This case involves Plaintiffs who allege that the defendants negligently advised them that they could operate their international business brokerage as a license instead of a franchise. As a result of acting on this advice, the Plaintiffs faced numerous obstacles in their business that eventually proved insurmountable, forcing them out of business. The Defendants contended that they gave the plaintiffs the option of creating a franchise but that the plaintiffs decided to operate under a license system after being advised of the risks of doing so. It is alleged that the Defendants negligent advice directly contributed to the collapse of the Plaintiff’s business.
Question(s) For Expert Witness
1. Do you have extensive experience as a corporate/business attorney?
2. Please explain your experience advising on how client can operate a business?
Expert Witness Response O-009285
I have advised individuals in various business dealings for many years. I have drafted and negotiated numerous finder agreements, from both the broker side and the client side. In the state in which this incident took place, unlike in other states, a business of this type does not have to be licensed, though many will have a real estate broker license. Also, some business brokers also carry designations such as the Certified Business Intermediary (CBI) designation, which are generally given through certain business broker associations and function as a stamp of approval. I generally advise burgeoning business brokers to be honest about their experience: it is okay to not be experienced, but their clients should be aware of this. Clients should know what they are getting. I also do a lot of work on mergers & acquisitions, representing both buyers and sellers in stock and asset purchases.
About the author
Joseph O'Neill
Joe has extensive experience in online journalism and technical writing across a range of legal topics, including personal injury, meidcal malpractice, mass torts, consumer litigation, commercial litigation, and more. Joe spent close to six years working at Expert Institute, finishing up his role here as Director of Marketing. He has considerable knowledge across an array of legal topics pertaining to expert witnesses. Currently, Joe servces as Owner and Demand Generation Consultant at LightSail Consulting.
