Many people will receive new smartphones as presents this month. Think carefully as an employer before allowing your employees to mingle work and pleasure on the same phone....more
Is your company in the witness protection program – using a name in the marketplace that is different than your company name (commonly known as an assumed name, fictitious name, doing business as, trading as or d/b/a”)?...more
Today is Giving Tuesday, and if your inbox is anything like mine, it is full of donation requests. I encourage you to support the causes that are near and dear to you.
But there also may be others asking for your money...more
I was reading a bulletin from the FTC, which just closed an investigation on whether certain Verizon data security practices constituted unfair trade practices. The closing letter in part reads...more
There is very little required by law to make a contract enforceable. Some types of contracts are required to be in writing, such as anything to do with land, contracts for goods worth $500 or more, and contracts for services...more
While many employment discrimination laws don’t apply until you have 15, 25 or 50 employees, there are several employment laws that apply when you hire your first employee...more
The US Trademark Trial and Appeal Board recently cancelled several Washington Redskins trademarks on the grounds that at the time these marks were registered, they were disparaging or offensive. This means the marks should...more
You just discovered that a new entrant to your existing market copied your website FAQs, but changed them a little. Your site has “© ABC Corporation 2009-2014? on the bottom. What do you do now....more
When starting a new business, many people toy with the idea of opening a franchised business.
What is a franchise, exactly? Legally speaking, a franchise has three components: 1) license of trademarks and systems, 2)...more
Once you have selected a property and have some idea of a fair price and market conditions, it is time for the real estate attorney to be involved. There are many protections for consumers purchasing real estate, but hardly...more
It is likely that your company has an obligation to protect the data and the financial information of its customers, clients and/or employees. This may be harder than ever since much of the company’s most of the valuable...more
Buying an existing business can be exhilarating and frightening all at once. It is important to find out as much about the business, its operations and finances as possible before purchase. Typical asset purchase agreements...more
In reading about Ron Francis’ promotion to general manager of the Carolina Hurricanes, one paragraph stood out to me...
...Many business owners think succession planning is all financial, but there are significant...more
One of the reasons to choose an S-Corp instead of an LLC is tax savings. An S-corp does not pay any taxes at the corporate level, but instead all income is passed through to the shareholders, who are responsible for a number...more
Many people draw up complicated estate plans to minimize the taxes they have to pay on their assets when they die. But people who are nowhere near the $5 million+ floor for estate taxes have very valuable reasons for having...more
North Carolina companies who rely on non-compete agreements to protect their trade secrets and proprietary information may want to review their agreements in light of two recent court decisions....more
North Carolina updated its Limited Liability Act effective January 1, 2014. One of the benefits of the limited liability company has been its flexibility. It is a creature of contract, allowing much more flexibility than the...more
If you routinely collect debts from consumers, you are probably familiar with the requirements of the federal Fair Debt Collections Act (FDCPA)....more
On January 1, 2014, the North Carolina Limited Liability Act was significantly overhauled. Existing Chapter 57C was repealed and 57D was passed in its place. Many of the substantive changes are highlighted below....more
If you routinely collect debts from consumers, you are probably familiar with the requirements of the federal Fair Debt Collections Act (FDCPA).
Under this act, consumers who disputed a debt had thirty days after...more
There are many legal principals behind names of companies and their products and services. It is common for new businesses to check with the North Carolina Secretary of State to make sure no one else has their name. This is...more
Do you have a corporation or an LLC? How often do you use the proper name of your company (as it appears in the records of the Secretary of State)? Do you often shorten your name and omit the “Inc” or “LLC” on your...more
Many successful businesses want to open secondary locations, or “license” the business to a third party to operate additional locations. Be very careful when setting up a third-party model — it is easy to create an...more
When a business borrows money, especially when it’s a new business, the lender wants to make sure it will be repaid even if the business fails. The lender often asks for additional security that it will be paid. Additional...more
We previously discussed in broad terms that a valid and enforceable contract must have offer and acceptance, mutual exchange of something of value and definitive terms. But what does it mean for a term to be “definitive”?...more