include startup costs, operating expenses, and any other expenses you might need to consider
  • Estimate how much each item will cost and add them up to create a total budget
  • Evaluate your budget and identify any areas where you can cut costs
  • When you have a realistic budget in place, you can move on to the next step.

Develop Your Profit and Loss Statement

  • Create a spreadsheet to track your anticipated revenues and expenses
  • Estimate your sales by researching the market, competitors, and industry trends
  • Break down your expenses into categories such as materials, overhead, and labor
  • Include expected taxes, insurance, and other costs you may incur
  • Calculate the net profit or loss you anticipate over the course of a year
  • Adjust your estimates as needed to get an accurate and realistic picture
  • When you have a complete and accurate P&L statement, you can move on to the next step.

Finalize Your Business Plan

  • Review your business plan to make sure it meets all of your objectives
  • Check for accuracy and completeness of all sections
  • Make sure each section is consistent with the others
  • Have a qualified person look over your business plan and provide feedback
  • Revise your business plan based on feedback
  • Finalize your business plan and save it in a secure location

You can check this step off your list when your business plan is finalized and accurate.

Write Your Executive Summary

  • Summarize your business plan in a few sentences
  • Include your mission statement and a description of the products/services your business will offer
  • Outline the financial goals you wish to accomplish
  • Describe the target market and your competitive advantage
  • Summarize the key factors that will make your business successful
  • Check that the executive summary is concise and clear
  • Make sure that you have included all the key points from the business plan
  • When you have completed the executive summary, you can move on to the next step.

Gather Supporting Documentation

  • Collect any pertinent documents such as your company’s financial statements, tax returns, and other records
  • Gather any industry research or reports you may have completed
  • Collect any relevant legal documents such as contracts or agreements
  • Identify any third-party resources you need to consult with to complete your business plan
  • When you have all the necessary documents, you can move on to formatting your plan.

Format Your Plan

  • Start with a cover page that includes your company’s name, logo, address, contact information, and date.
  • Include a table of contents that lists each section with page numbers.
  • Write a one-page executive summary that includes the main points of your business plan.
  • Include a company overview that includes your mission statement and a brief description of your products and services.
  • Provide the details of your market analysis and target customer base.
  • Describe your competitive advantage, and explain how your company will stand out from the competition.
  • Outline your marketing and sales strategy.
  • Describe your management team and their qualifications.
  • Include detailed financial projections, including income statements and cash flow statements.
  • Include any supporting documentation that backs up your plan.

When you can check this off your list and move on to the next step:

  • You will know that you have completed this step when you have finished formatting your business plan, including all the required components, such as the cover page, table of contents, executive summary, company overview, market analysis, competitive advantage, marketing and sales strategy, management team, financial projections, and supporting documentation.

Review and Revise Your Business Plan

  • Read through the business plan to identify any areas that need improvement
  • Review any financial projections and determine if they are realistic
  • Ask colleagues or mentors to review the plan and provide feedback
  • Incorporate any feedback or suggestions into the plan
  • Compare the business plan to the original objectives and goals
  • Make sure that all assumptions and research are backed up and accurate
  • Check for any grammar or spelling errors
  • Make sure the plan is easy to read and understand

You can check off this step when you have revised the business plan to include any feedback and all assumptions and research is accurate.

Conduct a Self-Review

  • Examine your plan’s strengths and weaknesses
  • Identify any inconsistencies or areas in which you may need to provide further explanation
  • Make sure that your plan is realistic and achievable
  • Ask yourself if your plan is consistent with your mission, vision, and values
  • Check that your plan is comprehensive and covers all key areas
  • When you are satisfied that your plan is complete, you can move on to the next step.

Obtain Feedback From Your Peers

  • Ask your peers for input and feedback on your business plan
  • Make sure to ask for what type of feedback you want from them
  • Review the feedback from your peers and incorporate it into your plan
  • Make any necessary adjustments and corrections to your plan
  • Confirm with your peers that the changes are satisfactory
  • Check off this step when you have completed the revisions to your plan based on the feedback from your peers.

Revise and Update Your Plan

  • Review all feedback you have received, including feedback from your peers.
  • Make necessary adjustments to your plan and ensure all the information is current and accurate.
  • Double-check all financial projections and make sure they are realistic and achievable.
  • Ensure all the objectives and goals are still in line with your overall mission and vision.
  • When you have finished making all the necessary changes, be sure to update the final version of your plan.

You will know when you can check this off your list and move on to the next step when you have finished making all the necessary changes, updated the final version of your plan, and verified that all financial projections and objectives are realistic and achievable.

FAQ

Q: How do US laws differ from UK laws when it comes to invoicing?

