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North Canton, Ohio legal blog

Things to consider for a start-up company

Starting a new company in Ohio is an exciting prospect. Being the boss, making the rules and potential income are all enticing, but it is not for everyone. There are a number of things to consider when looking into a start-up company.

The University of Connecticut says analyzing the viability of the company is one of the biggest things to consider. Taking a close look at the amount of risk is a good start. Satisfying investors in regard to financial returns is a big part of running a successful business, and the chances of this occurring increase when there are multiple products and development costs are low. Ensuring a target market and providing something that gives the company competitive advantage is also important, as is evaluating revenues to make sure they encourage growth of the company. Because starting a company is challenging, it is important to put into place a management team that is experienced and knowledgeable in everything involved with start-ups.

Fraud and other facets of business litigation

As a business owner, you may run into a wide variety of problems, many of which have been covered on this blog. For example, you could find yourself involved in a contract dispute or you could be accused of wrongdoing by a customer. However, fraud is particularly concerning and these allegations are widespread and have affected many business owners. Whether your business has been accused of fraud or you have experienced significant losses as a result of fraud, our firm knows how crucial it is to address these matters promptly and effectively.

Whether you own a large or small company, you could be accused of payroll fraud by one of your employee's. Or, your bottom line could be negatively affected by return fraud or accusations of workers' compensation fraud. Unfair business competition and fraud on behalf of your competitors can also generate an incredible amount of anxiety and have serious financial implications. Regardless of the type of fraud you are dealing with, business fraud can have a major impact on your company's future, which highlights how pivotal it is to protect your interests and make sure that you move forward in the most sensible manner.

Delayed onset injuries may indicate real harm

Suffering an injury is often a much more complex and affecting experience than you might anticipate. Depending on the nature of the injury itself, you may not even realize you are hurt until hours or even days afterward.

Injuries that don't cause immediate pain, known as delayed onset injuries, often indicate a medical problem. Should you feel pain after a car accident, or even after full contact sports, you should definitely seek medical care as soon as possible. In most cases, the sooner that you identify delayed onset injuries, the sooner you can treat them and lessen their effects. However, some delayed onset injuries can turn fatal if left untreated.

Naming an executor for your estate

We have discussed a variety of issues that arise with estates on this blog, from undue influence to creating an effective will. However, there are far more issues to address, some of which you may be currently dealing with. For example, you may be having difficulty naming an executor for your estate, in which case it is pivotal to go over the ins and outs of your circumstances thoroughly. Our law firm recognizes how important it is to find an executor who you can count on and is fully capable of carrying out your wishes.

Often, people decide that their spouse or one of their children is an ideal person to name as the executor. However, some may decide that a third party should be named executor. If you decide to go forward with a third party, you should bear in mind that there may be additional costs associated with this decision. If you are thinking about naming a loved one as the executor of your estate, it is smart to carefully discuss this responsibility with them beforehand. Being an executor can be challenging and this responsibility may lead to problems such as disputes with beneficiaries and allegations of wrongdoing. Estate issues can be very emotional for those involved and it is vital to ensure that the executor of your estate is able to handle this responsibility appropriately.

What isn't in your oil and gas lease

When you discovered that there was oil beneath your Ohio property, you may have imagined large royalty checks coming in monthly that would allow you to retire and live in luxury. However, the contracts used by oil and gas extraction companies are often complex. We at the law firm of Baker, Dublikar, Beck, Wiley & Mathews are well-versed in the information that every landowner should know before signing a contract with an energy company.

According to ProPublica, there is a lack of accountability and disclosure laws that allows oil companies to withhold money that belongs to you. One method that is often used involves expenses. The lease you are presented with may include a clause that makes you responsible for some expenses, which the company will deduct from your royalties. The lease may not have an explanation of the expenses, though, and you could be charged for fees that should not be your responsibility.

How to fight a breach of contract lawsuit

Someone who has been sued for breach of contract in Ohio may have some legal recourse, depending on the situation. Although terms of a contract are usually concrete, there are sometimes valid reasons why they are not able to be met. 

According to the Ohio State Bar Association, a breach of contract occurs when one of the parties does not fulfill the requirements of the contract to an acceptable standard. A breach can be material or minor, and a lawsuit can only be filed if a material breach occurred. There are a number of legal reasons that a defendant may use in defense of not carrying out contract terms. They include:

  • Statute of limitations deadline - a claim must be filed within a certain timeframe in order to be valid
  • Inaccuracy - if there was an inaccurate belief or mistake in regard to the meaning of the terms, the contract may be cancelled, but this defense is hard to prove
  • Impossibility - legitimate unforeseen circumstances prevented the work from being completed 
  • Misrepresentation - the contract may be cancelled if the other party concealed or misrepresented a fact of the terms

Tips to writing a valid will

Writing a will in Ohio may not be on the top of many people's priority lists, but it is important in order to prevent a legal battle between loved ones. Not only is it important to include all significant and relevant items for distribution, it is also imperative to use correct terms and language to decrease the chances of it being contested down the road.

According to U.S. News, one of the first decisions to make is who will be the executor of the will. It is best to choose a neutral party who is responsible, such as a bank or attorney. If the executor is a professional, he or she will be financially compensated for the work, but one may want to consider paying an hourly or flat fee if a friend or family member is chosen as executor. It is important to be specific when writing a will, from naming beneficiaries to assigning certain items.

Handling an international business dispute

When it comes to business disputes, all sorts of challenges can arise. However, this is often especially true with regard to international business disputes, which can be even more tricky to work through. If you are facing an international business dispute, you may have a wide range of questions and a considerable amount of anxiety. During this time, it is essential to go over your legal rights and make sure that you have spotted the most practical solution. In North Canton and in other parts of Ohio, the outcome of a business dispute can have both short-term and long-term effects on a business, which is why these cases must be handled carefully.

There are many different reasons why international business disputes can be especially complicated. For example, a business owner may have difficulties due to differences in laws between countries or misunderstandings that have arisen as a result of these differences. Moreover, someone going through a dispute may have a hard time contacting the other party or taking their case to court. However, if you are facing these challenges you should not feel hopeless. Depending on the details surrounding your case, there may be a number of options available.

The ins and outs of a sub-S corporation

New business owners in Ohio, who are deciding which entity to register as, may want to consider a sub-S corporation. It is a popular choice for smaller companies because of its liability protection and tax benefits.

According to the IRS, certain requirements must be met in order to be considered for an S corporation. The business must:

  • Have only one stock class
  • Work as a domestic company
  • Have 100 or fewer shareholders 
  • Have shareholders that are allowable, which include individuals, estates and certain trusts
  • Be an eligible corporation

Challenging a will on the grounds of undue influence

Imagine that before he passed away, your father had a new girlfriend. Shortly after they started dating, you saw less and less of him. Every time you called to check in, she answered the phone and provided some excuse for why he couldn't talk. After he passed, the probate attorney called you about the will and you found out that your father had recently written a new one that did not include you or your siblings. Instead, he left everything to his girlfriend.

If you find yourself in a situation similar to the above scenario, you might be able to successfully challenge your loved one's will based on the existence of undue influence. To find out more about undue influence and probate law, read below.

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