New Business

2020 Asset Purchase vs Stock Purchase – Pros & Cons

Things that Distinguish an Asset Purchase from a Stock Purchase Transaction It’s exciting to buy or sell a business. It’s a time full of many considerations and many questions.  The most fundamental question is whether to structure the transaction as an asset purchase or as a stock purchase.  The answer you pick will have many implications.  Consider the following. What Are The Pros Of Asset Purchases? Buyers tend to prefer asset purchases...

How To Start An LLC In Texas

Join the Club -  The Exclusive, Elusive Texas LLC Limited Liability Companies are all the rage in business circles.  You need to know the basics if you have any aspirations at all to run with the in-crowd.  You may eventually decide that you need to bring at least one LLC into your life. An LLC is a creature of statute.  Since we’re in Texas, we will focus on LLCs created under...

Mission Impossible? Protecting Trade Secrets

  The Texas Supreme Court just handed businesses a tremendous victory concerning trade secrets. The issue - Businesses fight hard and often take extreme measures to protect their trade secrets from falling into the hands of a competitor.  One tactic that is often employed is to have each employee execute a confidentiality agreement.  The conundrum, of course, comes with a business tries to enforce the agreement in Court without actually disclosing...

Health Care Tax Credit for Small Businesses

The Affordable Care Act gives certain small businesses a tax credit if they provide health insurance to their employees.  Sounds too good to be true?  That's because few businesses will qualify. For tax years 2010-2013, the maximum credit is 35% for small business employers.  In general, on January 1, 2014, the rate will increase to 50%. If  a small business pays $50,000 a year toward workers’ health care premiums and  otherwise qualifies for...

Non-Competition Agreements in Texas – New Court Decision

Lawyers like predictability. Witnesses who don’t change their testimony,  statutes that aren’t  amended every two years,   Supreme Court decisions that aren’t tossed out on a whim….these  are the  little things that make lawyers happy. Which is why the Texas Supreme Court’s decision on December 16, 2011 in Marsh USA Inc  v. Cook  sent shock waves in the lawyer world from the Gulf to the Red River. Marsh concerns the enforceability of non-competition agreements –...

Jury Verdict for $700,000 in Breach of Fiduciary Duty Case

In a closely- watched case, a Denton County jury has decided that an individual and his new company should pay the individual’s former employer $700,000 for theft of trade secrets and breach of fiduciary duty. The individual, Kevin Wolfe, had worked for 5 years as general manager for a manufacturing company, Medical Extrusions Technologies-Texas, Inc., located in Lewisville, Texas. In 2010, Wolfe decided that he wanted to start a competing...

Non-compete Agreements in Texas

Non-compete agreements are usually enforceable in Texas, but are subject to being modified by a court.
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