Family Affair: Potential Problems with Family-Owned Businesses

by Ward and Smith, P.A.
Contact

Some of the most heartbreaking situations we see in our closely-held business and estate practices are families torn apart over differences in dealing with family-owned businesses. 

When there are problems with family-owned businesses, people tend to think with their hearts, rather than their brains, and often take unreasonable positions that are counterproductive to reaching a satisfactory resolution.  Often, the personal relationships among the family members continue to suffer until the business issues have been resolved, and even for a long time afterwards.

Almost invariably we find that careful planning and documentation could have led to a quick solution to the business problem.  However, we find that families are less likely than unrelated parties to have carefully documented processes for dealing with problems.  The closeness of family members makes many of them think that their family members will always act fairly and that problems will be resolved without resorting to written agreements.  Failing to properly document the intent of family members in businesses while everyone is in agreement and not fighting can be a devastating mistake.

Consider the following scenarios:

Scenario 1: Jody "Retires" Without Telling Buffy.

Buffy and her brother, Jody, created a line of doll clothing designed to be worn by Mrs. Beasley dolls.  They formed a corporation called "Mrs. B's Bureau, Inc.," filed a Subchapter S election, and started a successful small business manufacturing the doll clothes and selling them on the Internet to the masses. 

Buffy and Jody owned the stock of Mrs. B's Bureau in equal shares and they were the only two directors on the corporation's board of directors.  Against their lawyer's advice, they chose to save on legal fees and did not enter into a buy-sell agreement to govern transfers of the corporation's stock.

In common with owners of most small Subchapter S-corporations, Buffy and Jody worked as employees of Mrs. B's Bureau and received modest, but reasonable salaries for their roles as chief executive officer and chief operating officer, respectively. 

After setting aside a reasonable reserve of the corporation's profits for operations and capital improvements each year, Buffy and Jody would vote as directors to issue a distribution of the corporation's remaining profits to themselves in the form of large dividends.

Relying heavily on the large distributions from the corporation, Buffy and Jody lived very well, building nice homes and buying even nicer vacation homes.  Everything worked very well for a period of time.  Buffy and Jody worked very hard in the business.  They were making plenty of money and enjoying their lives. 

However, Jody began to enjoy his vacation home a bit too much.  Gradually, he began to spend more and more time there and started neglecting his duties at Mrs. B's Bureau.  Ultimately, Jody was spending very little time at work. 

Buffy, having a great work ethic, covered for Jody for a while.  She took over some of his duties and shifted some to other employees, but eventually got fed up with Jody's laziness.  Jody was making the same salary as Buffy and, when it was time for distributions, got the same amount as Buffy since they owned their stock in equal amounts.  Buffy tried to get Jody reengaged in the business, but could not get him to come back to work.

At her wits' end, Buffy hired a personal attorney to advise her on what to do about Jody.  She really would have liked to just buy his stock and move on without him, but quickly found there was very little she could do unilaterally to get what she wanted. 

Jody was not interested in selling his stock.  In order for Buffy to get her distributions from the corporation, which she needed to support her lifestyle, Jody had to receive equal distributions.  Why would he give up that arrangement?  Jody no longer worked, but continued to receive the same salary and large cash distributions.  Due to Buffy's hard work, the company still thrived and grew in value each year.  Buffy had no way to force Jody to sell his stock in the company.

As CEO of the company, Buffy used her authority to fire Jody for failing to show up to work.  However, losing the relatively small salary was not a big deal to Jody.  He still served on the board of directors and there was nothing Buffy could do about that.  Owning half of the stock of the corporation gave Jody the right to elect himself as one of the two directors. 

Buffy could not raise her salary without a vote of both board members, something Jody was unwilling to do.  Buffy still needed the cash distributions and Jody was always willing to vote for those since he would get the same distribution as Buffy. 

Buffy became very frustrated with the situation and eventually came to despise her lazy brother for being willing to take half of the fruits of her considerable labor. 

Jody could not believe that his sister fired him and could not stand her self-righteous attitude about her role in their company.  No amount of counseling from their big sister, Sissy, could repair the damaged relationship.

What Could Buffy and Jody Have Done Differently?

The simplest thing Buffy and Jody could have done was to have followed the advice of their lawyer and entered into a buy-sell agreement with respect to their stock. 

Owners of small businesses which rely on the efforts of the owners, whether they are family members or not, should have agreements providing that if an owner quits working full time in the business, the other owners have the right to cause the owner who quit working to sell that owner's stock.  The buy-out should be at fair value to be fair to the owner being bought out.  The buy-out may be structured with payments made over time so that the company or remaining owners are not put in a bind to come up with a large single cash payment to buy the stock.

