Goerlitz Law, PLLC Blog
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Discover interesting business law insights at our blog. Goerlitz Law, PLLC is a boutique law firm offering business, real estate, and litigation services to lenders, small businesses, and individuals in Minnesota and Wisconsin
Goerlitz Law, PLLC Blog
1M ago
The decision to sign a contract with another business should be beneficial to an organization. Their contractual arrangements could help control operational expenses or might give them access to resources that other businesses do not have. A contract can lead to affordable materials for production, reliable outsourced services or a consistent stream of revenue for a business. Unfortunately, simply signing a contract does not guarantee that both parties appropriately fulfill their obligations to each other. For example, a business that has already received services from another company might re ..read more
Goerlitz Law, PLLC Blog
2M ago
A merger or an acquisition of a massive undertaking. Typically, those trying to arrange a major business transaction spend months negotiating terms and researching business prospects. Often, last-minute challenges are the result of regulatory enforcement. For example, concerns about antitrust laws occasionally result in federal authorities actively preventing a merger from taking place. Other times, the discovery of undisclosed information about either business or changes in the marketplace could derail a planned merger or acquisition. Large businesses have long benefited from an opaque owners ..read more
Goerlitz Law, PLLC Blog
3M ago
Business mergers have existed for as long as separate companies have. They allow existing companies to expand rapidly and to combine their resources to better cater to consumers. Mergers can be beneficial for organizations but are also sometimes problematic for the public. Therefore, federal antitrust laws sometimes limit mergers. Regulatory agencies may challenge planned mergers based on the possibility that they would eliminate competition or create a monopoly. A recent update of federal policies about business mergers could mean that companies planning mergers will face more scrutiny in the ..read more
Goerlitz Law, PLLC Blog
6M ago
Shareholders make significant financial investments in businesses and obtain certain rights and compensation in return. They generally have the right to continue exerting their authority and receive those benefits until they sell their shares in the organization or the company ceases operations. However, sometimes minority shareholders with a small ownership interest in a company face manipulative misconduct on the part of executives or other shareholders with the aim of forcing them to sell their shares. A shareholder freeze-out occurs when a majority shareholder or a group of shareholders tr ..read more
Goerlitz Law, PLLC Blog
7M ago
Entering a partnership can be exciting, as it involves combining shared visions and complementary skills to drive a business forward. But as with any relationship, it’s crucial to set clear expectations and guidelines from the outset. This is where a well-drafted partnership agreement comes into play. A partnership agreement defines the business’s operation, detailing each partner’s rights, responsibilities and roles. It helps prevent misunderstandings and provides a reference point for resolving disputes. While it’s tempting to rely on verbal agreements, especially among friends or longtime c ..read more
Goerlitz Law, PLLC Blog
8M ago
When companies hire new workers or promote existing employees, the process usually involves negotiating and signing an employment contract. That contract may address everything from how the employee behaves on social media to the compensation they will receive and the expectations for their performance. Oftentimes, those in highly compensated positions, such as engineers, executives and managers, also negotiate arrangements for severance pay when they leave an organization. In this way, a worker can receive certain pay and benefits after a layoff or termination. But, workers and companies may ..read more
Goerlitz Law, PLLC Blog
9M ago
Business acquisitions can make or break the organization that is acquiring another company. The process of purchasing an existing company is a lengthy one that carries a massive price tag. Small oversights and mistakes can lead to massive financial setbacks or possibly the failure of the acquisition process or even the company attempting to buy another business. It is, therefore, incumbent upon executives and others in positions of leadership at a company planning an acquisition to make sure that they handle the process very carefully. One of the most important considerations when acquiring an ..read more
Goerlitz Law, PLLC Blog
10M ago
Turning two separate businesses into one cohesive organization can be quite a challenge for the executives and management teams involved. Following a merger, there will generally be major shifts in the resulting company. Companies must act quickly to ensure the success of a merger. Businesses often need to reorganize during or after a merger with another company, and that process may mean that the resulting business is substantially different than either of the businesses that combined to make the new organization. There are many changes that may need to take place to successfully combine two ..read more
Goerlitz Law, PLLC Blog
1y ago
Mergers can completely change the functional abilities of your company and also its financial situation. If you overextend the company financially, it may never recover from the merger. On the other hand, adding new staff and facilities could be exactly what your organization requires to continue growing as demand for your goods or services increases. Perhaps your company is about to approach another business in the same industry so that you can combine your operations and more effectively compete with the bigger players. Perhaps your goal is to acquire a company in an adjacent but separate in ..read more
Goerlitz Law, PLLC Blog
1y ago
It’s a painful but unavoidable reality: If you run a business, you’re bound to occasionally run into problems and the threat of litigation. Whether that threat comes from a disgruntled former employee, an ex-partner, a supplier, a vendor or a customer, you need to understand precisely what a litigation hold means for you and how to implement one. Otherwise, you could quickly find your legal troubles compounded. You have a legal duty to preserve anything that might be evidence in litigation It doesn’t matter if the likelihood of litigation is merely unclear or very slim – at the first indicatio ..read more