Fraudulent acts are committed by a relative or caregiver of a property owner. In many cases, they involve family disputes. There have been reports of children stealing their parents' property, people attempting to co-opt inheritances from their siblings, and people attempting to defraud their spouses. To transfer ownership, the scammers create fake documents, including fraudulent or incorrect notarizations. Unlike in many other parts of the country, California's laws and real estate practices make it very easy to fraudulently transfer property title. When a document is recorded, it becomes part of the official title chain, and the new owner, legitimate or not, can obtain loans or even sell the property. The statute of limitations is relatively short (three years for forgery and two years for fraud) and has frequently expired by the time the victim realizes his home is no longer in his name.
Fraud transfers include signed documents that allow a creditor to seize the debtor's assets or force the debtor to pay the debt from their income. Some judgment debtors decide to hide or dispose of their assets after learning that judgment collection methods will allow the creditor to seize their assets. Debtors, for example, may transfer their assets. This could be to relatives, friends, or legal entities, simply place the assets under false names, or burden their assets with fictitious debts. Debtors may engage in such schemes, the courts and legislature have long recognized. As a result, the Uniform Fraudulent Transfer Act provides remedies for creditors who face this issue. Making a mistake during a notarization can have serious financial and legal ramifications for California Notaries, and breaking the law on purpose can result in even harsher penalties. This guide will assist Notaries in becoming acquainted with the Golden State's Notary laws and penalties for misconduct.
If a Notary commits an infraction, the penalties under California law are divided into four categories:
It is critical to understand that misconduct can result in multiple penalties for a Notary. For example, if a Notary is found negligent for failing to properly complete and seal an acknowledgment on a real estate document, the Secretary of State may impose a civil penalty as well as suspend or revoke the Notary's commission. Furthermore, if the Notary's error resulted in a financial loss for the signer, the signer could sue the Notary to recover any damages incurred as a result of the faulty notarization. Intentionally violating state Notary laws ("willful misconduct") carries significantly harsher penalties than unintentional violations ("negligence").
Notary misconduct can be avoided by the following steps:
Property title fraud can have serious consequences for homeowners in California. To prevent fraud, regularly review your property records and monitor any changes in your title. Be cautious of suspicious activities, like receiving unfamiliar loan offers or unexpected legal notices. If you suspect fraud, act quickly by contacting your title company and a real estate attorney. The sooner you identify fraudulent transfers, the better your chances of stopping further damage. Keeping track of any changes and maintaining clear communication with your legal team can help protect your assets from fraudulent transfers.
If you discover that someone has fraudulently transferred your property title, take immediate action. Start by contacting the county recorder's office to verify the transfer and obtain copies of all relevant documents. Notify your mortgage lender and any financial institutions involved to prevent further unauthorized transactions. Next, file a fraud report with local law enforcement and seek the guidance of an attorney specializing in real estate fraud. Legal remedies may include reversing the fraudulent transfer, recovering assets, and holding the responsible parties accountable. Be proactive in protecting your property to minimize further harm.
Notarization plays a vital role in ensuring the authenticity and legality of real estate documents. Proper notarization prevents fraudulent activity by verifying the identity of the signer and confirming that they willingly entered into the agreement. Ensure that the notary follows all California laws, including the proper completion of notarial certificates and maintaining accurate records. Inaccurate or improper notarization can lead to costly legal disputes or even title fraud. Always choose a reputable notary and ensure they comply with all requirements to avoid the consequences of fraud or misconduct in your transactions.
If you are in need of an attorney, feel free to give our office a call at 310.943.1171.
In California, when a spouse dies, the surviving spouse generally has the right to transfer assets and property in their name but there are exceptions. First, the surviving spouse would need a certified copy of your spouse's death certificate and certificates of marriage to show that you married the deceased.
California is a community property state, as such upon the death of a spouse, the surviving spouse is entitled to one-half of the community property. Pursuant to California Family Code section 760, community property is defined as “all property, real or personal, wherever situated, acquired by a married person during the marriage while domiciled in the state.” At the end of a divorce, community property is generally split 50/50.
