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Law in construction management

Taking into account all of the different legal methods for contracting, documenting damages and pursuing payment on contracts in USA, please explain what would be the best practices for any contractor or professional who works in the industry.
Please discuss legal techniques as well as business concepts/techniques which you would want to adopt in any construction related business. Explain the best technique you believe should be used by any construction business in order to prevent losses due to business reasons.

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