FTC Rule Bans Non-Compete Agreements: What Employers Should Do Now

Aundie OwensBusiness Law, Business/Commercial Law, General

The Federal Trade Commission (FTC) implemented a new final rule prohibiting employers from enforcing non-compete agreements against employees.  A non-compete agreement essentially bans a worker from moving to another employer within the same industry for a set period of time, citing the employer’s privacy and competition concerns.  Non-compete agreements have traditionally restricted employee mobility by preventing workers from joining competing …

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Ask Cari: How to Protect Your Business from a Data Breach

Cari RinckerBusiness Law, Business/Commercial Law, Social Media and Technology, Technology Law Leave a Comment

The risk of suffering a data breach has never been higher. Small businesses are three times more likely than larger businesses to be targeted by cybercriminals.[1] The costs of a cyberattack, both in terms of financial and reputational damage, can be devastating to small businesses. Although many business owners are aware of the risks of a cyberattack, they have not …

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Ask Cari: Tips for Selling Your Business to an Outsider

Cari RinckerBusiness Law, Business/Commercial Law Leave a Comment

You have spent years building your business, but at some point, the time will come for you to sell the company and exit. While many business owners choose to keep the company in the family, that is not always realistic. Family members may not have the interest or skills needed to run the business. In such cases, selling the company …

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Ask Cari: How the New Corporate Transparency Act could Affect Your Small Business

Cari RinckerBusiness Law, Business/Commercial Law Leave a Comment

Small businesses have been rushing to better understand the implications of the newly enacted Corporate Transparency Act (“CTA”), which entered into effect on January 1, 2024.  The CTA applies to over 32 million businesses in the United States, including many companies that filed a document with any secretary of state office.  The CTA includes a new reporting requirement for small …

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Ask Cari: What Is Due Diligence When Buying a Business?

Cari RinckerBusiness Law Leave a Comment

Due diligence is the process of obtaining and verifying information about a company or person in preparation for a business transaction, such as an acquisition, merger, or potential new business partner. Generally, due diligence provides information about the company being considered for purchase and its operations, with an eye toward risks that could cause future problems. Obtaining details about pending …

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Business Licenses and Permits: What You Need to Know to Start Your Business

Cari RinckerBusiness Law, Business/Commercial Law Leave a Comment

Small business owners are no strangers to government regulations. There are many requirements that businesses must be aware of and comply with, including business license and permit rules. Most businesses must obtain licenses or permits, so it is important for each business to know which ones it needs. Business operations are regulated at the federal, state, and local levels. Each …

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What to Know about Limited Liability As You Grow Your Business

Cari RinckerBusiness Law Leave a Comment

Starting a business involves a certain amount of inherent risk. There are no guarantees that the founders of a company will get along, a product or service will sell, or market conditions or competitors will not create unforeseen problems. While entrepreneurs must be willing to take a leap of faith, there are steps they can take to reduce risk, both …

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Five Things to Know Before Including a Limited Liability Company in Your Estate Plan

Cari RinckerBusiness Law, Estate Planning Leave a Comment

When it comes to protecting your hard-earned money and property, it is important that you have the right plan, which can include a number of tools for your unique situation. One tool that might benefit you is a limited liability company (LLC) that owns some of your accounts and property. What is a limited liability company? An LLC is a …

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Pass-Through Taxation: What You Need to Know

Cari RinckerBusiness Law Leave a Comment

Most US businesses have a pass-through taxation structure: they are not subject to corporate tax. Instead, they have their income “pass through” to their owners to be taxed on their individual income tax returns. Pass-through businesses have simpler filing and a lower tax rate than C corporations because they avoid double taxation. Pass-through business owners must pay self-employment taxes, however, …

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Most Common DIY Contract Mistakes

Cari RinckerBusiness Law, Business/Commercial Law Leave a Comment

Small business owners often wear many hats. On any given day, they might dabble in customer service, human resources, accounting, bookkeeping, and legal matters. Resilient, confident, and flexible by nature, entrepreneurs often welcome the challenge to learn new skills by working outside of their core competencies. But for some matters, not working with an experienced professional can be counterproductive. Contracts …

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Ask Cari: What You Should Know About Issuing Stocks

Cari RinckerBusiness Law Leave a Comment

The ability of a company to issue stock is a crucial element of modern capitalism. Selling stock, which represents an ownership share in a company, allows companies to raise money for growth and expansion. Stock options are also used as an employee incentive, especially in the startup phase. C corporations are the only entities that issue stock. Other types of …

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Changing Your Business’s Legal Structure

Cari RinckerBusiness Law Leave a Comment

Over time, your business can undergo significant changes. What may have started as a humble, one-person operation can grow into a more complex company, with multiple owners, employees, an evolving mission statement, and increasing risks. As the scope and goals of your business shift, an accompanying change in business structure might be warranted. There are many reasons to consider changing …

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