Any small business owner in Houston preparing to sell a business wants to be successful in the transaction to ensure a smooth turnover while limiting profit loss. This phase takes preparation, just like the start-up. Recognizing the common mistakes we discuss below will help you avoid unnecessary hardship and loss when selling your small business. […]
When partners reach a business point where their ideas, goals, and focus move in diverging directions, it is necessary to reevaluate the relationship and take a new approach. These changes can happen for various reasons, such as a new baby in the family who requires more time from a partner to both partners not seeing eye to eye on how funds should be spent. A business buyout can be an option you consider as the next step.
Suppose you have come up with a great idea for a new business. It is creative, unique, and entirely new. This business idea might be a manufacturing idea for a new and innovative product or maybe a branding idea or a jingle that you can see going national or even worldwide. Perhaps it is a […]
In the world of entrepreneurship and business ventures, partnerships often play a crucial role in the success and growth of a company. A well-structured contract can bring together complementary skills, resources, and expertise, allowing businesses to achieve more than they could on their own. Without proper documentation and clear guidelines, partnerships can quickly turn sour, […]
If you need to file a lawsuit, you do not have an unlimited amount of time to do so. No matter what type of case you are filing, there is always a limit to when you can sue. A statute of limitations applies to most criminal actions and all civil actions. Once the statute of limitations passes, you can no longer file a lawsuit. Thus, you need to be aware of the timelines in your case or else you can lose the right to a financial recovery or other legal relief, such as an injunction or specific performance of a contract.
Most people do things to protect themselves and their property. Homeowners lock their doors at night and insure their valuables. Unfortunately, very few people protect themselves from fraud, and with the rise of the Internet and digital software, fraud is getting easier to commit.
When your company does business with vendors for goods or services, you need clear and well-drafted contracts to govern these relationships. Otherwise, you may be risking future headaches that could include supply disruptions and lawsuits. There are a number of situations and pitfalls arising out of poorly written vendor contracts you must act to prevent. Sloppy contract drafting or a lack of foresight could doom your company to legal troubles. The best way to avoid problems with vendor contracts is to have an experienced attorney draft and review your contracts. In the meantime, here are some common pitfalls businesses may face with their vendor contracts.
When you go into business with a partner, you may end up getting far more than you initially bargained for. Partnership agreements bind you to someone else. For better or worse, you will reap the benefits and bear the consequences of their actions. What someone else does can affect you both personally and professionally. There are some cases in which you may need to sue a partner for wrongful actions. The special nature of a partnership adds an extra degree of potential complication to these lawsuits.
For small business owners, legal issues can be both distracting and dangerous. They require time and attention from the business owner that is better used growing their company. In addition, legal matters put owners in a difficult position because they are dealing with matters that are unfamiliar to them. If they make a mistake, it […]
A contract is a critical document that governs your relationship with a vendor. If any mistakes or important clauses are missing in the contract, you may end up paying a price for it. Therefore, it is crucial you obtain professional help before you negotiate and agree to any deal. This investment may save you both […]
Many people compare business partnerships to domestic ones, and it’s easy to see why. Just like marriage, a business takes a lot of dedication and hard work; and, breaking up can be hugely expensive. Business divorces can destroy a business and any assets you have spent years building. While business divorces are sometimes necessary and the best course of action, every effort should be made to avoid these costly breakups.
Franchise agreements can lead to beneficial and profitable relationships for the parties on both sides of those agreements. However, there are cases when a franchise relationship can lead to disagreements between the two parties. Disagreements do not have to become contentious lawsuits. They can be avoided in the first place or resolved before they become […]
Partnership disputes can be among the most difficult types of business disagreements to resolve because they impact people’s finances and ability to earn a living. The situation can be even more fraught with landmines when you are a minority shareholder since the majority shareholder has more power than you. However, you do have legal rights […]
According to a 2020 survey from PriceWaterhouseCoopers, 47% of respondents had experienced fraud in the prior 24 months. Business fraud is a growing problem as criminals become smarter and more daring. While no business is ever 100% fraud-proof, you can build your defenses. Here are six steps your business can take to better protect itself […]
Employees are expected to only use company property and assets appropriately and within the scope of their employment. Unfortunately, this is not always the case as many employees have been caught misusing company assets for their own personal benefit. While many smaller infractions like using company stamps to send personal mail or taking home a […]
When a business owner enters into a formal or informal agreement that will benefit their company, they do not usually expect an outside party to interfere with that relationship. Business owners depend on relationships and contracts with insurers, lenders, vendors, distributors, and contractors to successfully run their businesses. If a third party interferes with a […]
Business litigation encompasses defending or resolving legal disputes between companies and other parties. In many instances, it is used to describe defending companies accused of misconduct or being sued for a variety of reasons. A business litigation lawyer is a legal professional who is able to manage both minor and significant legal concerns, including lawsuits, […]
Purchasing a franchise has become one of the more popular business models in the United States – as well as globally – in recent years. According to research from Statista, in 2019 alone, the economic output of franchise establishments within the U.S. totaled roughly 787.5 billion dollars. With this in mind, it’s no wonder franchising […]
