Most business owners have immediate goals for generating a respectable income and long-term goals of retiring to a comfortable, secure lifestyle. To accomplish the latter, you’ll likely want to either sell the business or structure a buy-out from key employees. Whichever route you chose, building the value of the business can generate game-changing rewards when you […]
Many states and localities have been adopting “ban-the-box,” prohibiting employers (including private employers) from asking applicants to disclose information concerning their criminal histories prior to an initial interview or a conditional offer of employment. Currently, all New England states except Maine and New Hampshire have a ban-the-box law that is applicable to private employers. Bills […]
Excerpted from a January 22, 2020 article by Megan Zwiebel in Anti-Corruption Report In part four of a series of articles concerning risk assessment programs, Anti-Corruption Report focused on what companies should do once a risk assessment is complete, and the strategies for avoiding pitfalls during the process. Drafting a ReportAccording to firm partner Kathleen Hamann, an […]
If the material has been properly copyrighted, it is generally illegal to copy it without permission. Does that mean that no one can ever legally use it without express written permission from the author or creator? Surprisingly, the answer is “no” in some cases… but not always. It all depends on the application of the “fair […]
Late last year, we summarized the many new employment laws with which Illinois employers would have to comply in 2020, including the requirement to provide sexual harassment training by the end of the year. Now that 2020 is not so new anymore, employers should begin preparations to comply, so they are not left scrambling later this […]
One of the most frequently asked questions is how long a company must retain employee records under various federal labour and employment laws. Here are the answers: Fair Labor Standards Act (FLSA) Under the FLSA, you must keep records for either two years or three years, depending on the type of document. Supplementary basic records (such […]
Small and medium-sized companies are particularly prone to employee theft because they typically don’t have the staff available to assign more than one employee to processes to help ensure that fraud doesn’t take place. Assigning more than one employee to certain tasks, also known as segregating duties, is one of the primary tactics that companies can […]
In an era of uncertainty, you can count on one thing: Time marches on. While you can’t beat Father Time, you can prepare for these age-related tax and financial planning milestones as you and your loved ones grow older. Don’t Overlook Estate Planning Regardless of age, almost all adults should do at least some estate planning […]
Not that long ago, it was considered distasteful to mention a competitor’s name or show its trademark in ads. Instead the advertising industry came up with phrases like “Brand X” and “The Leading Brand.” Diluting a Trademark Another issue to deal with in comparative ads is the trademark. It has long been understood that a competitor’s […]
Law Increases Whistleblower Shields Many corporations are focusing attention on the disclosure and accounting provisions of the Sarbanes-Oxley Act, but the law also contains new protections for employees and others who report suspected wrongdoing. Click “Full Article” for the rundown on what the law requires publicly traded firms to do — and what is prohibited — […]
Being involved in civil litigation can be expensive and time-consuming. In the end, the party bringing the lawsuit may wind up with nothing to show for it. So plaintiffs are almost always encouraged to settle. And defendants are often encouraged to settle because the cost of litigation may be higher than the amount demanded in the […]
A flurry of tax legislation passed at the end of 2019 as part of an omnibus spending package. You might have already heard about changes to the retirement plan rules and tax extenders that were part of this package. However, there are some lesser-known changes that you might not know about. Specifically, the disaster-related provisions of the […]