The U.S. Securities and Exchange Commission is a governmental agency that serves the purpose of protecting investors from fraud and maintaining fairness and efficiency of the U.S. market. One of the main goals of the SEC is to mandate disclosures about all kinds of investments to both small and big businesses.
The HIPAA stands for The Health Insurance Portability and Accountability Act. This federal Act protects the privacy of patient information from third parties. Therefore, most healthcare providers such as healthcare insurance companies, hospitals, etc. can only disclose patient information in cases when the HIPAA allows the disclosure. Under the HIPAA, apart from disclosing the patient’s information for treatment purposes, only “the minimum necessary to accomplish the purpose of the disclosure” can be revealed.
A furlough is a temporary, unpaid leave of absence, with an expectation that an employee will return to his or her job at a specific time. A furlough could also include reduced hours of work or work weeks. Ultimately, a furloughed employee remains an employee.
A securities class action lawsuit is filed by investors who have bought or sold a company’s publicly traded securities within a class period and have suffered economic injury as a result of violations of securities laws.
The reason for such disclosures is to protect the company in the event things fall apart and the investors try to sue the company for securities fraud for example. Such disclosures will be used as the company’s defense. One of the best ways to provide such disclosures is through a document called a Private Placement Memorandum (aka PPM).
While it can be emotional to imagine the state of a business after your passing, it can prove crucial in the protection of your legacy. The reality is that your sudden passing can lead to thousands or millions of dollars in losses for your business, and even starker consequences for your family.
In a class action lawsuit, only one lawsuit is filed on behalf of an entire group of injured parties. Very often, for example, such lawsuits unite many individuals and go after a large company that has produced defective products that have causes injury or loss to every individual member of the class action lawsuit. The settlement that such a lawsuit results in is typically divided between all of the individual plaintiffs.
A personal guarantee is an individual or business entity that guarantees responsibility for another’s financial obligation, should they ever fail to repay their lender. Personal guarantee’s usually come in when securing a debt for a loan such as a car finance or mortgage, but the guarantor is not contractually liable for any part of the loan unless the debtor fails to make a payment.
If a personal guarantor does not respond to the lender’s demand, the lender has two options to choose from in order to collect the debt. First, the lender can file suit against the personal guarantor and second – he can petition a court for the personal guarantor’s bankruptcy.
Oftentimes, a creditor or vendor wrongfully files something with your credit rating agency. All of a sudden, you find your credit lowered by hundreds of points, with collection agencies knocking at your door. Black marks on your credit can have detrimental consequences for future financial transactions, like opening a credit card.
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Esta es una guía rápida de referencia jurídica que cubre 16 temas que cada empresario necesita saber para empezar un negocio.