With so many businesses now having an online presence through a website and/or social media, many have turned to digital sources to gain access to images labeled as ‘free’ to catch the attention of prospective clients and customers. As more companies utilize these sources, it’s important to be aware of potential intellectual property violations and […]
The COVID-19 pandemic has greatly affected businesses in more ways than one. While many have been able to obtain funding or loans through the Paycheck Protection Program or an Economic Injury Disaster Loan (EIDL), others have found coronavirus loan fraud issues. This is true for Wells Fargo, which recently fired over 100 employees for defrauding […]
Businesses of all sizes in many different industries have faced a countless amount of struggles in 2020 alone. Despite this, it’s imperative that business owners remain aware of potential conflicts that could arise and hurt or derail operations even further. Having a good understanding of the several different types of business torts that could arise […]
The COVID-19 pandemic has brought forth many challenges for business owners to tackle. Dealing with the shutdown of operations earlier this year and establishing the safest ways to return to work have already put a lot of pressure on businesses to maintain safe protocols and turn a profit. Because of this, it’s important for business […]
Running a successful business comes with its own unique set of challenges – and business partnerships are essential for success. The Coronavirus pandemic has no doubt thrown curveballs at business owners across the country, but what happens to a business when one business partner falls ill to COVID-19 – or worse, becomes incapacitated or succumbs […]
The ongoing COVID-19 pandemic has taken a major toll on businesses throughout the nation. While some have been able to transition to working entirely or partially remotely, others have had to make difficult decisions to keep their doors open without having to dissolve a business. The dissolution of a business is a decision that should […]
Businesses measure value in a myriad of different ways. Client retention, return on investment (ROI), and sales can all be deemed valuable to business owners. Different facets of intellectual property provide incredible value to companies in many different ways. Understanding just how valuable intellectual property is and what it means in the age of COVID-19 […]
The new coronavirus or COVID-19 has impacted businesses large and small, as well as the personal and financial lives of millions. Now, with so many aspects of our daily lives up in the air, insurance underwriters predict an oncoming wave of changes to director and officer (D&O) liability coverage will follow. Understanding Directors and Officers […]
Fiduciary obligations are crucial aspects of certain business relationships. These duties involve a relationship between two parties that obligates one to act in the best interest of the other. When the fiduciary breaks or breaches this obligation to the beneficiary, it can hurt their reputation and have potential legal repercussions. Such is the case for […]
Since the new coronavirus or COVID-19 outbreak, many people across the country and around the world have had to adapt to working remotely from their homes. While this allows employees to continue their ongoing projects and tasks from the safety of their own living spaces, fraud and cybersecurity concerns have mounted as fraudsters find themselves […]
With different projects, teams, management styles, and other factors at play, disputes in the workplace are bound to happen—even when working from home. Alternative dispute resolution or ADR can help to resolve these conflicts, potentially without the need for court appearances. There are many different ways both small businesses and large corporations can benefit from […]
Day in and day out, businesses across the nation rely on contracts for many different things, including partnerships and employment. Unfortunately, however, many companies have been grappling with how to handle these contracts due to the novel coronavirus or COVID-19, which has effectively disrupted business operations around the world. In particular, many businesses are wondering […]
Over the years, local restaurants have remained staples of communities across the country. Houston, for instance, is known for its wide variety of local fare, with a whopping 10,000 restaurants that represent nearly 70 countries and American regions. While restaurants across the nation have long been a source of comfort for patrons, the novel coronavirus […]
Intellectual property laws aim to help businesses and creators protect their work from being misappropriated. Trademarks, copyrights, and patents can all be used in different ways to accomplish this. With trademarks, however, in certain cases it can be difficult to achieve this sort of protection when trying to protect a widely used phrase or word. […]
When dealing with commercial real estate, the use of liens can be fairly common. Liens can impact the ability of a business to start from the ground up or continue to grow and expand. Understanding how different types of liens can affect businesses is incredibly important when leasing or purchasing a commercial property. What is […]
Meat alternatives have become increasingly popular among consumers in the last several years. One of the most popular brands is Beyond Meat, which sells plant-based foods and meat alternatives. It sells its products to various customers in the retail and foodservice channels through brokers and distributors in the U.S. and internationally. The brand works with […]
Antitrust laws help regulate the conduct of businesses in order to promote fair market competition for the benefit of consumers. Recently, the U.S. Federal Trade Commission (FTC) announced it was considering a rule limiting businesses from pushing their employees to sign non-compete agreements preventing them from working at rival companies. Upon hiring, workers are sometimes […]
Home sharing company Airbnb is a resource many use for lodging while traveling in place of hotel or bed and breakfast accommodations. While the service has been quite popular, Airbnb recently sued a company in which it invested for breach of contract. Airbnb entrusted a Miami real estate developer to open the company’s first branded […]
When a merger of two companies happens, assets are often consolidated in order to combine the two entities. While mergers and acquisitions occur quite frequently, they have the potential to create serious antitrust issues. Recently, TD Ameritrade and Charles Schwab announced plans to merge the two entities, raising antitrust concerns among many. Investment company Charles […]
Contracts are very commonplace in business transactions and partnerships. These binding agreements help to ensure the parties’ agreed terms are carried out in full on all sides of the agreement. When a party breaches a contract, it can be damaging to those involved. Recently, Apple sued a former chip designer after he allegedly breached his duty of loyalty and contract with the company.