Asked by Jessica on 29th April 2022.
A: The laws regarding invoicing differ significantly between the US and the UK. In the US, invoices are governed by the Uniform Commercial Code (UCC) and must include certain information such as the date of the invoice, the seller’s address, the buyer’s address, a description of the goods or services sold, payment terms and conditions, and any applicable taxes. In the UK, invoices are governed by the Consumer Rights Act and must include a description of the goods or services sold, the price of each item, any discounts applied, payment terms and conditions, and any applicable taxes. Additionally, in the US, businesses must also provide invoice numbers for each transaction for tax purposes. In the UK, businesses must also provide an invoice reference number on each invoice for tax purposes.

Q: What additional considerations should I make when creating invoices for an EU-based business?

Asked by Jacob on 12th May 2022.
A: When creating invoices for an EU-based business, there are a few additional considerations that you should keep in mind. Firstly, businesses located in EU countries should comply with local VAT regulations and may be required to charge applicable taxes on their invoices. Additionally, businesses should ensure that their invoices include an EU-specific standard payment identifier such as SEPA or IBAN to ensure that payments can be processed quickly and efficiently. Lastly, businesses should ensure that their invoices comply with local accounting standards and any other applicable regulations in order to avoid any potential fines or penalties.

Q: Is there a difference between an invoice for a SaaS business versus a Technology business?

Asked by Emma on 2nd June 2022.
A: Generally speaking, there is not much difference between an invoice for a SaaS business versus a Technology business. However, there may be some slight differences depending on the particular services provided by each type of business. For example, SaaS businesses may require specific terms and conditions related to subscription services whereas Technology businesses may need to specify additional details such as warranties or support plans related to their products or services. Additionally, both types of businesses should ensure that they comply with applicable laws and regulations regarding invoicing in their particular jurisdiction.

Q: Are there any best practices I can use to make sure my invoice is sent out properly?

Asked by John on 18th July 2022.
A: Yes! There are several best practices that you can use to make sure your invoice is sent out properly. Firstly, you should make sure that all of your invoices are sent out in a timely manner in order to avoid any potential late fees or penalties from your customers. Additionally, you should double-check that all of your invoices include all of the necessary information such as payment terms and conditions and applicable taxes before sending them out. Lastly, you should also regularly review your invoicing process to make sure it is as efficient as possible and consider using an automated system to streamline your workflow if appropriate.

Q: What are some tips for writing a clear invoice?

Asked by Emily on 5th August 2022.
A: Writing a clear invoice is essential in order to ensure that your customers understand exactly what they are being billed for and when payment is due. Firstly, make sure your invoice includes all necessary information such as a description of goods/services sold, payment terms and conditions, applicable taxes etc., while avoiding any unnecessary details which could cause confusion. Additionally, use plain language whenever possible so that customers can easily understand what they are being billed for; avoid jargon or technical terms where possible unless absolutely necessary. Lastly, be sure to double-check your spelling and grammar before sending out your invoice – small mistakes can give customers a bad impression!

Q: Are there any legal requirements I need to be aware of when sending out an invoice?

Asked by Michael on 21st August 2022.
A: Yes – depending on your jurisdiction there may be certain legal requirements which you need to be aware of when sending out an invoice. For example in the US businesses must include certain information such as payment terms and conditions as well as applicable taxes on all invoices; failure to do so could result in fines or penalties from regulatory authorities. Additionally, businesses should also review any local regulations regarding data protection or privacy when sending out digital invoices in order to ensure compliance with applicable laws.

Example dispute

Breach of Contract:

  • Breach of an express or implied contract
  • Plaintiff must show that the defendant had a contractual obligation either expressed or implied
  • Plaintiff must show that the defendant failed to fulfill the obligations of the contract
  • Plaintiff must show that they suffered an injury or damages as a result of the breach
  • Plaintiff may reference a business plan as evidence of an express or implied contract, and they may be entitled to damages if they can prove that the defendant failed to fulfill the obligations in the plan.
  • Settlement may be reached through negotiation or payment of damages. Damages may be calculated based on the terms of the business plan, or by other methods such as the cost of replacing the services or goods that were to be provided under the plan.

Templates available (free to use)

Amended Articles Of Association For Public Limited Companies
Amended Optional Articles Of Association For Public Limited Companies
Articles Of Association For Joint Venture Company With Individual Shareholders
Articles Of Association For Joint Venture Deadlock
Articles Of Association For Joint Ventures With Non Equal Shareholdings
Articles Of Association Freehold Residents Management Company
Member Resolution To Amend Articles Of Association
Model Articles Of Association Bvca
Sample Articles Of Association Non Leveraged Vc Equity Investment
Sample Articles Of Association Private Equity Buyout Vehicle
Sample Articles Of Association Private Limited By Guarantee
Short Form Articles Of Association Private Company Limited By Shares
Subsidiary Articles Of Association Private Limited
Written Resolution To Amend Articles Of Association To Remove Director Discretion Where Share Security Is Taken

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