by William J. Piercy
The business judgment rule is a policy of judicial restraint born of the recognition that corporate officers and managers are generally more qualified to make business decisions than are judges and juries. While the business judgment rule has long been accepted in many states, until recently, it …
by William J. Piercy
A common misconception held by many entrepreneurs is that their ownership interests in a Georgia business entity can simply be revoked by the business or taken by other owners. Under Georgia law, an ownership interests in a business entity cannot be so easily lost.
All too often, disputes …
By William J. Piercy
A common issue faced by the corporate officials of a closely held company is whether they are obligated to pursue new all business opportunities presented to them on behalf of the company, or whether they may do so on their own or with others. A corporate opportunity …
by William J. Piercy
In Internal Medicine Alliance, LLC v. Budell, 290 Ga. App. 231 (2008), two physicians, Budell and Verbitsky agreed to create a medical practice together. They formed a new company, Internal Medicine Alliance, LLC, through which to run the business. Although IMA’s Articles of Incorporation …