In California, if a spouse dies intestate, meaning there is no will or trust, then surviving spouses may inherit half of the community property, as well as, one-half of the deceased spouse's separate property.
In California you generally cannot disinherit a spouse unless, your spouse waived such rights to inherit from you in a valid, signed agreement, known as a "pre-marital agreement".
Creditor creates a judgment liens on real property by registering an abstract of a money judgment with the county registrar. It can apply to real or personal property, including jewels, art, antiques, and other valuables.
California law regulates the lien judgment. A title search revealing a judgment lien means the judgment creditor has registered a Judgment Abstract in the debtor's district.
To get the debtor's judgment on California property, a creditor must mail or take the Abstract of Judgment to the county registrar's office in any California county where the debtor currently owns property or plans to own property in the future. An abstract of judgment is a written summary of a judgment, showing the amount the losing party pays to the winner, the interest rate, court costs, and any special orders to follow. If the lien will attach to personal property, the creditor must file the Abstract of Judgment notice with the California Secretary of State. The lender may also notify the debtor of an examination.
Oftentimes, when we think of the relationship between an attorney and their client, we simply assume that there are little to no complications as the relationship ought to be fairly straightforward. It is a professional relationship that confers with it a certain amount of trust and loyalty.
In other words, the client and the lawyer have entered into an understanding in which they have agreed to work together for a particular dispute, issue, or case.
As a result of this agreement, whatever is in the client’s best interest becomes the lawyer’s objective responsibility to determine, advise, and inform throughout the entirety of their client-lawyer relationship.
Since the client’s best interest becomes the lawyer’s responsibility, it is that lawyer’s legal duty to do everything in their power to help the client.
As such, it makes sense that a lawyer cannot have two clients at the same time whose interests are not aligned. In other words, there cannot be a conflict of interest between the clients that the lawyer represents, otherwise there may be a high chance that the lawyer will not be able to fulfill their loyalties and legal duties to those clients.
One of the most frequently-charged drug crimes is possession of a controlled substance, under California Health and Safety Code 11350 Possession of a Controlled Substance. It is prohibited possessing certain controlled substances without a valid prescription. Controlled substance is a chemical or a drug whose possession, manufacture, and use are regulated by the United States "Controlled Substances Act".
Unlike Health and safety code 11365 which governs unlawful use of controlled substance, In order to being convicted of Health and Safety Code Section 11350 Possession of a Controlled Substance, the following elements must be established:
All of the apps and online services you use track, collect and distribute your usage patterns and demographic information. However, some companies put much more emphasis on protecting the data of their consumers, whereas others go out of their way to collect and analyze as much of their users’ data as they can. The ever-increasing gap between companies’ ethos and philosophy toward user privacy has reached a turning point. On the one hand, you have companies like Apple that have built up a brand and a reputation for standing with their customers by protecting and encrypting their data as much as possible–at times even making that data completely inaccessible to Apple itself. Then again, on the other hand, you have companies like Google that go out of their way to gather as much data and information as possible from their users, without paying nearly as much thought as to how to contain and protect that data from breaches and hacks. As a consumer, these increasingly polarized attitudes and approaches toward the issue of privacy should definitely strike a chord, and at least raise some questions for thought.
California Non-Disclosure Agreements
In the modern, competitive workplace, maintaining an edge over your competitors’ ideas and innovations has never been more important to the success and longevity of your enterprise. For this reason alone, non-disclosure agreements have become ubiquitous and commonplace across many industries. The fear of secrets, designs, and upcoming ideas or trends leaking out is so prevalent that many companies struggle to contain their own in-house secrets and methods from their competitors without subjecting their own workers to intense scrutiny. However, this is where some of the advantages that come with non-disclosure agreements shine through.
Think of it this way: when a business hires a new employee, the very last thing they want out of their new member is for another company to swoop in with a more lucrative offer to steal the employee...especially if the new employee has had some time to learn about the company’s trade secrets and confidential information. Having a key employee or asset leave your company and work for a competitor can be disastrous because of the secret information the worker may have had access to while they worked for you. If they manage to share those secrets with a competitor, then you may very well risk losing your competitive edge in your industry.
