CIFG Breach of Contract Claims Upheld Against Goldman Sachs

Goldman Sachs Group Inc. fails in its attempt to have breach of contract claims brought against them by CIFG Assurance North America dismissed. The lawsuit is over $275 million in mortgage-backed securities that it insured.

The suit was filed by CIFG last August. CIFG alleges that Goldman Sachs knowingly sold risky mortgage bonds to get them off its books.

Though New York Supreme Court Justice O. Peter Sherwood dismissed come of the fraudulent claims included in the lawsuit, the judge refused to dismiss three of the breach of contract claims. CIFG is seeking compensation for claims, as well as buy-backs of non-performing loans.

If you own a business, then you understand the risks associated with running it. A breach of contract dispute can arise over just about any contractual issue. That is why you should take every measure possible to eliminate the risk of a breach of contract dispute.

Part of that process includes utilizing the legal services of an experienced business litigation attorney. The Ferguson Law Group has helped countless businesses avoid litigation by helping them draft and execute business contracts. We know what to look for.

We have also helped many small business owners negotiate and mediate breach of contract disputes. We will work hard to help you avoid costly litigation and find an amicable resolution to your unique dispute.

If you are the victim of a breach of contract or facing a breach of contract dispute, you should call one of our Dallas business litigation attorneys at the Ferguson Law Group at (972) 378-9111.

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Boeing May Face Rehearing Over Breach of Contract Dispute

ICO Global Communications is requesting a new hearing concerning its $603 million breach of contract dispute against Boeing Co. ICO Global is requesting the new hearing following a California appellate court’s decision that reversed the multi-million dollar verdict.

About the petition

The petition, which was filed on Monday, April 30, 2012, claims that ICO Global’s due process rights were violated after two 2nd District Court of Appeal Justices recused themselves one after the other after months of arguments. There was no indication as to why the justices disqualified themselves.

ICO Global claims that the eventual new justice lacked inadequate time to review the case. They have also raised the possibility that the recused justices may have influenced the decision-making process. The communications company is requesting the new hearing before a new panel of justices.

Avoiding your own breach of contract dispute

Breach of contract dispute litigation is not only messy, but time consuming and expensive. Ensuring that your contracts are drafted and executed properly is key to avoiding a breach of contract dispute.

How we can help

The experienced team at the Ferguson Law Group has helped countless business owners through the process of drafting and executing business contracts. We have also helped many businesses navigate through the complex process of a breach of contract dispute.

Our Dallas business litigation attorneys understand the stress associated with disputes. That is why we do everything possible to minimize the disruption your legal matters can cause and help you reach a resolution you are satisfied with.

If you feel that you have been wronged or if you are facing a breach of contract dispute, you should call one of our Dallas business litigation attorneys at the Ferguson Law Group at (972) 378-9111.

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Five Tips to Making Solid Business Contracts

Ensuring that your business contracts are drafted and executed properly can save you time and money, as well as help you avoid a breach of contract dispute. Here are five tips to consider before entering into any type of business contract:

  1. Put everything in writing. Many oral agreements are legal and binding; however, it can be very difficult to enforce those agreements in court. Though this may be Business 101 to you, it’s a great reminder that no matter how small the agreement or concession is, make sure that everything is put in writing.
  2. Identify and deal with the decision maker. Many business owners waste valuable time by negotiating with junior employees who, at the end, have to take everything to their superiors. Identify who the decision maker is and only negotiate with that person.
  3. Specify all the details. Once you sign a business contract you are legally bound to the terms and conditions contained within it. Take extra time to consider all the potential variables and situations that can arise, such as payment obligations, circumstances that could terminate the contract and how any disputes will be resolved.
  4. Make it simple. Business contracts do not have to include a lot of legalese to be enforceable. Make your contracts simple and easy to understand.
  5. Speak with a business transaction attorney. The last thing you have time for is a breach of contract dispute. At the Ferguson Law Group, we are experienced in drafting business contracts and can help you ensure that your business contracts are solid and enforceable.

If you are looking to enter into a business contract or facing a breach of contract dispute, you should call one of our Dallas business attorneys at the Ferguson Law Group at (972) 378-9111.

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What You Should Know About Negotiating and Signing a Commercial Lease

Avoiding a commercial real estate dispute is critical. Unfortunately, many business owners don’t understand the process and what they are getting themselves into when they enter into a commercial lease.

The basics of what a commercial lease does

A commercial lease is a contract in which:

  • You agree to pay rent for a said period of time.
  • You agree to adhere to any conditions and/or restrictions outlined in the lease, such as use of space and signs.
  • You are allowed to occupy the premises for a said period of time.
  • Identifies what, if any, modifications that your landlord will make to the premises.
  • Identifies what amenities, such as parking, that your landlord will provide.

