November 25, 2010 in Business, Legal Articles by jferris

All About Corporate Turnarounds

In today’s economic downturn, more and more businesses may be looking to alter their business models. Such a plan for change is often referred to as a corporate turnaround strategy.

With revenue streams suffering, it can be difficult to figure out what to do when your business is experiencing such disappointment. But with the few tips below, it is possible to develop a plan that will help you identify problems and alter the course of your business for the better.

1.            If your business is experiencing problems and feels like it is in freefall, the first step to take before you do anything else is to seek stabilization. Take a look at what assets are critical for the survival of both the company and its ownership and then protect and preserve those assets.

2.            Next, you need to undertake a lengthy and comprehensive identification period. You need to get back to finding out what your business is all about. What are the core values that your company holds? Who are your main customers, and are you continuing to provide them with goods or services that they want? What do you really stand for? Have you gotten away from your business principles?

3.            Once you have answered these questions, you need to make an honest list of the core problems with your business. Seek input from not only management, but staff, too. What processes are counterproductive? What uncritical functions need to be scaled back? Remove the excess. Perhaps layoffs need to take place. Perhaps entire departments need to be scaled back. If it doesn’t fit with the core values of your business, it probably needs to go.

4.            Put together an implementation plan for making these changes. Provide specifics on how these changes will be implemented. Develop a timetable for taking certain steps. Eliminate the chance of chaos by carefully explaining how the restructuring will take place.

5.            Now you are ready for the actual restructuring. It will be all-important to follow the specified steps in your implementation plan.

6.            Review your restructuring plan periodically and make updates and tweaks as necessary.

Undertaking a corporate turnaround can be a complex and stressful process. If your business is looking to complete a turnaround, it may also be helpful to hire a consult or an experienced corporate attorney who can offer a fresh set of eyes.

Anthony Spotora is a Los Angeles entertainment lawyer and Los Angeles business attorney. To learn more, visit Spotoralaw.com.

November 20, 2010 in Business, Legal Articles by jferris

Partnership Disputes – What Do We Do Now?

Individuals usually focus on building a successful business when they form a partnership, and sometimes fail to consider many of the bad things that can occur that can derail their new enterprise.

No marriage has ever survived without at least an occasional disagreement, and partnerships are no different. The question becomes what do you do when the inevitable dispute occurs? Do you get a partnership “divorce” or do you find a way to work around the disagreement?

Most partnership disputes involve one of the following issues: (1) partner compensation or expenses, (2) business expansion or contraction, (3) changes in a partner’s family or marital status that affects the partnership, (4) a desire by one or more partners to exit the business or (5) changes in economic conditions. Naturally, the first thing you will likely try to do when confronted with a partnership dispute is to try to talk things out. However, if you suspect your partner may have done something illegal or may have tried to take advantage of you, then you should talk with a lawyer who knows partnership law without delay.

Partners owe each other a fiduciary duty. That is generally the highest business duty that one person can owe to another. The Texas Business Organizations Code in conjunction with the partnership agreement often governs the rights and responsibility of each of the partners. If you are involved in a partnership dispute, make sure the lawyer you hire has a good understanding of the applicable statutes and that he or she is well versed in contract law. Also, ask your lawyer whether a quick injunctive action might be helpful. Sometimes the best way to avoid a protracted and expensive legal fight when a partnership dispute cannot be resolved is to seek a temporary restraining order or injunction from the court that will bring the central issues to a head.

As in any relationship, minor disagreements will occur between partners. Most of the time such disagreements can be resolved, but if you face a serious matter that you believe merits legal assistance, look for an experienced partnership lawyer that knows the law and will stand up for your rights.

Gregory D. Jordan is an Austin business attorney, Austin employment lawyer, and Austin business litigation lawyer. To learn more, visit Theaustintriallawyer.com.

November 20, 2010 in Business, Legal Articles by jferris

A new invention shakes Apple to the core

There’s a new device on the market that converts an iPod Touch into an iPhone. Apple says the brothers who invented it are copycats who are infringing on Apple’s patents.

