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What is unfair competition in business litigation?

In a capitalist economy, individuals and businesses compete with each other. That is the nature of what makes our economy so great - the race to provide a better service or better goods and, as a result, become a profitable company. Unfortunately, sometimes the competition isn't always fair.

What is unfair competition in business litigation? The term is an umbrella concept for practices that an individual or company participates in that undermine another individual or company's lawful business interests. For example, many of our readers in Nevada are familiar with the concept of a trademark. A trademark is a recognizable and registered symbol of a business, such as the Starbucks coffee logo or the McDonald's golden arches. If one company were to use the trademark of another company without permission, it could result in business litigation based upon trademark infringement.

Are people fooling themselves about estate planning issues?

Although there are plenty of Nevada residents who have estate plans, there are probably more who do not. In some ways, it is understandable why an individual might not have an estate plan, but people often just don't understand how important it is to have one. And, of course, there are plenty of estate planning "myths" out there, which might be playing a role as well. But, are people in Nevada fooling themselves when it comes to estate planning issues?

A recent news article addressed that very question and determined that people may have the wrong impressions about estate planning. For example, some people think that because they do not have much in assets or wealth, they do not need an estate plan. As the recent article pointed out, that is far from the case. A will - the basic building block of most estate plans - can address more than just financial concerns. Parents of minor children, for instance, can spell out who they would like to care for their children if the worst should occur.

The legal obligations of a C-corp

When most Nevada residents think of a corporation, they are likely thinking of a C-corp. C-corps are corporate entities created to operate as a business, which protects shareholders from liability. There are pros and cons to starting a business as a C-corp, but, once the business is created, there are quite a few ongoing legal obligations that must be maintained.

For starters, taxes may be the most important part of running a C-corp. On a basic level, C-corps face double taxation, in that taxes must be filed for the corporate entity itself, but the profits or dividends that are distributed to shareholders are also taxed. Complying with corporate taxation can be a time-consuming and incredibly detailed process, as is complying with all applicable securities law.

Disputes about purchase agreements focus on the details

In almost any real estate transaction, the primary document that is the focus of all parties involved is the purchase agreement. When this agreement is signed, many of the varying aspects of the transaction are locked into place. As a result, any disputes about purchase agreements can be conflicts that are heavily focused on the details of the document - the wording and phrasing that will, in all likelihood, ultimately resolve the dispute.

It seems that the purchase price listed in the purchase agreement is rarely the source of disputes - that number, after all, is fairly easy to determine. But, it can be the little things that bubble up into a dispute, such as what fixtures will transfer with the property, prior disclosures of issues that affect the property and even unknown liens against the property. Even though a purchase agreement may be in place and the parties may feel compelled to follow through with the transaction regardless of any disputes, it is important to be aware of potential legal options.

Be careful when considering investment in a Nevada mine

You probably wouldn't be reading this article if you didn't already know that gold and silver mining is big business here in Nevada. Investing in a legitimate mine could provide you with substantial profits. Investing in an illegitimate mine could provide you with substantial losses.

How to tell the difference presents a challenge in some instances. The state of Nevada offers some advice regarding this issue, and the highlights are below. Even when armed with information, you could still suffer losses, in which case, you may want to seek out some legal guidance to explore your options.

Electronic passwords can complicate the probate process

The vast majority of Americans have numerous electronic passwords that they use to access any number of applications or programs. Typically, the most we ever think about these passwords is when we need to create new ones, with being required to come up with a dizzying combination of letters, numbers and characters to pass the minimum security threshold. But, as much of an annoyance as electronic passwords can be on a daily basis, just imagine how annoying they can be for family members who are left behind to attempt to figure them out after you are gone.

As a recent article noted, electronic passwords can cause all sorts of headaches when it comes to estate planning and probate. After all, these days online banking is incredibly common. If you do not leave a way to access your financial accounts via password security, an executor of your estate may need to jump through various hoops just to get to your assets.

So, you think it's OK to not have an estate plan? Think again

Millions of Americans know they should have an estate plan, yet they neglect to address this important issue. Why? Well, for starters, some probably believe that they do not need an estate plan because they don't have children, or they are not rich. Well, the fact of the matter is that almost everyone can benefit from an estate plan.

It doesn't matter if you do not believe you have enough assets to need an estate plan, or that you believe that loved ones left behind will be able to handle any estate needs that arise. An estate plan can provide a detailed framework for how to handle many issues, beyond assets and the care of minor children. Beyond the need to detail how assets, however minor, should be distributed, an estate plan can also include power of attorney documents that can address financial and health problems that might arise while a person is still alive. If you are incapacitated in any way, a power of attorney document could be crucial.

Businesses should be aware of potential products liability claims

When it comes to running a business, there are two basic ways to earn a profit: selling products or providing a service. One of the key differences between these two approaches is that when a business is engaged mainly in selling products, it needs inventory space and it needs to focus specifically on the details of the products it sells. Knowing all about the products can help when it comes to closing a sale, but there are other reasons to be knowledgeable about the products as well.

Businesses in Nevada that primarily sell products should be aware of potential products liability claims they may face, even if they are not the company that designed or manufactured the product. However, if they are, there is an even greater concern that a products liability lawsuit may be an issue down the road, unless the company takes the proper precautions.

Business law and real estate law can go hand-in-hand

Beyond turning a profit and staying operational, most of the leaders of businesses in Nevada have a common goal: growth. Most businesses depend on expanding their area of operations to improve profitability. New reach means new customers - which leads to increased profits.

But, it is difficult to expand if new offices, storage areas and retail locations aren't available or can't be located. That is why business law and real estate law can go hand-in-hand when it comes to the time for business leaders in Nevada to consider the options for building long-term sustainability and profitability. When searching for the right spot to expand, business leaders may need to consider leases or new construction, among other options.

Understanding mergers and acquisitions

You are undoubtedly proud of the work you have done in building a successful Nevada company. As your company has matured, you have worked to provide well for your family and keep your stockholders happy. Perhaps you have already taken advantage of circumstances to grow your company by opening new locations or expanding your services or goods, but you may be alert for a new opportunity.

If you have learned of a company that is struggling or a business owner who is ready to retire, you may be considering the idea of combining your business with this other company. You have two options: a merger or an acquisition. The circumstances will determine which is most appropriate for you.

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