The troubled Bally Sports network filed Chapter 11 bankruptcy on March 14 in the U.S. Bankruptcy Court for the Southern District of Texas. This news was unsurprising after it first missed a $140 million payment on its $9-plus billion debt. The missed payment and...
Commercial real estate ownership options
Commercial real estate (CRE) investing is something that many look at when they diversify their portfolio. Typically involving large sums of money, it is common for investors to look at real estate investment trusts (REITs) or fractional ownership with a group. The...
Should you include your adult children in your estate planning?
Many parents, particularly those close to their adult children, feel inclined to rely on them and welcome their participation and input in their lives, especially with sensitive matters like estate planning. Some adult children appreciate this closeness with their...
Third-party collections may be an option
No matter how carefully they construct their credit application, businesses will sometimes find that customers, contractors or business partners do not pay their bills on time. The debtor may explain to the creditor that they are behind because business is slow, they...
It is time to update trade secret protections
President Biden signed the Protecting American Intellectual Property Act (PAIP) into law in early 2023. Lawmakers drafted it to protect American businesses from theft by foreign entities. The law tasks the White House with notifying Congress of major foreign companies...
Effective credit applications make a difference
Credit applications are often the lifeblood of a business, enabling them to work with vendors, other companies and customers. These legal contracts outline the terms of payment and better ensure that credit is extended to the appropriate parties. Still, one that goes...
7 options for financing a business
Many great business plans wither on the vine because there needed to be more financing. It may become apparent at some point that there needs to be an infusion of capital to enable it to endeavor to meet its potential. There are different options when seeking...
Should I add an arbitration clause to my business contracts?
Business professionals who are familiar with litigation know that going to court for a breach of contract or disagreement with an opposing party can be lengthy, costly and inefficient. Many contracts these days include an arbitration clause, which requires the parties...
What if a real estate transaction involves an easement?
Real estate with an easement is not unusual and can be an excellent investment. Still, the buyer should understand exactly how the easement affects the value before closing the sale. An easement is a legally binding agreement that allows non-owners or non-occupants...
Personal guarantees make a difference when collecting a debt
Binding contracts are a cornerstone of every successful business. They stipulate the goods, services, delivery date, and cost. They also should include various clauses, including what happens if the customer does not pay their bill. Some go a step further in asking...