A joint venture is essentially a partnership, but only for a specific, and usually limited, purpose. Both partnership agreements and joint venture agreements usually allocate responsibility and compensation between or among the parties. Comprehensive joint venture agreements also address issues such as determining fault for performance that is deficient and establishing obligations for rectifying harm […]
Business Coverage / Professional Liability Articles
It seems that during each cycle of the state legislative sessions, efforts are made either to expand or reduce the business and professional liability exposures faced by construction-related professional service firms. In some instances, under the overall rubric of “tort reform,” efforts are made to redefine exposure and channel liability.
The AIA Trust released a new white paper on the crucial legal & professional considerations for architects regarding fiduciary duty. While there is no surprise about lawsuits founded upon professional malpractice, or the breach of a professional services agreement against design professionals, concerns may arise when a design professional is also sued for the breach […]
Many Americans are financially prepared with life insurance, but do not have a plan in place in the event of disability. Disability can affect you financially whether married or single, a firm owner or an associate, a parent or not. While life insurance is very important, you should also be prepared for the possibility of […]
Small firms and sole practitioners don’t have the luxury of in-house counsel or retained attorneys, yet small architecture firms confront many legal challenges such as negotiating and interpreting contracts and handling disputes with clients and contractors. LegaLine is the AIA Trust Legal Information Service, a specialized benefit for AIA members, ideal for small firms without […]
Disputes happen. Dissatisfied clients, construction firms with cost-recovery programs, injured third parties and other claimants often try to tap into the assets of professional service firms—and their insurers—to solve a real or perceived problem.
There are two kinds of clients who insist in a contract that a design professional absolutely comply with laws, regulations, codes, ordinances, standards and a plethora of other business and design constraints. First there is the client who, perhaps with strained incredulity, asks “Do you mean to tell me that you do not intend to […]
It is not uncommon for clients to request ownership of your plans and specifications. Corporate clients often assume they will somehow be of future value. Educational clients think they can create a database of project information that will help them reduce future costs. Agencies of government reason that the public, having paid for your services, […]
The AIA Trust released a new white paper on a topic of vital interest to AIA Members—the evolving standard of care. The standard of care is the prevailing benchmark of professional practice in architecture and design and the threshold of protection under professional liability insurance. The design professional’s standard of care is generally based on […]
In suits alleging negligence in the performance of professional services, well-drafted documents and well-kept, comprehensive records are the strongest defensive weapons available to professionals. The following practices and procedures can be vital to a firm’s continued profitability in the face of costly litigation.