Similarly, a buy-sell agreement can contain a compulsory provision whereby an owner (the "Offering Owner") has the right to trigger a buy-out of one or more of the other owners for any reason.  Compulsory buy-sell agreements often provide that the Offering Owner can make an offer to either buy another owner's stock or sell the Offering Owner's stock to one or more of the other owners at a price stated in the offer. 

The other owner or owners get to decide whether to be a buyer or a seller.  If the other owner or owners do not respond to the Offering Owner's offer to sell or buy within a given time, the Offering Owner gets to choose whether to be the buyer or seller. 

Assuming both or all owners have the same ability to fund the purchase of the other owner's stock, this type of provision is fair because it provides for a fair price.  The Offering Owner will not set the price too low or too high, because the Offering Owner will not want to be bought out at a low value and will not want to be a buyer for a price that is too high.

Another thing Buffy and Jody could have done was include a provision in the Bylaws of the corporation that required a third, independent director.  While they were getting along, Buffy and Jody could have agreed upon a third director who would only consider the best interests of the corporation, without a personal stake in it. 

An independent director could have made it easier to fire Jody, giving Buffy cover in her decision to terminate her brother.  The independent director also could have helped Buffy vote to increase Buffy's salary and award bonuses to recognize her outstanding efforts for the corporation.  This would have made her less dependent on the distributions, which could then be lowered simply by the vote of Buffy and the independent director without the necessity of getting consent from Jody.

Some simple planning in the beginning, when Buffy and Jody were aligned and happy with one another, could have provided a quick resolution when Jody decided to retire without telling anyone.

Scenario 2:  Uncle Bill Gets Married.

Imagine if, instead of Buffy and Jody creating their own business, they worked for Uncle Bill, who became their guardian when their parents died in a tragic automobile accident. 

Uncle Bill loved Buffy and Jody as if they were his own children.  Uncle Bill involved Buffy and Jody in his successful import business in Raleigh, "Mr. French's Imports, Inc.," as soon as they were old enough to understand its workings.  Both kids joined the business when they graduated from college.  Buffy and Jody's older sister, Sissy, whom Uncle Bill also loved as if she were his own, was not interested in the business and became a school teacher.

Buffy and Jody became an integral part of the operation of Mr. French's Imports and eventually took over the management of the company when Uncle Bill stepped back from his responsibilities.  Uncle Bill, a confirmed bachelor for many years, eventually fell in love and married a woman named Edith.  Uncle Bill and Edith lived together in wedded bliss for a little over 15 years when tragedy struck again.  Uncle Bill was also killed in a car accident.

After the funeral, when all of the family came together to read Uncle Bill's will, they were in for a big surprise.  Uncle Bill did not own anything of value, except for his stock in Mr. French's Imports.  His luxury apartment was leased, as was his car.  He spent the money distributed to him from Mr. French's Imports supporting his and Edith's lifestyle.

Edith had inherited money from her family and had enough to take care of herself without getting anything from Uncle Bill's estate.  Because he knew about Edith's inheritance, but without discussing his wishes with Edith, Uncle Bill had decided that there was no need for him to leave her anything.  He considered her to be self-sufficient, but she did not know that he had made that determination.

Uncle Bill had always told Buffy and Jody that if they stuck with him in the business, he would leave it to them.  Therefore, everyone was shocked when they discovered that, in his Will, Uncle Bill had left his stock in equal shares to Buffy, Jody, and Sissy.  Buffy and Jody were extremely disappointed that they would have to share the business with their sister who had never worked in it and knew nothing about how it operated.  Additionally, Edith was extremely hurt to find out that Bill had left her nothing despite their happy marriage.  Sissy, living on a teacher's salary, was delighted to learn that she was going to receive a windfall from Uncle Bill's estate.

After hiring her own attorney, Edith learned that no matter what Uncle Bill's Will said, she was entitled, by law, to roughly 50 percent of his assets under North Carolina's surviving spouse elective share statute.  When Uncle Bill's estate was probated, Edith got 50 percent of the stock in Mr. French's Imports, and each of Buffy, Jody, and Sissy got one-sixth of the stock.  The only person who was happy was Sissy. 

Buffy and Jody were fully capable of running the company, but really resented having to work for a collective one-third of the value and profits of the company.  Edith was happy to get her share of the stock, but really did not want her inheritance from Uncle Bill tied up in a closely-held company whose operations were unfamiliar to her, and about which she was not inclined to learn at her age.

