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May 2014 Archives

California college shut down for failure to pay rent on property

Businesses seeking to retain more capital often seek to rent property rather than buy it. The renting of commercial real estate is governed by a commercial lease and both the business and the property manager must abide by the terms of the lease.

Employee noncompete agreements prohibited in California

Noncompete agreements are a method for organizations to keep their talented employees and prevent other companies from gaining inside information on them. However, such agreements must be balanced with the freedom of employees to determine their own careers.

Commercial developer pleads guilty to securities fraud

Developers of commercial real estate may at times seek multiple investors for a development project or series of projects. These investors will provide the developer with necessary cash flow for their projects, while the developer will agree to provide the investor with some type of asset or benefit in exchange. Developers in these situations must hold up their end of the agreement.

Author sues Warner Bros. for breach of production contract

Best-selling author Tess Gerritsen recently filed suit against Warner Bros. studio for an alleged breach of contract. Gerritsen wrote a book entitled "Gravity" and a unit of Warner Bros. bought the film rights to the book the same year it was published. The author is claiming that the studio breached the purchase agreement by not giving her a credit. She claims that she is entitled to a $500,000 bonus for the movie, as well as 2.5% of any resulting proceeds.

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