Content Related To 'Business Law'

Anti-Trust and Trade Regulation

Lea en español Antitrust and the Regulation of Trade in the United States In the United States, both state and federal statutes seek to protect free trade by prohibiting activities that constitute an unlawful restraint, including price-fixing and the establishment of monopolies. The Sherman Antitrust Act The Sherman Antitrust Act was passed in 1890, to […]

Antitrust Basics Transactional Lawyers

by Kay Lynn Brumbaugh The word “antitrust” often conjures up visions of competitors fixing prices in smoke-filled back rooms or, more recently, posh hotels in exotic locations in a Matt Damon movie.While such meetings certainly occur and price-fixing offenses are aggressively prosecuted, there are other less obvious, but risky, antitrust issues that arise in traditional […]

Shareholder Liability : Piercing the Corporate Veil

Lea en español Generally, in a corporation, shareholders are not personally liable for the acts of the corporation. However, shareholders may be personally liable if a court determines that the organization ignored corporate goals and formalities and acted to further the interests of one or more shareholders. Courts will intervene if injustice results after shareholders […]

Derivative suits against corporations

A derivative suit is one in which shareholders of a corporation sue the directors or officers for a failure of proper management. The suing shareholders are considered to be acting on behalf of the corporation because management has committed fraud or failed to protect the company’s interests. Some states require the shareholder to have been […]

Types of Corporations

Lea en español The three types of corporations are class C corporations, class S corporations and close corporations. Class C, or general, corporations are the most common and are allowed an unlimited number of shareholders. Additionally, the income of a C corporation faces double taxation. First, the corporation pays income tax, and then shareholders pay […]

Types of Partnerships

Lea en español The three main types of partnerships are general partnerships, limited partnerships and limited-liability partnerships. A general partnership may be formed expressly with a written agreement or, in some states, implicitly from the conduct of the parties. All partners in a general partnership are personally liable for acts of the other partners. A […]

May 15, 1911: The Supreme Court rules that Standard Oil violated the Sherman Anti-Trust Act

In 1902, the attorney general filed suit to break up Standard Oil, which not only controlled oil refineries but also took advantage of the railroad industry’s weakened status by demanding low transport rates for the oil in exchange for continued business. On May 15, 1911, the Supreme Court ruled that Standard Oil violated the Sherman […]

Contracts for Freelance Services

Lea en español An important action that freelance service providers and business owners can take for protection is to create a contract for every client. Specific information about fees, services and expectations can improve business relationships. Clients should be sure they read, understand and sign the contract before receiving services. Business owners are not required […]

Joint Ventures

Lea en español For individuals or businesses that want to share resources or potential rewards, but don’t want to enter into a long term partnership, a joint venture allows parties to move forward without the necessity of a merger or acquisition, or the creation of a new legal entity. What is a Joint Venture? A […]

Nonprofit Organizations

Lea en español Under federal and state laws, you can enjoy certain benefits by setting up a business as a non-profit. To qualify, you must meet certain criteria—all profits must either be put back into the business or distributed to a qualified recipient under non-profit laws. Although employees may be paid wages, a non-profit cannot […]