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Breaking Up Is Hard to Do: Surviving a Business Divorce
Conflicts between business partners are nearly inevitable. Thankfully, there are a number of ways for parties to negotiate up-front. Precautionary agreements give you space to resolve issues more easily or, at least, provide a picture of what the result will be when resolution is not possible.
This Lawsuit Goes to 11: Fraud and the Economic Loss Rule
The “This is Spinal Tap” Lawsuit If you’ve never seen This is Spinal Tap, close your browser immediately and watch. The 1984 “mockumentary” about a fictitious British rock band touring America belongs on the Mount Rushmore of movie comedies. It birthed a new style of storytelling, and it is impossible to imagine The Office, Parks and […]
Understanding “Reasonable Cybersecurity Measures” to Safeguard Data
Reasonable Cybersecurity Measures for Protection After collecting personal information, businesses must take “reasonable measures” to safeguard it. Some states, such as Florida and Alabama, have this standard (or a similar one) in their cybersecurity statutes. On the federal level, the Federal Trade Commission has brought numerous enforcement actions against companies for engaging in “unfair” cybersecurity […]
The New York City Bar Versus the Litigation Funding Industry
Let’s Talk Litigation Funding A July 30, 2018, legal ethics opinion from the New York City Bar Association (“NYCBA”) raises concerns about a common structure used for funding of litigation. In particular, the NYCBA Professional Ethics Committee concludes: “Under Rule 5.4(a) [of the New York Rules of Professional Conduct], a lawyer may not enter into […]
Business Valuation Tax Act of 2017: Comparability and Calculation
What is the Business Valuation Tax Act of 2017 Anyway? The Business Valuation Tax Act of 2017 (Tax Act) has introduced changes to the financial and regulatory landscape that specifically affect business valuation in the context of C-Corporations. This article provides a general overview of commonly used valuation methodologies and highlights a few key effects […]
Understanding the Language of the American Federal Legal System
Editor’s Note: This is an updated version of a similar article published in November of 2015. To view the original, click here. Americans take great pride in saying that ours is a nation of laws, not people. But resting on this laurel is dangerous. Laws are written, enacted, interpreted, changed, and enforced (or not) by […]
The Legal Implications of Cybersecurity When Collecting Personal Information
Understand the Stakes of Collecting Personal Information Cybersecurity law has been called many things in recent years—evolving, complex, varied, cutting-edge, even hilarious. Ok, maybe not the last one. But I would offer another phrase that can serve as a key takeaway from this article. This phrase also highlights the importance of strong cybersecurity from a […]
Don’t Go It Alone: The Best Advisor You Can Hire Is Worth Every Penny
The Best Advisor You Can Hire Would Hire Herself, Too The best advisor you can hire will be a clever and a creative problem solver who interacts with you with total integrity, honesty, and ethical conduct. The worst? Someone’s goal of growing richer and richer at your expense- and that’s one of the better scenarios. […]
PLUP Fiction: Not All Fraud is Sales Fraud
So far in this column, we have talked primarily about fraud committed at arms’ length by salespersons or investment advisors. These sorts of sales fraud are but two of the many flavors in the Cold Stone display of frozen, delicious deception. Today, we are going to look at a case of alleged fraud and bad […]
It’s All in the Details: The Importance of Rule 9 in Fraud Cases
Federal Rule of Civil Procedure 9(b) works for (and against) everyone If you have not had the good fortune to litigate a fraud claim in federal court, you might not be aware of Federal Rule of Civil Procedure 9(b), which provides: In alleging fraud or mistake, a party must state with particularity the circumstances constituting […]
