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February 2017 Archives

So long, farewell: Closing your LLC or corporation

All good (and bad) things must come to an end. Whether you have decided to close your business because you are struggling financially or you are simply ready to retire and relax for a while, you may not be aware that there are certain steps to follow to legally dissolve your LLC or corporation.

California Debt Collection: What Creditors Need to Know Before Settling Their Claim

debt-settlement.jpgIn many debt collection cases, the outstanding debt is settled before any court judgment is actually entered against the debtor. In an ideal world, this would be an unquestionably positive outcome for creditors. After all, debt collectors are simply looking to recoup the money to which they have a legal claim. Unfortunately, in reality, sometimes debtor parties do not follow through with the terms of debt settlement agreements. Further, if the settlement process is not handled properly, creditors could find themselves in an undesirable situation. Indeed, creditors could even lose important legal rights. Before settling a major outstanding debt, you should first consult with an experienced San Jose commercial debt collection lawyer.

Supreme Court Rules for Samsung in Major Patent and Copyright Infringement Case

smart-phone-lawsuit.jpgThe Supreme Court of the United States has ruled in favor of Samsung in their dispute with Apple. The case involves allegations of both patent and copyright infringement. This decision, which was unanimous (8-0) overturns a lower court ruling that had awarded Apple more than $390 million in damages. At this stage, the case will now go back down to a Washington D.C. federal appeals court for reconsideration on the issue of damages.

Bouncing back after small business bankruptcy

It may not feel like it's a good thing, but filing for bankruptcy seemed like your only choice when your business began to fail. You may now be wondering if you should look for a retail job or try running your own business one more time. The truth is that rebuilding a business after bankruptcy is not easy, but it is also not impossible if you are willing to do the work.

Protecting your personal assets from your business creditors

Owning your own business was a long-time dream, and you made it come true. Nevertheless, you probably felt nervous about the amount of money at risk, particularly if you took out loans to get things started. Perhaps your spouse expressed concern that, if anything should go wrong with the business, the creditors would take the house and the personal bank accounts.

New Changes to California's Equal Pay Law

equal-pay.jpgLast month brought two new important changes coming to the California Equal Pay Act. As with all employment law regulations, companies operating within the state must ensure that their firm is in full compliance with this law. This means understanding and conforming to the new aspects of the law. Further, it is critically important that your company has good relations with its workers and that you have well-drafted employment contracts that will protect you from liability. If you have any questions or concerns about how California's employment law changes will impact your company, please contact our experienced San Jose business law attorneys today to discuss your case.

American Apparel Files for Chapter 11 Bankruptcy, Again

chapter-11.jpgIn October of 2015, the Los Angeles-based clothing brand American Apparel filed for Chapter 11 bankruptcy protection. By February 2016, the company had exited bankruptcy and was hopeful for the future. This occurred after the company got its creditors to approve its $230 million reorganization plan. The plan swapped large amounts of debt for equity. Unfortunately, less than a year later, it appears that the restructuring plan was inadequate to meet the financial challenges facing the company. According to Bloomberg news, American Apparel has once again filed for Chapter 11 protection.