Category: Business Law

At some point, almost every business faces the problem of an employee leaving to start a competing business. But before the worker leaves, he or she takes some things that will be very valuable in the new business — the former employer’s customer lists, marketing plans or other confidential information.

Shareholders of closely held corporations often view corporate minutes as a needless formality. But for legal, historical, and tax reasons, keeping good corporate minutes is important and worthwhile. By law, corporations must keep minutes of meetings of shareholders and directors. Failure to do so may be damaging. For example, if

One of the main benefits of doing business in the corporate form is the limited liability enjoyed by shareholders. Since a corporation is an entity separate from its shareholders, a person making a claim against a corporation can look only to the entity to satisfy the claim. A major exception