Operational Excellence for Small Business Owners: Lessons Learned from Scafidi v. Hille
by Jennifer L. Villier, JD | Business Law Faculty, WealthCounsel
2015 can be considered the year of lessons learned for small or closely-held business owners as demonstrated by two compelling cases — Robl Construction vs. Homoly, No. 13-3607 (8th Cir. 2015) and most recently, Scafidi v. Hille, No. 2014-CA-01261-SCT (Dec. 10, 2015). In both cases, sloppy governance by the business owners resulted in prolonged and costly litigation. As painfully demonstrated in the Scafidi case, this could well have been avoided had the parties simply consulted an attorney to help them structure the businesses and understand the importance of written agreements, record keeping and maintenance.
Please download this Insight Brief to learn more about:
- The issues highlighted in Scafidi;
- Potential pitfalls your business clients might unknowingly face; and
- Ways that you can help them avoid these types of issues, including proactive planning and ongoing maintenance.
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