So, you successfully submitted your trademark application and you’re so excited to hear that your trademark is now officially registered!
Except, instead of that notice, you get another letter from the U.S. Patent and Trademark Office called an ‘Office Action’. The letter seems confused and complicated and at this point you’re not even sure if your trademark was outright denied or put on hold. You begin to wonder if this was all a huge mistake.
Well, we’re here to clear up some of the confusion for you. First of all, it’s not a huge mistake. Taking the steps to protect your brand, idea, or design is a huge one and submitting the application for it is no small feat! The truth is, it’s actually quite common for trademark applications to not get accepted immediately. Importantly, this does not mean that your application has been denied. It just means that the USPTO needs some more information before granting you your trademark. After you submit your application, an examining attorney at USPTO will review it and they will determine if there are any problems with your application. If there are any, you will receive an ‘Office action’ letter, detailing what went wrong.
You have probably heard of trademarks before, but what you almost certainly haven’t learned about is the process by which you can get something trademarked. The trademark submission process is a federally regulated, highly specialized endeavor that requires lots of detailed information to show how your product, company, good, or service is unique enough to warrant a trademark. The application goes through the United States Patent and Trademark Office, or USPTO for short.
Upon filing a trademark application with the USPTO, you will have to wait through a three to four month period for them to begin the initial assessment and consideration of your application. During this time, there is not much else you can do and, therefore, you ought to ensure that your application is presented as clearly and as succinctly as possible so as to avoid any further delays in the process. At that point, an examining attorney reviews your application and compares it to other, pre-existing trademarks to ensure that there are no conflicts of interest. After this initial overview, the attorney will forward your trademark for publication.
A stock purchase agreement, or an SPA for short, is an agreement that a company or its shareholders and buyers sign whenever shares of a company or corporation get bought or sold. Stock Purchase Agreements are used most often by smaller corporations when selling their stock publicly to create a certain amount of trust and security between buyer and seller. Both the company itself or its respective shareholders can sell stock to potential buyers. That’s where Stock Purchase Agreements come in very handy as their purpose is to protect you, regardless of whether you’re the buyer or the seller.
It’s important to know that a stock purchase agreement is not the same things as an asset purchase agreement, or an APG. The main difference is that stock purchase agreements only sell shares of a company in order to raise money or to transfer ownership of shares while asset purchase agreements aim to finalize company asset sales. Namely, the stock purchase agreement will outline several key points:
For more information regarding the rights of a surviving spouse or probate in California, we invite you to contact a California probate attorney at KAASS LAW today at (310) 943-1171.
A property lien in California can remain in the possession of property or personal property for up to 10 years, even when the property is not the property of the debtor. In addition, before it expires, a creditor should renew the lien. When the lien expires, it is no longer compulsory and the lender can not get the cash. You cannot renew the lien for 5 years after renewing it. Make sure to renew the lien in California every 10 years before the estate decision ends. A creditor must remember that several variables affect the ability to collect under a judgment lien. This involves a fixed amount that the creditor can not touch if the attached property is the debtor's primary residence, other replaceable liabilities, and bankruptcy or foreclosure proceedings.
If the Judgment is still in effect, there is usually only one way to release the lien of decision, and that is through Judgment Satisfaction. The lender of the judgment must record a Judgment Satisfaction or alternative type of lien discharge. In California, there is no statutory right to introduce a motion to terminate the Judgment Abstract. KAASS LAW helps you create, renew, and satisfy judgment liens in California.
Judgment liens in California place restrictions on foreclosures. However, they do not always guarantee collection of the debt. For example, if a mortgage already encumbers the property, a judgment lien holds lower priority. It cannot be discharged until senior creditors are satisfied. In addition, if the debtor files for bankruptcy, the court may stay the lien. Or cancel it as part of a debt relief proceeding. If the property is owned by more than one person, the judgment lien may only attach to the debtor's interest. This limits your ability to collect. Especially if the other owners oppose a foreclosure sale.