There will always be people with bright and inquisitive minds who love to create and invent new things to make existing technology even better. This appears to be the case with two Chinese brothers, Pan Lei and Pan Yong. These two enterprising young men put their heads together and invented a device that craftily converts Apple’s iPod Touch into an iPhone. It’s quite the idea, and the marketplace hails it as being innovative.

On the other hand, Apple Inc. isn’t so thrilled with the invention and is suing the brothers for patent infringement, saying they are nothing but copycats. The problem might actually be that Apple is planning a similar device. At least, that is what a recently published patent application may indicate.

The bothers’ new product, dubbed the Apple Peel 520, is a case that includes a circuit board and battery. It wraps around the iPod Touch media player and lets the user make calls, once the appropriate software is installed. This particular device requires breaking into Apple’s operating system, but it is not considered to be a counterfeit iPhone, insisted the two brothers.

The Apple Peel is, according to the brothers, original and was the joint collaboration of Pan Lei, an interior designer and Pan Young, a software engineer. They launched their new company, Yosion Technology, with the Apple Peel as its flagship product.

While consumers might be thrilled to bits with this new development, Apple, based in California, is taking a rather dim view of the whole thing. The company is seeking a patent on comparable technology, thus the reason why they are so defensive in this latest patent infringement lawsuit. There is a lot of money at stake here given the existing iPod market – 220 million music players released since 2001.

Consumers will also like the price of the Apple Peel, pegged to be about $60, a far cry from initial guesstimates of what Apple’s product (when it’s developed) would cost. Initial speculation is that it may run around $830. What consumer wouldn’t jump at the chance to save $770?

This will be an interesting case to watch as it develops. The core of it will be whether or not the Apple Peel is a copyright infringement or something that takes existing technology even further by inventing something new to turn a product into something else.

To learn more about David Alden Erikson, Attorney at Law, visit Daviderikson.com. Mr. Erikson specializes in Los Angeles fashion law, internet law, business litigation, trademark and copyright law.

November 18, 2010 in Business, Criminal Defense, Legal Articles, Personal Injury by jferris

How To Choose A Personal Injury Attorney

Whether you’ve been injured in an automobile collision or been harmed by using a product that you have bought and used, you are going to need an attorney on your side.

In the Atlanta area, there are many professionals available to you, to be sure. But it is important that you choose an attorney who specializes in personal injury cases and who has the compassion, zeal and experience for the job. Personal injury accidents can be emotionally and physically demanding and the last thing you need to worry about is whether your lawyer will be working hard enough to secure the damages that you are seeking.

It is necessary that you act quickly and wisely in selecting someone to represent you to help you receive compensation for your injuries, lost wages, medical expenses, property damage and pain and suffering.

There are a seemingly endless number of lawyers who can represent someone and fight in court for their rights, but as a victim you need someone who takes your case as seriously as you do.

It may also be possible to secure punitive damages. Punitive damages, also known as exemplary damages, are awarded in cases where the defendant is deemed to have acted especially egregious or has a track record of taking the types of actions that have led to your personal injury. They are typically awarded by judges and juries.

With important compensation at stake, it is necessary that you secure the right attorney. Here are some tips for finding a good personal injury attorney:

-Ask for a referral from another lawyer you trust, from a friend or from a membership organization or state bar association.

-Make sure you interview your attorney during the initial consultation. Ask about his or her experience, whether or not the case will be taken on a contingent fee basis, whether he or she will be personally working on the case, how often you will receive progress updates on your case and anything else you need to know that will make you feel more comfortable with him or her.

-Select an attorney who specializes in your type of personal injury case. The more specific experience, the better.

-Ask for a written retainer agreement.

Robert Webb is an Atlanta personal injury lawyer with Webb & D’Orazio, a law firm specializing in Atlanta personal injury, malpractice, criminal defense, and business law. Learn more at Webbdorazio.com.

November 17, 2010 in Business, Criminal Defense, Legal Articles, Personal Injury by jferris

A Simple LASIK Surgery Can Lead to a Lifetime of Problems

Just about everyone these days knows someone who has had LASIK eye surgery. This popular surgical procedure to improve vision has worked wonders for many patients.