After a lot of negotiations and some very sore feelings, Buffy and Jody struck a deal to buy out Edith.  They didn't want to pay for something they thought they already had earned, but had no choice.  Edith was willing to finance the purchase of her stock, and Buffy and Jody determined that they would be able to make payments to Edith with the profits of the company.  Buffy and Jody tried to buy out their sister, but Sissy was determined to hang on to the gift her Uncle Bill had given her and would not sell.

Buffy and Jody never got over Sissy's refusal to sell and, ultimately, Sissy became very distrustful of her brother and sister's operation of the company and the large amounts of money they paid themselves to run it.  As a minority shareholder in the company, there was little Sissy could do.  The siblings, who had been very close, now barely speak to one another.

What Could Uncle Bill Have Done Differently?

Uncle Bill wanted to leave Mr. French's Imports to Buffy and Jody and also wanted to take care of his other niece, Sissy.  He realized that he did not have other assets to give to Sissy, so, thinking he had no alternative, he settled for giving her a third of his company.  Uncle Bill didn't realize the effect of the surviving spouse elective share statute and never anticipated that Edith would get half of his company.  He also assumed that Buffy and Jody would figure out a way to buy out Sissy, so they would get the company and Sissy would get money.

In order to fund an inheritance for Sissy, Uncle Bill could have considered buying life insurance on his life when he was younger and the premiums were much lower.  He could have set up a life insurance trust to own the policy, with Sissy named as the beneficiary, and could have used his ability to make tax-exempt annual gifts to pay for the premiums.

If the life insurance solution was not available, Uncle Bill could have left the stock to the three siblings but made them sign a buy-sell agreement while he was alive that would govern any shares of the company which they may receive in the future.  The buy-sell agreement could have given Buffy and Jody an option to buy out Sissy at any time.  Correspondingly, the buy-sell agreement could have given Sissy the right to force Buffy and Jody to buy her out.  The agreement also could have provided a mechanism for determining the value of the stock and it could have provided that Buffy and Jody could pay for the stock over time at an appropriate interest rate.

With respect to Edith, Uncle Bill could have insisted upon a premarital agreement in which Edith would waive her right to claim her statutory elective share of his estate.  Even without a premarital agreement, Uncle Bill could have recognized the fact that Edith was entitled to a share of his estate and could have funded that share by purchasing life insurance.  He also could have asked her to sign a buy-sell agreement which gave Buffy and Jody the right to buy her out, similar to the one described above with Sissy.

With careful planning and proper communication, Uncle Bill could have left a legacy to each of his loved ones without generating the hurt feelings that would forever taint their lives and their memories of him.

Conclusion

A family fight over a company is a terrible thing to witness, and even worse to experience.  Family relationships are much more important than assets.  With careful planning and communication while family members are happy and cooperating, most family business disputes can be avoided or minimized.  The time to plan is now.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Ward and Smith, P.A. | Attorney Advertising

Written by:

Ward and Smith, P.A.
Contact
more
less

Ward and Smith, P.A. on:

Readers' Choice 2017
Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
Custom Email Digest
- hide

JD Supra Privacy Policy

Updated: May 25, 2018:

JD Supra is a legal publishing service that connects experts and their content with broader audiences of professionals, journalists and associations.

This Privacy Policy describes how JD Supra, LLC ("JD Supra" or "we," "us," or "our") collects, uses and shares personal data collected from visitors to our website (located at www.jdsupra.com) (our "Website") who view only publicly-available content as well as subscribers to our services (such as our email digests or author tools)(our "Services"). By using our Website and registering for one of our Services, you are agreeing to the terms of this Privacy Policy.

Please note that if you subscribe to one of our Services, you can make choices about how we collect, use and share your information through our Privacy Center under the "My Account" dashboard (available if you are logged into your JD Supra account).

Collection of Information

Registration Information. When you register with JD Supra for our Website and Services, either as an author or as a subscriber, you will be asked to provide identifying information to create your JD Supra account ("Registration Data"), such as your:

  • Email
  • First Name
  • Last Name
  • Company Name
  • Company Industry
  • Title
  • Country

Other Information: We also collect other information you may voluntarily provide. This may include content you provide for publication. We may also receive your communications with others through our Website and Services (such as contacting an author through our Website) or communications directly with us (such as through email, feedback or other forms or social media). If you are a subscribed user, we will also collect your user preferences, such as the types of articles you would like to read.