There are no standard leases

No matter the type of form a potential landlord will produce, there are no standard leases in commercial real estate. There is always room for modification to any form utilized.

Everything is negotiable

One of the key principles to understanding real estate is that everything in negotiable. Don’t be afraid to ask.

Determine the meaning of lease clauses

Most commercial leases include clauses and are full of legalese. You will want to decipher your lease agreement in its entirety before signing it. Failure to do so can result in a commercial real estate dispute.

At the Ferguson Law Group, we can help you understand all the details and meanings of what is included in your lease agreement. Our goal is to ensure that your commercial lease agreement does not end up in a dispute and/or litigation.

If you are looking to enter into a commercial lease agreement or facing a commercial real estate dispute, you should call one of our Dallas commercial real estate attorneys at the Ferguson Law Group at (972) 378-9111.

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Negotiating or Mediating Your Landlord-Tenant Dispute

It’s almost always better to settle your commercial landlord-tenant dispute directly with your landlord. It’s oftentimes cheaper and quicker. However, in certain situations litigation is inevitable.

Negotiating your landlord-tenant dispute
Litigation over landlord-tenant disputes can prove costly and time consuming. If you are like most small business owners, you don’t have time for a legal battle. Here are five pointers to resolving your landlord-tenant disputes:

  • Determine ahead of time your desired outcome. Before meeting with your landlord, you need to determine what you want to happen, what your bottom line is and where you are willing to compromise.
  • Meet with your landlord in person. We have become so dependent on electronic communication. It’s often easier to reach an amicable solution when you meet face to face. Pick a quiet time and place in a neutral location.
  • Don’t get personal. You should avoid making personal attacks against your landlord. Though you should not appear weak, you should focus on being courteous. This can go a long way in the negotiation process.
  • Empathize with your landlord. Put yourself in your landlord’s shoes. Consider how you would negotiate the dispute if the roles were reversed.
  • Speak with an experienced attorney. Unfortunately, your relationship with your landlord may be so strained that reaching a mutual agreement could be impossible without legal action. An experienced Dallas commercial litigation attorney can advise you on your rights and the best course of action.

How we can help
The Ferguson Law Group has helped many business owners negotiate and mediate their landlord-tenant disputes. Our goal is to help you reach the best possible outcome for your business.

If you are facing a landlord-tenant dispute, you should call one of our Dallas commercial litigation attorneys at the Ferguson Law Group at (972) 378-9111.

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J.C. Penney Sued for $40M over Breach of Contract Dispute

A breach of contract dispute can arise over just about any issue. It can prove to be costly and time consuming, such as with the case between J.C. Penney and a visual marketing firm.

J.C. Penney Sued for Breach of Contract

New York-based Hudson + Broad Inc., a visual merchandising firm, has filed a suit in New York against J.C. Penney alleging breach of contract and misappropriation of trade secrets. They are seeking $40 million—$20 million for compensatory damages and $20 million in punitive damages, from J.C. Penney.

Large square Plexiglas LED light displays are at the center of the controversy. According to the plaintiff, J.C. Penney had agreed to purchase 1,800 of the proprietary displays and install them in stores across the country.

According to Hudson + Broad, the department store giant notified them on April 3, 2012, that it would be outsourcing the production of the displays to another company.

Protecting your company

Protecting your company from a similar breach of contract dispute is paramount to the viability of your company. It is imperative that all your business contracts, whether with manufacturers, distributers or vendors, are drafted properly. Any mistake can lead to costly litigation.

How we can help

The Ferguson Law Group has successfully handled all phases of contract dispute resolutions. We have also helped countless businesses in creating contracts in order to avoid breach of contract disputes. Even if you are currently facing a breach of contract dispute, whether you are the plaintiff or the defendant, we can help you every step of the way.

If you are involved in a breach of contract dispute, you should call one of our experienced Dallas business litigation attorneys at the Ferguson Law Group at (972) 378-9111.

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The Basics of a Dallas Corporation

Forming a corporation is one of the first steps to creating a business. Understanding the distinctions of liabilities between a Texas entity and an individual is a key consideration when deciding to form a corporation.

What is a corporation?

A corporation is a legal entity that can be formed by anyone in Texas. A corporation is granted separate privileges and liabilities from its members and shareholders. When you create a legal entity, the actions made by the corporation are considered executed by the entity and not by an individual person.

What are my advantages?

There are many advantages to forming a corporation, including:

  • Limited liability for your business’ debts and/or judgments
  • The ability to deduct the cost of benefits your company offers employees and officers
  • Many tax benefits not offered to individuals

What are the key characteristics of a corporation?

When creating a legal entity, you should be aware of the five basic characteristics of a legal entity, which include:

  • Limited liability
  • Management centralized under a board structure
  • Legal personality
  • Corporate shares
  • Structured ownership by those who contribute capital

How can a Dallas business attorney help me?

