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Salt Lake City Business Law Blog

Defending against title claims on a property your company insured

Quite a few people think of title insurance as a scam, but as a business that works in the real estate or title industry, you know better. Title insurance protects property owners and financial institutions against potentially devastating claims against their title or ownership of a property.

While only a fraction of property owners ever need to defend against the title claim, the process can often cost many thousands of dollars. A lender's title policy protects financial institutions such as mortgage companies and banks against the loss of the money they provide to purchase a property that later has a title issue. A buyer's title policy protects the property owner from the losses and costs associated with the title defect.

Is your company properly classifying its contractors?

Your company's employment contract will include important information that dictates how you relate to your staff during and after their employment with your company. These contracts outline the terms of employment, benefits, compensation and expectations for workers.

Many companies use employment contracts to protect their business interests by requiring a non-compete agreement from new staff members or having workers' execute non-disclosure agreements that will prevent them from sharing what they learn while working at the company or posting damaging information on social media.

Defending against claims of a construction defect

Construction defects are a risk on any project. It’s why you go out of your way to hire people you trust to do the work, and do it well. Even so, your business may face the occasional claim of a construction defect.

If that happens, don’t panic. There are many ways to defend your work and ensure your business is not being incorrectly held responsible for a perceived issue.

Your options for enforcing a noncompete agreement

Business owners across Utah face a wide array of threats to their business on a regular basis. Unfortunately, many of these threats can come from inside your business itself from your employees.

Employees are essential to the success of your business. Yet, when employees leave to pursue other employment opportunities, they may reveal key components of your business to competitors. Whether unintentionally or maliciously, such revelations can put your competitive edge at risk. What are your options to either prevent this or fight back?

How creating a trust can help your business and estate

Do you know exactly what would happen to the value of your business if you were to have a fatal emergency tomorrow? If not, you are not alone. A 2017 survey found that only 36 percent of people ages 37-52 have a will or trust.

A will or trust can help make your end-of-life wishes clear for your well-being and assets. If you own a business, you may significantly benefit from opening a trust under the guidance of a financial advisor.

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