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).
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.
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.
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.
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.
Starting up and then operating a business can be costly, time-consuming, and challenging. The temptation is there to do things as quickly and inexpensively as possible, but be wary of using online DIY templates.
Business owners and operators will typically purchase what is known as Commercial General Liability (CGL) insurance to protect themselves from a variety of hazards and incidents that would otherwise expose them to out-of-pocket awards and judgments.
Operating a business is not always a walk in the park. All kinds of challenges, setbacks, and disputes can arise. Competition can be fierce, and tactics deployed by competitors can border on the illegal. You can fight back, or even negotiate with others who are attempting to bring you down, but the question always looms: When is the right time to sue?
If your business is being sued or you’re suing another business, a large chunk of both the time and costs involved will accrue from what is called the discovery process.
