In recent years, we’ve seen everyone from company CEOs to intellectual leaders to mid-level employees become embroiled in some type of scandal due to bad behavior. Whether it’s an executive caught up in a sex scandal or someone down the corporate ladder saying or...
One common reason for business litigation is when contracts are breached. Some parties will try other steps before litigating. For instance, it could just be a communication issue, so they may reach out to the other party to find out if there is a problem. Even if...
It is common for people to feel eager about partnership opportunities as they develop a business plan together. In some cases, they let their excitement override their better judgment at the beginning of a partnership. Instead of protecting themselves, they rush...
A buy-sell agreement is a legally binding agreement between business owners that outlines what happens to a co-owner’s interests if they pass away, become incapacitated or exit the company. Think of it as a safety net for a smooth transition. Despite their importance,...
Starting a limited liability company (LLC) can be a great way to pursue your dream of setting up a business. This option offers benefits, but the most notable one is shielding your personal assets from your company’s liabilities. But here is the cold, hard truth: your...
In New York, majority owners of closely held corporations owe a fiduciary duty to minority shareholders. You may face situations where those in control use their power to push you out or strip your investment of its value. This practice, often called a "squeeze-out"...
Starting a business alone can be hard. Many entrepreneurs manage to find success by finding partners to help them build their dream -- and drafting a solid partnership agreement is essential. Partnership agreements allow all parties involved to share the...
People who start business partnerships expect their partners to fulfill their contracts. Typically, those running a business together have a fiduciary duty to the organization. They should always prioritize the company's best interests, even above their own wishes....
Several different types of contracts can include restrictive covenants. Employers often include restrictive covenants in contracts negotiated with new hires and workers accepting promotions. Business partners often include restrictive covenants in their agreements...
Contracts are the backbone of business relationships, offering clarity on roles, responsibilities and expectations between partners. They create a framework that helps to ensure accountability and trust while reducing the risk of misunderstandings. Despite this, no...