Most of the time, you’re not thinking about the legal background of your business environment. It’s one of many elements of operations, like logistics and marketing. But the law matters a lot more during important moments of change, like buying or selling a business.
Other legal issues that can affect a corporation in Kentucky are violations of their intellectual property, which could cover anything from unauthorized use of a logo to an unlawful copy of a proprietary process. Although it’s possible to challenge an issue like this in court without assistance, it is generally a good idea to do it with legal assistance.
Larger businesses may also face challenges to sales based on the requirements for finalizing them. A lawsuit may hold up the sale of a Hardin County hospital because an interested party claims the sale was negotiated in secret.
The plaintiff in the suit claims that the county court’s approval of the sale should be set aside because Kentucky’s open meetings laws were violated during the preparations. Although a court previously rejected these concerns, the plaintiff got a rehearing, which may have been based on new evidence.
Delays of sale can reduce the market value of businesses or cause other problems that could affect all parties. This is one of the reasons that involving an attorney in complicated business dealings can help protect officers’ interests as well as the well-being of the institution.
Consider getting legal help if your business is approaching an important decision. There are few alternatives to the help of a lawyer when businesses have to go to court.