There are also many disadvantages to forming a corporation. The Ferguson Law Group has advised and helped many individuals in understanding the advantages and disadvantages of creating a legal entity. We can help ensure that your specific corporation is the right one, created properly and offers you the proper protection under Texas law.

If you are looking to create a corporation, you should call one of our Dallas business attorneys at the Ferguson Law Group at (972) 378-9111.

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Non-Compete Clauses in Texas Employment Contracts

The future success of your business lies in the ability to protect your company’s trade secrets and confidential information. To ensure this protection, many business owners include non-compete clauses in their employment contracts.

What is a non-competition clause?

A non-compete clause is the portion of an employment contract that prohibits an employee from working for a rival business. If created properly, it will also prohibit an employee from starting a business that will directly compete with yours.

Who should I have sign a non-compete clause?

High-level and key employees who have access to your company’s confidential information should be asked to sign a non-compete clause. These are employees who:

  • Have access to contact information regarding your clients, suppliers, distributers and partners
  • Perform duties in your product and research development department
  • Perform duties in designing and engineering
  • Engage in creative work responsibilities, such as trademarks, copyrights, advertising and promotions
  • Oversee production and manufacturing

Who should I not ask to sign a non-compete clause?

Since non-compete clauses are designed for high-level employees, not everyone in your company should be required to sign one, such as:

  • Cleaning crew
  • Customer service staff
  • Administrative staff

Should I have my attorney draft my non-competition clause?

In truth, you should consult with an experienced Dallas employment lawyer when drafting all of your employment contracts, whether they have a non-compete clause or not. An attorney can help you ensure that your company’s confidential information is protected from any rivals.

The Ferguson Law group can help you draft a non-compete clause for your employment contracts. We will ensure that these policies not only comply with Texas law, but are also enforceable.

If you are looking to include a non-compete clause in your employment contracts, you should call one of our experienced Dallas employment lawyers at the Ferguson Law Group at (972) 378-9111.

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Speak to a Dallas Employment Attorney Before Making Termination Decisions

Owning your own business comes with the great responsibility of making tough decisions. One of the biggest challenges employers face is having to terminate an employee. You could end up with a Dallas employment dispute over a wrongful discharge, which could prove to be time consuming and costly.

Why you should speak with an attorney

Making the decision to fire an employee is no small matter. Though there are many scenarios where you might be able to handle a termination situation on your own, there are many reasons why you should consider speaking with an experienced Dallas employment attorney before terminating someone’s employment. These reasons include:

  • Employment law changes all the time. What is acceptable today may not be tomorrow.
  • A former employee could file a lawsuit against you.
  • You might not understand fully the provisions included in your employment contracts.

Common questions employers ask

You are not alone. Business owners are faced with the tough decision of firing employees on a daily basis. Here are some of the most common questions that employers must answer:

  • Can I fire an employee for any reason?
  • Do I have to provide a severance package?
  • Should I contest a claim for unemployment?
  • What should I tell any prospective employers that call for a reference?

How an attorney can help

If you are like most business owners, you don’t have the time and the resources to face an employment dispute alone. That is why you should call the Ferguson Law Group. We can help you determine your risks before letting an employee go. Our goal is to protect you and your business.

If you have questions about firing an employee, you should call one of our Dallas employment attorneys at the Ferguson Law Group at (972) 378-9111.

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How Long Will Your Dallas Copyright Last?

A copyright will help protect your work of art or literature and prohibit your competitors from using it. However, it is important to understand what category your copyright falls into and how long it will last.

Understanding copyrights

For starters, it is important to understand what a copy right is and what it protects. A copyright is a legal device that protects a work of art or literature, which contains information and/or ideas. It ensures that the author maintains rights concerning:

  • Reproduction
  • Distribution
  • Adaptation
  • Performance and display

How long copyrights last

Depending on what category your copyright falls into will determine how long your copyright will last. Any works published before 1923 are considered public domain and not eligible for copyright protection.

Any copyrighted works published after 1977 will last for the life of the creator plus an additional 70 years.

Any work that is created in the course of employment or specifically commissioned is considered a “work for hire” work. The copyright will last between 95 and 120 years. The time period will be determined by the date the work was published.

Lastly, any works published between 1923 and 1977 are protected for 95 years from the date the work was published. However, if the work was created but not published before 1978 and is copyrighted, it will be protected for the life of the creator plus an additional 70 years.

Getting your works copyrighted

The most important thing that you need to know is that your creative works need to be protected. At the Ferguson Law Group, we are experienced in helping businesses copyright their work. We can help you.

If you are looking to protect your work though a copyright, you should call one of our Dallas intellectual property attorneys at the Ferguson Law Group at (972) 378-9111.

 

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