Alan N. Walter Founders may form many types of entities, including partnerships and regular corporations (C Corps), but two of the most popular types are limited liability companies (LLCs) and Subchapter S corporations (S Corps). Generally speaking, LLCs and S Corps are entities that allow profits and losses to be passed through to the owners of the entity, … Read more
There was a young man called George Santos / Whose life was a series of scant hopes / Thought he, “nothing can beat / A congressional seat” / So he lied and he lied, and he lied and he lied, and he lied and he lied, to the utmost
Sherlock Holmes in the public domain / Moriarity can only complain / The game is afoot / It’s time for a book / Sit back and have some [cough] champagne / More on copyright here and here.
An elderly lady with old money and new / Invested her wealth with the FTX crew / They bungled and stole / Left her deep in a hole / And now the old woman, she lives in a shoe / More on digital assets.
Word, Kanye, Kyrie / National Brotherhood Week / Words, natch, Tom Lehrer / In recognition of International Day for Tolerance. More on Tom Lehrer here.
LLC, a choice / Operating agreement / A necessity / More on LLC operating agreements here.
Non-competition / Employer: no loss, all gain / Sign the non-compete / Non-competition / Employee: fettered in chain? / Hold the non-compete / More on non-competition agreements here.
Here are two examples of contractual provisions that just made me chuckle: The first is from an asset purchase agreement. It’s not unusual for contracts to provide that the death of a key person will be a default. But how many allow that particular default to be cured? Buyer shall be in default under the … Read more
Entity structure / Limits liability / Care must be taken / More on piercing the corporate veil here.
NFTs are still hot. $37 billion of transactions in the first four months of 2022. So, what’s the story with NFTs? And how do you monetize them? We’ll get to that second question, but let’s start from the beginning. And check the glossary — on the right or below, depending on your device — for … Read more
It’s Not a 501(c)(3) A 501(c)(4) organization is an organization not organized for profit and operated exclusively to promote social welfare. 501(c)(3) and 501(c)(4) organizations are different. 501(c)(3) organizations are organized for charitable purposes; 501(c)(4) for social welfare purposes Both types of organizations are exempt from federal taxes, but only the 501(c)(3) organizations may receive … Read more
The Consolidated Omnibus Budget Reconciliation Act (“COBRA”) gives workers who lose their health benefits and their families the right to choose to continue group health benefits for limited periods of time under certain circumstances such as job loss, reduction in the hours worked, transition between jobs, death and divorce. Qualified individuals may be required to … Read more