Disputes between business partners can strain even the most successful ventures. When a partner’s actions, performance, or behavior threaten the health of the business, removal or resignation may become necessary. In Claremore and throughout Oklahoma, the process of making a business partner resign from a partnership depends on the structure of the business, the terms of the partnership agreement, and the state’s…
When you own a closely held business in Oklahoma—especially one with multiple partners or shareholders—a buy-sell agreement is one of the most important legal documents you can have. Often called a “business will,” this agreement sets out what happens if an owner leaves, retires, dies, or wants to sell their interest. Without it, the company could face disputes, valuation battles, or even…
In Oklahoma business law, many relationships—such as those between business partners, members of an LLC, or corporate officers and shareholders—are built on fiduciary duties. These duties require individuals in positions of trust to act with honesty, loyalty, and care toward others in the business. When fiduciary duties are breached, it can lead to lawsuits, financial losses, and the breakdown of business…
An easement is a legal right for someone to use part of another person’s land for a limited, specific purpose. It doesn’t give ownership of the land—just the right to use it in a certain way. People have easements because they solve practical problems or allow necessary services. Here are some of the most common types of easements recognized under…
Trying to handle a breach of contract can be a stressful experience, as contracts form the backbone of business relationships in Oklahoma. But what happens when the other side doesn’t hold up their end of the bargain? Understanding how to handle a breach of contract from a business owner’s perspective can save you time, money, and stress. Step 1: Identify…
We often get questions about possible defenses in a breach of contract case. Being accused of breaching a contract can have serious financial and legal consequences. However, not every breach claim results in liability. Under Oklahoma law, there are several defenses that may protect you or your business if you are facing a lawsuit for breach of contract. 1. Lack…
Understanding the role of an operating agreement in your LLC is key. Starting a Limited Liability Company (LLC) in Oklahoma is a popular choice for entrepreneurs and small business owners because of its flexibility and liability protection. One key document that often gets overlooked is the operating agreement. While Oklahoma does not legally require every LLC to have one, an operating…
In Oklahoma, a verbal contract—also called an oral agreement—can be legally enforceable under certain conditions. However, that doesn’t always mean they’re a good idea or should be an alternative to written contracts. Understanding when they are valid and how to prove them is important for avoiding legal disputes. What Makes a Contract Valid in Oklahoma? Whether written or oral, a…
If you’re starting a business in Oklahoma that involves multiple assets or lines of business—like real estate, investment properties, or franchise operations—you may benefit from forming a Series LLC. Oklahoma is one of a growing number of states that recognizes this unique business structure. In this article, we’ll explain how to form a Series LLC in Oklahoma and why it…
Winding down a business partnership can be just as significant—and complex—as starting one. Whether the split is amicable or the result of a dispute, properly winding down a partnership in Oklahoma helps protect your financial interests, limit liability, and avoid future legal complications. Fortunately, Oklahoma law provides a clear process to follow. Here’s what you need to know to wind…