Every business owner faces internal struggles, but family-owned companies encounter some unique challenges, as they must balance business interests with their family relationships. Successful family businesses find that healthy balance by following these specific best practices....
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Barnes & Barnes Defeats Motion to Dismiss Breach of Contract Claim
Nov 25, 2020 | Breach of Contract
Barnes & Barnes recently achieved an important victory in a case involving breach of a severance agreement. The client, a senior executive, is suing his former employer who refused to pay a six-figure severance despite the fact that the client complied with the terms of the...
Did You or Your Business Partner Breach a Fiduciary Duty?
Nov 4, 2020 | Partnerships
The law regards certain relationships in business as ‘special’ because they involve a heightened level of trust or reliance of one party on another. These are known as ‘fiduciary’ relationships and include those between attorneys and clients, business partners, employees and employers,...
Top 5 Mistakes In Lawsuits Involving Non-Competition Agreements
Oct 28, 2020 | Partnerships
A “covenant not to compete,” or “non-competition” agreement is a common feature in many employment and buy-sell agreements. Such provisions restrict a person’s employment or business activities following termination of employment or the sale of a business. They are used to help ensure...
Does Your Family Business Need a Legal Checkup?
Oct 21, 2020 | Insights
There are 5.5 million family businesses in the US and they generate 64% of our Gross Domestic Product (GDP). While many of these businesses find success and continue on for generations, others do not make it to the second generation. In many instances, family businesses struggle because...
Does Your Family Business Have a Succession Plan?
Oct 14, 2020 | Insights
If you are a co-owner of a family business, it is important to consider what will happen to the company if something happens to you. If you do not have a succession plan, then your heirs and/or co-owners could face significant financial and legal problems which could irreparably damage...