Let’s say you are starting up a new business or want to start buying up investment properties and you are considering forming a Limited Liability Company (LLC). Perhaps in your initial research, you come across the term “Series LLC” and wonder if this is the right entity for your business or investments. A Refresher on …
Category: Business Law
Texas “Head Shop” Laws Since Recent Hemp Legislation
Whether intentionally or not, the Texas legislature instituted momentous changes to the legal status of CBD and hemp-based products with the passing of House Bill 1325 in 2019. Since the passing of that bill, a considerable number of businesses selling newly legal CBD, hemp, Delta-8, and associated products have entered the market, and Texas regulatory …
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Written Notice Requirements for Termination Under a Texas Contract
A well-drafted contract includes language to provide for the consequences of almost any possibility. One of the many things such a contract provides for is the possibility of termination before all the obligations under the contract are met. Should one of the parties wish to terminate a contract early or officially notify another party of …
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The Offering Memorandum in Texas
When privately-held business owners want to grow their business, they will often reach out to potential investors, hoping to raise money which will fund that growth. Understandably, investors want to know as much as possible about the business and its financial status before investing. An Offering Memorandum serves the purpose of providing information to potential …
Indemnification in Contracts
Contracts, when well drafted, seek to provide for, and agree to the consequences of, any possibility that might occur during the life of the contract. One important area that is frequently covered under many contracts is that of indemnification – essentially meaning protection against liability. Indemnification Clauses Indemnity is defined as “[a] duty to make …
Trademark and Service Mark Registration in Texas
A successful business often creates unique graphics, slogans, and logos to promote customer recognition of its products and/or services. The power of such branding is its ability to help customers link specific goods or services to a particular business. Therefore, protecting that exclusive image is of paramount importance to a business. Fortunately, Texas law details …
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Requirements of an Enforceable Contract in Texas
When parties choose to collaborate on a business venture, they agree to work together in a way that is mutually beneficial. The agreement may be informal, based on a verbal understanding or a handshake, or it may be more formal, such as a licensing agreement or a strategic partnership. The first component of a contract …
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Strategic Partnerships in Texas
Business owners who want to grow their business have many options available to them. Creating strong relationships with employees and customers is important, but another way to gain greater success is to partner with other companies, something called a strategic partnership. Complementary Offerings Businesses may form strategic partnerships to share resources, such as information, services, …
Sales Commission Agreements Need to be Carefully Drafted
Plenty of people in businesses that hire sales associates deal with a compensation arrangement. Typically, when a salesperson is responsible for a sale, some percentage of the value of the sale is payable to the salesperson directly as a way to incentivize effective selling practices and reward salespeople in proportion to how much they benefit …
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Intellectual Property License Infringement vs Breach of Contract
An Intellectual Property License allows an innovator, the licensor, to protect and capitalize on that intellectual property. It allows another party, the licensee, to use that IP, which may take such forms as trade secrets, operational knowledge, registered designs, or proprietary information. Ideally, the relationship is complementary; the licensor profits by allowing the licensee to …
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