When it comes to legal counsel, there is no one-size-fits-all package for your legal needs. For some, the best option is to retain legal counsel on an as-needed basis. For some larger corporations, it may be best to hire in-house counsel. And in between, there is no definitive package as to what works best. For...
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One of the most utilized tools in a partnership, company, or corporation is the agent. An agent, often with some expertise in a specific field, can help best utilize a company’s resources by acting on behalf of the corporation. However, an agent can cause just as much liability on behalf of the company, or its...
When directors make decisions in their official capacity, they are given very deferential treatment so long as the decisions are made by someone who is not interested in the subject, is well-informed, and rationally believes the business judgment is in the best interest of the corporation. Courts have spent a great deal of time enunciating...
For most businesses, your intellectual property is your lifeblood. It is your right to be the sole benefactor of your innovations and hard work. Your patents, trademarks, and copyrights are the things that make your company unique, and they are meant to act as a shield against those who would seek to leverage your intellectual...
As a director in a corporation, you owe certain duties to other constituents in the corporation. Chief among these are the duties of loyalty and care. Generally, the duty of care refers to using due diligence in making decisions on behalf of the corporation. Most decisions made, if in good faith, are given very deferential...
When deciding how to put together a proper executive compensation package for directors and officers, there are many options to consider. Executive compensation packages can include a number of options: stocks, salary, or even other perks. Courts often have a difficult time deciding whether or not an executive compensation package is appropriate and will only...
During the course of a partnership, many unforeseen events may transpire. Some of these events may ultimately lead to the dissociation of a partner or dissolution of the partnership. The dissociation of a partner or dissolution of a partnership has huge ramifications. Even more importantly is whether such actions were done rightfully, wrongfully, or neither,...
If you are an owner in a limited liability company, or LLC, you must have an operating agreement. Although the Florida statute governing LLCs does specifically require an LLC to have an operating agreement, for the sake of your company, you must have an operating agreement. Many business owners, when forming their company, are too...