One would be hard-pressed to overstate the importance of a name in the business world. The name of a business is its identity. Many names become so valued, or are so valued by the owner, that they are trademarked so nobody else can benefit from the name. In my profession, getting the names of the parties to a lawsuit correct …
District Court vs. Small Claims Court – It’s Not Just the Amount at Stake By James R. VannAttorney at Law In the movie Sliding Doors, the simple act of catching or missing a particular train led the main character’s life down two drastically different potential paths. While certainly not as dramatic, a similar divergent path can appear when considering whether …
Obviously, creditors would like to obtain as much security as possible prior to making a loan, but it is also important to keep in mind the Equal Credit Opportunity Act (ECOA). For anyone not familiar with the ECOA, it is a federal law that prohibits lenders from discriminating against borrowers based on their race, religion, national origin, sex, or marital …
Many people in America dream of owning their own business. Every day, people quit their jobs and risk everything so they can have the freedom and control to make their own way in the business world. Many who become entrepreneurs certainly have the business knowledge and experience to be successful. Unfortunately, even great entrepreneurs fail to consider the legal aspects …
Non-compete agreements are now a very common component of employment contracts. Generally, these agreements serve a useful purpose: they help keep markets and industries healthy by restricting companies from stealing each other’s employees solely to obtain clients or confidential information to damage their competitors. Smaller companies and startups are especially likely to rely on non-compete agreements to protect themselves from …
The North Carolina Court of Appeals recently issued a decision regarding piercing the corporate veil, which reiterated that under North Carolina’s “instrumentality rule” an owner of a corporation or limited liability company can be held liable for the debts of the company, even if he or she is found not to have engaged in any wrongdoing individually. In Estate of …
Wednesday, October 16, 2013 from 3:00 to 3:30 p.m. Vann Attorneys Webinar: Protecting Your Accounts Receivable When a Customer Files for Bankruptcy How do you protect your accounts receivable when a customer files for bankruptcy protection? What should you do when a current customer files bankruptcy? How does the automatic stay impact my business? Is my company liable for payments received …
Failing to carefully review a legal document can be expensive – in one recent case, it cost a homeowner $7,000. In the summer of 2011, a satellite dish installer broke a water line at a Mecklenburg County, North Carolina residence. The resulting damage to the property was significant, and the homeowner submitted a claim with the installer’s insurance agent. After …
Effective August 1, 2013, the maximum limits for lawsuits in small claims court and district court will rise significantly. The small claims limit is doubling from $5,000 to $10,000 and the limit for district court cases is increasing from $10,000 to $25,000. Anything over that amount must be brought in Superior Court. The rise in the small claims limit will …
Many business owners today are looking for ways to decrease the cost of their workforce. The rising cost of payroll taxes, retirement plans and other benefits, along with the advent of Obamacare, have potential employers looking for ways to minimize overhead while still being able to attract and retain talented workers. One increasingly popular option is to hire independent contractors …
Attorneys are often accused of writing overly complex and confusing documents, and nowhere does this seem to occur more often than in contracts – whether leases, purchase agreements, settlement agreements, or non-compete agreements. This type of writing includes phrases that only seem to exist in old books and new contracts – for example, “hereinbefore” instead of “above.” There are a …
Whether you are starting a business, buying or selling a business, entering into a partnership or planning your exit strategy, you need a clear vision for what you want to accomplish. A vision in this sense is the end sum of your goals and overall purpose. Once you have defined your vision, the planning can begin. The vision you have …
Whether it’s buying a home, applying for credit or accepting a new job, people and businesses are drafting and executing contracts every day. Often, these contracts are not understood by the individuals signing them and perhaps not even read. Even lawyers such as this one have signed (or clicked) without reviewing all of the fine print. Nobody likes reading through …
The turn from one year to another is a good time to reflect both personally and professionally, even from a legal perspective. There are a number of areas for both where a little thought can make a big difference. On a personal level, the new year is a perfect time to examine your estate planning and to make any changes …
When starting any new business venture or establishing a new business entity, having appropriate documentation is important. The importance of having such documentation is increased substantially when more than one person is involved. We often help clients by drafting their corporate bylaws or LLC operating agreements, both of which set out how the organization will operate as well as the …
Most businesses and business people are all too familiar with the protracted exercise that is involved when attempting to collect on a judgment. Few, however, are as familiar with two potentially powerful methods that can be used before entry of a judgment and may alleviate the need for drawn out post-judgment execution proceedings.
If you turn on the news (or, as is more likely in today’s world, open up your favorite news website), chances are pretty good one of the first phrases you will notice is “the fiscal cliff.” Whether it’s a discussion of how it’s not really a cliff, or what our various political leaders’ plans for avoiding it may be, the …
If you attended Vann & Sheridan’s Hot Legal Topics this year, you hopefully gained some information regarding some new laws recently passed and currently under consideration that may impact businesses. Given the state of our economy, Congress is continuously searching for ways to turn things around. In that regard, there are some interesting new laws that could be voted on …
Obtaining a judgment in court is only the first step in pursuing delinquent accounts. While a judgment is a binding acknowledgement that money is owed, it does not actually force a debtor to pay. In light of that, and in order to combat a debtor’s avoidance efforts, there are some important things that need to be done after a judgment …
Most people are familiar with and use social media sites such as Facebook, LinkedIn and Twitter to communicate with friends, to network and connect with people, and for entertainment purposes. It is highly likely that many people use these sites while at work. In addition, many businesses are taking advantage of these social media tools to get information out to …
