Security in ones’ property has been a fundamental tenant of our society since its inception. The Fifth Amendment enumerates this vital right and has served as a refuge against the government unjustly interfering with individual property rights for centuries. But, as judicial interpretation develops over time, a startling trend has emerged that could profoundly shape the future of the taking of private lands by the government. The landmark case of Kelo v. City of New London marked a radical shift in what could be construed as a legitimate taking based on a state’s police power. (1) This ruling has resulted in many states drafting new legislation in an attempt to temper the controversial ruling. (2) Regardless of how the legislature approaches the issue, it is clear that the takings landscape has fundamentally changed in ways that were unintended and unforeseen. Have we entered an age of disintegrating property rights? [More]

Someone might view the economic crisis times as the best period to broaden one’s business horizons and invest into a new market. The fast growing markets such as China, Brazil, India and to some extent Russia are waiting for new investors. Russia, having more than 140 million inhabitants, i.e. potential consumers, and abundant natural resources remains mostly neglected by investors in many business fields. For decades Russian market was viewed as not a place for those faint-of-heart. Now the growth of political stability and positive developments in legislation make the investment less risky and more attractive. Nevertheless, the still existing differences between local and internationally recognized legislative frameworks and court practices make investors wonder if there is any possibility to opt out of the Russian legal rules.
This article will explore the reasons behind Russian corporate norms that explain the inflexibility of current legislation and court practice and discuss views on future development of the corporate law system of the country. Part II introduces an overview of the policy issues behind the corporate law created specifically for Russia as a developing economy. Part III analyzes the legislation and its drawbacks, provides advice for investors who for various reasons want to opt out of Russian law. Part IV discusses the reasons for the government amending the corporate law, gives a forecast of future developments and provides a general conclusion. [More]

I. Introduction

In today's economical climate, the excitement of finding a new job can be overwhelming. Additionally, In the rush of starting work, it is easy to skim the fine print of a contract without fully understanding its terms. Non-compete agreements in employment contracts can cause much unnecessary and hardship on an individual once that individual chooses to switch jobs. Additionally, while it may seem unintuitive that an individual cannot use skills learned at one job to advance his career at another job, many companies rely on non-compete clauses to limit just that. This article will discuss the non-compete agreements generally, the history of non-compete agreements, and the legal standards state courts use in examining non-compete agreements. It will then discuss how to enforce and contest non-compete agreementsare. Finally, it will conclude by giving advice for the employer or employee who is unsure about how to approach a non-compete agreement. [More]

I. Introduction

Anyone who has considered starting a new business can attest to the excitement that comes along with being one's own boss, setting one's own hours, and turning a personal dream into reality. However, once the initial thrill wears off, the daunting task of ensuring enough preliminary funding and finding continued financing for the business can quickly turn this dream into a nightmare. This article will discuss the ways in which a small business can obtain initial funding and continued financing. First, it will stress the importance of creating a substantial business plan to which potential investors and sources of funding can look to learn about the business. Second, it will discuss debt options for funding and financing a business. Third, it will discuss equity options for funding and financing a business. Finally, it will conclude summarizing the options for funding for a start-up business and continued financing of a new business. [More]

I. Introduction

There are very few requirements for a business to be incorporated in a given state. The business must usually have a registered agent in that state, but rarely are there requirements to construct an office or actually engage in commercial transactions. [1] From the outset, it seems as though finding the best location to incorporate a business would be quite simple. This prediction, however, could not be farther from the truth. Finding the right place to "set up camp" is a long and crucial process; but if done properly, the initial research can lead to the creation of a business that uses state law to its advantage rather than demise. [More]

I. Introduction

Small business owners often take out an advertisement in a local paper or, more in line with the times, advertise on a website. The advertisement, however, can sometimes create liability for the business owner if the ad is found to be deceptive. [1] This article will discuss the different sources of the law regarding deceptive advertising and then generally describe what makes an advertisement deceptive. It will then explore the trends and adaptation of the law regarding web logs and advertising. In conclusion, this article will present considerations that a small business owner should take into account when deciding to post an advertisement. [More]

I. Introduction

Starting a franchise can be a lucrative business. However, franchising is also an expensive start-up venture and can have significant legal consequences if not done properly. This article will first define a franchise and discuss the different types. It will then discuss financing a franchise and the legal issues of starting a franchise. Finally, the article will conclude by discussing the best way to go about starting a franchise. [More]

I. Introduction

At first glance, it looks as though lawyers and entrepreneurs don't have much in common. The legal profession "offers a low-risk (if high-stress) means to a long, relatively well-paid, and tightly-controlled career at a privately-held law firm or government position." [1] The path of an entrepreneur, on the other hand, offers a high-risk means to a career with no guarantees or definite returns on investment. [2] Yet, more than ten percent of the CEOs in the Forbes 500, a list of the 500 largest public companies in the United States, are former lawyers. [3] How did this happen? According to Gregg Engles, former lawyer and current CEO of Dean Foods, Inc., the discrepancy is simple. [4] "Many lawyers let knowledge of risk paralyze them. They focus exclusively on risk, while entrepreneurs focus primarily on opportunity. The person who can simultaneously perceive the opportunity and the risk has a competitive advantage." [5] [More]

I. Introduction

Franchises are a strong component of the U.S. economy. In 2004, there were over 767,000 franchises in the United States which contributed 9.8 million direct jobs to the economy. [1] According to a 2002 study, half of the franchise agreements analyzed contained arbitration clauses. [2] With the passage of the Federal Arbitration Act and subsequent court rulings, a policy favoring arbitration has been established. [3] In fact, most courts will enforce arbitration clauses in a majority of the cases. [4] In contrast to this trend, both congressional legislation and court decisions have been seen to back away from an unwavering support of pre-dispute arbitration. Should the courts and congress become more involved in the use of arbitration in the context of a franchise relationship? [More]

I. Introduction

For an entrepreneur, starting a new business can be a fulfilling venture. However, if the company and its assets are not properly protected, the risks that come along with such an endeavor can prove to be costly. This article will first discuss the agency issues that arise in a litigious society. It will then explain the process for retaining liability insurance. Finally, it will conclude by suggesting some simple ways a new business owner can ensure he or she will receive maximum liability protection. [More]