Business Law Thoughts

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Jeffrey W. Puryear
WOMACK, LANDIS, PHELPS & McNEILL
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Business formation/entities
 Corporations, LLC’s, partnerships, sole-
proprietorship
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Acquisitions and mergers
 Businesses, property
 Addressing all the issues can be difficult
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Contracts
 E.g. materials/services, franchise agreement
 Do you know what they say and mean?
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Bankruptcy
 You lose twice
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Employment and labor issues
 Hiring, promotion and termination – EEOC claims
 Policies and procedures
 Social media and websites
 Covenants not to compete
 Immigration
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Litigation is at an all time high
 Tort claims
 Deceptive trade practices
 Aided by computers and technology
▪ “Deleted files” – oxymoron
 Punitive damages
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Negligence case – auto accident on campus
Elements:
 Duty of care
▪ Reasonable conduct
▪ Traffic laws/statutes
 Was there a violation of the duty
 Proximate cause – “but for”
 Resulting damages
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Defenses
 Negligence/fault/conduct of the plaintiff
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Learn your business
Ask about risks and liabilities in your industry
 Use time and resources today to save in the future
 Don’t be surprised by events
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Use good business judgment
 If it “sounds too good to be true,” it probably is
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Keep good documentation and records
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Correcting a mistake is the right thing to do
Litigation is very expensive
 Adverse verdicts, attorney’s fees and costs
 Principles – and proving them – are not cheap
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We need all the facts and documents
 can be especially difficult for organizations
 Destroying evidence is costly
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A settlement is good business
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Best of times
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Achieving a good result – especially in short order
Constant education and learning
Travel/exposure to new places
Successful jury trials
Worst days
 Unethical and unprofessional lawyers
 The law appears to be in favor of your client but the
judge rules otherwise
 Unsuccessful jury trials
Jeffrey W. Puryear
WOMACK, LANDIS, PHELPS & McNEILL
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