The presence of a judgment lien significantly reduces the likelihood of a successful sale of a property. Buyers typically avoid purchasing a foreclosed property because of the legal risks involved. When a sale is completed, the lien must:
If the debtor decides to sell the property, the proceeds of the sale must be used to pay off the judgment lien. The provisions of the California Code of Civil Procedure govern this.
The debtor can remove a judgment lien only after fully paying the amount specified in the writ of execution or obtaining a court order. After receiving the full amount owed, the creditor must file an acknowledgment of satisfaction of the judgment. Without this record, even if the debt is actually paid, the lien will remain in the system. And while it is in the system, it will restrict the disposition of the property. If the creditor fails to file a notice of discharge, the debtor has the right to go to court. With a motion to compulsorily remove the lien.
If you are a creditor seeking to:
Or a debtor who wants to get rid of a wrongful or overdue encumbrance, the specialists at KAASS LAW are ready to help. We provide qualified legal assistance at every stage of the process. Call us at (310) 943-1171 or visit our Glendale office for a free consultation and evaluation of your situation.
A lawyer is not allowed to misrepresent or conceal the dual representation. Simultaneous conflicts of interest can result from the lawyer’s responsibilities to another client, a former client, or a third party or from the lawyer’s own interests.
In the event that a conflict of interest arises between a lawyer and their clients, there are already established rules that the attorney must follow.
Firstly, the lawyer must clearly identify the client or clients that this conflict affects or may affect. Then, he must determine whether or not a conflict of interest does exist as well as whether or not he can still represent the client despite the existence of the conflict by means of written, informed consent.
While it may sound counter-intuitive at first, a lawyer can, in certain circumstances, represent two clients whose interests are not necessarily perfectly aligned–if and only if they both consent to it after being informed of the risks and challenges that may come about due to that representation.
The complications to the issue of conflict of interest mainly come up due to the fact that a conflict of interest can exist before representation is established, during the client-lawyer relationship, and even potentially after it is over.
The reasons for this vary widely but generally it is always the responsibility of the lawyer or law firm to do their own internal research and determine whether or not it is legal, advisable, and safe to offer up representation of a client. Furthermore, as a general rule it is not favorable nor ideal to be represented by a lawyer or law firm that has a client whose interests do not align with yours.
If the conflict cannot be resolved by means of informed consent of the involved clients, then it is expected that the lawyer withdraw from the representation.
One of the core aspects of being a lawyer is to faithfully represent a client and all of their best interests once the client-lawyer relationship gets established and, as such, if an unresolvable conflict of interest arises, then it is only natural for the lawyer to withdraw from the representation. If he does not, then he cannot faithfully represent his client or clients and that goes contrary to the ethos of the profession.
Our lawyers in Glendale, Los Angeles, CA, at KAASS LAW believe in the integrity that comes with the legal profession and we stand to uphold it at all costs.
We thoroughly search our database to avoid such problems and we work with clients to ensure their needs and interests are always met. In the event that you feel you may have been represented by a lawyer or law firm who failed to inform you of a conflict of interest or who deliberately took on your representation regardless, we encourage you to give us a toll free call at (310) 943-1171 to speak to our defense attorneys today.
We will fight to right the wrongs of other malicious firms or lawyer and we stand by our client’s best interests always. At KAASS LAW, we know exactly where our loyalties lie–with our clients.
According to California Health and Safety Code a "controlled substance" can include a wide range of drugs, including, but not limited to stimulants, hallucinogens, depressants, opiates, cocaine, heroin, methamphetamine, PCP.
There are three types of controlled substance possession: actual possession, constructive possession and joint possession. Actual possession of a controlled substance means having drugs on person with immediate or direct physical control over it. Constructive possession means not having drugs on person but having the authority to control the possession of drugs. This means that the defendant does not need to be caught with drugs in his direct possession in order to be charged under HS 11350(a). Having joint possession means sharing actual or constructive possession with at least one other person.
