Joyce & Graddy, PLLCFindLaw IM Template2026-06-04T23:15:29Zhttps://www.joycegraddy.com/feed/atom/WordPress/wp-content/uploads/sites/1201949/2022/04/cropped-site-icon-32x32.pngOn Behalf of Joyce & Graddy, PLLC<![CDATA[Understanding commercial leases]]>https://www.joycegraddy.com/?p=561582026-06-04T23:15:29Z2026-06-04T23:15:29Zcommercial lease is much different than a residential lease. Commercial leases are usually negotiated and may place major financial duties on the tenant in addition to the lease payment.
Net lease terms
One of the most common structures of a commercial lease is a net lease. These are termed single net, double net and triple net leases. Those terms have to do with the number of added expenses the tenant is responsible for. These can include property taxes, insurance and maintenance.
In addition to those “net” terms, some commercial leases also require the tenant to pay for utilities, repairs and common area expenses. Another addition, which is common for food service business, is a percentage of the profit of the business.
The commercial lease should clearly state the base lease amount, as well as all expenses the tenant is responsible for paying. It should also include how these expenses are calculated, billed and documented. Some commercial leases will have caps on how much the tenant can be billed.
Commercial leases are often complex, so it’s best for anyone who’s considering signing one to have someone on their side who can review an entire lease. It’s best to do this early in the process so a plan can be made for any negotiations that might be necessary.]]>On Behalf of Joyce & Graddy, PLLC<![CDATA[Key areas to address in a partnership agreement]]>https://www.joycegraddy.com/?p=561572026-05-21T18:37:40Z2026-05-21T18:36:30ZIf you decide to start a business partnership with another person, even if the two of you are on good terms, it can be helpful to have an official contract in place. This is known as a business partnership agreement.
For one thing, the agreement helps reduce the chances of conflicts and disputes. At the same time, it can list preferred dispute resolution tactics. If you do run into conflicts in the future, simply having a partnership agreement helps show you how to move forward and find a resolution.
Ownership percentages
One key detail to address in the partnership agreement is the percentage of ownership controlled by each partner. This is important when making decisions, if one person is going to be a majority owner. It is also important when selling the business and dividing up equity.
Profits and losses
On top of that, you can define how profits should be distributed or how losses should be addressed. Similarly, the agreement can specify what types of financial contributions are expected from both partners.
Roles and responsibilities
Furthermore, you can address authority issues, roles within the business and the different responsibilities that both partners will have. Conflicts often happen because roles are not clearly defined, and one partner believes the other is overstepping the bounds of their authority. Simply by sitting down in advance and defining each role, you make these conflicts much less likely.These are certainly not the only areas to address in a partnership agreement, but they give you a good place to start. Make sure you know what legal steps to take while drafting all applicable documentation and starting your new business.
]]>On Behalf of Joyce & Graddy, PLLC<![CDATA[Why are driving distractions so hard to avoid?]]>https://www.joycegraddy.com/?p=561562026-05-12T16:00:54Z2026-05-12T16:00:54ZEvery year, many people are involved in accidents that are ultimately caused by distracted driving. Another driver was not paying close enough attention to the road and made a mistake that caused the crash.
Some driving distractions are admittedly easy to avoid. If someone is texting and driving, for instance, they chose to respond to that text message. They could have ignored it until they arrived at their destination. They could have turned their phone off, so they did not even know that the notification existed.But not all driving distractions are so easy to avoid, which is part of the reason that these accidents keep happening.
Children in the car
For instance, some researchers determined that having children in the car was a greater distraction for parents than trying to use their phone while driving. But a parent who has to transport their children to and from school every day may find it nearly impossible to avoid this distraction.
Daydreaming behind the wheel
Other reports found that many drivers were distracted just because they were getting lost in thought. The issue here is that the driver does not intentionally decide to start daydreaming. They are not even conscious of the issue in the way that they are with a distraction like texting and driving. So they may not realize they are distracted until they have already made serious driving mistakes.As you can see, distracted driving accidents are likely to continue, despite growing awareness around these issues. If you have been injured by another driver, you may deserve compensation for medical bills and other damages.
]]>On Behalf of Joyce & Graddy, PLLC<![CDATA[Why your Tulsa business is one “life event” away from a shutdown]]>https://www.joycegraddy.com/?p=561552026-04-28T08:00:33Z2026-04-28T08:00:33ZProtecting ownership during ownership transitions
The stability of a local company depends on who holds voting power. A buy-sell agreement sets the rules for how ownership interests move when someone leaves. Without these rules, a departing partner might sell their share to a competitor or an outsider.
Business owners use these protective measures during:
Voluntary departure: A partner retires or starts a new venture
Involuntary exit: Personal bankruptcy or legal judgments threaten company assets
Health crises: Disability or death prevents a partner from working
Internal disputes: Total disagreements stop founders from working together
Setting these rules early ensures remaining owners keep control. This control relies on a fair way to value ownership interests.
