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In this article we explain how to determine value for buy-sell agreements.
In this article, we explain how to fund a buy-sell agreement. We answer the question, “how do buy-sell agreements work?” and explain alternative methods to raise capital for buy-sell agreements, such as: using life insurance to fund a buy-sell agreement, using a cash account to fund a buy-sell agreement, using a bank loan to fund a buy-sell agreement, and using installment payments to fund a buy-sell agreement.
In the world of closely-held corporations and LLCs, the question of when stock transfer restrictions prove beneficial looms large. As our business attorneys delve into this complex terrain, they uncover not just the answer, but a roadmap for structuring these restrictions effectively. From approval processes to rights of refusal, the key lies in a nuanced approach that safeguards both business interests and shareholder intentions. By understanding the intricacies and advantages of these restrictions, businesses can navigate ownership changes with clarity and confidence.
For those of you who have not hired an attorney before, the idea of having an attorney review a contract may seem expensive and intimidating — it shouldn’t be.
The purpose of this article is to shed some light on the process of contract review.
Step 1 – Opinion Letter:
Step 3 – Communicating Proposed Changes to the Other Party:
The last year and a half has been incredibly challenging for everyone with the advent of the COVID-19-19 virus. Everyday there is new information and rigorous debate regarding the COVID-19-19 virus and how it should be handled. With the constantly shifting landscape of information, misinformation and personal, scientific, religious and political opinions, it can feel like we are taking one step forward and two steps back as we all try to stay healthy, safe and happy.
In this article, we will discuss one of two new rules released by the Department of Homeland Security (DHS) that seeks to modify the H1-B Nonimmigrant Visa Classification, a visa commonly used by employers to acquire highly skilled workers from other countries. We will answer the following questions: what is an H1-B Visa?, what is the” Interim Final Rule Making” process?, how will this new rule affect those seeking an H1-B visa?, and how are employers responding to this new rule?
In this article we will explain what an Employee’s Rights are When Laid-off or Fired including: What does it mean to be an at-will employee?, Does an employer need to provide notice prior to my termination or lay-off?, What is a for cause termination?, What should I do if I was wrongfully terminated?, Does the size of my employer impact my rights?, Am I entitled to severance pay?, and Am I entitled to unemployment?
In this article we discuss business succession planning and explain how to use buy-sell agreements to plan for an owner’s retirement. We explain three different options to plan for a business owner’s retirement with buy-sell agreements, including: the company purchasing a retiring owners shares through a lump sum payment, the company purchasing a retiring owner’s shares through installment payments, and the gradual transfer of a retiring owner’s shares to the next generation.
There are three general categories of intellectual property that can be protected under U.S. law: Trademarks, Copyrights, and Patents.
Trademarks protect a business' name, logo, or slogan from use by other businesses. Patents protect a discovery, invention, or idea. Copyrights protect original works of authorship such as writings, photos, music, movies, software, and architecture.
Original works of authorship may be copyrighted whether they are published or unpublished. Your work is protected by copyright automatically as soon as it is "fixed in a tangible medium." This does not mean that a hard-copy of your work needs to be created in order to receive the benefits of copyright protection. So long as the work can be perceived with the aid of a device such as a computer, the "tangible medium" requirement has been met.
There are three general categories of intellectual property that can be protected under U.S. law: Trademarks, Copyrights, and Patents.
Trademarks protect a business' name, logo, or slogan from use by other businesses. Patents protect a discovery, invention, or idea. Copyrights protect original works of authorship such as writings, photos, music, movies, software, and architecture.
Original works of authorship may be copyrighted whether they are published or unpublished. Your work is protected by copyright automatically as soon as it is "fixed in a tangible medium." This does not mean that a hard-copy of your work needs to be created in order to receive the benefits of copyright protection. So long as the work can be perceived with the aid of a device such as a computer, the "tangible medium" requirement has been met.
The purpose of this article is to educate small business owners regarding the two types of corporate entities that are particularly preferable for small businesses: the Limited Liability Company (LLC) and the Corporation.
A professional limited liability company is a focused type of limited liability company that is meant for licensed professionals, such as dentists, chiropractors, physicians, accounters, architects, etc. PLLCs exists because many states do not allow LLCs to be formed by professionals whose work requires a license. In this article, we discuss the difference between a PLLC and an LLC, forming a PLLC, and what to do after forming your PLLC.
A fiduciary duty is a type of law applied to individuals who act on behalf of and in the best interests of someone or something else. Essentially, it is an obligation of trust from the person acting on behalf of another aka fiduciary, to the one for whom they are acting. In terms of businesses and corporations, a fiduciary duty is an obligation to act in good faith, with the care of a reasonable person in a similar position and the belief that their decisions are in the best interests of the company and its shareholders.
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