The defendant is excused from violation of Health and Safety Code 11350 as long as he held valid prescription for the drug and the possession was consistent with the purpose of the prescription. A legal written prescription is given form physician, dentist, podiatrist, or veterinarian licensed to practice in state. This defense won’t apply if the defendant possessed a fraudulent prescription for the drug or was found in possession of more drugs than was prescribed.
Temporary possession will serve as a legal defense in case the defendant possessed the drugs with the aim to dispose or destroy them for terminating its unlawful possession. This defense won’t absolve the defendant from criminal culpability in case he exercise control over the drug but willingly dispose it.
Health & Safety Code section 11350 specifically punishes for the possession of something illegal. Therefore, in case the defendant did not actually or constructively possess the controlled substance then he can't be committed in violation under the essence of this law.
According to Health & Safety Code section 11350 the defendant must be aware of the presence of controlled substance and knew its nature or character as a controlled substance. Therefore, knowledge is an essential part of this crime. In case the defendant wasn’t aware that the possessed drugs were illegal, he must be acquitted of illegal possession
Possession of controlled substances under Health and Safety Code 11350 is misdemeanor. Penalties for conviction are the following:
If the defendant has prior convictions for especially serious felonies, gross vehicular manslaughter while intoxicated, sex crimes against a child under 14, or sexually violent offenses he will face felony penalties such as sixteen months, two or three 3years in prison. Additionally, in case the defendant is not a citizen of the United States, a conviction for possession of illegal drugs can lead to deportation, denial of reentry and denial of naturalization.
For answers to any other questions you may still have about California Health and Safety Code 11350, about being present while controlled substances are used, or to discuss your case confidentially with our team of experienced California criminal defense attorneys, give us a call at (310) 943-1171. Our lawyers in Glendale, Los Angeles County, CA, are highly dedicated to serving the needs of our clients.
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One of the questions that might come to mind is whether or not you actually have any say as to how often or what kinds of data companies can collect from you. Unfortunately, the answer isn’t as cut and dry as a yes or no. The reality is that privacy laws vary immensely depending on the industry, type of service, and location of the company providing the app you are using. As such, the level of accountability and transparency that businesses must meet are quite different from one another. What this means in real world situations is that a customer cannot have universal demands or expectations from businesses and companies regarding their privacy. While this is hugely inconvenient, there is a silver lining in the form of your own decision making. Though you alone cannot control the laws governing the ins and outs of these companies, you can make an educated decision as to which services you choose to use and to what extent you wish to use them.
For example, upon creating an account for Gmail, Twitter, Facebook iCloud and the like, you will typically be presented with a series of options regarding data and diagnostics. While most folks usually just take the easy route and skip ahead using the default settings, it is definitely worth your time to stick around and explore a bit. By taking a second look at what you are agreeing to, you may notice a couple of things that genuinely surprise you. It’s amazing how much these companies can get away with gathering from your usage and many people probably would not be as comfortable using those services, if they understood the extent of the access these companies have regarding your private data. By taking a couple of minutes and reading up on your options while signing up, you can actually limit several major pieces of information that these companies have access to, such as browsing and crash data, frequency of use, and general statistics about your areas of interest and demographics.
As for the things you cannot control, there is little else you can do about that outside of finding another company that provides a similar service that values your privacy more than its data collection. Some things you can’t easily limit access to include anything the company exempts or says it needs from you in order to provide their service in their privacy policy and anything else that they can gather ‘publicly’ from your browsing or usage. Certain bits of information are personal but not identifiable, meaning that they cannot see who the data is from nor any identifying characteristics of the user. While it can definitely be scary to think of all the data these companies have collected from you, you should know that usually the data is only used internally. What this means is the company that collected your data while you used their app or service will only use that data to improve the quality and performance of their site or product. The upside of this is your data will not be pawned off to other companies, but the downside is that less and less businesses give you that level of privacy as an option.
