Business partnerships are structured relationships where two or more people combine their resources and knowledge to start or take over a business. In theory, partnerships allow everyone involved to benefit from their partners' capabilities and experience. Some...
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Year: 2024
Why businesses cannot afford to leave trade secrets unprotected
A variety of different non-public information can be a trade secret. Provided that information has economic value because it is secret and others cannot legitimately obtain that information, an organization likely has a vested interest in protecting that trade secret....
Quantifying damages in a breach of contract scenario
When organizations negotiate contracts with suppliers, vendors, service providers or independent contractors, they typically rely on those outside parties to follow through on their promises. Unfortunately, violations of agreements and overt contract breaches are...
Can companies still enforce noncompete agreements?
Employment-related litigation often begins with an employee’s concerns or misconduct. Many lawsuits are filed by workers and target businesses based on allegations of misconduct. Workers sue over unpaid wages or harassment in the workplace and expect their employers...
How AI may compromise the quality of professional services
Artificial intelligence (AI) promises to reduce the need to perform time-consuming labor. AI can help people generate images in a matter of seconds or review text for clarity with a few clicks. Current AI software can achieve a variety of different goals for users...
What constitutes professional negligence?
People turn to educated and licensed professionals in a variety of different situations. The average person doesn't understand tax law and may not enjoy doing complex mathematical calculations. They hire an accountant to file their income tax returns and manage their...
What recourse do subcontractors have when a company doesn’t pay?
Working as a subcontractor can be a way to become one's own boss. Professionals who have skills, like the ability to smoothly mud drywall or install tile, can negotiate contracts with construction companies for individual projects. Subcontractors can pick and choose...
The pros and cons of specific performance after a contract breach
Most business owners and executives rely on other professionals, service providers and vendors to operate their company. Typically, they execute contracts with those outside parties as a means of ensuring a consistent stream of materials or the professional assistance...
Social media creates opportunities for nondisclosure breaches
For many businesses, social media is a beneficial resource. Social media advertising allows for very controlled and deliberate use of marketing funds. Social media can also drive brand awareness, as it only takes one viral post or video to make consumers aware of a...
How can you protect your trade secrets?
When you know how to do something better than anybody else, you want to make sure that you keep your edge over the competition – and your trade secrets can become some of the most valuable intellectual property you own. So, how can you protect what you have?...