However, the flipside to the story is that some patients have dealt with lasting injuries brought on by negligence and malpractice from surgeons.

What is LASIK?

LASIK, which stands for Laser-Assisted in Situ Keratomileusis, is a procedure that was developed about 20 years ago to combat astigmatism, myopia and other common vision issues. The surgical procedure is relatively simple and is undertaken by cutting a flap in the corneal tissue of the eye before a laser is used to correct the visual condition.

Typically, any complications disappear within a couple of weeks of surgery. Unfortunately, this is not the case for some patients. These patients have to deal with long-term complications ranging from pain to dry eye to light sensitivity to, in some cases, blindness.

How do you know if you have legitimate malpractice suit? Many of the complications have arisen not because of a botched surgery, such as an errant cutting of the flap in the corneal tissue, but because of poor pre-surgical screening. Some patients simply should not have been allowed to receive the procedure.

For example, people with thin or cone-shaped corneas are not good candidates for LASIK surgery, yet some patients were still OK’d for LASIK.

Complications from LASIK surgery can lead to a lifetime of problems and “visual exhaustion.” Sometimes victims can have difficulty driving or working as a result. Sometimes it affects their personal and social lives, too.

If you or someone you know has experienced a serious LASIK surgery complication, you should seek the advice of an experienced Atlanta personal injury attorney who can help you seek justice for your injuries.

Robert Webb is an Atlanta personal injury lawyer with Webb & D’Orazio, a law firm specializing in Atlanta personal injury, malpractice, criminal defense, and business law. Learn more at Webbdorazio.com.

November 16, 2010 in Business, Legal Articles by jferris

Two Texas Cases: When Whistleblowers Get Fired

The Texas Whistleblower Act protects public employees from adverse retaliation who make good faith reports of violations of law to appropriate law enforcement officials. The following two whistleblower cases have recently been in the spotlight.

On Sept. 20, Glenda Spoon, a former Texas community supervision officer, filed a whistle-blower suit against 336th District Judge Laurine Blake, the Fannin County Community Supervision and Corrections Department (FCCSCD), Fannin County Criminal District Attorney Richard Glaser, and its director, Debra Roberts.

Spoon alleges she was terminated because her supervisors said she went outside the chain of command to report alleged violations of state law concerning certain probationers destroying legal documents and other illegal activities. In her original petition, Spoon stated that prior to her termination she never received any adverse employment reprimands or reports. However, on June 23, Spoon was told to resign or she would be terminated. Spoon allegedly refused to resign and was then immediately terminated. Spoon alleges that Blake, Glaser and Roberts worked together to silence her and deprive her of her civil rights. Spoon’s case is still ongoing.

Another case in Amarillo, which was recently resolved, involved two former road department employees, Kevin Bates and Joe Reynero. Bates and Reynero were fired in December 2004. They won their case (although Kevin Bates died in 2006) against Randall County in late October 2010. Bates and Reynero were fired after complaining to authorities that the road department was allegedly performing illegal dumping and allowing some of its drivers to operate vehicles without a commercial driver’s license. Mr. Bates’ widow has stated that now she hopes the department will issue an apology to her deceased husband.

Gregory D. Jordan is an Austin business lawyer; an Austin employment attorney andAustin business litigation attorney who has substantial experience representing whistleblowers and can advise them of their rights and options and help them receive compensation for lost wages, future wages and damages such as psychological and mental anguish.

Gregory D. Jordan is an Austin business attorney, Austin employment lawyer, and Austin business litigation lawyer. To learn more, visit Theaustintriallawyer.com.

November 15, 2010 in Business, Legal Articles by jferris

Carve Outs Can Be A Profitable Move

When one successful company merges with or acquires another successful company, the deal attracts a lot of attention, particularly when the players are big names in high-profile industries. The growth potential of each entity can be enormous.

But what can also be profitable are strategic “carve-outs,” which occur when assets are “scooped out” of an ailing company. You may be able to purchase just the piece of the company that you are interested in, or you may be able to buy the entire company and then sell off the assets that you don’t care to keep.

