A morals clause generally grants employers the exclusive right to end a contract in the event an employee engages in behavior that may be harmful to the employer’s image. Morals clauses are commonly found in employment agreements between companies and high-level executives, or throughout the entertainment industry in many different contexts (e.g., contracts between advertisers, television networks,
Many business owners choose to incorporate or form a Limited Liability Company (LLC) to protect their personal assets from business creditors. In order to limit personal liability, entities must respect specific corporate formalities. Among these include complying with annual filings, avoiding the mixing of company funds with the owners’ assets, holding required meetings and using
If you have done your due diligence as a business owner or designer, you’re probably already aware of the importance of trademarks and how they increase and protect your brand value. Trade dress is a type of trademark that protects the distinctive overall look and feel of a product or service. This may include elements
The legalization of cannabis in several states has prompted the growth and creation of many cannabis companies in recent years. In fact, the cannabis industry is expected to make $72 billion annually by 2030. With the industry becoming an increasingly competitive space, cannabis companies should protect their brand by obtaining trademarks. Trademarks range from a
Whether they call it a “Confidentiality Agreement” or a “Non-Disclosure Agreement (NDA),” many New Yorkers begin their business deals with a contract governing the sensitive information that they might exchange with one another. Employers hiring or firing employees, tech companies with trade secrets and parties exploring a potential business relationship all routinely find themselves in need of a well-drafted NDA. Although NDAs are often
Just over three months after a highly publicized trial, Judge Florence Y. Pan issued an opinion blocking the merger of two rival publishing houses, Penguin Random House (“PRH”) and Simon & Schuster (“S&S”). Both PRH and S&S are members of a group commonly referred to in the publishing industry as the “Big 5.” The “Big
Visit most websites and you are likely to see in the page footer mention of a privacy policy and terms of service (also known as “terms and conditions,” “terms of use” or simply “terms”). These statements may also appear when you are registering for an online account, accessing restricted content, purchasing goods or services online, or
It is not often we see company heads put their philanthropic values over their financial priorities, but Patagonia founder and majority owner Yvon Chouinard would likely argue that his multi-billion-dollar business would be worth nothing if it folded on its mission to save the planet. In a now viral September letter published to Patagonia’s website,
Like many fellow business owners, you may have confidential information or business “secrets” kept under lock and key. These secrets could be a family recipe for the next restaurant, a coding algorithm built over the years, a carefully cultivated client list, a specialized manufacturing process or data and research compiled within the company. But regardless
A waiver or release of liability is a standard provision in many types of contracts, especially settlement and separation agreements. For example, when an employee leaves a job, an employer will typically require the employee to sign a severance or separation agreement that waives their rights to sue and releases the employer from liability for
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