The classic example of a company that is more than willing to sell and barter away their gathered information is Facebook. To be clear, Facebook is a company which has millions of active users and their database of users is quite diverse, covering many different spheres and communities. As such one would think that Facebook would understand and value their users’ privacy by respecting and protecting it...but no. Facebook instead takes the much more lowly route of simply hoarding as much user data as possible and then selling this data to third party companies for a massive markup and profit. Perhaps the most insulting aspect of this shady business practice is that it happens almost entirely in total secrecy, without any notice or heads up given to any of the user base. As a result of their recklessness, Facebook CEO Mark Zuckerberg has had to appear before Congress to explain the company’s actions and decision making processes, especially in light of recent hacks and security breaks which have exposed millions of users’ profiles, photos, friend lists, and other private data without their permission.
In light of these now public scandals, most consumers have reached a point where they just want to enjoy the services they need without a constant fear of being tracked and the worry of having their collected information leaked publicly. For your own privacy and security, we recommend to do some searching around to see if the particular apps and services you use have strong options for limiting the amount of data that can be gathered from your activity, as well as checking up on the overall reputation of that company as it is relevant to user privacy. Even a simple internet search can bring up any major scandals, side deals, security breaches, and common privacy concerns regarding any given company. By checking out some articles like this one here, you can learn so much more about how your data and privacy are treated on the internet and what you can do about it on your end.
Our goal here is to empower you with some of the basics regarding your rights to privacy and how data collection works on different platforms. At KAASS LAW, we stand with our clients and we believe that privacy is a right, not a privilege. If you have any other questions or concerns regarding your online privacy and how you can take control of it, don’t hesitate to get in touch with us. We invite you to reach out to us with any problems or cases you may have by giving us a toll free call at (310) 943-1171 to speak to one of our lawyers today.
On that note, non-disclosure agreements can help business and prevent this whole situation from ever arising by simply preventing your workers from disclosing or even talking about company secrets and confidential information. However, generic non-disclosure agreements are of little use to most businesses, because each company has its own niche and thus, its own secret information. As such, the best non-disclosure agreements are the ones which are specifically tailored to a company’s needs by an attentive business lawyer. That way, you can be sure that the non-disclosure agreement touches upon all of the relevant points for your company.
As far as non-disclosure agreements go, it’s always very important to be particular with what you outline in the contract. Tailoring the agreement to your needs is key to an enforceable and successful agreement that can hold up well in court. So, before making your employee sign your non-disclosure agreement, you’ll want to take a closer look at the contents of the agreement first. Make sure that your agreement mentions:
We Can Help
At KAASS LAW, our business law lawyers believe in our clients’ abilities to innovate within their industries. We stand by our clients by helping them draft up specific, tailored non-disclosure agreements to maximize the benefits that it can offer. Ensuring our clients’ commercial success is key for us and we demonstrate this by being with you every step of the way. Even in the event that information gets illegally leaked, we are here to make sure our clients get their due compensation in court. We invite you to give us a toll free call at (310) 943-1171 to speak to our California business attorneys today to see how we can help protect the most valuable assets of your business.
KAASS LAW, 815 E Colorado St #220, Glendale, CA 91205, (310) 943-1171
There are really only two kinds of trademark Office actions that we need to know about: non-final and final. If the issue is detected for the first time, the USPTO will issue a non-final Office action. In that letter, they explain what problems persist with your application and they give you, the applicant, a chance to address and fix those problems. If, on the other hand, you have failed to address the issues that the USPTO raised in a previous Office action letter, then they will send out a final Office action letter to you. The crucial difference is that you have more limited rights to respond to final Office actions. Thus, it’s important to take action earlier on.
There are plenty of reason you may have received an Office action during the trademark process, including:
Your Response Should Be...Prepared.
In your Office action letter from USPTO, they will specify how long you have to respond to their concerns. Typically, your response needs to get back to them within 6 months of the mailing date of the Office action letter, but you should still check because they can choose to give you a much smaller window of time. Importantly, whatever deadline they give you cannot be extended or prolonged, so it’s very important to know the exact date and to act before it passes. This is because if you do not respond to an Office action by its deadline, then the USPTO will think that you have abandoned your application. In other words, you won’t get your trademark registered, nor will you get your filing fees back. Thus, prompt and timely responses to an Office action letter are essential to getting your trademark or patent registered.
