Category Archives: General Counsel
What Happens When A Business Partner Breaches A Fiduciary Duty In Ohio?
Trust matters in business relationships because partners or co-owners often have access to the business’s finances, secrets, customers, and potential deals. If this trust is breached for personal gain, it can lead to a legal conflict that threatens not only the business but also the interests of the other partners. Ohio law imposes legal… Read More »
Can You Sue For Fraudulent Inducement In An Ohio Business Transaction?
When carrying out business dealings, both parties usually rely on the belief that the other is being truthful before signing a contract. However, a company or individual can enter into an agreement and later realize the information provided was misleading. This situation is called fraudulent inducement. What is fraudulent inducement? Fraudulent inducement occurs when… Read More »
Can An Ohio Business Owner Be Personally Liable For The Company’s Debts?
Among the main reasons why entrepreneurs set up an LLC or corporation is that they do not want their personal financial matters and business affairs to get mixed up. If the firm cannot meet payment to a creditor, gets sued, or becomes involved in any other situation resulting in debt, the entrepreneur’s house, cash,… Read More »
What Is A UCC Financing Statement, And Why Is One Filed Against Your Business?
If you run a business, you may be anxious to know that a financing statement was filed under the Uniform Commercial Code (UCC) on your business. Though such a situation can sound quite threatening, folks tend to worry more about this than necessary. In fact, a UCC financing statement simply serves the creditor’s interests… Read More »
Can You Recover Attorney’s Fees In An Ohio Breach Of Contract Lawsuit?
If you’re in a contract dispute, you might think that the party that loses the case has to pay the other side’s attorney fees. That, however, is not normally the case in Ohio. Whether you can recover the attorney fees will depend on a number of factors, one of which is the terms of… Read More »
When Can An Ohio Business Sue For Tortious Interference?
Sometimes business relations are crucial for the success of an organization. Business relations with suppliers, clients, and partnerships with workers are all vital elements that help the firm grow and succeed. The financial impact of such an interference becomes extremely negative, especially when the third party acts purposely to interfere with the relationship or… Read More »
What Ohio Businesses Should Know Before Using AI-Generated Contracts And Policies
AI-powered instruments are becoming more and more popular among companies. Nowadays, many enterprises utilize AI systems for preparing agreements, handbooks for employees, website policies, marketing campaigns, and internal regulations. Although such instruments might prove an opportunity to save money and time, Ohio-based firms need to be aware of the possible legal consequences related to… Read More »
How Small Businesses Can Prepare Legally Before Signing Commercial Leases In Ohio
Signing a commercial lease may be one of the most important and costly decisions a small business owner can make. Whether a business owner is looking to open their first storefront, expand their office space, or move their business to a new location, a commercial lease can bind them to a number of financial… Read More »
Independent Contractors Vs. Employees: Legal Risks For Ohio Small Businesses
Small businesses in Ohio rely on independent contractors for their flexibility and ability to manage costs. However, it is crucial to understand the legal difference between independent contractors and employees so that you can avoid legal and financial penalties for your business. Why worker classification matters The type of category the employee falls under… Read More »
What Ohio Small Business Owners Need To Know About Non-Compete And Non-Solicitation Agreements
Two of the most popular legal tools for Ohio small businesses are non-compete and non-solicitation agreements. These are used to safeguard customer relationships, confidential information, and investments in your employees. Unfortunately, there’s a large amount of confusion regarding these agreements, and if not drafted properly, they can be unenforceable. It is therefore necessary to… Read More »