Is Everything Awesome at Your Business?

Watching “The Lego Movie” with my son, I was introduced to a world where “everything was awesome”; people were settled in their routines and were living happy, carefree lives.  In reality, however, behind the scenes, there was an evil plot afoot which, if successful, would destroy their entire world forever on “Taco Tuesday.” Step Outside of Your Comfort Zone It was only when Emmet, who seems to be an ordinary guy, steps outside of his…
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Time for Employers to Amend their Confidentiality and Non-Compete Agreements

With the recent passage of the Defense of Trade Secrets Act (DTSA), all employers need to take another look at their confidentiality and non-compete agreements.  On the one hand, the DTSA now provides a federal cause of action for misappropriation of trade secret claims with more equitable relief along with compensatory damages, punitive damages, and attorney’s fees.  On the other hand, it grants immunity to employees (and contractors) who make a disclosure of a trade…
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Preventing a Painful Tax “Bite” from a TIC

During the 2000’s, many real estate investors diversified their Section 1031 exchange funds by investing in Tenant-in-Common (TIC) investments. Since the majority of TIC investments were financed using CMBS loans which had an eight- to ten-year term followed by a balloon payment. As those loans reach maturity, TIC investors must decide whether to refinance or sell their properties, sometimes within very tight time frames dictated by their existing mortgage loan documents. The Challenge IRS requirements…
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What Is A Trust And Do I Need One?

You may have heard someone tell you that you need a trust. Some attorneys believe that every person who walks the earth should have a trust, however I believe it is a more nuanced decision that should be driven by the client’s goals. Our legal system in America is mostly based on English common law, where the concept of trust was used during the Middle Ages when a landowner went to fight in the Crusades,…
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Time to Start Preparing for The New Overtime Regulations

**SEE UPDATED BLOG POSTED DECEMBER 2016** Starting on December 1, 2016, the minimum salary level to qualify for the executive, administrative or professional exemptions (the so called “white collar exemptions”) under the Fair Labor Standards Act (“FLSA”) will increase to $47,476 annually.  This is a big jump from the previous minimum salary level of $23,000 annually.  Put in simple terms, white-collar employees making less than $47,476 will not meet the test for the “white collar…
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It’s a Letter of Intent. It’s a Term Sheet. No, It’s a Contract!

Letters of intent and term sheets (LOI’s) are frequently used to help parties set forth the framework to a transaction as an aid in negotiating a final contract.  Most LOI’s include a disclaimer sentence saying that with possibly a few exceptions, the LOI is “non-binding.” However, LOI’s and Clark Kent have a lot in common in that both aren’t quite what they seem.  Just like the stalwart and ordinary Clark Kent can enter a phone…
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