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Cleveland Business & Commercial Law Blog

Commercial mortgage modifications may require an attorney's help

Commercial mortgages are quite a bit more complex than their residential counterparts. There are, however, several similarities between the two, including the ability to make modifications to an existing loan. While many homeowners may find it easy to browse and apply for the various types of loan modifications, commercial real estate owners likely won't find it as simple. That is why it is so important to work with an experienced commercial real estate law attorney when choosing and applying for a commercial mortgage modification.

How can someone protect their intellectual property?

Any invention, idea, image or concept that has come to be as a result of someone's creativity may be considered intellectual property. In order for an individual to claim ownership of intellectual property, they must first identify it as being theirs through the use of copyrights, trademarks or patents. Understanding the difference between the three can help people better protect their intellectual property in the event it is used without their permission.

Prepared protection for your business

How many times have you heard someone lament that his or her attorney was ill prepared for a court case? Probably enough to cause concern when the time comes to hire a law firm. When you have a closely held business that you have raised from concept to execution to a burgeoning company to be reckoned with, you don't want to wait until you need to enlist the aid of an attorney for a potentially detrimental legal matter.

What are the pros and cons of filing as a Sub-S corporation?

Nothing can be more intimidating than tax time to those who own their own business. Any misstep could be to your detriment, both financially and legally. Classifications of your business and the elections you choose are not to be taken lightly and can have a significant impact on your business' longevity. So what is a subchapter S election and is it the right choice for your business? Let's explore this.

Whether you are a domestic corporation, have filed as a Sub-S within the last five years, have met the specific requirements as laid out by your accountant, or are a disregarded entity - LLC, you may be contemplating the Sub-S election for your business. It is a more cost effective and usually a quicker way of forming your business and for those reasons alone may be right for you. This may be especially true if you have no intention of taking on debt via outside capital and have no more than 100 shareholders within the U.S. and no foreign shareholders with claims to your business.

Steps to prove a breach of contract

Contracts are put in place for a specific reason: to ensure that all parties involved uphold their end of an agreement or arrangement. When one party is not fulfilling that obligation, a breach occurs and can put the other party or parties in a precarious situation. However, the process of proving a breach of contract must be carefully executed if you want to have the best chance of getting a profitable outcome.

Seven things your lease should cover as a property manager

As a property manager, you have probably felt the nervous feelings of taking a chance on a new renter. Your property is your asset and investment, and you are essentially entrusting that investment to the lives and habits of a stranger. So how do you go about minimizing the risks involved?

Why is it important to have a partnership agreement?

Certain needs in business necessitate a partnership. Sometimes, a partnership is just a feasible option to help your business operate with fewer limitations. Partners can bring financial security to a company and may even bring experience and a fair dose of knowledge to the table. Other partners are silent and do not try to integrate within areas of operational management. Understanding the roles of partners and dictating that from the get-go may help over the years when a partner may be tempted to overstep his or her role.

Commercial real estate growth in northern Ohio continues

Trends related to commercial real estate tell the people of Ohio more than simply trends related to construction or leasing. In fact, information about commercial real estate trends can help one to examine the health of the entire economy. Fortunately for the people of Cleveland, commercial real estate growth appears to be continuing.

Protection for borrowers from unscrupulous lenders

When borrowers seek a line of credit or loan, they are often entering into somewhat unfamiliar territory. Borrower regulations change with frequency, and an investment practice may seem legit that really isn't. The odds are stacked in the favor of lenders, who stay current on the ins and outs of the law and find ways to manipulate the system while still appearing to navigate within the parameters of regulation.

What are the remedies for a breach of contract?

When a person or entity agrees to provide goods or services to you and doesn't completely satisfy their obligation, they are in breach of contract. If you feel that you have had a situation such as this happen to you, you could stand to gain in court. You could be awarded remedies in law or remedies in equity.

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