It is important to understand that a franchise agreement is typically drafted in favor of the franchisor. That is because the franchisee will be granted the rights to use the franchisor’s name, brand, intellectual property, confidential information, services and products, such as, for example, custom recipes, manuals, services and products, system information, production knowhow, and/or other trade secrets of the franchisor.
A buy-sell agreement, buy-out agreement or a business prenup, is typically a contract that specifies how a partner’s share of an enterprise will be reassigned if he or she happens to pass away or dispense themselves from the company. Buy-sell agreements are commonly used for closed corporations and partnerships but may be used for other types of companies as well.
In Florida, to obtain reemployment assistance benefits, an individual must file a claim with the Florida Department of Economic Opportunity. Once the claim is filed, the claim undergoes an adjudication process where the claim is reviewed for potential issues which may disqualify an individual from receiving reemployment benefits such as: reason for termination, individual’s availability, and individual’s ability to work.
A minimum performance requirement is typically a provision in a franchise agreement that creates a certain minimum standard of performance that is necessary for a Franchisee to maintain in order not to be in default on the franchise agreement. Every franchise agreement will impose different standards on their franchise locations – some covering more areas of the franchise’s operations and some covering less.
No mucha gente lo sabe, pero es importante saber que una vez que un negocio o persona desfavoreada haya participado en el programa, ni el negocio ni esa persona volverán a ser elegibles. El SBA rechazará automáticamente esas aplicaciones. Por lo tanto, una empresa puede participar sólo una vez. No importa si la propiedad y el control han cambiado por completo; la empresa será rechazada si se aplica de nuevo.
An employment contract is an agreement between two parties – an employee and an employer, that involves terms and conditions of employment. Some employment contracts may be oral, whereas others are written and contain many descriptive provisions. Oral employment contracts are enforceable but could be much more difficult to prove in court.
To rent a property in Washington, D.C., a landlord needs a Basic Business License (BBL). The landlord must first obtain the category that their BBL falls into, such as beauty services, health services, or rental housing.
Businesses can have customers sign a Release from Liability Waiver, however, this cannot replace the requirement of maintaining a safe workplace. Businesses need to make sure they are in compliance with government agencies (CDC and OSHA), state, and local guidelines. Demonstrating that the business is following the published guidelines from these authorities is the best evidence an employer can provide to show they are reasonably reacting to COVID-19 risks.
During the coronavirus pandemic, many foreign nationals have been left unable to leave the United States and have, therefore, been involuntarily stranded in the country for longer than they anticipated. Does this extended presence in the United States carry with it any tax implications for these foreign nationals?
Not many people know this but it is important to know that once a business or disadvantaged individual has participated in the program, neither the business nor that individual will be eligible again. The SBA will automatically decline those applications.
A holographic will is a will that has been written by hand by the person that is establishing the will, legally known as a testator. A holographic will is different from a standard will because it is typically neither notarized nor signed by two witnesses and handwritten.
Just as e-commerce has presented challenges for sourcing sales tax, e-commerce also presents issues for sourcing income taxes. This blog will discuss the income tax implications for online businesses.
E-commerce has created several tax-related issues for corporations conducting business across states without a physical footprint. This blog will discuss the sales tax implications for online businesses.
Small business owners pay themselves differently depending on their business structure. Sole proprietorships, S-corps, C-corps, and partnerships all have different IRS rules governing how the business can pay its owners and how those earnings are taxed.
Frustration of purpose is a doctrine in contract law that provides a defense to the enforcement of a contract. The doctrine of frustration is usually invoked when either party has been substantially inconvenienced by an unforeseeable event, whereby that inconvenience has caused the contract to become impossible to perform or has undermined the initial justification of entering into the contract in the first place.
The Securities and Exchange Commission (“SEC”) is an independent government agency created to regulate corporate securities while maintaining fair market practices. The SEC is commanded by a five-member commission who act cooperatively to enforce the rules and regulations that make up the securities market. Their authority is derived from the Securities Act of 1933 and the Securities Exchange Act of 1934.
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.
When preparing your estate plan, not only can you provide directives as to the administration of your estate, but you can also give instructions as to what will happen to your body after you pass away. Providing such instructions yourself would save your family from conflict over what should be done with your body and how you would have wanted to be buried.
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.
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.