Dinn, Hochman & Potter, L.L.C.
TF: 800-233-4079
L: 440-681-8005

October 2014 Archives

What remedies are available in a breach of contract case?

The remedies available to a plaintiff in an Ohio breach of contract case depend on the terms of the contract. The most common remedy is money damages, but the plaintiff may in some circumstances pursue rescission, specific performance or injunctive relief, either in lieu of or in addition to money damages. As a preliminary matter, the non-breaching party should generally notify the other of a breach as soon as possible. Failure to timely notify the breaching party may preclude or limit recovery in some cases.

What must be include in the Articles of Incorporation?

According to Ohio law, anyone as an individual or jointly may form a corporation in the state, but they must get a license from the Ohio Secretary of State to be able to operate in the state. Before doing business, Original Articles of Incorporation must be filed, and the documents must contain a variety of information, including the name of the corporation, which must indicate that the business is a corporation and must name its location. A Statutory Agent must also be named. The Statutory Agent is the person responsible for accepting and passing on information related to legal processes and notices.

New business partner agreements

It is important for Ohio entrepreneurs to take care of legal matters when forming a new business. Many start-ups fail to have in place basic legal documentation outlining each founder's role in the business. Many times, this is because the owners would rather spend the company's money on products and advertising rather than on legal matters. However, businesses that have legal documentation in place that gives a blueprint for what will happen if major changes take place or the company shuts down tend to be more successful than those that do not.

Choosing the best structure for a business

Ohio entrepreneurs have different types of structures to choose from when starting a business. The simplest form is the sole proprietorship. A sole proprietorship involves a single owner who has control over all of the managerial and financial aspects of his or her company. Unlike an LLC or a corporation, the owner is personally liable for the obligations of the business.

Office Location

Dinn, Hochman & Potter, L.L.C.
5910 Landerbrook Drive, Suite 200
Cleveland, OH 44124
-6500

Local: 440-681-8005
Toll Free: 800-233-4079
Fax: 440-446-1240

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