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In my blog on February 9, 2012, I terrified many of you by bringing to your attention the case of Allen v. Dackman, 991 A.2d 1216 (2010). In the Allen case, Maryland’s highest court, the Court of Appeals, held that an individual member of a Maryland limited liability company ... More
As seen on page 20 in the March/April 2012 issue of 270 Inc. Magazine. Introduction Do you operate a business such as a restaurant or bar, a retail store or even a farm that is involved in the agri-tainment business? Do you offer music to your customers, either as a subtle enhancement ... More
You might think that the Maryland statute was perfectly clear: Except as otherwise provided by this title, no member shall be personally liable for the obligations of the limited liability company, whether arising in contract, tort or otherwise, solely by reason of being a member of the limited liability company. The only ... More
You have agreed to go on the Board of a corporation that will be the general partner of a limited partnership. You know that the corporation, as general partner, owes fiduciary duties to the limited partnership and its partners. You also know that you, as a director, owe fiduciary duties ... More
Introduction There are several fundamental differences between team sport performers (“TSP”) and individual sport performers (‘ISP”). Representation of these athletes should reflect these differences. This three-part series will provide you with some background as to how ISPs and TSPs differ and how those differences play a key role in their marketing decisions ... More
Many people know that Delaware is the most popular jurisdiction in which to incorporate or to organize most forms of businesses. The reasons for Delaware’s advantages over other jurisdictions are hard to pin down. There is a general feeling that Delaware law is more modern or otherwise favorable to businesses ... More
While the value of protecting one’s intellectual property is often recognized in the world of big business, such protection is frequently overlooked by many small businesses. This article highlights the importance of intellectual property protection for small businesses. Trademark A trademark is a word, design, color or sound that serves as an ... More
Many businesses spend a small fortune building a brand identity around a logo or brand name before determining whether they can protect their logos or marks as trademarks. Without first determining whether they can protect their logos or marks as trademarks, businesses risk having their marks copied by competitors or ... More
On Sept. 2, six days before the statute of limitations would have run, the Federal Housing Finance Agency (the “FHFA”) sued 17 of the world’s largest financial institutions claiming they committed fraud in the sale of nearly $200 billion in mortgage investments to Fannie Mae and Freddie Mac. The lawsuit ... More
Partners are fiduciaries. But to whom? Are all partners in a partnership fiduciaries or just some of the partners? What about limited partners? What about joint venturers? Are these duties owed to creditors and other third parties? I will answer these questions in a general way in this blog, and ... More
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