Do
you buy or sell products and services without understanding the fine
print?
Do
you use template forms that you don’t understand?
Are
you sure your corporate counterparts are properly formed and legally
exist?
Do
you hire consultants and employees without written agreements?
Disregarding
the legal aspects of your business may cause enormous problems and get
you or your company in trouble.
We
can tailor legal solutions to your business to limit legal, business
and financial risks.
Operational
Contracts
If
you sign a document that you have not read or that you do not fully
understand, you may be agreeing to terms that are contrary to those
that you specifically negotiated. You may think you locked a client
for six months worth of sales, but the fine print will say they can
cancel the contract with a three day notice. You may think you have
an agreed price, but the contract may say prices can be increased unilaterally
by the other party.
Having
a lawyer review contracts is a deductible expense that could save you
far more than the fees incurred. It could save your company.
Today’s
electronic communications enables lawyers and clients to electronically
mark up documents, without slowing down the closing process. Experienced
counsel can add value to every transaction.
Hiring
Employees
Hiring
and firing is a highly regulated aspect of business that contains many
traps for the unwary. A minimum of planning and education about employee-related
matters is necessary to avoid significant legal and financial exposure.
For example, certain companies think that retaining an individual as
an independent contractor rather than as an employee is at the discretion
of the employer. We understand the criteria for the IRS to re-qualify
an independent contractor relationship into an employment relationship,
making the company liable for back taxes, plus interests and penalties.
OCCIDENTAL
can advise you on the most cost effective, risk-free way to proceed
with staffing your business.
Creating
an Employee Incentive Plan
OCCIDENTAL
can help your company create a plan for rewarding employees and consultants
with equity, royalties and deferred compensation. We can craft multi
faceted employee incentive plans that contain Incentive Stock Options
and Non-qualified Stock Options, restricted stock awards, and phantom
stock.
We
can help you set up a tailored plan that best suits the needs of your
company and its employees.
Office
Space
Leasing
office space can often be an arduous task. The lease may contain restrictions
against not expansion or the ability to sublease. Numerous small companies
are misled into signing what the landlords call a “standard lease”
which does not take into consideration the needs of a growing business.
Your company’s needs are not generic and your office space should
not be treated as a commodity.
OCCIDENTAL
can assist you in negotiating your lease terms that will address your
concerns and ensure the flexibility your company needs for its growth.
Licensing
and IP
Licensing
is a common form of revenue stream for companies who have developed
their own intellectual property. Certain industries, such as the biotech
industry, are built on the concept of concentrating all license rights
into a single vehicle that develops a plan for marketing the combined
technology.
A
licensing deal can come in numerous forms and there are various degrees
of rights that can be covered by the license. A license can be, among
other things:
· exclusive, co-exclusive or non-exclusive,
· irrevocable or revocable,
· perpetual or for a limited duration,
· sub-licensable or not,
· transferable or not, etc.
The license may involve full access to the intellectual property (e.g.
source codes) and may include upgrades, improvements and derivative
works.
OCCIDENTAL
has drafted and negotiated many licensing transaction, covering diverse
types of IP such as biotech patents, telecommunication systems and tailor
made software applications. We can assist your company in maximizing
the benefits deriving from a licensing transaction.
