New York business people know that not everyone out there is completely honest all the time. Dishonesty on the part of others can be costly for businesses. What options does a business person have in dealing with these costs? Depending on the circumstances, a fraud lawsuit may be a reasonable course of action. It is important to know how fraud might be proved in court.
Many compare starting a business to having a new baby. Many responsibilities come with starting a business, and many unexpected events could occur in the first couple of years. Thus, business owners, like new parents, take the time to protect their rights and interests in a new business. Yet, no matter how careful you are or what protective measures you take, the unexpected can still occur. No one expects to be involved in a business litigation situation. However, it is a matter that small business owners can prepare themselves for.
Legal disputes involving your New York business are a threat to your livelihood and the future of your company. While it is critical to resolve these issues quickly and efficiently, it is not always necessary to resort to litigation to reach a beneficial outcome. In some cases, alternative dispute resolution could be a better way to move past certain types of complications.
Many New York business have negotiated contracts in which one party has requested the exclusive use of arbitration to resolve disputes. Should such a clause be included? While some attorneys believe that arbitration is a poor substitute for the courtroom to solve business disputes, the more enlightened view holds that the answer depends on a number of factors.
A common cause of litigation involving intellectual property is the decision by a key employee to take his talent and knowledge to a competitor. Usually, the departing employee and his new employer remain allies in any litigation that ensues. This theme was given a new variation recently when Uber fired one of its star autonomous driving engineers in the midst of complex business litigation with a Google subsidiary involving the alleged theft of intellectual property and unfair competition.
When you are going into business, you may decide that pooling resources and talent with someone else or multiple other people is the best route. This may also feel less risky as you are not jumping into the venture by yourself.
Doctors may be brilliant when practicing their medical specialties, but they can also be difficult business partners. A lawsuit filed this week in Manhattan Supreme Court accuses a prominent urologist of using funds belonging to a magazine that he and the plaintiff founded in 1996 for personal expenses. The lawsuit provides an example of how business partners, regardless of their professions, can engage in bitter business litigation.
When people decide to open their own business, they are taking a major risk because many of the circumstances surrounding the formation of business are out of a potential owner's control. Natural disasters could visit the business and cause a significant amount of property damage. The market could suffer a downturn for reasons that are completely out of the control of the business owners and leadership.
A lengthy and complex lawsuit involving a troubled New York City payroll contract is now headed to the United States Supreme Court. The Court has agreed to review a decision by the United States Court of Appeals for the Second Circuit that revived the plaintiff shareholders' securities fraud claims against Leidos, Inc., a large government contractor.
Many New Yorkers operate their businesses in partnership with at least one other person and possibly several people. While some of these are true general partnerships, other business organizations, such as an LLC, operate in many respects like a partnership. In any event, this form of business often is a great way for people to pool their resources and talents in order to turn a profit and earn a living.