Establishing clear valuation methods
Valuing a private company during a dispute often leads to lawsuits that drain growth. A buy-sell agreement stops this friction. It names a specific formula or requires appraisals by experts. This clarity prevents a departing owner from demanding too much or the remaining owners from offering too little.
Consistent valuation helps startups in the Tulsa tech corridor where markets shift fast. Partners who agree on a price today avoid the strain of negotiating under pressure later. These blueprints help the company plan how to pay for a buyout.
Funding the transition of shares
Knowing the price only helps if the owners have the cash to buy the shares. Many Tulsa founders use life insurance or cash reserves to ensure money is ready when an event occurs. This plan helps the business avoid selling equipment or taking on debt to pay a former partner.
The buyout structure usually follows two paths:
Redemption agreements: The business entity buys the departing owner's shares
Cross-purchase agreements: The remaining owners buy the shares directly
Funding these paths ensures the transition does not disrupt work or scare investors. By securing capital, founders create a predictable environment for success.
The silent architect of business longevity
A buy-sell agreement shields a company from internal disputes. Understanding these legal principles helps entrepreneurs focus on growth rather than conflict. Local firms remain resilient when they address these risks before they become urgent.
Owners who use these documents early gain the freedom to scale with fewer risks. Reviewing your needs with a professional ensures the agreement hits your long-term goals. Addressing these details now protects your legacy before a crisis dictates the terms.]]>On Behalf of Joyce & Graddy, PLLC<![CDATA[What is a “break clause” in a commercial lease?]]>https://www.joycegraddy.com/?p=561532026-04-27T09:53:31Z2026-04-27T09:53:31ZWith a commercial lease, a break clause can be used to allow one party to end the lease sooner than it would have naturally ended on its own. This is often referred to as an early termination clause.
Without such a clause in place, both the landlord and the tenant are generally bound by the terms of the lease until it expires. If someone signs a three-year commercial lease, they are obligated to continue making payments for that entire duration, unless they negotiate an early exit. But if there is a break clause in place, it can give them some options to get out of the lease early, releasing them from this legal obligation.
Why would a tenant want to break a lease early?
There are many reasons why a tenant may want to get out of a lease early.For instance, the clause could be written to state that the commercial business has to meet certain income or revenue thresholds. The tenant may not be sure that this is an ideal location for their business, and the lease is only going to be affordable if they are bringing in a consistent amount of revenue. If they fall short and it proves to be a poor location, they may want to end the lease early so that they can relocate the business and have success elsewhere.On the other side of the equation, a landlord could also be interested in using an early termination agreement. The value of the property may go up, especially if it is in a developing area. The landlord may want to be able to get out of the lease or renegotiate the terms based on rising property values.These are just two different examples to keep in mind, and every situation is unique. But it helps to show why it is so important to understand the legal details of a lease, including any clauses that may or may not be used. It can help to work with an experienced attorney while drafting and negotiating these documents.]]>On Behalf of Joyce & Graddy, PLLC<![CDATA[What to know about mineral rights when buying Oklahoma property]]>https://www.joycegraddy.com/?p=561522026-04-07T20:07:23Z2026-04-07T20:07:23ZThere are a lot of valuable natural resources under the ground in many parts of Oklahoma. Those who own property that sits on land with oil, coal, natural gas and/or precious metals underneath need to know what kind of rights they have, if any, to what lies underneath.
If ownership of a property includes mineral rights, they’re known as “unified rights” and are included on the deed. Often, however, mineral rights are separate from “surface rights.” If one party has mineral rights while another has surface rights, the two are considered “severed.” That’s common in Oklahoma.
What a property owner needs to know if another party has mineral rights
It’s crucial for the party with the surface rights to know if the mineral rights owner plans to extract them since mineral rights take precedence in the U.S. According to one expert on mineral rights, the owner “has the right to explore, drill, mine and extract natural resources from the subsurface of your property without your permission.”There are also cases where mineral rights may be shared by multiple parties. For example, one party may have the rights to precious metals, while another may have oil and gas rights. It’s critical for property owners with surface rights only to know what they can and can’t do with their property. That’s where the “reasonable surface use” doctrine comes in. “Reasonable” use may mean that the destruction of any structures is prohibited.
Extensive research may be necessary before buying
Before buying a property, it’s important to know what’s underneath it and what kind of rights come with the deed. If the deed doesn’t include mineral rights, you should find out who owns those rights. That may involve some investigation and possibly a geological survey. Remember that even if nothing has been detected in the past, that doesn’t mean it might not be in the future – particularly with advances in technology. Real estate transactions in Oklahoma can be complex due to the abundance of valuable resources under our land. Having experienced legal guidance can help prevent unnecessary and costly complications.]]>On Behalf of Joyce & Graddy, PLLC<![CDATA[When does an injury justify filing a lawsuit?]]>https://www.joycegraddy.com/?p=561512026-03-22T01:53:57Z2026-03-22T01:53:57ZWhen losses are substantial
Significant injuries may generate medical costs high enough to exceed the insurance coverage available. If injuries require surgery, rehabilitative care or a lengthy stay in the hospital, then a basic insurance policy may not offer enough coverage for those expenses.
