Running a business is challenging, even for the most prepared owners. Whether you have a small business or run a large corporation, you will need to enter into various contracts with employees, clients, vendors and other entities. If someone involved in those contracts breaks the contract, there are ramifications for doing so. Let's take a look at the penalties for breaching a contract.
Officials in Louisiana have voted to block the involvement of two of the country's largest banks from a road project in the state. The State Bond Commission, by a vote of 7-6, will not allow Bank of America and Citigroup to take part in a $600 million road project. The banks are not permitted to serve as underwriters on the project, which is for highway resurfacing.
There's nothing more stressful than entering into a contract with another party. Both sides will worry and wonder if the contract will be fulfilled and if not, what the ramifications will be for either side. Breaching a contract is a major issue in the business world, which is why we've created a list of reasons why you should never breach a contract.
Commercial real estate is a growing market across Louisiana and the rest of the country. Commercial development can take place just about anywhere, so long as the property is zoned for commercial use by the jurisdiction where you want to purchase the land. Here are some common legal issues that can prevent a commercial real estate transaction from moving forward in Covington.
Mudrick Capital has filed a lawsuit against Globalstar for its impending merger with another firm. The lawsuit claims that the company is self-dealing with its merger plans because it involves chief executive officer (CEO) James Monroe III. Monroe is also the chairman of Globalstar, which is what has prompted the lawsuit from Mudrick Capital, according to a report.
If you are planning on starting a business in Louisiana, there are plenty of options available for you when it comes to the formation process. It's best that you research all of your options and how they would benefit or hurt your potential business before coming to a decision. This is a legal process that will also affect your taxes, so be sure you choose properly.
When a business dispute arises, it can prove very difficult to solve fairly for both sides. Depending on the details of the conflict in question, both sides may have difficulty seeing the perspective of the other party or understanding how to fairly resolve the conflict, even if both parties wish to do so. Without the proper tools and guidance, all parties may suffer.
When one party uses a mark that another party believes represents their brand, it is always possible that some infringement has occurred. Copyright infringement is a very serious matter, and can lead to costly legal consequences, so it is always important to understand the nuances of this complex field before choosing the elements that represent a company or product.
If you are considering the next steps toward legitimizing your small business and setting it up to grow, you may have run into people discussing S corporations. S corporations are a specific type of business classification that many small business owners prefer to use. In very broad strokes, the most commonly noted benefits of the S corporation are its potential tax benefits and its relatively affordable protections.
Limited partnerships are a type of business structure that is often overlooked when two or more partners consider how to set up their business or investment venture. In recent years, the limited partnership has taken a backseat to the often-preferred limited liability company, but it still offers some compelling benefits when instituted properly.