Information from third parties (such as, from your employer or LinkedIn): We may also receive information about you from third party sources. For example, your employer may provide your information to us, such as in connection with an article submitted by your employer for publication. If you choose to use LinkedIn to subscribe to our Website and Services, we also collect information related to your LinkedIn account and profile.

Your interactions with our Website and Services: As is true of most websites, we gather certain information automatically. This information includes IP addresses, browser type, Internet service provider (ISP), referring/exit pages, operating system, date/time stamp and clickstream data. We use this information to analyze trends, to administer the Website and our Services, to improve the content and performance of our Website and Services, and to track users' movements around the site. We may also link this automatically-collected data to personal information, for example, to inform authors about who has read their articles. Some of this data is collected through information sent by your web browser. We also use cookies and other tracking technologies to collect this information. To learn more about cookies and other tracking technologies that JD Supra may use on our Website and Services please see our "Cookies Guide" page.

How do we use this information?

We use the information and data we collect principally in order to provide our Website and Services. More specifically, we may use your personal information to:

  • Operate our Website and Services and publish content;
  • Distribute content to you in accordance with your preferences as well as to provide other notifications to you (for example, updates about our policies and terms);
  • Measure readership and usage of the Website and Services;
  • Communicate with you regarding your questions and requests;
  • Authenticate users and to provide for the safety and security of our Website and Services;
  • Conduct research and similar activities to improve our Website and Services; and
  • Comply with our legal and regulatory responsibilities and to enforce our rights.

How is your information shared?

  • Content and other public information (such as an author profile) is shared on our Website and Services, including via email digests and social media feeds, and is accessible to the general public.
  • If you choose to use our Website and Services to communicate directly with a company or individual, such communication may be shared accordingly.
  • Readership information is provided to publishing law firms and authors of content to give them insight into their readership and to help them to improve their content.
  • Our Website may offer you the opportunity to share information through our Website, such as through Facebook's "Like" or Twitter's "Tweet" button. We offer this functionality to help generate interest in our Website and content and to permit you to recommend content to your contacts. You should be aware that sharing through such functionality may result in information being collected by the applicable social media network and possibly being made publicly available (for example, through a search engine). Any such information collection would be subject to such third party social media network's privacy policy.
  • Your information may also be shared to parties who support our business, such as professional advisors as well as web-hosting providers, analytics providers and other information technology providers.
  • Any court, governmental authority, law enforcement agency or other third party where we believe disclosure is necessary to comply with a legal or regulatory obligation, or otherwise to protect our rights, the rights of any third party or individuals' personal safety, or to detect, prevent, or otherwise address fraud, security or safety issues.
  • To our affiliated entities and in connection with the sale, assignment or other transfer of our company or our business.

How We Protect Your Information

JD Supra takes reasonable and appropriate precautions to insure that user information is protected from loss, misuse and unauthorized access, disclosure, alteration and destruction. We restrict access to user information to those individuals who reasonably need access to perform their job functions, such as our third party email service, customer service personnel and technical staff. You should keep in mind that no Internet transmission is ever 100% secure or error-free. Where you use log-in credentials (usernames, passwords) on our Website, please remember that it is your responsibility to safeguard them. If you believe that your log-in credentials have been compromised, please contact us at privacy@jdsupra.com.

Children's Information

Our Website and Services are not directed at children under the age of 16 and we do not knowingly collect personal information from children under the age of 16 through our Website and/or Services. If you have reason to believe that a child under the age of 16 has provided personal information to us, please contact us, and we will endeavor to delete that information from our databases.

Links to Other Websites

Our Website and Services may contain links to other websites. The operators of such other websites may collect information about you, including through cookies or other technologies. If you are using our Website or Services and click a link to another site, you will leave our Website and this Policy will not apply to your use of and activity on those other sites. We encourage you to read the legal notices posted on those sites, including their privacy policies. We are not responsible for the data collection and use practices of such other sites. This Policy applies solely to the information collected in connection with your use of our Website and Services and does not apply to any practices conducted offline or in connection with any other websites.

Information for EU and Swiss Residents

JD Supra's principal place of business is in the United States. By subscribing to our website, you expressly consent to your information being processed in the United States.

