Editor’s Note: Knox Proctor is a member of the Financial Institutions and Business Law Practice Groups at Ward and Smith, P.A. Summary This article updates our July 2012 article on the 2012 Jumpstart Our Business Startups Act, commonly referred to as the “JOBS Act,” which was designed to offer...
Read MoreEditor’s Note: Knox Proctor is a member of the Financial Institutions and Business Law Practice Groups at Ward and Smith, P.A. Having trouble raising capital? You know you’re not the only one with this problem when Congress and the President agree it’s a problem and agree on the solution. The Jumpstart our Business Startups (“JOBS”) Act seeks to create jobs by making it easier for start-up companies to deal with securities laws when raising capital. First, let’s review basic securities law principles so we know what problems the JOBS Act is trying to fix.Remember: Most provisions in the JOBS...
Read MoreEditor’s Note: Knox Proctor is a member of the Financial Institutions Practice Group at Ward and Smith, P.A. The General Assembly has enacted a new law authorizing the enforcement of provisions for the recovery of attorneys’ fees in certain contracts signed on or after October 1, 2011. Under the new statute, the contract must be a “business contract,” and the attorneys’ fee provisions must be “reciprocal,” that is, applicable to all parties to the contract. The contract must be signed “by hand” rather than electronically. And the court is given full discretion on whether and how much to award...
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