The Decision Maker's Magazine
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Employers in Nevada and every state have historically used unpaid interns for a variety of reasons, it being taken for granted that the research, filing and coffee-schlepping were necessary steps to career growth. Now, as 2014 gets underway, a series of closely-watched lawsuits may mean that the army of interns may not be back next… [More...]
1) Letters of Intent A “non-binding” letter of intent is commonly pursued when parties begin business discussions. Unfortunately, if one of the parties has a change of heart, the letter of intent may work against those who attempt to walk away. Certain phrases can cause the letter of intent to mean more than was originally… [More...]
“Real peace is not the absence of conflict. Rather it is that state where conflict is managed effectively, efficiently and respectfully.” – Unknown Conflict resolution can be viewed on a continuum, with negotiation on one end, and a decision(s) by a judge(s) on the other. In between lies mediation, which is facilitated negotiation and arbitration.… [More...]
When a business sells goods or services, that business can expect to be paid. However, payment is not always the reality. If a business is not getting paid, there are options to seeking repayment, either informally or formally. If the informal methods of trying to convince the debtor to pay have been unsuccessful, business owners… [More...]
Are you operating a franchise system without realizing it? If you are licensing to others the right to use your trademark for a fee, the answer could be yes. Under both federal and some state laws, a business relationship may be a franchise — even if neither of the parties intended to create one. At… [More...]
While a patent holder may derive substantial revenue though licensing its patent portfolio, engaging in licensing negotiations presents a number of potential traps for the unwary. In the April issue of Nevada Business Magazine, we discussed the risk that, by entering into licensing negotiations without exercising due care, a patent holder can subject itself to… [More...]
One of the favorite tools insurance companies use to deny a claim is to assert the insured failed to cooperate or somehow impeded the insurance company’s investigation. In order to avoid this potential pitfall, Nevada businesses must be aware of their contractual duties to cooperate. First-party insurance policies, that insure the policyholder’s own property as… [More...]
The federal government is the world’s biggest customer of goods and services with purchases totaling more than $425 billion per year from construction and technical services to office furniture and grounds maintenance services. This allows for many revenue opportunities for small businesses, especially women-owned, disadvantaged, service-disabled veteran owned, and businesses located in areas identified as… [More...]
Thanks to the recently-passed America Invents Act, Nevada businesses may find it easier to get “patent pending” status for their inventions, but the race against competitors has not yet begun. Perhaps most notably, the Act will transform the U.S. patent system from a “first to invent” to a “first to file” system, the first major… [More...]
The U.S. Supreme Court has decided to review the case brought by 26 states challenging the constitutionality of the Patient Protection and Affordable Care Act (PPACA). Some legal commentators believe that this is the most significant case to come before the Supreme Court since Roe v. Wade. Underscoring the importance of the constit Tutional questions posed… [More...]
After receiving much success from its Voluntary Offshore Bank Account Disclosure Program, the Internal Revenue Service (“IRS”) has now decided to provide an opportunity for businesses to come clean by reclassifying workers as employees for federal employment tax purposes. The IRS announced on September 21, 2011 that it has developed the Voluntary Classification Settlement Program… [More...]
Green building emerged as somewhat of a proactive or “feel good” movement. While some may dismiss “green” as a passing trend, regulators from local to federal levels are creating laws and regulations that will ensure green building is around to stay for at least the near future. Perhaps most significantly, recent EPA action will regulate… [More...]
“Revenue solutions” are the talk of Carson City as the Nevada Legislature heads into its final week. Unsatisfied with Gov. Brian Sandoval’s newest proposals to hold state spending in the next budget cycle at a similar level to the current budget cycle, majority Democrats are pressing for more taxes on Silver State businesses, workers and… [More...]
From time to time, attorneys get calls from clients who have just received scary-looking subpoenas “commanding” them, in ALL CAPS, to produce documents in legal proceedings pending in other states. These subpoenas often seem, at first blush, to have nothing to do with the client. Sometimes the subpoena seeks employment records of current or former… [More...]
Q: “I just discovered that I hired an employee who is bound by a non-compete agreement with his former employer. What do I do now?” Under Nevada law, a post-employment restrictive covenant — sometimes referred to as a “non-compete agreement” — is enforceable against a former employee if it is reasonable and not countered by… [More...]
The avalanche of foreclosures over the past few years has resulted in many changes to both the nation’s banking laws and Nevada’s residential mortgage foreclosure process. Many of these changes seek to provide greater protections to homeowners against perceived lender abuses. Stricter procedures on how banks can foreclose on a home may also be on… [More...]
Senate Bill 61 offers new opportunities for business trusts Over the years, common law trusts have been to preserve and protect property due to their flexibility. However, as the common law underpinning trusts is slowly becoming outdated, 15 states, including Delaware, have codified business trusts in their business entity statutes. Through Senate Bill 61, effective July 1,… [More...]
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Series LLCs: Protect Your Investment
With home prices at historic lows, and mortgage interest rates around 4%, real estate investment is on the rise. If you own (or are considering owning) multiple rental properties, consider starting a series LLC (“Series LLC”) to maximize liability protection and save costs. Since the creation of limited liability companies (“LLCs”), an owner of multiple… [More...]