Business Ownership

News & Analysis as of

‘Transparency and Trust’: Proposed Changes to Company Law in the UK

On 25 June 2014, the Government published the Small Business, Enterprise and Employment Bill. It includes a wide range of measures designed to improve the legislative environment for small businesses and incorporates...more

Michigan Enacts Changes To Administrative Tax Provisions Affecting Audits And Assessments

Michigan has enacted legislation that clarifies and streamlines a number of important tax administrative provisions. The changes affect the Department of Treasury’s ability to pursue and collect unpaid taxes from company...more

The Effects of a Mandatory Register of Beneficial Ownership

Some of the many attractions of the British Virgin Islands (the BVI) for both corporates and lenders are the relatively sophisticated legal system, low operating costs and creditor friendly insolvency regime. In recent times...more

In re Interstate General Media Holdings, LLC, C.A. No. 9221-VCP (Del. Ch. Apr. 25, 2014) (Parsons, V.C.)

In this memorandum opinion regarding the judicial dissolution of a Delaware LLC, the Court of Chancery, ordered the sale of the company in a private, English-style auction, as opposed to a public auction, in order to maximize...more

Deconstructing a Letter of Intent for Business Owners, Part 1

I recently appeared on an episode of the Private Equity FunCast: “The Art (and Science?) of the LOI” to talk deal terms with private equity masters Devin Mathews and Jim Milbery. This well-spent hour got me thinking about...more

The In-House Attorney-Client Privilege

It’s simple—the attorney-client privilege protects from discovery communications between a client and his or her lawyer. It’s challenging—the privilege applies to communications between (some) corporate representatives and...more

UK Government Backs “Transparency & Trust” Paper Recommendations

The UK government has published a response paper largely in agreement with the controversial “Transparency & Trust” discussion paper published by its Business, Innovation and Skills Department in July 2013....more

5 Steps Out of the Entrepreneur’s Inevitable Business Plateau (Part 1)

Like death and taxes, there is one thing about being a legal entrepreneur that is predictable… Your business will plateau....more

Aircraft Transaction Basics - A Business Development Opportunity

This paper will describe the basics of aircraft transactions, including aircraft sale, purchase and ownership issues and how current aviation practitioners can expand their practice area to include aircraft transactions, pull...more

New Lawyers Need to Understand the Business of Law to Succeed in Private Practice

A position in a law firm not only requires performing well for the attorneys you are working for and ultimately the clients, but understanding and embracing the business of law....more

Governor Cuomo Revisits Pilot Program for Private Business Corporations to Own and Operate Hospitals in New York

New York is set to revisit the debate regarding the private ownership of hospitals. On January 21, 2014, Governor Andrew Cuomo released his Executive Budget, which again calls for the implementation of a pilot program ("Pilot...more

3 Things Law Students Can Do Today to Build Their Future Solo Practice

Setting yourself up for a successful virtual law office (VLO) doesn’t have to wait until you graduate from law school. You can begin to build a solid foundation for your future VLO, right now! Here are 3 things you can...more

AG Opines An Owner Operated Business With No Employees Can Be A “Place Of Employment”

One of the California Attorney General’s many responsibilities includes the rendering of legal opinions to state and local officials and government agencies concerning legal questions relating to their offices. Cal. Gov’t...more

Plans for UK Public Register of Company Beneficial Ownership

In June 2013 we provided an update on proposals by the UK Government to establish a more rigorous transparent disclosure regime relating to ownership of UK incorporated companies, including their beneficial ownership. While...more

Despite Ruling Against Business Owner, Ky. Supreme Court Upholds Important Protection for Single-Owner Entities

Most Kentucky business owners know that owning their business through a formal entity, such as a corporation or limited liability company (LLC) has certain advantages. Many also know that to realize those advantages, they...more

Start-Up Raising Capital? Some Common Features of Preferred Shares & Why Some Select Preferred Shares over Convertible Debt

When you start a business and want to attract your first round of financing, Preferred Shares is one product that can be offered to Investors. Many Founders have asked us to explain exactly what Preferred Shares are and...more

California Court of Appeal Makes It Easier to Add Business Owners to a Judgment

Individuals form limited partnerships, limited liability companies and corporations to limit their personal liability. These legal structures encourage entrepreneurs to take risks. The California Court of Appeal, Second...more

For 2014 Business Property Owners In Allegheny County Have Another Shot At Assessment

Remember the real estate tax reassessment that occurred in Allegheny County over the past year or so? Allegheny County retained an outside expert to value all Allegheny County real estate parcels; the new assessments were...more

Looking for Ways to Improve Your Business? A List of Things Every Business Owner Should Do At the End of the Year

As a business owner, all year you have likely been running around acting as manager, capital raiser, developer, business generator, marketer, human resource manager and administrative assistant. Given the numerous roles, it...more

Some Valuation Observations Relating To LLC Interests

A recent Tax Court case addressed some interesting issues relating to the estate tax value of an LLC interest. Below is a summary of these issues....more

CFTC Adopts Final Rules for Ownership and Control Reports

On October 30, the Commodity Futures Trading Commission approved final rules that implement position and trading activity based reporting requirements for market participants that trade futures and swaps. The final rules...more

Corporate and Financial Weekly Digest - November 1, 2013

In this issue: - FINRA Issues New Investor Alert on Closed-End Funds - CFTC Adopts Enhanced Customer Protection Rules - CFTC Adopts Rules Regarding the Protection of Collateral and Treatment of Securities...more

Changing Directions: Tips for Buying or Selling A Business

Businesses of all sizes change hands every year. Whether you intend to sell or are looking to buy, planning is key to your venture. Our law firm helps clients move through business changes including the sale or purchase of a...more

Selling Privately Held Businesses – Interview with Stephen Gulotta, Managing Member, Mintz Levin's New York Office [Video]

Attorney Stephen Gulotta, Managing Member of Mintz Levin's New York office, discusses the importance of advance planning in the sale of privately held companies. ...more

Senator Levin Aims Again To Require Private Companies To Report Beneficial Ownership

In July, I wrote about a white paper prepared by the states of Delaware, Nevada and Wyoming, Encouraging Business While Fighting Fraud. The report details state efforts to deal with the use of corporations and limited...more

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