Traditionally speaking, non-compete agreements (NCA) have been used by different employers as a way to keep employees who are privy to trade secrets and other strategic operational insight from being easily taken and used against their employer. As a result, any number of industries from sales to software development have taken to protecting their intellectual property by requiring their employees to sign these type agreements.
A valid contract does not just include the signatures of two or more parties. There are a lot more elements that go into a valid contract. If any element of a contract is missing, or violated, the contract can be deemed invalid. Breach of contract could also come into play if any of the elements discussed in this post are not present in a contract.
Last year, a Broward county judge awarded a mother and daughter $5,298.75 in a default judgment against singer Justin Bieber. The lawsuit alleged that the pop star refused to appear for a meet-and-greet session, which came with the two concert tickets the woman purchased.
A handshake should be enough for someone to hold up their end of the bargain, right? Unfortunately, it's 2017, and not everyone is as scrupulous as we'd like them to be. When push comes to shove in a business deal, agreeing parties may try to break your contract and take advantage of the situation. Or, they might break the contract due to financial issues or circumstances out of their control.
Tampa General Hospital has reached a settlement in a breach of contract lawsuit in which it was alleged that at least one if not several of its employees were responsible for unauthorized access of patient records. In settling the case, the hospital will not only contribute $10,000 to a settlement fund, but will also cover the costs of one year's worth of credit monitoring among the group's members as well.
We live in an era in which entrepreneurial insight and technology are ever-evolving. As a result, companies rush to be the first to introduce their products to the market and more employees are coming into trade secrets than ever before. Because of this, more and more employers are asking their employees to sign non-competition agreements before they are hired to start working for them.
Real estate and commercial property contracts involve both private and public interests. This post will discuss the differences in the bidding process between a public and private contract. If you are a contractor that operates primarily with private companies and you are considering a bid for a government contract, you will want to modify your approach to ensure that you comply with all the prescribed rules. Conversely, if you are accustomed to working with government entities, you will want to relax your bid process because you are likely providing more information that necessary spending more money on the bid than your competitors.
Contracts keep the business world together. They ensure that each party holds up its end of the bargain and that transactions go smoothly. But what happens when a party on one side of the agreement decides to not to live up to the guidelines set forth in the contract? In legal terms, that's what's called a breach of contract. When that occurs, there are several ways in which the injured party can be made whole again.
Indemnification clauses are common in many leases. Indemnification clauses act as "poison pill" provisions to discourage unscrupulous property owners from shirking their obligations under the lease. Since they are such a prolific part of lease agreements, this pot will go over how indemnification clauses work and what they may mean for your leases.
Contracts are the bread and butter of the business. They enable companies to cooperate, exchange goods and services, and make a profit. That means, when a breach of contract occurs, the core building block of business has broken down. As discussed in a previous post, a breach of contract occurs when one party refuses to fulfill their reciprocal obligations under the contract. This post will go over alternative solutions once a breach occurs.