Plain-language answers to the most common business law questions, written by Haute Lawyer Network's editorial team.
Tortious interference is a civil tort that occurs when a person or entity intentionally and improperly interferes with another party's ex…
Read Answer →A promissory note is a written, signed document in which one party — the maker — unconditionally promises to pay a specified sum of money…
Read Answer →Piercing the corporate veil is a legal doctrine that allows a court to set aside the limited liability protection of a corporation or LLC…
Read Answer →A joint venture (JV) is a business arrangement in which two or more parties combine resources, expertise, or capital to undertake a speci…
Read Answer →A security deposit in a commercial lease is money held by the landlord as security against the tenant's failure to pay rent, damage to th…
Read Answer →Corporate governance refers to the system of rules, practices, and processes by which a corporation is directed, controlled, and held acc…
Read Answer →Antitrust law — also called competition law — is the body of law that promotes and protects fair competition in the marketplace by prohib…
Read Answer →A confidentiality agreement — also called a non-disclosure agreement or NDA — is a contract obligating one or both parties to keep specif…
Read Answer →A hostile takeover is an acquisition attempt in which a bidder seeks to acquire a target company despite opposition from the target's boa…
Read Answer →A force majeure clause is a contract provision that excuses one or both parties from performing their contractual obligations when extrao…
Read Answer →A Material Adverse Change (MAC) or Material Adverse Effect (MAE) clause is a provision in a merger, acquisition, or financing agreement t…
Read Answer →A shareholder derivative lawsuit is a lawsuit brought by a shareholder on behalf of — and in the name of — the corporation when the corpo…
Read Answer →Trade secret misappropriation is the theft or unauthorized use of confidential business information that provides a competitive advantage…
Read Answer →Business litigation is the process of resolving commercial disputes through the court system. It encompasses a broad range of disputes be…
Read Answer →A letter of intent (LOI) — also called a memorandum of understanding (MOU) or term sheet — is a document that outlines the key terms of a…
Read Answer →Contract negotiation is the process by which parties to a proposed agreement discuss, modify, and ultimately agree on the terms before si…
Read Answer →Business partnership disputes arise when co-owners of a business disagree about operations, finances, strategic direction, compensation,…
Read Answer →Business owners who hire employees take on significant legal obligations — federal and state laws govern hiring, compensation, workplace…
Read Answer →A franchise agreement is a legally binding contract between a franchisor — the company that owns the brand and system — and a franchisee…
Read Answer →Intellectual property (IP) refers to creations of the mind — inventions, creative works, brand identifiers, and confidential business inf…
Read Answer →Breach of contract occurs when one party to a valid contract fails to fulfill their obligations under that contract without a legal excus…
Read Answer →A non-disclosure agreement (NDA) is a legally binding contract in which one or both parties agree to keep specified information confident…
Read Answer →Business succession planning prepares for the transfer of a business to family members, employees, partners, or outside buyers when the c…
Read Answer →A buy-sell agreement is a legally binding contract among business owners that pre-determines what happens to an owner's interest when a t…
Read Answer →A shareholders agreement is a contract among the owners of a corporation that governs their relationship, rights and obligations, and how…
Read Answer →An operating agreement is the foundational legal document that governs how a limited liability company is structured and operated. It def…
Read Answer →Choosing between an LLC and a corporation is one of the first and most consequential decisions a business owner makes. Both limit persona…
Read Answer →A non-compete agreement — also called a covenant not to compete or a restrictive covenant — is a contract provision that restricts an emp…
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