Category Archives: Business Transactions
Avoiding Personal Liability for Corporate Wrongs
Many hear that one of the biggest benefits to forming a company is the avoidance of personal liability. The company is its own legal entity, able to sue and be sued, and when the company makes a legal error and owes money to another, it’s the company that’s liable, and not the owners or… Read More »
Should Your Business Know About the FCPA
In the movies, it’s common to see businesses greasing the palms of government officials in secret deals in order to gain favor. Certainly, your business would never do that, and likely wouldn’t be in the position to do that, as it’s unlikely any government official would offer favors in return for cash or other… Read More »
Businesses Should Give Thought to Succession Planning
Many people take time and effort to plan for what will happen to their family and their assets when they are gone. But you would be surprised to learn how many people fail to make arrangements for a certain class of people who also should be accounted for when making these kinds of plans:… Read More »
Could Coercion or Duress Affect Your Business Agreements?
The ability of our businesses to thrive—or just survive—often depends on the agreements and contracts they enter into. If those who agree to do something or pay something to our business are able to back away from their agreements, there would be no way for our business to properly function and budget. Obviously, there… Read More »
Having a Cyber Attack Plan Can Avoid Legal Problems
If your business is like most nowadays, you rely upon, if not completely depend on, your technology. Whether it’s local servers, or information in the Cloud, problems with hardware and software can completely stop a business in its tracks. But even worse than technological problems are technological problems that are a result of malicious… Read More »
New Case Limits Changes to Terms of Service
Many businesses find it helpful to have written and agreed-to terms of service for their clients or customers. These terms may be on paper or posted online, and may include regulations for usage of information, facilities or property. A recent case has limited the flexibility a business has when amending terms of service, and… Read More »
The Power of the Corporate Resolution
Sometimes in smaller businesses or partnerships, formalities get overlooked. That may not create huge difficulties—certainly there is an advantage to the efficiency of a smaller company as opposed to the apparent bureaucracy and paperwork of larger companies. But there are often some formalities that even the smallest of companies should try to observe when… Read More »
Be Careful How You Collect Your Business’ Debts
Collecting from clients or customers who owe you money can be one of the most unsavory parts of running a business. Aside from the natural discomfort of asking people for money owed, as accounts receivable but unpaid accrue, cash flow slows down, and the ability to properly run your business may diminish, making collections… Read More »
Is an Arbitration Clause Right for You?
The United States Supreme Court has recently ruled on an arbitration clause involving a consumer’s dispute with DirecTV. The case brings to light the question of whether including arbitration clauses in your business agreements may be right for you. What is Arbitration? Arbitration is a contractual clause that forces anyone who sues you to… Read More »
Be Careful of Misappropriation of Your Ideas or Property
Many of us don’t think we will have any issues with intellectual property (IP)—generally, copyright, trademark, or patent disputes. But what we often forget is that something as simple as an idea or concept often has some IP value. We tend to throw ideas, or information around all the time, without concern over who… Read More »