There are many decisions to be made when incorporating. Chief among them is what state to incorporate in. While there are many considerations that go into deciding which state to incorporate in, there is a very interesting debate to be made as to which state is best for corporations. This debate centers around one question:...
Depending on the state in which you organize your partnership, different laws will apply. With that goes the natural conclusion that there will be different results and different implications when running your partnership. All states follow either the Uniform Partnership Act (“UPA”) or Revised Uniform Partnership Act (“RUPA”). Florida, for example, follows the Revised Uniform...
Hiring employees is an investment. While they are needed to ensure all the needs of a company are met, great investments are made in training those employees and entrusting them with certain information–information that could be destructive to a company if it is shared outside of the company. That is why many companies turn to...
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...
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...