Author name: Jo

The sale of a business is often a starting point for the business owner to gather and organize business records. Until then, record-keeping and document archiving usually take a back seat. As the business expands and contracts, employees come and go, and hundreds of policies, contracts, and agreements are adopted and signed, it is easy […]

The U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) recently issued a final rule establishing beneficial ownership information reporting requirements pursuant to the Corporate Transparency Act (CTA) adopted by Congress on January 1, 2021. FinCEN estimates that the final rule implementing these requirements will impact more than 32 million existing entities. The rule takes effect on

On January 5, 2023, the Federal Trade Commission (FTC) proposed a new sweeping rule banning employers from imposing non-compete agreements on their employees. If implemented, the proposed rule would nullify most existing non-compete agreements and ban new ones, releasing millions of U.S. workers from the restrictive contracts. Scope of The Proposed Rule The proposed rule

Even though few states (including Delaware) require a written operating agreement for a limited liability company, it is a good business practice to adopt one to avoid being subject to the state’s default (statutory) LLC rules. An operating agreement is a customized document that sets the groundwork for how the business will operate. Thus, the

If you are starting a new company or are concerned about how future events may impact the management and control of your existing business, consider if a buy-sell agreement should be a part of your business plan. A buy-sell agreement is a contract between an entity and its members that establishes an orderly succession plan.

The complexity of a joint venture varies depending on its legal framework, the level of capital the parties contribute, and the total scope of the project. A joint venture can be based on a contractual relationship. It may also involve the formation of a separate legal entity that would dissolve after the project is complete.