In New Jersey partnerships, disputes can lead to the potential loss of money, the loss of customers and wasted years. It is generally in the best interest of business partners to attempt to resolve any disputes in a reasonable and amicable fashion. It may be possible to have agreements in place that help prevent such issues to begin with.
There are several different types of entities in the world of business that are defined in the IRS's Internal Revenue Code. Each entity has its own tax implications and slightly different filing statuses. The entity that a business chooses can affect how the business is run, the tax liability the business will have and the reports that will be required.
New Jersey business owners may not be aware that Hormel Foods Corp. is facing a lawsuit after AgFeed Industries filed a complaint in U.S. Bankruptcy Court, the same court where the company filed for bankruptcy in July 2013. The suit is seeking an unknown amount in damages. AgFeed's complaint against Hormel stems from allegations that Hormel knew of contract violations being executed by M2P2 LLC, a company whose operations AgFeed had purchased.
Business owners in New Jersey who have trade secrets to protect could be interested in the following information. Protecting against disclosure of trade secrets can be accomplished through the use of a contractual agreement. The two types of agreements are generally used are non-compete agreements and non-disclosure agreements.