Articles
Part One: Understanding the Indemnity Clause
Most business people assume that the Indemnity clause is a legal issue to be resolved only by their lawyer. Black’s Law Dictionary (the Webster’s dictionary for lawyers) defines Indemnify – in part- as follows: “To make good; to compensate; to make reimbursement to one of a loss already incurred by him.” Read that...
Read MoreTips for Working with your Business Attorney
If your business is working with an attorney on an important transaction, there are a few important tips that can help ensure you obtain a successful outcome. Consider the following suggestions: Choose the “Right” Attorney Your business lawyer will play a very significant role in the success of your company....
Read MoreCONTRACTUAL LIMITATIONS OF LIABILITIES
When your company is entering into a contractual relationship with another party, it is important to set forth what will happen if there is a breach of the agreement. A “breach” is the failure of a party to perform its duties or obligations under the contract. When a breach occurs,...
Read MoreFOUR AGREEMENTS YOUR BUSINESS SHOULD HAVE
Every business is unique and has its own legal needs. However, in my experience, four important contracts which are needed to safeguard an entity’s interests include: Non-Disclosure Agreement A non-disclosure agreement (also called a “confidentiality agreement”) is important to every company in every industry. This type of contract obligates third-parties...
Read MoreThe Value of Non-Disclosure Agreements/Why you should Protect your Trade Secrets
Many times the most valuable asset a business has is its “idea.” That idea is the basis upon which your product/ service is successful. Whether that is an innovative product or a specialized service, it can be worth a substantial amount of money, especially if it meets needs that are...
Read MoreWhich Legal Structure is Best for Your Start-Up?
When you are starting a new business, it is normal to be eager to get the doors open and see your ideas put into action. However, don’t skip over one of the most crucial steps in ensuring the success of your entity, which is choosing the most advantageous legal structure...
Read MoreCYBERSECURITY & THE NEED FOR VENDOR AGREEMENTS
If you own or manage a business, you should be concerned regarding your entity’s cybersecurity. With all the recent news regarding hackers obtaining confidential information, you can bet that your customers and clients are worried about how you are protecting their private information. Protecting digital data became a “hot topic” when...
Read MoreTHE CONTENTIOUS WARRANTY CLAUSE
Ask any experienced contracting professional to name one of the most contentious clauses in a negotiation and the answer usually includes the warranty provision. (The other contentious clauses are Limitation of Liabilities and Indemnity, followed closely by who owns the IP). Many business people assume these clauses are strictly “legal” issues. If...
Read MorePART TWO: INDEMNITY
BRIEF REVIEW Indemnify is defined in Black’s Law Dictionary as follows: “To make good; to compensate; to make reimbursement to one of a loss….” In an indemnity clause, one party (the “indemnitor”) agrees to defend, pay all costs of the lawsuit and pay any judgment resulting from the lawsuit if the other...
Read MoreDoes Your Employee Handbook Properly Cover Overtime Pay?
Employers are required to pay workers a minimum wage set by law for all hours worked. If an employee is non-exempt, they must be paid suitable overtime pay right for any additional time worked. Overtime pay may seem like a simple topic, but it can get more complex when applying...
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