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P.S. — 2024 DFW Pro Bono and Diversity Award Nominations Now Welcomed

The Association of Corporate Counsel’s DFW Chapter and The Texas Lawbook are seeking nominations for the 2024 DFW Corporate Counsel Awards for Achievement in Pro Bono and Public Service, Achievement in Diversity and Inclusion and Create Partnership. The awards recognizing pro bono and diversity celebrate the efforts and successes of corporate in-house counsel who use their positions to serve their communities and the legal profession.

This week, P.S. also highlights Texas Veterans Legal Aid Week and efforts by Texas Access to Justice, legal aid programs, local bar associations and law schools providing free legal services to qualified military veterans in Texas.

Fort Worth Jury Convicts E-Discovery Firm of Class B Misdemeanor

Consilio, which claims to be the largest e-discovery firm in the world, committed a Class B misdemeanor offense when it accessed a woman’s computer without consent, a jury recently determined. Rob Miller of Miller Copeland, who represented the plaintiff, told The Texas Lawbook he believes this is the first lawsuit of its kind to be decided by a jury.

East Texas Jury Clears Nokia In Patent Case

A federal jury in Marshall deliberated about an hour and a half Wednesday before returning its verdict for Nokia. Correct Transmission had sought to prove Nokia infringed on three of its patents and should pay about $35 million.

Foley Advises TGI Friday’s in Bankruptcy Filing

TGI Friday’s Inc. and 23 of its subsidiaries filed for Chapter 11 bankruptcy protection in the Northern District of Texas over the weekend. In its bankruptcy petition, TGI Friday’s claims $100 million to $500 million in debts and the same range for assets. The Dallas-based company owns 39 actual bar-and-grill restaurants across the U.S. None of the TGI Friday’s franchised operations are part of the Chapter 11.

Joint Ventures Demystified — A Practitioner’s Guide to Structuring Successful Partnerships

In today’s global business environment, market participants continuously seek innovative ways to grow their businesses, obtain capital to execute their business plans and leverage shared resources. One popular strategy is forming a joint venture, which is a business arrangement where two or more parties pool resources to achieve a common commercial goal. Structuring a JV is complex, and success hinges on careful planning, negotiation and management, as poorly structured JVs can lead to conflicts, inefficiencies and ultimately failed outcomes.

This article explores several key issues to be addressed when forming a joint venture and provides a roadmap for avoiding some common pitfalls that derail many partnerships. By carefully defining a JV’s scope, negotiating for appropriate consent rights, protecting against leakage from affiliate agreements, addressing fiduciary duties and establishing clear transfer provisions, parties can create a JV structure that helps to ensure alignment and maximizes the likelihood of success for all involved.

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