We love the word monopoly. It’s super fun to say, for one. And two, they seem to be everywhere. From your cellphone company to your favorite social media platform. But what is a monopoly and why are we so fascinated with the idea? A true monopoly is when a single person or company is the […]
A breach of contract is a failure to meet the expectations in the contract. Pretty simple stuff, right? But, of course, contracts are rarely simple – and they’re far from foolproof. Breaches of contracts span from trade secrets being released and it financially ruining you to something as insignificant as the size of your logo. […]
There are many reasons why someone may want to sue a company, whether that is for a breach of contract, an injury, or another wrongdoing on the business’ behalf. The people that file suit against businesses are often employees, customers, or stakeholders who have been harmed in some way by the company. This harm can […]
Few people would dispute the fact that lawnmowers can inflict severe injuries on their users, but you see them being used each day without incident by homeowners and landscapers. If designed, manufactured and used properly, lawnmowers are safe to use. However, a product that is manufactured or designed improperly can cause injury to its user. […]
Foreclosure is one of the most frightening and stressful experiences you can go through as a homeowner. If you fall behind on your mortgage payments then your lender may have the right to foreclose on your home. However, the process for foreclosure differs substantially depending on which state you live in. While some states have […]
Most states today have statutes that impose liability on bar, restaurants, liquor stores, or other establishments that sell alcohol to intoxicated customers. If a person is injured by an intoxicated person, such as in a motor vehicle accident, then the crash victim may be able to sue the establishment that provided the intoxicated individual with […]
Choosing an attorney to represent your business would be easy if you could open a business lawyer journal and read all there is to know about the attorney you want to select. Unfortunately, the process of choosing the right attorney requires some work on your part. The answers to the following four questions can help […]
There is no legal standard of care higher than fiduciary duty. Fiduciary duty exists in many different contexts and situations, but it essentially refers to times when a special trust or confidence is placed in one party by another. For example, directors of corporations have a fiduciary duty to their shareholders, attorneys to their clients, […]
If you are new to entrepreneurship then one of the first steps you will likely take in establishing your new business is the creation of a business plan. While a business plan itself is not a legal document, it does have a major impact on legal issues related to your business. In fact, in many […]
One of the first things you must do when forming a business is decide on the type of structure you want to use. Many businesses begin as sole proprietorships or partnerships, and as they grow, the owners make the decision to change their business structure. The most common dilemma for an owner is deciding upon […]
Keeping minutes is not just good business practice, it is also required by law. Each state requires corporations to keep minutes of shareholder and board meetings. Although keeping minutes can be tedious and time consuming, it is an important process if you want to ensure your company is on the right side of the law. […]
Featuring Black’s Law Dictionary
Nothing implied or stated on this page should be construed to be legal, tax, or professional advice. The Law Dictionary is not a law firm and this page should not be interpreted as creating an attorney-client or legal adviser relationship. For questions regarding your specific situation, please consult a qualified attorney.
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