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Family Business Succession: The Importance of Having a Plan
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By Rudman Winchell Attorney Jonathan P. Hunter Although the idea of the family business is firmly rooted in American culture, the survival rate for family businesses in America is startlingly low. Less than a third of family-owned businesses survive into the second generation. Twelve percent of family businesses make it to the third generation. Only…
Best Practices in International Business Contracting – Part 2
Byadmin
In a prior blog post, I began discussing best practices when contracting with another business that is outside of the United States. The most successful businesses forecast their potential business risks, discuss them early with their counterparts, include related provisions in their contracts addressing those risks, and then monitor the relationship on an ongoing basis….
Your Homeowners Insurance Policy and You – Coverage Exclusions and the Duty to Defend
Byadmin
Despite its title, the protection provided by a homeowners insurance policy is not limited to the home. It applies in a wide range of circumstances—much wider than what most people think. Most policies contain personal liability coverage that applies if you are sued for injuries to someone else or for damage to another person’s property—no…
Improving Home Improvement: The Home Construction Contracts Act
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By Allison A. Economy, Esq. As temperatures drop and winter closes in, many Maine homeowners have yet to finish (or even start) those “honey do lists” that looked so manageable last spring. As a result, this time of year leaves us clamoring for handymen and contractors to help complete outdoor tasks before the snow begins…
Legal Issues with Cell Phone Tracking and Monitoring in Maine
Byadmin
Maine’s increasing use of cell phone tracking as an investigative tool implicates important legal and constitutional questions that are evolving across the country. Every cell phone transmits several types of information that, with varying degrees of accuracy, can be used to determine its location. Because so many people have cell phones, this information can be…
Investor Chronicles: Should My Company Take on Private Investors?
Byadmin
In my last post I provided some cautions to investors when they are determining whether to invest in a privately held company. This post discusses the investment relationship from the company’s side. Summary: Do not agree to sell or trade equity in your company until you have vetted your prospective investors. Recently I attended a…
