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When a business shares trade secrets and innovations, and trains valuable members of the organization, it seems reasonable to expect those members to agree to stay with the business, or at least not join a nearby competitor pursuant to a non-compete agreement. These...
It is not uncommon for bankruptcy litigation to end in a settlement. In other legal matters both parties will generally agree to a proposed settlement before presenting it to the court, but this is not always the case for a settlement in bankruptcy. Instead, with...
Private equity firms have taken to a wide market, purchasing everything from doctor’s offices to pet stores. Entrepreneurs who run these firms profit by purchasing a business only to turn around and sell it at a higher rate a few years later. Business leaders who go...
The Small Business Reorganization Act of 2019 created a new subchapter within the Chapter 11 bankruptcy process. Subchapter V is designed to streamline the process for small businesses seeking the protections of Chapter 11. Signed into law in 2018 and going into...
Business owners struggling with insolvency may wish to avoid bankruptcy. Although bankruptcy can provide a fresh financial start through a sale, liquidation or restructuring, it is not the right option for every business. In some cases, one of these other...
Modern supply chain management is contingent on an array of contractual agreements. The COVID-19 pandemic has highlighted some flaws of this system and may serve as a catalyst for change to supply agreements. As noted in a recent review in Bloomberg Law, these types...
Directors of Delaware corporations are entitled to indemnification under 8 Del. C. s. 145 as provided in the corporation’s charter and bylaws. Subject to certain parameters under Delaware law, indemnification provisions require that the corporation indemnify its...
In its most basic form, a Chapter 11 bankruptcy petition allows a business to restructure its debt. This can result in a greater cash flow and help the business regroup, ultimately putting it into a situation where it can move forward instead of remaining stagnant and...
Investors expected WeWork to be the next big thing. Once touted as the next Alibaba, the company appeared poised to reinvent the office space. Instead of a mass, open area with desks and cubicles, WeWork provided innovative and creative spaces while also offering...
The financial scenarios that could lead to a bankruptcy filing vary significantly between businesses. The current economic climate has caused an increase in Chapter 11 filings as companies attempt to salvage their business. For companies focused on the retail and...