Business Law

10 11, 2017

UNLV Receives $4 Million to Revamp Lee Business School

By |November 10th, 2017|Categories: blog|Tags: |0 Comments

With 3,500 undergraduate students, 500 graduate students, and 100 faculty and staff, the Lee Business School is one of the largest schools at the University of Nevada, Las Vegas. The Lee Business School has done wonders for graduate and undergraduate students who are studying everything from business law to management information systems. Recently, thanks to a $3 million pledge and $1 million donation, UNLV's Lee Business School hopes to make even more of an impact in the business world. "The mission of Lee Business School is to cultivate leaders who transform business," said Brent Hathaway, dean of Lee Business School. "These gifts will greatly expand the capacity of the current center and further the vision of the school, benefiting students and the community for decades to come." Dennis Troesh pledged $3 million to expand the Center for Entrepreneurship (which will subsequently be renamed the Troesh Center for Entrepreneurship and Innovation). Additionally, the Charles Koch Foundation donated another $1 million to the school. The Troesh Center for Entrepreneurship and Innovation will partner UNLV students with renowned leaders and entrepreneurs in the business community. These industry leaders will help students learn how to properly negotiate, make strategic investments, learn the ins and outs of business law, how to read a business contract, how to close sales deals, and so much more. "Business must innovate to stay competitive, and the Center for Entrepreneurship offers the industry vital research and business development services to stay ahead of trends," said Troesh. The money from both the pledge and the donations will be dispersed over a five-year period beginning July 1. There are hundreds of industries that these future entrepreneurs can break into and they aren't all involving white-collar tasks. The [...]

27 06, 2017

5 Important Things to Look for in a Successful Commercial Lawyer

By |June 27th, 2017|Categories: blog|Tags: |0 Comments

If you're running your own business and you do not have a knowledgeable commercial lawyer working on your side, you have a much higher chance of getting in legal trouble. Commercial law is extremely complicated and there are so many confusing aspects of business that become part of business litigation, which is why it i's essential that your company finds a qualified, trusted, and hardworking business lawyer to work with you. Here are a few things you should look for when searching for a trusted business lawyer. Are they experienced? Talk to each prospective lawyer about their past experience. Go over the lawyer’s individual experiences, both successful and unsuccessful, and find out how they did. If the lawyer appears well versed in your type of business, you should be fine, but if they are too inexperienced, and are unaware of important aspects like workers comp, which 74% of states require all businesses to have, it might be a sign that you should continue your search. Do they seem prepared? Preparation is key in just about any type of business law case. Talk to them about their approach to specific cases and how they prepare. If you think they can gather enough pertinent information, they are probably a great match for your company. Are they showing a general interest in getting to know you? If your business lawyer doesn't seem like he or she has any interest in actually knowing you or your business, that attorney might not be very helpful in future legal issues or cases. You and your lawyer should have at least a friendly working relationship so that conversations can flow freely and each situation can be handled as quickly and effectively as [...]

17 01, 2017

Why You Should Hire a Lawyer for Drafting Business Contracts

By |January 17th, 2017|Categories: blog|Tags: , |0 Comments

Getting closer to a transaction makes everyone wonder about business contracts and all the terms they should include. Whether it's a lease, buying products, entering into a service contract, selling a house, or a company, there is one question we usually have on our minds. Do I need a Lawyer to Draft the Contract? And the answer is usually YES. That's why you should talk with an attorney as soon as possible. Request a consultation today, and we can outline a contract to suit your needs. Now let's get into the details of why it's important to hire a lawyer when dealing with these important documents. The Importance of Business Contracts Within any transaction, the most important document is the contract. Some transactions might seem simpler than others. Here are transactions you should always hire a lawyer to prepare the business contracts for: Working with a Freelancer Maintenance and Clean-up Services Leasing or Selling a Property Purchasing or selling products Entering into service contracts In these situations, the contract is vital to make sure everything works smoothly. If a lawyer drafts the agreement, they will make sure your interests are protected, you will avoid loopholes, and your business will be protected by the law. Protecting Your Interests When a lawyer drafts your business contracts, he will take into consideration your interests. Including sections which protect your Company's Intellectual Property. You can find more of them in this article. A lawyer can also help you specify the terms clearly so there is no discussion when receiving the product or services. Having a clear list of criteria for evaluating the quality of end product specified in the contract will make sure you receive exactly what you want out of the transaction. Avoiding Loopholes If [...]

