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The Benefits and Limits of Domestic Asset Protection Trusts

By | Published July 3, 2024 | Posted in Business Law | Tagged Tags: , , , | Leave a comment

Domestic asset protection trusts (DAPTs) are sophisticated legal tools designed to protect an individual’s assets from creditors and potential lawsuits while allowing the individual to retain some benefits of the assets. While traditionally, asset protection trusts were established offshore, DAPTs offer a domestic alternative with certain advantages and limitations. These are the principal purposes of Read More

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How Businesses Can Make Effective Use of Strategic Partnerships

By | Published June 26, 2024 | Posted in Business Law | Tagged Tags: , , | Leave a comment

Strategic partnerships are alliances between businesses designed to achieve objectives that would be difficult or impossible to accomplish independently. These partnerships can take various forms, such as joint ventures, licensing agreements, or co-marketing arrangements. The value of strategic partnerships lies in leveraging each partner’s strengths to create a synergy that drives growth, innovation and competitive Read More

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What Goes Into Due Diligence in a Business Purchase?

By | Published June 19, 2024 | Posted in Business Law | Tagged Tags: , , , | Leave a comment

Conducting due diligence is a critical process in mergers and acquisitions (M&A). It consists of the buyer’s meticulous evaluation and analysis of a business or asset before signing a contract. The primary purpose of due diligence is to enable buyers to gain a clear understanding of the target company’s assets, liabilities, operations, financial performance and Read More

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Implications of the FTC Ban on Noncompete Agreements

By | Published June 12, 2024 | Posted in Business Law | Tagged Tags: , , | Leave a comment

A noncompete agreement is a contractual term between an employer and an employee that restricts the employee’s ability to work for a competing business or start a competing business within a certain geographic area and time frame after leaving the employer. In April 2024, the Federal Trade Commission (FTC) announced a final rule banning noncompete Read More

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What is Tortious Interference and What Are its Consequences?

By | Published June 5, 2024 | Posted in Business Law | Tagged Tags: , , , , , | Leave a comment

In the competitive world of business, unfair and disruptive tactics can sometimes come into play. Fortunately, there is a legal cause of action by which businesses can protect themselves from such conduct, allowing them to seek compensation for financial losses caused by what is known as tortious interference. Simply put, tortious interference is a civil Read More

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Why Every Closely Held Company Needs a Buy-Sell Agreement

By | Published May 29, 2024 | Posted in Business Law | Tagged Tags: , , | Leave a comment

You and your partners have poured years of blood, sweat, and tears into building your closely held business. It’s thriving, and the future looks bright. But what happens if one of you decides to leave, becomes disabled, or passes away unexpectedly? Without a plan in place, this unforeseen event could throw your business into disarray. Read More

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Common Issues Arising Under Construction Contracts

By | Published May 22, 2024 | Posted in construction law | Tagged Tags: , , | Leave a comment

Construction projects are intricate undertakings, and even the most meticulous plans can encounter unforeseen issues. These challenges often surface in the form of disputes arising from the contract itself. Here are some common sticking points and methods for dealing with them. One frequent source of contention stemming from construction contracts is whether the work was Read More

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The Cornerstone of an LLC — a Strong Operating Agreement

By | Published May 15, 2024 | Posted in Business Law | Tagged Tags: , , , | Leave a comment

A limited liability company (LLC) is a highly advantageous form of business organization. Like a partnership, members join forces to achieve a common goal. But unlike a traditional partnership, LLC members benefit from a shield — they’re generally protected from personal liability for the company’s debts. The key to a smoothly functioning LLC lies in Read More

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Finding the Right Legal Partner for Your Small Business

By | Published May 8, 2024 | Posted in Business Law | Tagged Tags: , , , | Leave a comment

Running a small business is an exciting endeavor, but it also comes with its fair share of challenges. One critical aspect that can often be overlooked is the importance of legal counsel. While legal fees may seem like an unnecessary expense, having an attorney on your side can prevent costly mistakes and navigate complex situations Read More

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Why Your Company Needs a Comprehensive IP Strategy Plan

By | Published May 1, 2024 | Posted in Business Law | Tagged Tags: , , | Leave a comment

In today’s information-driven economy, innovation is the lifeblood of success. Companies invest heavily in research and development, creating unique products, processes, and ideas. But innovation alone isn’t enough. Without a strong defense, these valuable assets are vulnerable to imitation and exploitation.  This is where a comprehensive intellectual property strategy plan comes in. It is a Read More

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Donald W. Hudspeth
Principal Attorney

Attorney Donald W. Hudspeth has more than twenty years’ experience practicing corporate and business law. Before attending law school, Mr. Hudspeth held a stock brokers license at the age of 21 and owned his own business at the age of 23. He was a business law professor at Arizona State University, West Campus, and has conducted classes and seminars for a number of higher institutions and organizations. Mr. Hudspeth has published two books on law and is the founder of the radio programs Law on the Edge and Law Talk.

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