Legal

Protect Your Trade Secrets

Every business has secret information, such as customer lists and contracts. Some also have secret formulas, processes and methods used in production of goods vital to successful operation of the business. This information is considered a protected trade secret if it is a commercially valuable secret (guarded from disclosure), and not common knowledge.

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Do You Know How to Act?

Legal challenges an employer faces on hiring an employee begin with the interview process and continue long after an employee has been terminated from employment. From pre-employment inquiries to post-employment references, employers are confronted with a panoply of laws that regulate and restrict their ability to manage personnel. This article addresses what some refer to as the “Big Three,” including the Civil Rights Act, the Family and Medical Leave Act, and the Fair Labor Standards Act.

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Q&A: Employee Commits Biz to Unwanted Obligation

Question: If an employee enters into an agreement that obligates the company financially, and we did not give him permission to do so, do we have to honor it?

Answer: It depends on whether the counterparty to the contract justifiably relied on the employee having the authority to bind the company to the agreement.

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Is Someone Using YOUR Domain Name?

The Internet is a marketplace, one in which virtually every business in the world can participate. It’s BIG business. For that reason, it’s a battleground. Businesses, products and services — and jobs and fortunes — are won and lost based on search engine results and web page views.

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Litigation First Step: Secure E-Evidence

What’s the smartest thing to do when you first sense you could have a legal dispute on your hands? Secure the electronic evidence.

Many court verdicts today pivot on the quality and quantity of electronic evidence: emails, website visits, document downloads and electronic transfers of confidential information. Just as the scent of a fox weakens over time for bloodhounds of the four-legged type, digital trails disappear over time for bloodhounds of the binary type.

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Patents, Copyrights, Trademarks and Trade Names

Patents, copyrights, trademarks and trade names are the basic components of “intellectual property.” Intellectual-property laws provide protection and financial incentive for persons who invent, create, produce and sell goods and services. Without protection, inventors would suffer risk that their inventions and ideas, and the profits that could be generated from them, would be pirated.

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Corporate Governance and Maintaining the Corporate Veil

The purpose for incorporating (C corp., S corp., LLC) a business is to protect investors (stockholders, owners, etc.) from personal liability for corporate (business) debts. To enjoy such protection, the corporation must be maintained in a certain manner.

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Q&A: Does Your Business Indemnify You from Personal Liability?

Question: A business owner I know recently was threatened with legal action by one of his minority stockholders for excessive compensation and for the personal use of an expensive company car. I own 80% of my company; three people own the other 20%. How can I protect myself against such a lawsuit?

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Can Your Contracts Also Help “Sell”?

What rules govern what can and cannot be put into an agreement or contract? To be binding, a contract simply must have an offer, acceptance and consideration. There are no rules on what it cannot contain. So why not add language that reaffirms why clients are hiring you and how they will benefit?

If you are one of these people who treat written agreements as some sort of sacred script that, once written, can be touched only by high priests (i.e., lawyers), stop taking them so darn seriously. Sure, agreements are important and, once signed, they document binding commitments. But feel free to work with them and rewrite them so they serve you better.

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Bankruptcy Law: Created to Benefit Us All

United States law allows every person and/or legal entity, such as a business, to trade, borrow and lend as it sees fit. This right is fundamental to our free-market system. It gives those who sell goods and services the freedom to offer “terms” – at their own risk. It gives lenders the right to lend – at their own risk. And it allows businesses and individuals to borrow and make promises to pay – at their own risk.

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