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VirnetX awarded damages in infringement lawsuit against Apple

When one business in Texas, or elsewhere, violates another’s rights, patents or contracts, it may be considered infringement. This may lead to lost revenue, which may have a significant impact on a company’s bottom line. Consequently, this issue is at the heart of many business disputes. Often, businesses will take legal action in order to obtain compensatory damages.

What is a fiduciary duty?

There are some business relationships in Texas, and elsewhere, which may impose legal requirements of care and loyalty. These requirements may be referred to as a fiduciary duty. According to the Cornell University Law School’s Legal Information Institute, a fiduciary duty is a legal responsibility to act solely in the interests of another person, group or business. Failing to uphold these duties may be considered a breach of your fiduciary duties, which may lead to a business dispute.

What elements should you include in your partnership agreement?

As was discussed in a previous post, disputes sometimes arise between business partners in Texas, and elsewhere. Perhaps one of the easiest ways for you to prevent these types of issues from affecting your business is to establish a solid partnership agreement. In order to ensure that your business is able to withstand the inevitable ups and downs of your relationship, there are certain elements, which you should ensure are included in your partnership agreement.

How to avoid partnership disputes in Texas

As is the case with any close relationship, disputes often arise between business partners in Texas, and elsewhere. When this happens, it can significantly affect business and, sometimes, may have an adverse effect on your bottom line. At The Jackson Law Firm, people often ask us how they can avoid partnership disputes. As such, we will discuss some tips for how to handle disagreements between business partners.

Protecting intellectual property in Texas

The term intellectual property covers a wide range of creations. These may include artistic and literary works; inventions; and images, names and symbols that are used in business dealings. Failing to adequately protect such creations of the mind, however, may cost people in Texas, and elsewhere, the opportunity to capitalize on their work. In fact, the STOPfakes.gov website reports that the sale of counterfeit goods cost companies across the U.S. between $200 billion and $250 billion each year. In order to avoid such losses, and potential business disputes, it is important for business owners to understand how to protect their intellectual property.

Business dispute arises between soda companies over use of a word

Many business owners in Texas, and elsewhere, are aware of the importance of logos, color use and branding when it comes to consumer recognition. If a company’s competitor uses similar slogans, logos or colors to market its products, it could confuse customers and take potential business away. Sometimes, business owners will admit their mistake and change the logos or colors. Should companies refuse, however, it could lead to business disputes.

What happens when a company copies your trademark?

Developing goods or services that allow you to provide unique offers to consumers is an important part of growing your business in Houston, Texas. To protect these from other businesses and maintain your niche in the marketplace, you can file for a trademark with the U.S. Patent and Trademark Office. If another company creates a similar mark or brand that leads customers to believe they are getting your product or service, that company could be guilty of trademark infringement, which is unfair competition and is against the law.

What are deceptive trade practices?

Like other business owners or marketers in Texas, you may make grand assertions about the effectiveness of your produce or the quality of your services. While this is not generally a problem, business disputes may arise if you are overly deceptive in your claims. As a result of false advertising, you could face drawn out business litigation, which may adversely affect your bottom line.

Appropriate times to withhold payment from a subcontractor

It’s always in a company’s best interests to adhere to the terms of a contract, especially when it comes to payment. Failure to pay someone for the work or service they do can result in business litigation. This can include Houston business owners who don’t pay fair wages to their employees and subcontractors. It also pertains to the payment terms outlined in a contract between a business and a subcontractor company.

How is executive compensation typically structured?

In the corporate world, the many terms and procedures of a contract can be confusing and daunting even for the most seasoned professional. Whether you are an executive or the company owner, it can help to go over the terms of an employment contract with a business attorney who has experience in executive compensation.

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