You’ve just been sued for breach of contract and lost. As a result, you have to pay compensation to the plaintiff – the one who sued you – for that party’s losses due to your breach. You don’t like the sentence. It seems way out of proportion.
A power of attorney (POA) can be a powerful tool to ensure your affairs and financials are handled in the proper way when you’re unable to do so. A power of attorney can also find themselves in a sticky situation if the person given the POA decides to put themself first, and there’s no one to witness.
Misappropriation of funds and embezzlement are often used interchangeably in California. In either case, someone has been entrusted with someone else’s money or property and then diverts it to a purpose other than what the actual owner intende
In a merger and acquisition (M&A) transaction, it’s not unusual for the shareholders of the target company – the one being acquired or merged with by the other entity in the transaction – to feel that the value offered is insufficient. In other words, the price for their company and the shares they hold are being undervalued.
A corporation is a legal entity in and of itself, and is owned by its shareholders, those who purchase or acquire shares in the operation. The shareholders elect a Board of Directors to be in charge of everything and in turn to hire officers and managers to conduct the day-to-day business operations.
Since the enactment of the federal Defend Trade Secrets Act (DTSA) in 2016, there has been an increase in trade secret cases in federal court—including in California, where the legal actions are also backed by the California Uniform Trade Secrets Act (CUTSA).
When it comes to understanding trade secrets and what they are, the clearest reference point is the fact that Coca-Cola keeps its soft drink recipe locked in a vault in its headquarters in Atlanta, Georgia. Supposedly, no more than two people at any given time have access to the formula.
Establishing a basic business partnership in California is not much of a formal process except when it comes to taxes. You can shake hands with another person, or group of persons, and agree to start selling widgets or something else, or provide services of some sort.
Indemnity clauses can exist in many types of agreements or contracts. If you rent a car, the rental agency will put an indemnity clause in your rental agreement, holding you liable for any damages you cause to the vehicle. Indemnity clauses are common in partnership agreements so that the actions of one partner are shielded from the liability of the others.
Suppose you have decided to open a business, and you examine the various business structures available in California. You can open a sole proprietorship, but you hesitate because you know that all debts and liabilities will then belong to you and you alone.