New Jersey Business Lawyers Discuss Common Business Law Issues
Will New NJ Subsidies Help Businesses?
New Jersey Business Lawyers Consider the Consequences New Jersey’s economy has been stagnant as of late. Unemployment is at 6.4 percent, higher than the national average, and the state’s credit rating is the second worst in the United States. The pension and benefits system is desperately underfunded, receiving $2.4 billion less than promised due to budget shortfalls. As the state economy has dwindled, the state government has pushed increasingly aggressive corporate subsidies to keep companies from moving to other states. In 2014, New Jersey committed a record-breaking $2.1 billion to corporate incentives. The state’s subsidies have convinced a couple of companies to conduct business in the Garden State. Subaru, for example, was in talks to move its U.S. headquarters to nearby Philadelphia from Cherry Hill, N.J., but a $118 million tax incentive convinced them otherwise. A spokesperson from Pennsylvania admitted that New Jersey’s offer far outpaced Pennsylvania’s. Subaru chose to…
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Enforcing Non-Compete Agreements
Generally speaking, an employer can restrict an employee’s post employment competition through a non-competition agreement. Typically, this type of business agreement bars an employee from working for another business that is in competition with the former employer, in a certain geographic area for a set period of time after the termination of the employment relationship. Employers seeking to prevent employees from competing after their termination must carefully draft non-competition agreements to fit within limited parameters. An experienced Monmouth County business lawyer can help guide you through the complicated process of drafting an enforceable non-compete agreement. Consideration Needed for Employer to Require Employee To Sign For an employer to require an at will employee to sign a non-compete agreement, he or she must provide consideration for the agreement. This consideration can be in the form of a bonus, payment or other incentive in addition to an employee’s salary or hourly compensation….
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New Jersey Wrongful Termination Lawsuit
A high-ranking employee of a major drug manufacturer in New Jersey was terminated from his position when it was revealed that the worker was arguing that the company was not selling, marketing and distributing one of the company’s major drugs. The man had been a vice president within the company and, along with a colleague, had been a major proponent of improving the marketing and selling of the drug. The company sent him and his colleague a letter stating that it had made “significant changes to correct the issues you raised” and that it is “in the process of disclosing to the relevant government authorities” marketing issues relating to the pharmaceutical. Because the vice president had been levying such serious allegations against his company, the corporation reportedly hired private investigators to discover things about the man that would put into question his mental stability. New Jersey Business Contract Businesses in…
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What Should I Consider Before Getting Involved in a Franchise Operation?
One way to break into a market is to buy a franchise. Whether it is a shipping store, a dog walking service, or a fast food restaurant, a successful franchise offers benefits like instant name recognition and training and support. As with any other business opportunity, opening a franchise location does not come with any guarantees. A franchisee’s success or failure will depend on a number of factors, and anyone who is thinking about becoming a franchise owner should carefully evaluate the business opportunity before signing any contracts. An experienced Monmouth County business attorney represents both franchisors and franchisees in all aspects of franchise law and will help you evaluate and complete your franchise purchase. Things to Consider Before Buying a Franchise Franchise operations are everywhere, though some franchise opportunities are better than others. Before buying into any franchise, you should determine if it is a wise investment by considering…
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