Another important thing to keep in mind is what exactly the letters says that the examining attorneys takes issue with in your application. Oftentimes, an Office action letter wants you to fix or address simple problems that are quite easy to deal with, like submitting a different specimen, or paperwork. Other times, the issues are much more convoluted and those will require a much more detailed response. For example, if the examining attorney think that there is a high likelihood of confusion between your mark and another registered one, then you will have to send in legal arguments that illustrate the differences between the marks.
When you do respond to an Office action letter, it’s of utmost importance that your response is well-thought out and that it actually addresses each and every single concern that the examining attorney has with your application. If you only address and respond to one of the issues that they raised but completely ignore or fail to respond to the rest, then you’ll probably receive a final Office action surrounding the rest of the issues. You should know that you can contact the examining attorney to ask for clarification on any of the issues they have raised, but they are not your lawyer and they will not help you create a response to those problems. Lastly, in the event that you do receive a final Office action, then the only way to appropriately respond is to address its concerns or to file an appeal with the Trademark Trial and Appeal Board.
While it can be incredibly demoralizing to receive an Office action letter instead of a notice that your trademark application was approved, you should not despair or lose hope. An Office action letter, does not mean that your trademark cannot ever be registered, just that there are some problems that need to be dealt with first.
At KAASS LAW, we work tirelessly with our clients to ensure that they send out the best possible application for their trademarks and patents, because we value the incredible originality and innovation in our clients’ work. By working with us, you already greatly reduce the chance that you will ever receive an Office action letter. But even if you do, we have your back. We will help you to break down the letter to make sure you understand what is being asked of you, and to respond effectively, ensuring that each of the points in the letter are appropriately addressed. If you or a loved one have received an Office action letter, or are considering submitting a trademark or patent application, we invite you to give us a toll free call at (310) 943-1171 to speak to our experienced Patent and Trademark lawyers today.
KAASS LAW, 815 E Colorado St #220, Glendale, CA 91205, (310) 943-1171
Publication does not actually mean that you are out of the woods just yet. Rather, it refers to a 30-day comment period which every aspiring trademark must undergo. Within that 30-day time frame, anyone from the public can voice their opposition to your trademark request. What that means is that even if the U.S. government has no issue with your trademark application, any person can theoretically state that your trademark may bring damages to their own brand and with that statement they could make their opposition to your trademark. However, once the 30-day window is over, the application gets sent back to the examining attorney for the final review stage. Once the application reaches this state, and provided that you correctly filed the paperwork indicating that your trademark is in use (meaning that your products and services were still being sold at the time the application got filed) then the examining attorney will issue your trademark registration and a certification will get sent out to you through the mail.
The entirety of this registration process for your trademark will take anywhere from 6-8 months time. It is a slow and steady process that involves a lot of down time while you wait for the next stages of the application to undergo final review but once it is all over, you will have successfully trademarked your product, brand, or service through the federal government. So, why would you want to go through that grueling process in the first place?
There are several major reasons why someone would want to obtain a federal trademark. Some of those important reasons include:
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At KAASS LAW, we believe in the spirit of individuality and in the power of originality. Your brand, your ideas, and your products deserve the protection and exclusivity that only a trademark registration can offer them, because it was your hard work and intellect that enabled you to create those ideas and services. Our team of experienced intellectual property and trademark lawyers will ensure the process is as quick and efficient as possible. We invite you to give us a toll free call at (310) 943-1171 to speak to our team today. Let us help you in this critical moment of your enterprise’s expansion.
Finally, prior to reaching a lasting agreement, a letter of intent, or LOI, must be produced by the seller, explaining the proposed sale at length. It’s up to the buyer to have the presence of mind to make sure that the purchase agreement contains the same terms as the LOI does to avoid any future discrepancies which may arise.
