Business & Corporate
I Don't Think We are Going to Remain Friends - What Happens When Owners of Closely Held Companies are Deadlocked or in Dispute with Each Other or Former Employees
You and a friend, family member, or even a spouse, decided to go into business together. At first, things were great because of the possibilities and the excitement that new challenges bring. You may have formed a corporation, a limited liability company, a partnership or even operated as a sole proprietorship. If there are only two of you, you might have owned the company equally, which … Read More
Are There Fiduciary Duties Between Members in an Arizona LLC?
In 1992, the Arizona legislature enacted the Arizona Limited Liability Company Act. Since that time the LLC has become the entity of choice for many individuals, businesses, partners and investors. While there obviously are differences between corporations and LLCs, attorneys in Arizona have always believed that there were many similarities.
For instance, when you form a corporation Articles of … Read More
Not All Customer Lists Are Trade Secrets
In a case decided this past April, the Arizona Court of Appeals found that whether a business's customer list is a trade secret requires a factual inquiry. Calisi v. Unified Financial Services, LLC, Case No. 1 CA-CV-0812. The court's holding requires a two part inquiry to determine whether a customer list is, in fact, a trade secret.
First, a trial court must determine whether the customer list has been kept … Read More
Answers to Top Business Issues
As a business owner, you are under pressure to either maintain your existing base or expand your business. Increased sales, good employee relations, firm financial footing are all important components to your business' continued success and may take the majority of your time. Critical tasks, such as handling important legal matters may fall by the wayside. Building a strong legal foundation now will potentially … Read More