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Recent Blog Posts
Seven Red Flags to Watch Out for When Drafting and Negotiating Contracts
Businesses will create contracts in a number of different situations, and it is important to make sure the terms of these agreements will provide them with the protection they need. Addressing potential issues when initially drafting a contract or negotiating terms with the other party can save a great deal of difficulty in the long run. With the help of a business law attorney, a company can ensure that it will be able to identify and resolve any concerns while avoiding problems that could lead to financial losses in the future. Some issues to watch out for during the contract drafting and negotiation process include:
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Ownership of work performed - Contracts should specify who owns the work product created pursuant to the agreement. If this is not addressed, the company that paid for work may find that it does not have the rights to use or sell the work performed, or a person who performed work may lose the ability to claim ownership of what they created.
How Is the Mediation Process Handled in Commercial Disputes?
There are many types of disputes that may affect a business, and determining the best ways to resolve these conflicts can sometimes be difficult. The approach to addressing business disputes may differ depending on whether a dispute is internal and affects a business's partners, shareholders, or employees, or whether it is external and involves the relationship between a business and other parties.
While resolving a dispute effectively is likely to be the primary goal in these situations, it may also be necessary to maintain important business relationships and avoid ongoing issues. In many cases, businesses will be looking to find solutions that will allow disputes to be resolved without the need for litigation. Mediation, a popular form of alternative dispute resolution, can be one of the best ways of doing so.
Steps Followed During Business Mediation
What Are the Possible Remedies for a Breach of Fiduciary Duty?
There are many situations in which business disputes can arise, and in some cases, these issues need to be resolved through litigation. Disputes involving business partners or shareholders can be especially challenging, especially when they are related to disagreements about the direction or management of a company. Business disputes can also involve claims that a party has acted inappropriately or illegally and caused harm to other partners, shareholders, or to the business itself. These cases often involve claims that a person has committed a breach of fiduciary duty. When these issues are handled through the legal system, the parties involved in a dispute need to understand the potential remedies that may be ordered.
Legal and Equitable Remedies for Breaches of Fiduciary Duty
Can Employment Contracts Include Non-Disparagement Agreements?
Employment contracts will contain a number of terms that affect both the employer and the employee. In many cases, an employer will want to include terms that protect their interests and prevent employees or former employees from taking actions that could harm the company. These may include non-compete agreements that prevent a person from engaging in unfair competitive activities and non-disclosure agreements that prevent employees from releasing confidential information. In some cases, an employer may also ask employees to sign non-disparagement agreements meant to protect a company’s reputation. By understanding the purpose of these agreements and the restrictions they can put in place, employers and employees can ensure that they are properly protected.
What Is a Non-Disparagement Agreement?
New Reporting Policies May Affect Medical Debt and Credit Scores
Medical debt is a significant issue for many Americans. Large medical bills can be very burdensome, especially for those who are struggling with health issues that may affect their ability to earn an income. In fact, medical debts are one of the most common reasons that people file for bankruptcy. To make matters worse, these debts can continue to affect a person for years, even after debts are paid off or eliminated. A debt that is in collections will often show up on a person’s credit report, lowering their credit score and affecting their ability to receive credit or loans in the future. Fortunately, the credit reporting agencies have announced new policies that may benefit those who have medical debts.
Changes to Medical Debt on Credit Reports
The three credit bureaus that maintain records of people’s debts--Experian, Equifax, and TransUnion--have announced that they are changing some policies related to medical debt. As of July 1, 2022, medical debts that have been paid off will no longer be included on a person’s credit report. This will affect any new debts that are paid off, as well as past medical debts, even those that had been in collections. Because many medical companies are willing to negotiate with consumers to reduce the amount owed, those who have debts may be able to pay them off, ensuring that these debts will not affect their credit score in the future.
Are Non-Solicitation Agreements Enforceable in the 21st Century?
There are multiple types of contractual agreements that businesses may use to protect themselves. In addition to non-compete and non-disclosure agreements that may restrict when and where a former employee can work after leaving a company and prevent them from sharing inside information, non-solicitation agreements may also be used. This type of agreement may prevent a person from contacting employees who work for their former employer and attempting to hire them, or it may restrict a salesperson’s ability to contact former customers and offer goods or services in competition with their former employer.
These types of agreements may seem difficult to enforce in our modern, always-connected world. People have many ways of communicating with each other, including on social media, through email, and a variety of other channels. Determining whether a person’s actions violated a non-solicitation agreement can sometimes be difficult. Both employers and employees may be unsure about whether these agreements are enforceable in different situations.
How Have Recent Changes to Bankruptcy Laws Affected Debt Limits?
There are many situations where people may struggle with debt, and this often occurs due to circumstances that are out of a person’s control. Those who are experiencing harassment from creditors and struggling to cover their ongoing expenses in addition to paying what they owe will need to consider their options, and in many cases, bankruptcy can provide an ideal solution. By completing this process, a person, family, or small business owner can eliminate certain types of debts and regain financial stability. However, debtors who are considering bankruptcy may need to be aware of some recent changes to the laws that may affect their eligibility for debt relief based on the amount they owe.
New Debt Limits for Chapter 13 Bankruptcy
Chapter 13 bankruptcy, also known as “wage earner’s bankruptcy,” is an option that may be pursued by debtors who own a home and wish to avoid foreclosure or who do not want to liquidate certain assets during the bankruptcy process. This type of bankruptcy will allow unsecured debts such as credit card balances, medical bills, and missed mortgage payments into a single repayment plan. Depending on certain factors, this repayment plan will last either three or five years, and after a person has made all monthly payments in the plan, any remaining unsecured debts will be discharged.
How Does Florida’s Civil Theft Statute Affect Business Litigation?
There are multiple different types of situations where business litigation may be necessary to address losses or other damages that have affected a company. These cases may involve contract disputes, violations of non-compete agreements, or other situations where a business seeks to recover compensation for losses. However, some business disputes may involve fraud or other criminal actions, and if a plaintiff can demonstrate that another party violated the law, they may be able to recover additional compensation through Florida’s Civil Theft Statute.
What Are the Benefits of Arbitration in Business Partner Disputes?
There are multiple types of situations where disputes may arise between business partners. In some cases, partners may not agree about a business’s goals or the roles and responsibilities of the partners or other business personnel. In others, one partner may believe that another partner has failed to uphold their fiduciary duty to protect the interests of the business. Partnership disputes can have a significant impact on multiple parties, including the partners themselves, other shareholders or investors, and others involved in the business. In many cases, partners will be looking to resolve disputes in a way that will minimize the negative effects on the business while still protecting their financial interests. In many cases, arbitration is an effective way to do so.
When Can a Bankruptcy Case Be Dismissed?
People or families who are struggling with debt may find that bankruptcy is their best option. Filing for bankruptcy will force creditors to stop any attempts to collect debts that are owed, and it may also put a halt to foreclosure proceedings, wage garnishment, and repossessions of vehicles or other property. When a debtor completes the bankruptcy process, some or all of their debts may be discharged, meaning that they will no longer have the obligation to repay the amount owed to creditors. However, it is important to follow the correct procedures during the bankruptcy process, since failure to do so may result in the dismissal of a case, which will allow creditors to resume their collection efforts.
