The level of competition between rival companies in Florida and elsewhere can be intense at times. While this aspect of business could be healthy under certain circumstances, there are a variety of scenarios in which conflict may arise. Real estate companies Zillow and Compass have recently engaged in noncompete and trade secret disputes after Zillow claimed that three former employees turned in their resignations and accepted positions with a competitor.
When you and your partner joined forces in business, you may have had many hopeful plans for the future. The idea for the business may have germinated from a casual conversation with a friend about your mutual strengths and interests, or you may have sought out someone who could support your goals financially and creatively.
Upon entering a business arrangement with another party, companies in Florida and elsewhere may also wish to include terms defining the conditions in which the agreement may be terminated before the agreed-upon date in the contract. However, should a company feel that the other party ended the arrangement unlawfully, it may wish to pursue restitution through litigation. The American Bottling Company recently filed a breach of contract lawsuit against BodyArmor Sports Nutrition after a 10-year deal was ended after only four years.
When a company in Florida and elsewhere receive information about the possible theft of sensitive company secrets, it may wish to begin taking steps to protect its interests. While a company may wish to take time to investigate the matter thoroughly, timing may also be of the essence, as a lengthy delay in action could prove detrimental. A court recently ruled that an asphalt company in another state was time-barred from filing a theft of trade secrets claim against another party.
Entering a business arrangement with another party in Florida or elsewhere can be an exciting endeavor, but it may also come with a certain level of risk. Should either party fail to uphold its end of the arrangement, the fallout could have a detrimental impact on the future of the other company. Stillhouse, LLC, has recently filed a breach of contract lawsuit against Bacardi Limited, accusing the company of attempting to achieve a lesser buy out costs through fraudulent means.