The merging of two companies is a fairly common business practice. Mergers and acquisitions can consolidate company funds or assets, help stimulate growth, bring about a competitive advantage, or increase market share. Though a corporate merger is usually beneficial for both parties involved, it’s important to be aware of the amount of time the process can potentially take. In fact, the recent merger between CBS and Viacom has been brewing for nearly 20 years.
Mergers and acquisitions are common business occurrences involving the consolidation of companies or assets through various types of financial transactions. Mergers, acquisitions, consolidations, tender offers, and more can all dramatically change the face of a well-known business. In fact, Google recently acquired Fitbit in its largest acquisition to date for about $2.1 billion. This comes as the search engine giant aims to grow its presence in the smartwatch and fitness technology industries.
For many Houstonians, Hurricane Harvey proved to be a storm like no other. Over 27 trillion gallons of rain washed over our city, resulting in 50 inches of rainfall. The rainfall was so heavy, in fact, the National Weather Service had to update the colors used to showcase the severity of the rainfall on its weather charts to properly account for it. As to be expected after a storm like Harvey, many insurance claims for property damage were subsequently filed with insurance companies. Unfortunately, however, many Texans believe both insurance proceeds and local and federal funds designated to help pay these claims were mishandled, some even suggesting an investigation should take place.
For many, the idea of their hometown or city having a localized theme park to go to with family and friends seems simple enough. However, this has been a topic of contention for many Houstonians, since the beloved AstroWorld closed its gates for good in 2005 and was eventually demolished to make room for additional […]
Bonds can often play a major role when it comes to raising money. Government entities and corporations often issue bonds when they want to raise a certain amount of funding. When purchasing a bond, the issuer of the bond will receive a loan and agree to pay back the face value of that loan by […]
As many know, mergers and acquisitions (M&A) are common practices between corporations. The concept of mergers and acquisitions describes the consolidation of businesses and/or their assets through various types of financial transactions. If and when these transactions go awry, it can put the process into question. Recently, AT&T and its CEO had their acquisition tactics […]
While some view competition among businesses as a negative, competition among corporations is good for both consumers and businesses, often helping with different aspects of the economy. This can sometimes be a difficult line to tread for those involved in acquiring other businesses, as the size of the merger could have an overall impact on […]
Elon Musk is known for many things, including founding Paypal and serving as the CEO of Tesla Motors. In addition to making cars, building spaceships, and investing in a wide variety of technology start ups, Musk is also known for his prolific tweeting. Unfortunately, not everyone likes Musk’s use of the social media platform Twitter, and his tweets have not only created controversy, but they have also led to legal troubles with the U.S. Securities and Exchange Commission (SEC). Now, the SEC wants clearer guidelines how social media usage can violate federal law.
Almost every business needs a website. For some businesses, website functionality is crucial to generating revenue; and, most types of marketing (websites included) are expensive endeavors. But what if you paid $32 million for a website that didn’t meet your expectations? That’s exactly what happened to car rental giant Hertz, which is suing its former marketing company, Accenture LLP, for breach of contract.
Picture this: you have a really important print job, but as you stand in front of your office printer it starts making strange noises. Before you know it, the printer is jammed and your print job isn’t happening anytime soon. This is a common scenario for anyone that works in an office, which can become incredibly frustrating, particularly if the printer is brand new and fails to operate properly at all. This was the case for a local Houston law firm who became so fed up with printer problems that they filed a lawsuit against HP, Inc. alleging breach of contract, fraud, negligent misrepresentation, and breach of express warranty. While it’s unclear how this office drama will play out, it does serve as an important reminder to business owners about warranties.
When Felix Stehling opened the first Taco Cabana restaurants in 1979, he likely didn’t anticipate how quickly the restaurant would grow. While Stehling had a number of successful restaurants and businesses before Taco Cabana, the little taco shack would be the one that cemented him in the culinary history books. Sadly, the current status of the Taco Cabana empire is nowhere near what it used to be, and Stehling’s stepson alleges that’s due to a breach of fiduciary duty.
Houston is an unusual city for many reasons, but one of the most visibly apparent reasons is that there are no zoning requirements. This means that grocery stores can go up next to houses, but it also places a higher burden on homeowners and condo owners associations. Because there are no zoning requirements, these organizations are often the only thing standing in between a new development and residents. This is the case for the condominium owners association at the Cosmopolitan apartment complex, which is fighting the development of a 39-story building.
The cost of litigation is a huge challenge for businesses of all sizes. Large companies can threaten litigation in an effort to force opposing parties to drop claims against them. This is not only an extremely unfair practice, but it is against Texas law. Retailer Neiman Marcus has been accused by creditors of filing frivolous lawsuits in an attempt to stifle legitimate claims made by creditors.
