Hunt & Associates P.C.

Nov 23, 2010

Life Insurance and Estate Planning Considerations for Individuals with Minor Children

The use of life insurance is an important tool in the estate planning process.  Married couples with children will obtain life insurance to make sure that that the surviving husband or wife and children are taken care of in the event of a spouse’s untimely death.  Divorced individuals may also have life insurance policies to ensure their children receive appropriate support following their death.… Read more

Nov 5, 2010

Indemnification and Limitations on Liabilities of Members and Managers of Limited Liability Companies under Oregon Law

When a legal claim is brought against the manager, member, employee or agent of a limited liability company one of their first questions is who will pay for their defense and any damages ultimately assessed against them for the claim.  They will generally look to the company itself to fund their defense and to pay any damages or settlement amounts to the claimant.  That is, they will want the company to indemnify them against the … Read more

Nov 4, 2010

When “Fair Value” is not Fair

The recent Oregon Court of Appeals case, Marker v. Marker, is a fine example of a case that could have had a different result with proper planning.  The facts are simple and common:  A father and son organized a trucking company in 1982.  Father owned 52 percent of the shares and Son owned 48 percent, meaning that Father essentially controlled the company.  Both are employees.  Over time, disputes arose between Father and Son and … Read more

Employee Non-Competition and Non-Solicitation Agreements in Oregon: A Critical Distinction

Oregon law imposes serious restrictions on employee non-competition agreements.  Unless certain severe conditions are satisfied, an employee’s agreement not to compete with their employer after their employment ends will not be enforceable.  However, Oregon law specifically exempts employee non-solicitation agreements from the legal restrictions governing the validity of employee non-competition agreements.  The distinction then between non-competition agreements and non-solicitation agreements is important.… Read more

Nov 3, 2010

Relief for Minority Shareholders under the Oregon Business Corporation Act

Minority shareholders in closely held corporations often feel trapped when there is conflict with the other shareholders.  Frequently the minority shareholder is unaware of the legal remedies available to them.  Specifically, ORS 60.951 et seq., the “Oregon Business Corporation Act”, which applies to corporations whose shares aren’t traded publicly or nationally, grants a court extensive power to impose legal and equitable remedies on the corporation and its shareholders including:… Read more