By : Gerard Simings
Mention legal regulations to a businessperson and you will probably see their eyes glaze over. One can hardly blame them given the complexities of the subject. That being said, here are a few legal nuggets you should know.
1. NDA Protection – If you are going to provide important business information to a third party, make sure to get an NDA. An NDA is a non-disclosure agreement.
2. Legality of NCA – Many businesses ask their employees to sign non-compete agreements, also known as NCAs. Keep in mind they are illegal in some states!
3. Written Agreement Jurisdiction – When negotiating a contract, make sure to look at the jurisdiction clause. You want it to be in your town or city. Otherwise, you may have to travel across the country to defend yourself in a lawsuit.
4. Business and Friends – When starting a business, there is a tendency to get friends involved. Generally, this is a bad idea. Different views can lead to the end of friendships.
5. Enthusiastic Legal Representation – Your attorney has a duty to enthusiastically represent you, but not make final decisions on your behalf. He or she will make recommendations, but the final decision is yours.
6. Defining Shareholders – The owner of a corporation is called a shareholder. The shareholder’s interest is the number of shares he or she owns compared to the total shares issued.
7. Avoid General Partnerships – Never form a general partnership unless you have to. This business form leaves all partners open to joint and several liability. This means everyone is entirely responsible for the debts of the business.
8. Corporate Tax Designations – Once you have incorporated a business, you must determine the tax status of the business. If you do nothing, it is automatically taxed as a C-corporation. Alternatively, you can file for a S designation.
9. Going Ecommerce? – Most startups don’t think about going online before opening a brick and mortar office or shop. If you can get the hang of web design, it is much cheaper to start online.
10. The First LLC – The first limited liability company came to us from Wyoming. To attract tax revenues, Wyoming passed a law allowing them in the late 70s.
The law is a vast and complex subject. A few tips are not going to get you by. If you find yourself in a complex situation, seek out the advice of a good attorney.
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Wednesday, March 12, 2008
A Sampling of Business Law Tips
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Arizona Lemon Law
By: Stewart Wagh
Arizona Lemon Laws and the federal Lemon Law (the Magnuson-Moss Warranty Act) provide for compensation to Arizona consumers of defective automobiles and trucks and other vehicles and products including motorcycles, RV’s, boats, computers and other consumer products.
If you purchase or lease a vehicle in Arizona and then discover that it has defects that substantially affect its safety, use or value, Arizona Lemon Law may help you gain satisfaction from the vehicle\'s manufacturer. Under the Arizona Lemon Law, new cars, leased cars, pre-owned cars, RV\'s, motor homes, motorcycles, boats and other consumer vehicles qualify for protection if they were accompanied by a written warranty. While the law cannot help everyone with a \"lemon\", and some people may have to hire an attorney to get their cases resolved, the law does create important rights for the consumers.
Circumstances in which the consumers seek protection under Arizona Lemon Law:
A. It is presumed that a reasonable number of attempts have been undertaken to conform a motor vehicle to the applicable express warranties if either:
1. The same nonconformity has been subject to repair four or more times by the manufacturer or its agents or authorized dealers during the shorter of the express warranty term or the period of two years or twenty-four thousand miles following the date of original delivery of the motor vehicle to the consumer, whichever is earlier, but the nonconformity continues to exist.
2. The motor vehicle is out of service by reason of repair for a cumulative total of thirty or more calendar days during the shorter of the express warranty term or the two year period or twenty-four thousand miles, whichever is earlier.
B. The term of an express warranty, the two year period and the thirty day period are extended by any period of time during which repair services are not available to the consumer because of any war, invasion, strike, fire, flood or other natural disaster.
C. The presumption prescribed in this section does not apply against a manufacturer unless the manufacturer has received prior direct written notification from or on behalf of the consumer of the alleged defect and has had an opportunity to cure the alleged defect.
Visit http://www.lemonlawamerica.com for more information on Arizona lemon law and other state lemon laws.
Differing from some laws in other states, the Arizona Lemon Law allows unsatisfied car buyers to sell the defective vehicle, or to trade it in for a different automobile. To preserve the consumer rights outlined in the Arizona Lemon Law , vehicles with warranty defects offered for sale must be accompanied by a written disclosure that declares the owner is aware of the automobiles defects (a written statement from a professional inspector is better), and the vehicle\'s manufacturer needs to be notified of the unsatisfied buyer\'s intention of sale or trade.
Article Source:http://www.articleboy.com
Visit www.lemonlawamerica.com for more information on Arizona lemon law and other state lemon laws.
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New York Family Law Snippets
By David Siegel
The trial court is justified in increasing child support if the needs of the child and the earnings of the supporting parent have increased since the judgment granting child support was entered. Where a former spouse's ability to pay child support is shown, the fact that the children have grown older and the cost of living has risen are proper bases for establishing increased need. The increase in the children's needs must be balanced against the relative ability of the parents to provide for them, and where a change has occurred which creates a substantial imbalance between the child's needs and the parent's support capabilities, modification is required. The increased needs of the child may be established by the child's growing older and the increase in the cost of living established by the expert testimony. New or changed conditions are necessary to warrant a change in support payments, and increased needs of children may be presumed from the fact that children have grown older and the cost of living has risen. An increased in support payments is warranted when the evidence establishes that the needs of the children have increased, and the means of the father have also increased so as to enable him to contribute additional sums to his children's support.
Notice
In General Modification of child support payments can be had only as to those installments accruing subsequent to due notice by the moving party of the motion for modification. Support payments may be modified only as to installments accruing after the party moving for modification has given due notice.
Pleadings
Where petitioner sought modification of divorce decree to compel ex-spouse to support the parties' mentally disabled child after she attained majority; the petition adequately asserted a "change in circumstances" based on the child's continuing handicap after attaining majority; however, it may not have been necessary to plead a "change in circumstances" under this section since there may be a substantive obligation to support a mentally disabled child in 750 ILCS 5/513, unrelated to the terms of any prior divorce decree.
Retroactivity
Child support payments may be modified only as to installments accruing after the party moving for modification has give due notice. A modification for child support 20 years after the divorce could not be applied retroactively. The question of whether modification of child support should be retroactive is within the discretion of the trial court.
New York City divorce and family law firm handling divorce and family law cases throughout New York City and the surrounding areas. Results driven law firm with experience and skill to handle the most difficult cases. http://www.divorce-lawyers-newyork.com
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