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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...
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,...
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...
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...
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...
How Can Business Owners Avoid Personal Liability for Corporate Debts? A significant reason that business owners choose to form a corporation or limited liability company is because they are protected from personal liability. A corporation has a separate legal existence from the...