30 11, 2016

4 Reasons Why Hiring a Business Lawyer Is Crucial to Your Business Success

By |November 30th, 2016|Categories: blog, Business Law|Tags: |0 Comments

[column width="1/1" last="true" title="" title_type="single" animation="none" implicit="true"] As a business owner, how high is hiring a business lawyer on your priority list? Chances are it should be higher. Having the right legal information readily available is crucial to your business success and growth, whether you're just starting up a business, or have been in the game for a while. Here are a few aspects a legal professional can help you with: What information to include in contracts to limit liability How to back up your position when a dispute arises How to approach crucial transactions and decisions Your responsibilities to keep your commercial entity separate from your personal assets Of course, you can try to do it alone or get advice from other sources. However, you risk making decisions based on possibly inaccurate information. That being said, your own personal legal advisor could be your best investment. Here are four reasons why: 1. Avoid Early-Business Missteps Getting started in the entrepreneurial world can be a thorny affair - especially in the legal department. This is why the wisest strategy would be to invest in legal business formation. You'll need to figure out which type of business entity you want to create first. It's important to have someone who can ask the right questions at the right moment and advise you on the best course of action. Business attorneys are best equipped for the job. Taking your particular circumstances and business goals into account, they can offer valuable information to make sure your business ventures off on the right foot. Forms, taxes, and licenses all come into play when dealing with clients and suppliers. The last thing you want is faulty operations that result in unexpected costs [...]

30 04, 2016

Top 10 Things Business Owners Need to Know About Entering Into Business Contracts

By |April 30th, 2016|Categories: blog, Business Formation, Business Law|Tags: , |Comments Off on Top 10 Things Business Owners Need to Know About Entering Into Business Contracts

[column width="1/1" last="true" title="" title_type="single" animation="none" implicit="true"] Litigation may be the only recourse for some business owners, as it often results when someone enters into a contract without fully examining what they are signing. At Tony M. May P.C., we see all types of businesses dealing with a variety of issues stemming from poorly written contracts, to those that signed contracts without actually understanding what they agreed to. If you are in the process of entering into a business contract, here are the top ten things you need to know beforehand to help protect you and your assets: All business contracts should be in writing. Oral agreements can be binding, but they are difficult to enforce in court. A written agreement is less risky and it clearly defines each party’s rights and obligations. Define each party’s rights and obligations. Defining the rights and obligations of both parties eliminates confusion, and makes it easier to plead your case in court as it has been clearly defined in the contract. Use clear language. Use clear language and terminology that you understand, so that you will be able to clearly determine your rights and obligations under the contract. Create short, clear sentences, with numbered paragraph headings to show a reader what is in the contract. Identify each party correctly. The contract should identify the accurate legal names of the parties involved. This is so they can determine their obligations to be performed under the contract, which includes using the full legal names of the corporations and/or LLCs that are parties to the contract. Include clear definitions of rights and obligations. The contract document must include all of the rights and obligations for each party member in the contract. [...]

29 01, 2016

Which Business Entity Should I Declare?

By |January 29th, 2016|Categories: blog, Business Formation|Tags: |Comments Off on Which Business Entity Should I Declare?

[column width="1/1" last="true" title="" title_type="single" animation="none" implicit="true"] When you have your own business, it can be a challenge in determining what type of business entity to declare. There are so many different options out there. Which option is the best for you and your business? Would it be best to declare it as a sole proprietorship? Or perhaps a Limited Liability Company (LLC) would be better in representing your business. In this article, we will break down the options with which types of business entities there are to declare, so you can better determine what will best benefit you and your business. Sole Proprietorship A sole proprietorship is a business where the owner is personally and solely liable for any legal responsibilities. This means that the business isn’t separate from the personal standings of the owner when it comes to any legal issues that may arise, such as a lawsuit. The business owner can claim their own business losses and profits on their annual personal tax returns. A sole proprietorship can be easy to form and operate for the business owner. No state filing is needed for a sole proprietorship. Partnerships A partnership is similar to a sole proprietorship, but there are shared aspects of the business. They are also easy to form and operate. Each partner in the business can claim their profits and losses on their own personal tax returns. No state filing is needed for a partnership. Limited Liability Companies (LLC) The business has an independent legal structure away from the personal legal liabilities of the owner(s). There is a separation between the assets of the business, and the owner. There aren’t any limitations in the number of owners, and there are [...]