If the parties consent to arbitration, they decide to settle their dispute outside the confines and strict procedure of courtrooms. That said, arbitration awards are not automatically court judgments just because they resolve legal claims. On the contrary, arbitration awards are just contracts between parties and are not independently enforceable…
In California, business enterprises can take many forms (LLCs, corporations, partnerships, etc.). But perhaps the most unique is the “joint venture,” a special entity that, more often than not, is imposed by courts as a matter of law. This is because a joint venture is simply an “undertaking by two…
The way a business is conducted depends on the entity used to conduct it. There are several entities one can form in order to conduct a business. One common entity used to conduct a business is a partnership. The formalities for creating a partnership are dependent on what type of…
No. In California, individuals often hide behind “corporations” that consist of a single shareholder. In so doing, they protect themselves from liability by utilizing a corporate form. This can be especially frustrating in lawsuits. Often, a plaintiff will receive a judgment in their favor, only to find the corporation they’ve…
General partnerships, and their “joint venture” cousins, are composed of partners seeking to make a profit in a business venture. But things don’t always work out. Often, a once promising endeavor breaks down due to mismanagement and miscommunication. In these situations, partners may feel the urge to get out with…
Yes. While joint ventures are a distinct type of business entity, they share many similarities with general partnerships in California. In fact, “the resemblance between a partnership and joint venture is so close that the rights as between adventurers are governed by practically the same rules that govern partners.” (Milton…
Shareholder derivative suits are lawsuits that allow and assist shareholders in bringing legal action against the board of directors or officers in a corporate entity for illegal action. Read on to find out about the relationship between shareholders and derivative suits. What is a shareholder? Shareholders are everyday individuals who…
At some point or another, it becomes necessary to have “the talk” and “define the relationship” within a business. While the thought of defining business roles may make some people nervous, not having a conversation is a source of even greater anxiety when the relationship involves an investment, business venture,…
Who is Marcus Underwood Law Firm, P.C.? This blog is a next-generation law firm designed to solve modern-day legal problems in greater Sacramento and Northern California by combining new technology with an old-fashioned focus on your legal most difficult and complex legal problems. What does this Blog Cover? This blog…