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A carefully drafted letter of intent (LOI) is a critical part of any business transaction. After the parties have met, discussed ideas and basic business parameters, it is time to reduce these discussions to paper. The LOI is a way to move the transaction forward from initial informal discussions to a more detailed exchange of both the legal and business requirements of the proposed transaction.
The United States Department of Labor (DOL) issued a Final Rule effective today, March 11, 2024, that provides employers a framework to analyze if the worker they just hired should be classified as an employee or as an independent contractor. First, why does this...
On January 1, 2024, the Corporate Transparency Act (CTA) went into effect and requires companies that qualify as "reporting companies" to identify their "beneficial owners". However, on March 1, 2024 a federal court ruled that the CTA is unconstitutional because it...
Effective January 1, 2024 most businesses will need to comply with the new Corporate Transparency Act. This law is designed to peel back the onion and allows law enforcement access to the identity of individuals who exercise control over covered entities suspected of committing financial crimes such as money laundering, and tax evasion.
Employers in Pennsylvania using video or audio recording in the workplace must navigate intricate privacy rights. This piece dives into legal considerations, employee consent, and best practices for Pennsylvania’s two-party consent laws, ensuring a compliant and respectful work environment.
The DOJ expects that companies will revise corporate policies to reflect the current reality that employees use their personal devices and third party apps to communicate with respect to business matters. Companies need to make sure their personal use and record retention policies comply or face the possibility of large fines.
Remote covid employment eligibility verification will end on July 31, 2023. Employers need to physically inspect I-9 identity and eligibility documents that were reviewed remotely to remain compliant and avoid fines.
This post discusses the basic legal and emotional considerations that go into a business owner selling his or her business. Whether structured as a stock or asset sale, the business owner must consider the categories of information identified in this blog and also be prepared for the unexpected emotional aspect of selling as well.
Your business lease plays a key role when it comes time to sell your business. Careful attention needs to be given prior to signing so your lease allows assignment based upon objective criteria. Otherwise, you risk your landlord extracting painful concessions to allow the transaction to proceed.
Introduction to Noncompete Agreements Employers have traditionally used noncompete agreements to protect their confidential and proprietary information by preventing a former worker from working for a competitior subject to certain geographic scope, duration and...