There is more inherent risk with carve-outs because you are dealing with something that is currently troubled financially. The flipside is that these assets often come at a reduced price.

When looking to purchase a carve-out, it is imperative to look at every piece of the company’s financial puzzle and be sure the asset can be turned around successfully. Thorough analysis is paramount.

Some of the questions you want to ask yourself:

-From the ground up, what problems did the asset or company face?

-What does the expense structure look like?

-How long will it take to make the necessary adjustments for the company or asset to become profitable?

-Is the risk worth the potential reward?

Just because an entire company or asset is not performing well doesn’t mean it is worthless. Perhaps the asset simply needs a shift in its business strategy or a minor restructuring of its finances to put it in the black.

When looking for a carve-out, the best bets are within industries that you have experience with or carry the potential for “synergy” with your current business. This can save a lot of money and make the deal more profitable in the end. For example, if you manufacture household goods, you would do best to purchase a product that can be easily integrated into your current operation. Because you are purchasing a troubled asset, it makes little sense to take more risks than necessary.

While companies seeking carve-outs usually look to their local competition, sometimes it makes sense to go beyond your own borders, too, particularly in today’s challenging economic climate. To stay competitive and to diversify in tough times, it may make sense to expand to a global market. Of course, that carries with it a whole host of added legal requirements.

If you are a company looking to “carve-out” a competitor’s assets, it is important to speak with an experienced attorney.

Anthony Spotora is a Los Angeles entertainment lawyer and Los Angeles business attorney. To learn more, visit Spotoralaw.com.

November 15, 2010 in Business, Legal Articles by jferris

Intellectual property is hard to define

Intellectual property is one of those things that generally defies description. Simply put, it’s about patenting a physical product so others don’t copy it.

Intellectual property is just one of those things that people have difficulty getting a handle on, particularly if it happens to be something they think ought to be patented but isn’t, or is patented but they think it shouldn’t be or wonder why it is. Confused? Join the crowd. This area of the law is circuitous at the best of times.

The easiest way to begin to explain what intellectual property is means laying out the concept that it’s a physical product that can be patented so that others can’t copy the design. From there, things tend to get a bit complicated when trying to protect ideas, a range, brand or piece of software. Usually, the best way to find out if you need to patent what you have is to consult with a Los Angeles business lawyer with extensive experience in this area; a lawyer with an IP background.

It might help to know that international law has methods in place to protect ideas and, in fact, that happened in 1967 when the World Intellectual Property Organization proposed that intellectual property protection included rights relating to things such as inventions in every possible field, performances, broadcasts, artistic and scientific works, literary works, industrial designs, service marks, commercial names, trademarks, designations, scientific discoveries and protection against unfair competition. It’s quite the laundry list, but it was intended to be as all encompassing as possible.

In retrospect, if you think you have a case of intellectual property infringement, you need to first figure out what kind of intellectual property you are trying to protect. This is because copyright also applies to books and scientific publications, artwork, broadcasts, performances by artists and phonograms. Phonograms are a phonetic writing system symbol for a speech sound, syllable, or other sequence of speech sounds.

You’ll find copyright protection also used in business deals when the property needing protection is something like a brand name or trademark, whose value lies in the information it provides to consumers in terms of product recognition. Another option you could discuss with your Los Angeles business lawyer is trademarking to protect brand wording.

The concept of intellectual property may apply to new inventions as well as new designs. For instance, if an invention is definitely unique (as in not a take-off of something already in existence), or advances some known technology even further, it’s quite possible to use patent law to protect the invention so others can’t copy it for the future.

The first thing to do when dealing with intellectual property laws when you don’t know which way to proceed is to ask questions. It’s better to hire a knowledgeable Los Angeles business lawyer than to thrash about in limbo and not know what you are doing. If you do it the wrong way, it may come back to haunt you later. Look at it this way, it’s your property, idea, invention, show, design, etc. and you want to protect it. Ask how to do that and save yourself some grief later.

To learn more about David Alden Erikson, Attorney at Law, visit Daviderikson.com. Mr. Erikson specializes in Los Angeles fashion law, internet law, business litigation, trademark and copyright law.