Those who surround themselves with meaningful works of art and other small pleasures may reap the benefits of those choices for years to come. Their loved ones may eventually profit from those decision as the works appreciate in value over time. Some fine art investors may be disappointed with the purchase.  That disappointment may lead to a lawsuit against a broker, gallery or creative professional. The following are the most common reasons people pursue art-related civil claims after purchasing a work. Concerns about authenticity Art fraud has been an issue for as long as art has comman ..read more

Starting a business with another person means placing a lot of trust in that individual. An individual generally trusts that anyone with whom they start a business will fulfill their obligations and act in the best interest of the company. Unfortunately, not every business venture involves partners with the same goals and the same sense of ethics. Occasionally, one business partner may find themselves in a difficult scenario in which they believe that the other has breached their fiduciary duty to the organization that they own jointly. How can a business owner respond to a likely breach of fi ..read more

The procuring cause doctrine, as it applies to real estate transactions, is an equitable doctrine that holds a broker is entitled to a commission when the broker has introduced the buyer and seller and inaugurates continuous negotiations of which the broker is a part, leading to a sale unless the buyer and seller intentionally exclude the broker. When the buyer and seller exclude the broker the requirement that the broker engage in continuous negotiations is vitiated. The question arises “Is the doctrine applicable when the listing agreement contains an integration clause?” The answer may be ..read more

Starting a new business is a very exciting idea, and people may let their enthusiasm get the better of them. They may rush ahead with their idea in the hopes of being the first to monetize a specific concept. However, there are certain things that an entrepreneur needs to know before they actually launch a new business. Much of what an entrepreneur needs to learn about will be specific to their business model and industry, but there is some generalized knowledge about what needs to be done that will benefit just about anyone starting their own company, including the three tidbits of entreprene ..read more

Starting a business is a complex process that can take many months and requires countless hours of personal time invested in addition to the financial contributions typically necessary to start a functional enterprise. Entrepreneurs eager to get their concept out to the public as soon as possible sometimes make mistakes by rushing through crucial stages in the business development process that could protect them from litigation down the road. The three mistakes below can potentially increase a startup’s chances of facing a reputation-damaging lawsuit in the future. Not having custom contracts ..read more

A business partnership is a long-term relationship in which two or more people cooperate for mutual financial and professional benefit. Partners combine their resources and experience to form functional businesses that either partner might struggle to run on his own. Partnerships begin in different ways.  Some are a result of careful forethought and planning.  Some are a result of an informal working relationship that the parties desire to formalize.  Often, the parties reduce the terms of their working relationship to a writing.  A valid contract consists of an agreement b ..read more

Business partners (ideally) share their efforts and their resources to help build a functional and profitable company. In a two-partner firm, both business partners directly benefit from successful company operations and both of them might suffer if there were issues with the company. Disputes between business partners can affect the culture at a company and could eventually lead to the organization’s dissolution. Those who recognize the common causes of partnership disputes can better prepare themselves for the realities of joint business ownership and avoid escalating conflicts that could ha ..read more

Meeting someone who has similar aspirations can be a very valuable encounter for a would-be entrepreneur. A potential business partner can offer the expertise, support and/or funding that they require to turn their concept into a viable business model. Unfortunately, much as it is with other relationships, people are often over-eager at the start of a business partnership and fail to discuss important matters that could directly affect their rights and financial solvency in the future. During the early stages of a business partnership, it is crucial to negotiate specific terms for one’s protec ..read more

The dark-store theory is increasingly becoming more about practice than theory since emerging during the Great Recession in the late-2000s. The concept is relatively simple – the value of warehouse space, big-box retail building or other commercial property should be determined by the value of the building when it is empty. The owners complained that they were over-taxed by local assessors and overvalued by local appraisers, which meant they paid millions in taxes. The valuation of real property generally involves looking at comparable properties and their sale price, the cost to reproduce the ..read more

As with residential real estate contracts, commercial real estate contracts often need contingencies to avoid unnecessary risk. Adding a few carefully crafted contingency plans are safety measures that can be helpful or provide peace of mind to buyers and sellers and perhaps be the difference between catastrophe and triumph. While no deal is risk-free, an attorney who handles commercial real estate agreements and litigation can help clients draft an agreement to avoid as much risk as possible. Common contingencies These are four of the more popular contingencies: Financing: Few deals go throug ..read more