  • Our Legal Basis for Processing: Generally, we rely on our legitimate interests in order to process your personal information. For example, we rely on this legal ground if we use your personal information to manage your Registration Data and administer our relationship with you; to deliver our Website and Services; understand and improve our Website and Services; report reader analytics to our authors; to personalize your experience on our Website and Services; and where necessary to protect or defend our or another's rights or property, or to detect, prevent, or otherwise address fraud, security, safety or privacy issues. Please see Article 6(1)(f) of the E.U. General Data Protection Regulation ("GDPR") In addition, there may be other situations where other grounds for processing may exist, such as where processing is a result of legal requirements (GDPR Article 6(1)(c)) or for reasons of public interest (GDPR Article 6(1)(e)). Please see the "Your Rights" section of this Privacy Policy immediately below for more information about how you may request that we limit or refrain from processing your personal information.
  • Your Rights
    • Right of Access/Portability: You can ask to review details about the information we hold about you and how that information has been used and disclosed. Note that we may request to verify your identification before fulfilling your request. You can also request that your personal information is provided to you in a commonly used electronic format so that you can share it with other organizations.
    • Right to Correct Information: You may ask that we make corrections to any information we hold, if you believe such correction to be necessary.
    • Right to Restrict Our Processing or Erasure of Information: You also have the right in certain circumstances to ask us to restrict processing of your personal information or to erase your personal information. Where you have consented to our use of your personal information, you can withdraw your consent at any time.

You can make a request to exercise any of these rights by emailing us at privacy@jdsupra.com or by writing to us at:

Privacy Officer
JD Supra, LLC
10 Liberty Ship Way, Suite 300
Sausalito, California 94965

You can also manage your profile and subscriptions through our Privacy Center under the "My Account" dashboard.

We will make all practical efforts to respect your wishes. There may be times, however, where we are not able to fulfill your request, for example, if applicable law prohibits our compliance. Please note that JD Supra does not use "automatic decision making" or "profiling" as those terms are defined in the GDPR.

  • Timeframe for retaining your personal information: We will retain your personal information in a form that identifies you only for as long as it serves the purpose(s) for which it was initially collected as stated in this Privacy Policy, or subsequently authorized. We may continue processing your personal information for longer periods, but only for the time and to the extent such processing reasonably serves the purposes of archiving in the public interest, journalism, literature and art, scientific or historical research and statistical analysis, and subject to the protection of this Privacy Policy. For example, if you are an author, your personal information may continue to be published in connection with your article indefinitely. When we have no ongoing legitimate business need to process your personal information, we will either delete or anonymize it, or, if this is not possible (for example, because your personal information has been stored in backup archives), then we will securely store your personal information and isolate it from any further processing until deletion is possible.
  • Onward Transfer to Third Parties: As noted in the "How We Share Your Data" Section above, JD Supra may share your information with third parties. When JD Supra discloses your personal information to third parties, we have ensured that such third parties have either certified under the EU-U.S. or Swiss Privacy Shield Framework and will process all personal data received from EU member states/Switzerland in reliance on the applicable Privacy Shield Framework or that they have been subjected to strict contractual provisions in their contract with us to guarantee an adequate level of data protection for your data.

California Privacy Rights

Pursuant to Section 1798.83 of the California Civil Code, our customers who are California residents have the right to request certain information regarding our disclosure of personal information to third parties for their direct marketing purposes.

You can make a request for this information by emailing us at privacy@jdsupra.com or by writing to us at:

Privacy Officer
JD Supra, LLC
10 Liberty Ship Way, Suite 300
Sausalito, California 94965

Some browsers have incorporated a Do Not Track (DNT) feature. These features, when turned on, send a signal that you prefer that the website you are visiting not collect and use data regarding your online searching and browsing activities. As there is not yet a common understanding on how to interpret the DNT signal, we currently do not respond to DNT signals on our site.

Access/Correct/Update/Delete Personal Information

For non-EU/Swiss residents, if you would like to know what personal information we have about you, you can send an e-mail to privacy@jdsupra.com. We will be in contact with you (by mail or otherwise) to verify your identity and provide you the information you request. We will respond within 30 days to your request for access to your personal information. In some cases, we may not be able to remove your personal information, in which case we will let you know if we are unable to do so and why. If you would like to correct or update your personal information, you can manage your profile and subscriptions through our Privacy Center under the "My Account" dashboard. If you would like to delete your account or remove your information from our Website and Services, send an e-mail to privacy@jdsupra.com.

Changes in Our Privacy Policy

We reserve the right to change this Privacy Policy at any time. Please refer to the date at the top of this page to determine when this Policy was last revised. Any changes to our Privacy Policy will become effective upon posting of the revised policy on the Website. By continuing to use our Website and Services following such changes, you will be deemed to have agreed to such changes.

