Anti-trust laws and preventing monopolies
Merging with or acquiring another business can be a critical step in any company’s growth. However, they are complex and intricate processes that don’t just happen overnight. It can take considerable planning, valuation and negotiation to get to the point where a merger or acquisition can be considered and/or approved. Even at this point, there is the potential for the deal to be denied if the Federal Trade Commission believes it could violate antitrust laws that prevent monopolies. Most mergers do not raise any red flags. According to the Department of Justice and the FTC, just 5 percent of merger …
Are there grounds to challenge a business contract?
Contracts can be one of the most important tools protecting your company right now. These legal documents are crucial in establishing expectations, defining roles and setting boundaries that can prove to be critical in just about any industry. However, a contract is only as strong as its terms. This means that if you are party to a contract that has unenforceable terms, the entire agreement itself may be voided. There are many different reasons why a contract or certain clauses may be deemed invalid. They can be challenged if they are: Inherently unfair to one party Illegal or include violations …
New Law Requires 501(c)(4) Organizations to File with the IRS
On December 18, 2015, President Obama signed The Protecting Americans from Tax Hikes Act (the “Act”). The Act contains a requirement that 501(c)(4) social welfare organizations file a notice with the IRS. Prior to the Act, 501(c)(4) organizations could, but were not required to, submit a Form 1024 requesting tax-exempt status from the IRS. The new notice requirement applies to 501(c)(4) organizations that are created after December 18, 2015 and to certain organizations existing on that date. New organizations are required to file the notice with the IRS no later than 60 days after the organization is created. For other …
The Importance of “Wrap” Documents – A Key to ERISA Compliance for Group Health and Welfare Plans
To ensure compliance with ERISA’s documentation and disclosure rules for health and welfare plans (medical, dental, vision, group term life insurance, and disability insurance plans), the plans must be set forth in written plan documents that meet specified content requirements. Although employers receive insurance policies or certificates of coverage from insurers or third party administrators, these documents rarely specify the named fiduciary, the procedures for amending the plan or the allocation of responsibilities for the operation and administration of the plan among the employer, the insurer, and the third party administrator. ERISA also requires employers to provide to each employee …
Apple hit with $625 million lawsuit for technology use violations
Business disputes have the potential to make or break a company. There can be money, reputations and even jobs on the line, which is why it can be crucial that these disputes be resolved in a fair and efficient manner. However, this can seem impossible when one of the companies involved in a business dispute is much larger, more profitable or more well-known than the other. While this can certainly present a number of complex challenges, it does not mean that company should not be held accountable for breaking the law. For example, you are likely quite familiar with Apple. …
Type II Annexation Process in Ohio
Property owners may seek annexation into a neighboring municipality for a variety of reasons. Perhaps the property owner seeks city services or city zoning. Whatever the motivation, a property owner who seeks annexation into a neighboring city can do so fairly quickly and easily under the Expedited Type II annexation process. The property owner applies to the Board of County Commissioners and if all statutory requirements are met, the process can be completed in as little as a few months. In a Type II annexation, the annexed property still remains in the township, so any property taxes levied by the …
Business organizations 101: 5 business structures to consider
If you are starting a business or making changes to an existing business, you will need to determine what type of business you want it to be. This doesn’t mean figuring out what you will do, what your mission statement will be or how you will compete in the marketplace. It means that you will have to establish your business structure. As noted on the Internal Revenue Service website, there are five types of business structures: sole proprietorship, partnership, corporation, S corporation and limited liability company. In this post we will look at the very basic distinctions between these structures. …
Tips on Conducting Collective Bargaining Negotiations
This is a difficult time for unions throughout United States. The percentage of private sector employees covered by unions is at a historic low. Even in the public sector, unions are under stress due to straitened economic circumstances facing public sector employers and legal challenges to the union’s right to collect fair share dues. In spite of this however, a company or public entity which has a collective bargaining agreement and is faced with upcoming negotiations needs to carefully plan if it wants to maximize its chances of improving its position during negotiations. Based on my experience over the last …
Report: Thirst for legal action in the beverage industry
In recent years, the beverage industry has seen an explosion of new businesses, particularly in terms of breweries. Ohio is home to many of these breweries, whether they have been around for years or have only recently opened their doors. While consumers and brewery enthusiasts generally welcome the growth in this industry, it is evidently taking a toll on individual companies in terms of legal protections. According to a recent article on FoodDive.com titled, “Why beverage industry lawsuits are increasing,” the number of lawsuits filed in the beverage industry has been growing and will likely continue to do so in …