Stock purchase agreements get broken up into several sections that aim to define what certain terminologies mean and to describe how the transaction process works. The contents of a stock purchase agreement will typically resemble the following:
The first part of a stock purchase agreement is called the preamble. In it, the agreement is formalized and the respective parties are identified as well as the date of the contract and purchase. Typically, parties are referred to as either “seller” or “purchaser”. After these key points of information get stated in the preamble, the next section begins and it is normally called the Recital. This part serves as the main meat and bones of the agreement outline.
The definitions section is the first article on most stock purchase agreements as it defines certain key terminologies and phrases which will get used all throughout the agreement. All of the relevant terminology that gets defined will be either boldfaced or capitalized and they will usually be listed in alphabetical order. The attention to detail with the terminology definitions is very crucial, because while it can be very tempting to skip through this section, understanding exactly what these terms mean in the context of the purchase agreement is key since it can drastically impact the meaning of the agreement. Therefore, you really should take the time to read through the whole section so as to familiarize yourself with the wording and its meanings within the agreement. In particular, words such as “liabilities”, “material adverse effect”, and “seller’s knowledge” can all have huge effects on the contract just depending on how they are defined in a particular context.
In this part of the agreement, the exact terms of the sale will be outlined at length. It will contain a part that refers to the seller transferring ownership or selling to the purchaser or the buyer acquiring from the seller some specified amount of shares. Further, the purchase price and any adjustments made to it will be clearly shown here, including:
In this segment, the seller’s warranties are stated expressly and get defined. Untruthful or incorrect representations of warranties can result in the liability of whichever side made the statements. This may include statements concerning past and future facts related to the business, such as:
For the most part, this part of the agreement is identical in function to the previous section, except that it focuses on the warranties and representations from the buyer’s side. Oftentimes, these two sections mirror each other quite closely. Since the buyer usually pays cash for the stock, their warranties may be more limited than the seller’s.
Most deals have a set time frame from when the parties agree to sign off and the actual closing. Because of this limitation, the covenants segment of the agreement outlines things that each party should avoid doing during that time frame. Typically, this translates into a long list of actions that need to happen during that time period in addition to some actions which are outright prohibited until the closing of the arrangement.
This part of the agreement is comprised of terms and conditions that either need to be met or waived prior to the time that the arrangement closes. These conditions often include both sides carrying out their pre-closing covenants and ensuring that all terms are fulfilled.
Article seven aims to clarify indemnification rights by stating the terms whereby the other party gets compensated just in case one party breaches their contract. It will also typically include a section discussing the losses that may arise from specific cases. You can expect this section to talk about:
In the eighth article, you’ll encounter details about each party’s right to terminate the contract. This will typically cover some of the follow reasons for termination:
The final section of an agreement will always end with a section that goes over any miscellaneous provisions. These provisions touch base on several subjects, like:
Stock Purchase Agreements matter because they articulate the terms of a sale and they put it into writing. They can prevent arguments or misunderstandings that would otherwise end up in court. Furthermore, the agreement also gives the buyer more faith in the transaction since the seller has the chance to describe why they are selling. Lastly, it also details other important details, such as warranties, dispute resolution means, and covering costs when unexpected problems cause loss.
Admittedly, there are few situations where having a Stock Purchase Agreement wouldn’t be useful, such as:
Even then, however, an SPA can only help, never hinder you.
There are a few instance as to why a Stock Purchase Agreement is crucial to use, which may include the following situations:
Some common mistakes that people make is thinking they don’t need to make a Stock Purchase Agreement because the person they’re selling to is someone known. That decision affects your whole company, so there’s no room to leave things to chance or faith. Similarly, simply filling out a pre-made stock purchase agreement template from the internet is probably not a great idea either as it likely won’t contain all of the relevant clauses needed for your business. It’s always best to have legal professionals craft your document after meeting with you to assess the individual needs and interests of your business. That’s where we can help you.
We have extensive experience with drafting and filing Stock Purchase Agreements for our clients. We invite you to give us a call at (310) 943-1171 to speak to a California corporate attorney today. Our lawyers in Glendale, Los Angeles County, California, will ensure that your transactions are always in your best interest.
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