Business litigation can be costly for all parties involved. Business litigation is oftentimes based on business torts or disputes that arise during the course of business related to partnerships, limited liability companies and closely held corporations. The failure of a member of a partnership, limited liability company or closely held corporation to honor their obligations associated with the entity to other members or the entity itself can give rise to business disputes and litigation.
The City of Miami has agreed to pay Hyatt Equities close to $4 million in a settlement resolving a maintenance disagreement. The business dispute between the city and Hyatt has been going on for years and was stopping the two parties from moving forward with their plans to redevelop the area.
When large companies enter into business together, both businesses are looking out for their own best interests. Sometimes this results in major disputes between the companies. Apple was in the news earlier this year for a battle with Qualcomm over licensing fees. Now, the iPhone maker is in the news again after another business dispute, this time with Nokia.
Generally, non-compete agreements are designed to prevent an employee from learning all the information a company has to offer and using the information they learn to help a new company. The purpose of non-compete agreements is to protect the company when they share proprietary secrets with employees. As a result, these agreements are the source of a number of business disputes in Florida.
Florida-based company Darden Restaurants, Inc. recently acquired Cheddar's Scratch Kitchen from Arlington. Darden's is a giant in the restaurant industry, owning major chains such as Olive Garden, LongHorn Steakhouse and The Capital Grille. When a purchase like this is made, companies often have to sign purchase and sales agreements to ensure that details of the sale, such as the purchase price, type of transaction, payment terms, liabilities and other critical information is documented. The final agreement will be binding and will be critical if the two parties ever end up in court to handle a dispute.
When two multi-million dollar companies engage in similar business dealings, it can be important for those companies to protect their individual interests. That is why many Florida companies have non-compete agreements in place to protect confidential information and make sure that their business continues to thrive and grow in the community.
Miami businesses will sometimes need to share certain information that could be considered delicate in order to move their business forward. This can have to do with designs, intellectual property and more. It is in these circumstances that it is necessary to have a non-disclosure agreement, also known as an "NDA." With an NDA, the business will protect itself when sharing this information when another party is using it. Theft of this information can result in business disputes, a breach of contract and a confidentiality agreement dispute. Protection is the order of the day with these cases and knowing when to have an NDA can avoid these problems, or be useful if it is violated and litigation is necessary. It is also important after the fact when the product might have been used illegally by the other entity.
The operative facts in Bartram are simple.1 Borrower executed a standard form mortgage in favor of the lender. The mortgage contained an optional acceleration clause and provided the borrower with a right to reinstate the mortgage after acceleration. The borrower defaulted. The lender notified the borrower of the default. The lender exercised its option to accelerate payments and commenced a foreclosure action. One day short of five years later, the foreclosure action was dismissed involuntarily against the lender pursuant to Florida Rule of Civil Procedure 1.420 (b).
Florida residents often take each other at their word. When someone else tells us something, we tend to believe that person is being honest and truthful in what they are saying. Unfortunately, this is not always the case, as others may be misleading in the statements they are making.