Well written contracts are imperative for a successful business. Further, understanding the complex terms of a contract and how they will affect an individual can provide much needed clarification for any individual before they sign the dotted line. With this in mind, its imperative contracts be written with precision and care to ensure potential risks for a business or individual person are identified and addressed. Attorneys at Gary E. Patterson, P.C. work tirelessly with the client to understand the moving parts of each transaction and the big picture goal. Our attorneys work with clients to construct, negotiate, draft, and review contracts. Examples of contracts our attorneys work on include the following: leases, employment contracts, limited liability company operation agreements, partnership agreements, joint venture agreements, buy-sell agreements, severance agreements, non-competition, non-disclosure and confidentiality agreements.
Operation Agreements (Limited Liability Companies). Gary E. Patterson, P.C. highly recommends individuals consult with an attorney to draft an appropriate operating agreement for newly formed Limited Liability Companies and existing Limited Liability Companies. A well-drafted agreement sets the basic rules by which the business will exist. An agreement will identify the individuals or individuals responsible for running the LLC's on a day to day basis. The agreement will identify the means by which the business will receive cash distributions, how distributions are made, how the business can be wound up, and how disputes are resolved. Failure of members to sign an operation agreement can be disastrous, often resulting in prolonged legal battles. To receive a free initial consultation regarding operation agreements, contact an attorney at Gary E. Patterson, P.C. today.
Non-disclosure Agreements. A non-disclosure agreement is a legal contract that restricts one or multiple parties from disclosing particular information to third parties. These types of agreements can be signed by new employees who are set to gain access to confidential information of an employer. Another example is when one company is contemplating the purchase of another company. The non-disclosure agreement helps to ensure a company's proprietary or secret information will not be disclosed to outside parties in the event the purchase of the business does not occur. Examples of information intended to be confidential include: trade secrets, research data, vendor pricing, customer lists, and financial information. If you or your business have questions about the terms of a non-disclosure agreement, contact Gary E. Patterson, P.C. to speak to an attorney.
Employment Contracts. Attorneys at Gary E. Patterson, P.C. have extensive experience reviewing, revising and negotiating employment contracts and other agreements relating to employees. Our attorneys understand negotiating a pre-employment contract is about bringing the parties together to ensure a mutually agreeable employment relationship. As a result, it is imperative such an agreement provide for more than simply the salary amount. It should also contain specific provisions governing the terms of employment and other contingencies in the relationship.
Non-Compete or Non-Competition Agreements. Texas is known as an "at-will" employment state. Most individuals and companies believe "at will" translates to complete freedom of individuals to work for whomever they wish. This is incorrect. An individual's employment in Texas can be limited by a non-compete agreement. Meaning, a company can prohibit a former employee from working for a competitor using a non-compete agreement. The legality of such an agreement depends on the terms. In general, a valid non-compete agreement in Texas must be reasonable in time, scope and geographical area. If you or your company have questions relating to the validity of a non-compete agreement we suggest you contact an attorney immediately.
Non-solicitation Agreements. These types of agreements typically prohibit former or departing employees from soliciting their colleagues (employees of prior employer). The agreement may also forbid the employee from soliciting the company's customers and/or vendors after leaving the employer. The type of language used within these agreements is crucial; if the language is too broad then the agreement could be held unenforceable by a Texas court. Conversely, if the language is too narrow the prior employer may risk losing large customer accounts and be without any legal remedy.
Severance Agreements. Our attorneys can assist a company in the event it is ending an employment relationship. In Texas, companies are not required to provide any severance to employees that are terminated, regardless of reason. However, many companies may wish to offer a severance as a means of securing a release of future claims. Regardless of the circumstances, if you are a business who wishes to offer a severance, or an employee who has been offered one, you should have an experienced attorney review the terms to ensure its legality and to identify any potential issues of concern.
BUSINESS CONTRACTS AND AGREEMENTS
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