Working in the maritime industry, you should know that there are many hazards that you’ll come across. From boat collisions to dangerous waters, you always have to be on guard and expect the unexpected. One of the risks of working on older ships and working with shipped contents from around the world is that you could come into contact with asbestos. Asbestos, which is the name for a group of naturally occurring minerals, are resistant to corrosion and heat, making them helpful in some industrial uses. However, these minerals are also dangerous to humans and can lead to serious illnesses inclu ..read more

Those involved in real estate transactions will often hear that it is “a buyer’s market” or “a seller’s market.” Sellers generally understand that it’s good news if it’s a seller’s market, and buyers know it’s good news when it’s a buyer’s market. Conversely, it can be more challenging if a buyer is looking for a property in a seller's market or vice versa. Real estate transactions don't always happen at the most opportune time, but certain strategies can help minimize the pain or close the deal. Below are some issues to weigh in evaluating the market and determining the best course of action ..read more

By investing in a new commercial building, you seemingly avoided the pratfalls that come with an older structure. Problems with relic buildings may include energy and electrical issues, lack of compliance with fire and safety regulations as well as vermin. However, a new building may not be without its flaws, either. Despite getting an OK from a building inspector, the new building may have structural problems that may not surface until months after you purchased it. Now, you consider whether legal action can remedy this situation. Faulty construction and design In many cases, faulty construct ..read more

As you started forming your own business, you may not have thought a lot about who will take over if you pass away or when you want to retire. While you may have considered a handful of potential candidates to fill your shoes, it likely was not in the front of your mind. However, having a succession plan is essential to owning a business. The sooner you create your succession plan, the more support you can give to the next person in line. Here's what you should consider as you get ready to create a succession plan for your business. Talking to the candidates You may be surrounded by a mix of p ..read more

No matter their size, scope or age, successful businesses rely on the strength of their contracts and employee agreements for a solid organizational foundation. While it is natural for the organization to slant the language in their favor, this can make certain provisions unenforceable. It is not uncommon for restrictive covenants to become too restrictive to be legally viable. Executives often put restrictive covenants in place to protect the best interests of the business. This can range from trade secret protection to a former employee working for a competitor. Unfortunately, many owners be ..read more

While individuals in many careers are considered at risk for injuries, workers in most occupations face hazards on nearly every shift. Even though there is overlap in several injury types such as broken bones, head trauma or toxic exposure, some occupations carry unique risk factors. Workers on a seafaring vessel, for example, face both harsh environmental conditions and the possibility of structural damage leading to injury. If injured on the job, a person could file a claim of unseaworthiness against the owner of the vessel to seek monetary compensation. While many people understand the gene ..read more

The commercial real estate venture you are about to embark upon seems too good to be true. As a result, you are eager to dive into this investment with minimal knowledge of the property and minimal experience in investing. This is not a good way to start such an investment plan. It also is not what an experienced and educated commercial real estate investor would do, either. This can be one of several costly mistakes when it comes to commercial real estate investing. Failing to diversify Research, knowledge, patience, practicality and relationship building are key attributes of a successful co ..read more

As Hurricane Ida swept through the Gulf Coast, it left many business owners struggling with property damage, lost revenue and other hardships. Those who purchased business interruption coverage are glad they did, but a successful recovery is not guaranteed. A few things business owners can do to strengthen their insurance claims include: Carefully draft your claim: A successful claim begins with a thorough knowledge of the policy, including its limits, exemptions, covered properties and other details. When you have mastered these details, you can make the strongest possible argument for the e ..read more

Among the pieces of equipment that commercial fishermen rely on is a winch. Usually consisting of a rope or cable powered by a motor, it is a tool used to wind in fishing nets as well as let them out. By adjusting a rope’s tension, the winch allows the net to move toward the boat or lets the net go further out into the water. You want to make that catch. If used properly, it is a crucial equipment for any commercial fishing boat seeking its catch and hauling it in. However, in inexperienced hands, the winch is a potentially dangerous tool that can lead to serious injury and even death. Potenti ..read more

Louisiana’s fall white shrimp season recently got underway bringing with it, optimism and hope of an industry bouncing back while still in the midst of the COVID-19 pandemic. We have long known how important shrimping is to Louisiana’s economy, providing an estimated 15,000 jobs in the state and generates $1.3 billion, according to the Louisiana Seafood Promotion & Marketing Board. With shrimp season here, the growing number of skimmer trawler boats seen along Louisiana’s Gulf of Mexico exemplifies the industry’s importance. Shrimpers have long desired to bring in large hauls bound for loc ..read more