Fortis Blog

Noncompetes When Buying a Business: Overreaching Hurts Buyers More than Sellers

By Dustin Rickett Nearly any deal regarding the sale of a business includes covenants prohibiting sellers from competing with the business they just sold. Most buyers (understandably) are nervous that a seller may decide to open up a new shop in the same industry – thereby materially devaluing the purchased company. This often leads to buyers looking for noncompete restrictions with the broadest scope possible. Be wary, however, because if

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Client Alert: The Corporate Transparency Act Goes Into Effect January 1, 2024

By Kaitlyn Dehmer The Corporate Transparency Act (the “Act”) aims to prevent, among other things, money laundering and tax fraud. The Act requires certain entities to submit beneficial ownership information to the Department of Treasury’s Financial Crimes Enforcement Network (FinCEN).   Who Will It Affect? Reporting companies are required to report beneficial ownership information.  A reporting company is defined as any entity created by a filing of a document with a

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Thinking About Buying a Business? Your Top FAQs Answered by an M&A Attorney

By Andrew Comer Not everyone who dreams of owning a business is interested in starting their own company from scratch. That’s why buying an existing business is the best way for some people to begin their entrepreneurship journey. But if you’ve never done it before, you likely have a lot of questions! How do I find a business to buy, how do I finance it, and what pitfalls do I

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The Supreme Court Clarifies the Appropriate Standard for Undue Hardship in Title VII Religious Accommodation Cases

By Leni Plimpton Most employers know that Title VII of the Civil Rights Act of 1964 prohibits discrimination on the basis of religion in hiring and in the workplace. Under the law, an employer must reasonably accommodate “all aspects of religious observance and practice, as well as belief,” unless the employer can demonstrate that an accommodation would cause undue hardship to the business. Until now, the governing standard for an

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What To Do When Your Business Gets Sued

What To Do When Your Business Gets Sued

By Michael Annerino Litigation can be a stressful experience for a business owner. In some cases, the attorney fees and damages a small business must pay during litigation can jeopardize the business’s future. With so much on the line, figuring out where to start can be daunting. However, understanding the right steps can help protect your business, mitigate potential damages, and minimize attorney fees. 1.       Contact an Experienced Attorney

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Should Your Contract Include an Arbitration Clause Exploring the Advantages of Arbitration

Should Your Contract Include an Arbitration Clause? Exploring the Advantages of Arbitration

By Michael Annerino Arbitration clauses, often tucked away in the fine print of contracts, are powerful tools for resolving disputes efficiently and fairly. While they may not be as glamorous as other contract terms, they offer a number of advantages. Here are three reasons to consider including an arbitration clause: 1.       Control Over the Process One of the primary advantages of arbitration clauses is that they allow the parties

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Colorado Bans Age Questions in Hiring

Colorado Bans Age Questions in Hiring

By Kaitlyn Dehmer Earlier this year, we flagged a new bill making its way through the Colorado State Senate, known as the Job Application Fairness Act (the “Act”). On June 5, 2023, the bill was signed into law. Starting July 1, 2024, on initial employment applications, an employer may no longer request or require an individual to include their age, date of birth, and dates of attendance at, or graduation

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Yes, Even Angel Investors Need an Attorney

Yes, Even Angel Investors Need an Attorney

By  Dustin Rickett Being an angel investor is an exciting journey filled with opportunities, risks, and countless decisions. As you navigate the world of startup investments, building a solid foundation for success is crucial. While you may be a savvy investor with a keen eye for potential, you should seriously consider adding an attorney to your team. Before you roll your eyes too hard at an attorney advising you to

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If I Win a Lawsuit, Must the Losing Party Pay My Legal Fees?

If I Win a Lawsuit, Must the Losing Party Pay My Legal Fees?

By Charlie Carlin At Fortis Law Partners, we frequently help clients who entered into business transactions that later went sideways. When that happens, we guide our clients through determining whether or not it makes sense to sue the other party for breach of the contracts. To determine that, we must help our clients weigh the cost of the lawsuit—the bulk of which will come from attorney fees—against what they can

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Good Faith and Fair Dealing in Contracts

Good Faith and Fair Dealing in Contracts

By Charlie Carlin The general rule in Colorado is that every contract contains an implied duty of good faith and fair dealing. See State Farm Mut. Auto. Ins. Co. v. Goddard, 2021 COA 15, ¶ 29, 484 P.3d 765, 772; Alpine Bank v. Hubbell, 555 F.3d 1097, 1104 (10th Cir. 2009). This means that if the contract confers discretion on how the parties must perform under that contract, there is

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