Posts tagged “TechLaw”
TechLaw: Correctly determining the income of parents is critical in establishing the proper child support obligation. North Carolina's recently revised Child Support Guidelines clarify what is and what is not income for purposes of child support.
TechLaw: The vast majority of employers mean well and try to do the right thing. However, as the saying goes, "the road to hell is paved with good intentions." Simply stated - it is hard to do the right thing if you don't understand what the law requires. As an employer, resolve to avoid some common mistakes this new year.
TechLaw: Commercial lending transactions can have far reaching implications, affecting more than just your business. In obtaining commercial loans, individuals may incur personal liability despite the protections afforded by various business structures.
TechLaw: Most people think that premarital agreements are only for the cold-hearted, the extremely wealthy, or fictional television characters, but, in reality, they may be a much needed tool for you. Ask yourself a question - would you enter into a business partnership with another person without clearly defining each partner's rights and obligations?
Tech Law: When a business owner plans to transfer ownership and management of the business to the next generation, protection of the business assets from lawsuits, divorce, bankruptcy, and other third party claims should be considered. Such protection frequently can be achieved by employing a few straight forward devices, such as limited liability companies, "spend thrift" trusts, and buy sell agreements.
TechLaw: In August, North Carolina recognized a new species of legal entity – the Low-Profit Limited Liability Company, or "L3C" – for the first time. To some, it is the "best of all possible worlds" because its purpose is to allow investors to make a profit while pursuing charitable and socially-beneficial goals.
TechLaw: "Letters of intent" are often used by parties who are thinking about entering into a contract with another party, but who do not yet want to be bound by any particular provisions. However, without careful drafting, the party sending a letter of intent might find itself bound to the provisions of the letter as if it were a final contract.
TechLaw: The Patient Protection and Affordable Care Act was signed into law on March 23, 2010. The new law includes a provision that requires certain employers to provide mothers reasonable break time to express milk for their infants who are up to one year old. Employers need to know the requirements.
Hide and seek: Untangling conundrum of having U.S. money judgments recognized, enforced in foreign countries
TechLaw:You and your American company have entered the international market, but you have ended up being harmed by a foreign company. Nervous about litigating abroad, you consider suing the foreign company in the United States. Before you sue, you should consider whether a U.S. money judgment will be recognized and enforced in the foreign country.
TechLaw: Federal government contracting can be steady and lucrative work – especially when the private sector is in a recession. But these contracts come with surprising compliance costs unrelated to the actual goods or services being sold. While receiving federal contract dollars is an enticing prospect for technology companies in a down economy, the money comes with many strings attached.
TechLaw: You think you have a great development plan for expanding or relocating your business. But first, you have to obtain zoning and/or other permit approvals from local elected and appointed boards. Knowing what to expect and having a plan are critical to your plan's success.
Techlaw: You are interested in finding a cost-effective space for your growing commercial enterprise and have identified an abandoned building that is perfect for your needs and inexpensive because the property is environmentally damaged by soil and groundwater contamination. You recall being warned that buying contaminated property is risky because the owner and operator of such a facility are exposed to substantial cleanup liability simply by owning or operating the property. Should you keep looking, or is there a way to make use of this abandoned building while being protected from such liability?
TechLaw: You started and built a successful business, but you feel it's time to sell. You think you have located a purchaser with a solid reputation who will treat your business and employees well. However, you and the purchaser cannot seem to agree on a price. A properly negotiated and drafted earn-out agreement may be what is needed to close the deal.
TechLaw: While some may interpret the Court’s opinion as opening the floodgates to business method patents, a more careful reading reveals that the Court pointed out other sections of the Patent Act which not only require careful scrutiny of business method inventions, but also provide sound basis to refuse patenting of business methods that are mere concepts or too abstract.
TechLaw: That's often the first question a business owner will ask the business's attorney when discussing whether to sue another party. Litigation is expensive, and attorneys' fees can be a large part of the expense. Can you get the other party to pay your attorneys' fees?
TechLaw: Under the right circumstances, the Internal Revenue Service now will allow a taxpayer to defer tax on the sale of certain intellectual property assets using an Internal Revenue Code § 1031 like-kind exchange. This policy change presents significant opportunities for tax savings.
TechLaw: By imposing harsh sanctions, courts across the country are reminding businesses of the need to preserve electronically-stored information which might be relevant to a current, or even potential, lawsuit.
TechLaw: The law provides businesses with the ability to protect a broad range of confidential business information as trade secrets. To take full advantage of these protections, however, businesses must take the time to identify exactly what information they use that can and should be entitled to trade secret status.
TechLaw: In basketball, whether the ball passes through the net before the final buzzer sounds can be the difference between a meaningful shot and no points. Like a buzzer beater, asset protection planning can be very effective if completed in a timely fashion. Otherwise, planning likely will not count.