Stephen Kaplan, P.C.

Dallas Business Law Blog

An amicable business break-up benefits everyone involved

Just as you prepared when starting your business, you better prepare for a potential business break-up Nearly all business relationships end, perhaps due to visionary and decision-making differences, disparate working styles and an unequal partnership as one owner chooses to passively pull away. It is not just one abrupt incident that leads to a business break-up.

Concerns gradually mount bringing problems that interfere with the business and even affecting personal lives. You know that it is time to end this partnership. With that in mind, you also hope to make the break as amicable as possible.

7 tips for writing strong business contracts

When you are running a business, you have a lot of tasks you can work through to make your business operate more smoothly. One of the most important things you should tackle is ensuring that your business contracts are well-crafted and legally enforceable. That way you can resolve any future disputes more quickly and also avoid misunderstandings because each party knows what they have agreed to, for what price and what will happen if someone doesn't meet the contract terms.

7 essentials to include in an employee handbook

When you are building your business, you should think about creating an employee handbook once you start hiring employees. Without one, you can have a harder time enforcing employee rules and you even could face legal problems down the road.

Yet the thought of creating your employee handbook probably is a bit overwhelming. What should you include in it? 

5 ways you can help protect your company's trade secrets

Trade secrets are invaluable to your company's success. Unfortunately, this value also makes them attractive to thieves. Once your trade secrets have fallen into the hands of your competitors, they are all but worthless.

Although theft is a constant threat, there are some key steps you can take to help ensure the protection of your trade secrets.

Why LLCs need written operating agreements

During the start-up business process, a written operating agreement is a necessity for a limited liability company (LLC). This document provides detailed plans regarding ownership and the duties of its members, who are the business owners. In addition, an operating agreement ensures that an LLC conducts itself in an appropriate manner while protecting the personal liability of a business.

But some LLCs question the benefits of an operating agreement. From the onset, start-up companies seek to minimize expenses in whatever way possible, and some new business owners even skip the critical step of creating an operating agreement. This is not a good idea.

Who will take over my business?

It can be exciting to own your own business. Once your company is up and running, you have the feeling of limitless opportunity.

An essential part of owning a business is deciding who will take over when you retire or pass on. Life can be unpredictable, so it is never too early to think about a succession plan for your business.

Can a pandemic put business trade secrets at risk?

As a business owner, the assets you need to protect reach far beyond your cash flow. Your intellect is the foundation for your concept; your trade secrets make your business model unique.

If authorities do not consider your employees essential, you likely wonder how you will handle potential layoffs. You would be wise to think about how you can protect your trade secrets as well.

Will litigation lead to my trade secrets being revealed?

One crucial characteristic of any trade secret is that it remains secret. It is right there in the name. In fact, the owner of this type of valuable information must take "reasonable measures" to ensure it remains classified - otherwise the law may not consider it a trade secret.

So what happens during trade secret litigation, a process that plays out in the courts? Might someone be forced to reveal their prized trade secrets?

Take control of your company's cybersecurity

Cybercriminals are becoming increasingly bolder and more sophisticated in finding ways to infiltrate computer systems for public agencies and private businesses. Texas Governor Greg Abbott said recently that state agencies detected 10,000 attempted attacks per minute from Iran over two days in early January.

Despite these attempts to access government information and infrastructure, a key to the survival of any business depends upon its ability to safeguard sensitive information for customers, such as personal and financial records. As a result, most are stepping up their efforts to increase cybersecurity measures.

Estate planning advice for small business owners

It doesn't matter if you're wealthy or only live a modest life; estate planning is for everybody.

Estate planning for business owners is different than for the everyday individual. You may need to account for buy-and-sell agreements, a succession plan, and tax efficiencies, among others.

Unless otherwise indicated, attorneys listed in this site are not certified by the Texas Board of Legal Specialization.

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