- The fiduciary duties of loyalty and care may be different when a partnership is involved, rather than a corporation.
- The duties that shareholders in a corporation owe to each other are different than those owed in a partnership. Shareholders have
Jay R. McDaniel Blogs
Latest from Jay R. McDaniel
Unlocking Your Business’s Potential: The 7 Key Reasons for Valuing a Business
Understanding the value of your business is critical to the management and operation of a business, to protecting the value of the business, and to planning for the future. Many owners see valuation as an issue that you need to
Closely Held Businesses Can Use Agreements to Protect Value
- Agreements that limit former employees from soliciting customers or disclosing confidential information are critical to protecting the value of a closely held business.
- Restrictive covenants and non-compete agreements are difficult to enforce and must be carefully drafted to assure that
Intangible Capital Holds the Key to Value in Closely Held Businesses
- Intangible Capital are the elements that define a company’s real earnings capacity and its value.
- The Exit Planning Institute recognizes four intangile capitals in a business: human capital, structural capital, customer capital and social capital.
- Intangible capital is closely tied
Court Relies on Implied Contract Theory To Hold Partner to Agreement
It’s a decision involving a law firm partnership that, if widely followed, will likely have a sweeping effect on the interpretation of the statutory requirement for unanimity in adopting critical agreements that govern partnerships and liited liability companies.
Attorney Andrew
Human Divorce, Meet Business Divorce
- Divorcing couples that own a business together must address business ownership issues as part of the matrimonial issues, in particular the distribution of assets.
- An important issue when a couple divorces is how to address the family owned business in
BusinessBridge: Outside General Counsel for the Closely Held Business
Small and medium enterprises (SMEs) have unique issues and exposure, often with little room for error. The owners of these closely held businesses need advice and support for the unique challenges and opportunities they face.
BusinessBridge, outside general counsel, is
Arbitration Fails to Resolve Business Divorce Dispute
- The failure of the parties to submit evidence on an issue during arbitration caused a failure to decide all of the issues of the dispute.
- A Court may modify an arbitration award rather than vacate and permit partial enforcement while
When Courts Issue Injunctions in Trade Secret Cases
- A court may immecdiately the plaintiff a restraining order of preliminary injunction when there is a valid trade secret claim and the plaintiff may suffer irreparable harm without it.
- Courts make the determination whether an injunction is necessary based on
Equitable Accounting Opens the Black Box of Business Finances
- An equitable accounting is a cause of action that requires those in control of the finances of a closely held business to account for their use of the money.
- An accounting a two-stage process. First the controlling party must render