In this episode, Chris White, an attorney in rural Ohio, tears down Anadarko’s standard oil and gas lease. It’s a study in negotiating power, carefully-defined terms, and super long sentences. Chris gives some hard-earned wisdom about protecting rural landowners who are too often powerless. So, let’s tear it down.
When an employee leaves a company, they usually take with them proprietary secrets and other insider knowledge. In order to protect the business, many employers have their soon-to-be former worker sign a confidential separation agreement. These allow both parties to move forward with a shared understanding of what constitutes privileged information. They also clarify other important parting business, such as what the company considers to be non-competition and what constitutes a fair severance package.
The LLC, or Limited Liability Company, is a unique business entity that has many financial and social benefits. Falling somewhere between a general partnership and a more formal corporation, the LLC creates a layer of protection for individual members and offers great tax incentives. For these reasons, an LLC is a common way to structure small businesses with more than one owner.
