If you suspect your business partner is stealing money, immediately consult with a business attorney, gather evidence, and protect your assets. Don’t confront them or attempt to secretly investigate, as this could worsen the situation. Legal remedies may include seeking a court order to freeze accounts, suing for damages, and potentially pursuing criminal charges.
In Texas, forcing a business partner to buy you out is generally possible if a buy-sell agreement exists, or if a specific legal situation arises where you can legally compel a buyout. This typically involves a pre-existing agreement outlining buyout terms or circumstances, or a triggering event like incapacity or misconduct.
Learning the basics of business contracts and agreements is like learning the ABCs for anyone entering the business world. Think of these contracts as promises between people that set the ground rules for their work together. When done right, these agreements are powerful tools that help everyone know what they’re supposed to do, protect everyone… Continue reading The Basics of Business Contracts and Agreements
In the commercial context, negligence occurs when one party fails to live up to perform a duty despite a legal obligation to do so. Texas law recognize and impose legal duties in several scenarios whereby the failure to meet a minimum standard of care could expose you to liability. This note discusses various scenarios when… Continue reading Business Negligence and Texas Law: What you Need to Know
While every part of a business can play a role in its success, business owners may wish to hide certain parts from the public. The term trade secret often applies to components of a business’s operation that are lucrative and need to remain protected from the public eye. Unfortunately, for many businesses, there is never… Continue reading How do I keep my trade secrets protected?
It’s one of those things that you’ve probably been told a million times since childhood – “Oral contracts are perfectly valid, and we have a deal.” While the first part of that sentence is generally true, it is not always so, and evidentiary issues make proving the facts behind the second part difficult. Starting with… Continue reading An Oral Contract Is Generally Worth The Paper It Is Printed On
One common question lawyers hear is “Why do I need an attorney when templates and samples are freely available on the internet?” While this may be true for legal services, it is equally true doctors, plumbers, electricians, and auto mechanics. A doctor should not attempt to perform surgery on himself; in most cases you should… Continue reading Hazards Of Signing A Contract Without A Lawyer
If you want to start a new business in Texas, one of the most important decisions you can make is the formation of the business entity. There are four primary styles of business in Texas, but here we’ll talk about the Limited Liability Company, or LLC for short. The most important benefit of an LLC… Continue reading How To Form An LLC In Texas
Plenty of law websites offer advice for every component of starting and running your business. Simple tasks like deciding what to name your company or filing for an Employer Identification Number (EIN) can have lawyer support but can also be done by knowledgeable entrepreneurs. Here are a few tips for answering ‘When do I need… Continue reading Confused About When You Need A Business Attorney
Social Media and Service of Process for Lawsuits Texas has joined a growing list of states that recognizes modern communications realism, people communicate via social media more today than ever before. Platforms such as Facebook, TikTok, and Instagram may provide the basis for effective and enforceable service of process for lawsuits. Texas Rules of Civil… Continue reading Like This Service Of Process By Social Media
