Business & Corporate
Planning for the Future of Your Business
In an economic downturn, individuals and business owners may question whether or not it is a good investment to spend time and resources on an estate or business succession plan. Actually, it is an excellent time. First, business may have slowed down enough for the owners to focus on the next generation ownership and secondly, your estate may be able to take advantage of lower valuations to transfer assets. … Read More
Creating an LLC? Maybe Not as Easy as it Looks
If you are considering forming a new company, many people decide that a limited liability company (LLC) will be the best type of company structure for them. However, selecting to form a LLC may be the easy part! There are many considerations when setting up your LLC. We've listed just a few below.
Should your LLC be member managed or manager managed?
If there is more than one member,
Which … Read More
Categories: 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