Purchases:

  • Use credit cards whenever possible, instead of a debit card or check
  • Check your credit card and bank accounts on a daily basis to catch fraudulent charges early
  • Be aware of scam emails from retailers and online stores that you frequently buy from

Travel:

  • Control your luggage and carry on items at all times, even when you are sleeping
  • Purchase luggage that has anti-theft protection and that can be secured in a hotel room
  • Mark your bags clearly with your name and work address as opposed to your home address

Mall Parking:

  • Park in well lit and high traffic areas
  • Do not leave gifts, purses, backpacks or computer bags in clear view
  • Do not carry large purchases and bags to your vehicle alone
  • Ask for an escort from store personnel or security if necessary

Vacations:

  • Set your lights to go on at various times
  • Have your mail sent to the Post Office
  • Have a neighbor or friend remove newspapers or flyers from your driveway and porch

It’s almost Bill’s birthday! He’s hoping there won’t be any surprises. After putting in long hours at work all week, all he wants this year is a quiet family dinner and a relaxing evening at home.

Bill’s friends and relatives have a different idea. They are busy planning a surprise birthday party eagerly awaiting his reaction.  After the initial shock wore off and Bill got his second wind, he thought to himself this is pretty fun.

Bill found out the hard way, being surprised in business and legal matters is anything but fun.   He got the surprise of his life when he found out that his faith and trust in Tom, his business partner, had been misplaced.

Bill thought that he could trust Tom, since they had been friends and business partners for years.  They had worked together building a successful medical supplies company. The long hours, risks and rewards had been always been equally shared over the years.

Then the unthinkable happened.  Due to some unusual circumstances, Bill had to turn over sole control of their company to Tom. Bill had no reason to think that Tom would do anything other than continue to run the company with the best interests of each partner, their employees and clients in mind.

Imagine his shock and surprise when Bill found out that Tom had setup a replica company selling the same products under a new name. He even listed highly creditable, well-known, credentialed individuals as team members on his new web site.  Tom proceeded to steal clients, assets and the good will created by Bill.  The original company was forced to fold and Bill had the unthinkable task of explaining the unraveling to the investors.

Take Away

In an age of information overload, getting accurate, complete and timely facts can be a challenge, but a basic background or due diligence investigation would have saved Bill and his company.

Thank you to the paralegals and staff at Carothers, DiSante & Freudenberger, LLP for welcoming us.  We enjoyed sharing ideas during the roundtable session with such bright and experienced professionals!