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Business Law Thoughts

Jeffrey W. Puryear WOMACK, LANDIS, PHELPS & McNEILL. Business Law Thoughts. I. Legal concerns in business. Business formation/entities Corporations, LLC’s, partnerships, sole-proprietorship Acquisitions and mergers Businesses, property Addressing all the issues can be difficult.

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Business Law Thoughts

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  1. Jeffrey W. Puryear WOMACK, LANDIS, PHELPS & McNEILL Business Law Thoughts

  2. I. Legal concerns in business • Business formation/entities • Corporations, LLC’s, partnerships, sole-proprietorship • Acquisitions and mergers • Businesses, property • Addressing all the issues can be difficult

  3. I. Legal concerns in business • Contracts • E.g. materials/services, franchise agreement • Do you know what they say and mean? • Bankruptcy • You lose twice

  4. II. Liability concerns in business • Employment and labor issues • Hiring, promotion and termination – EEOC claims • Policies and procedures • Social media and websites • Covenants not to compete • Immigration

  5. II. Liability concerns in business • Litigation is at an all time high • Tort claims • Deceptive trade practices • Aided by computers and technology • “Deleted files” – oxymoron • Punitive damages

  6. III. Torts • Negligence case – auto accident on campus • Elements: • Duty of care • Reasonable conduct • Traffic laws/statutes • Was there a violation of the duty • Proximate cause – “but for” • Resulting damages • Defenses • Negligence/fault/conduct of the plaintiff

  7. IV. Legal advice for business • Learn your business • Ask about risks and liabilities in your industry • Use time and resources today to save in the future • Don’t be surprised by events • Use good business judgment • If it “sounds too good to be true,” it probably is • Keep good documentation and records

  8. V. Business clients should know: • Correcting a mistake is the right thing to do • Litigation is very expensive • Adverse verdicts, attorney’s fees and costs • Principles – and proving them – are not cheap • We need all the facts and documents • can be especially difficult for organizations • Destroying evidence is costly • A settlement is good business

  9. VI. Practice of law • Best of times • Achieving a good result – especially in short order • Constant education and learning • Travel/exposure to new places • Successful jury trials • Worst days • Unethical and unprofessional lawyers • The law appears to be in favor of your client but the judge rules otherwise • Unsuccessful jury trials

  10. Your questions?

  11. Jeffrey W. Puryear WOMACK, LANDIS, PHELPS & McNEILL Business Law Thoughts

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