Contacting JD Supra

If you have any questions about this Privacy Policy, the practices of this site, your dealings with our Website or Services, or if you would like to change any of the information you have provided to us, please contact us at: privacy@jdsupra.com.

JD Supra Cookie Guide

As with many websites, JD Supra's website (located at www.jdsupra.com) (our "Website") and our services (such as our email article digests)(our "Services") use a standard technology called a "cookie" and other similar technologies (such as, pixels and web beacons), which are small data files that are transferred to your computer when you use our Website and Services. These technologies automatically identify your browser whenever you interact with our Website and Services.

How We Use Cookies and Other Tracking Technologies

We use cookies and other tracking technologies to:

  1. Improve the user experience on our Website and Services;
  2. Store the authorization token that users receive when they login to the private areas of our Website. This token is specific to a user's login session and requires a valid username and password to obtain. It is required to access the user's profile information, subscriptions, and analytics;
  3. Track anonymous site usage; and
  4. Permit connectivity with social media networks to permit content sharing.

There are different types of cookies and other technologies used our Website, notably:

  • "Session cookies" - These cookies only last as long as your online session, and disappear from your computer or device when you close your browser (like Internet Explorer, Google Chrome or Safari).
  • "Persistent cookies" - These cookies stay on your computer or device after your browser has been closed and last for a time specified in the cookie. We use persistent cookies when we need to know who you are for more than one browsing session. For example, we use them to remember your preferences for the next time you visit.
  • "Web Beacons/Pixels" - Some of our web pages and emails may also contain small electronic images known as web beacons, clear GIFs or single-pixel GIFs. These images are placed on a web page or email and typically work in conjunction with cookies to collect data. We use these images to identify our users and user behavior, such as counting the number of users who have visited a web page or acted upon one of our email digests.

JD Supra Cookies. We place our own cookies on your computer to track certain information about you while you are using our Website and Services. For example, we place a session cookie on your computer each time you visit our Website. We use these cookies to allow you to log-in to your subscriber account. In addition, through these cookies we are able to collect information about how you use the Website, including what browser you may be using, your IP address, and the URL address you came from upon visiting our Website and the URL you next visit (even if those URLs are not on our Website). We also utilize email web beacons to monitor whether our emails are being delivered and read. We also use these tools to help deliver reader analytics to our authors to give them insight into their readership and help them to improve their content, so that it is most useful for our users.

Analytics/Performance Cookies. JD Supra also uses the following analytic tools to help us analyze the performance of our Website and Services as well as how visitors use our Website and Services:

  • HubSpot - For more information about HubSpot cookies, please visit legal.hubspot.com/privacy-policy.
  • New Relic - For more information on New Relic cookies, please visit www.newrelic.com/privacy.
  • Google Analytics - For more information on Google Analytics cookies, visit www.google.com/policies. To opt-out of being tracked by Google Analytics across all websites visit http://tools.google.com/dlpage/gaoptout. This will allow you to download and install a Google Analytics cookie-free web browser.

Facebook, Twitter and other Social Network Cookies. Our content pages allow you to share content appearing on our Website and Services to your social media accounts through the "Like," "Tweet," or similar buttons displayed on such pages. To accomplish this Service, we embed code that such third party social networks provide and that we do not control. These buttons know that you are logged in to your social network account and therefore such social networks could also know that you are viewing the JD Supra Website.

Controlling and Deleting Cookies

If you would like to change how a browser uses cookies, including blocking or deleting cookies from the JD Supra Website and Services you can do so by changing the settings in your web browser. To control cookies, most browsers allow you to either accept or reject all cookies, only accept certain types of cookies, or prompt you every time a site wishes to save a cookie. It's also easy to delete cookies that are already saved on your device by a browser.

The processes for controlling and deleting cookies vary depending on which browser you use. To find out how to do so with a particular browser, you can use your browser's "Help" function or alternatively, you can visit http://www.aboutcookies.org which explains, step-by-step, how to control and delete cookies in most browsers.

Updates to This Policy

We may update this cookie policy and our Privacy Policy from time-to-time, particularly as technology changes. You can always check this page for the latest version. We may also notify you of changes to our privacy policy by email.

Contacting JD Supra

If you have any questions about how we use cookies and other tracking technologies, please contact us at: privacy@jdsupra.com.

- hide

This website uses cookies to improve user experience, track anonymous site usage, store authorization tokens and permit sharing on social media networks. By continuing to browse this website you accept the use of cookies. Click here to read more about how we use cookies.