Policy limits determine the maximum compensation available. Insurance alone may not be adequate to compensate a person for the costs they incur, especially if an injury is serious enough to generate lost wages or permanently diminish a person's earning potential.
When insurance isn't available
Although insurance is mandatory for drivers and advisable for property owners and businesses, not everyone carries the coverage they should. Sometimes, people end up seriously injured and later learn that there isn't an insurance policy that can cover their losses. In such cases, litigation against the party at fault or third parties with partial liability may be the only way to cover injury-related expenses.
Estimating total losses and then evaluating options for compensation can be helpful for those concerned about the financial impact of a recent injury. The guidance of a personal injury attorney can help those with significant expenses secure the compensation they need to cover all of their costs.]]>On Behalf of Joyce & Graddy, PLLC<![CDATA[How injunctions can help plaintiffs during civil lawsuits]]>https://www.joycegraddy.com/?p=561502026-03-13T11:24:38Z2026-03-13T11:24:38ZInjunctions limit certain conduct
An injunction is essentially a court order requiring certain behavior or prohibiting specific conduct. Judges can issue preliminary injunctions before they review a case or at the end of litigation.
Preliminary injunctions early in the legal process may help prevent misconduct or transactions that might cause further damage to the plaintiff. Injunctions issued early in a divorce might prevent one parent from leaving the state with transactions that might cause further damage to the plaintiff.
In some cases, an injunction may be part of the final ruling entered by the judge hearing the case. Injunctions can also sometimes require specific behavior, such as the removal of a product listing from a website when that product may be the result of patent infringement. Injunctions can address the very issues that led to litigation and can create additional consequences for continued misconduct.
Those preparing for civil litigation may need to discuss the various remedies available with a lawyer. Requesting an injunction may be part of a broader legal strategy intended to protect an individual or business and hold an outside party accountable.]]>On Behalf of Joyce & Graddy, PLLC<![CDATA[3 estate planning must-haves]]>https://www.joycegraddy.com/?p=561492026-03-01T20:08:24Z2026-03-01T20:08:24ZTransfer-on-death (TOD) deed
In Oklahoma, property owners aged 18 and above can create TOD deeds for their chosen beneficiaries who can inherit their real estate property when they pass away. This estate planning document can be beneficial for streamlining the legal process by avoiding probate.
When you create a valid TOD deed, you can keep full ownership of your real estate property for as long as you are alive. This means that your beneficiary will have no rights to sell or rent out your property during your lifetime.
Living will
Also known in Oklahoma as “Advance directive for health care,” this legal document is a powerful tool that can help prepare for your future incapacity. When you have a living will, you can inform your healthcare providers and family members of your medical treatment preferences and end-of-life care directives.
Since your document can outline whether you want to be kept alive on artificial life support systems or not, it can also become a source of reassurance for your grieving loved ones. By honoring your final wishes, they can slowly accept that they did the right thing for you.
Living trust
Depending on your personal goals, your living trust can be revocable or irrevocable. With this estate planning tool, you can transfer your assets into a living trust and create your own terms or for your asset distribution process.
As the owner of the living trust, you can establish specific provisions for your beneficiaries based on their ages. For example, you want your grandchild to inherit your ranch, but only when they turn a certain age. With careful planning, you can work on your living trust’s sub-trust with an estate planning lawyer.
By enhancing your estate plan, you can protect your wealth
When you take the time to learn about the benefits of estate planning, you can become more knowledgeable with your choices and make smart decisions that can help protect your wealth and streamline your loved ones' inheritance process.]]>On Behalf of Joyce & Graddy, PLLC<![CDATA[What is alternative dispute resolution?]]>https://www.joycegraddy.com/?p=561482026-02-26T11:39:30Z2026-02-26T11:39:30ZSome contracts require alternative dispute resolution
Contract clauses mandating mediation or arbitration are relatively common. Many successful companies want to avoid court cases whenever possible. They may require that employees or clients work to settle matters outside of court instead of litigating.
Both arbitration and mediation allow for amicable and private resolutions to disputes. Arbitration involves each party presenting their perspective, and the arbitrator reaches a determination on the disagreement.
Mediation is a more collaborative process, where the parties have a conversation facilitated by a neutral third-party mediator. Both mediation and arbitration are confidential, meaning that information disclosed during alternative dispute resolution does not become public record.
They can both offer much faster solutions for disputes, which can also help reduce the total costs incurred. Even in cases where an agreement with another party does not mandate alternative dispute resolution, it may still be a viable option. Many business leaders and individuals can settle their disputes outside of court with the right support.
Discussing alternative dispute resolution with a legal professional can help interested parties evaluate their options. Settling out of court can be an empowering and cost-effective solution that limits the lasting damage disputes cause to working relationships.]]>