Only a small number of jurisdictions have laws (and Colorado is one of them) requiring employers to provide information about employee compensation in job postings, but pay transparency is becoming a best practice in corporate America. There is a growing movement among organizations of all sizes to now include pay ranges in their job postings, regardless of whether they are subject to pay transparency legislation.
Employers should be aware of the states and cities that have implemented pay disclosure requirements, which typically also apply to remote workers, to avoid violations. Workplaces implementing a pay transparency policy should also understand its legal risks, including possible exposure to equal pay and discrimination claims. The Pay Transparency Push Led by a younger generation of workers and a greater emphasis on equity, pay transparency is now becoming more common. Since 2020, eight states and several localities have passed salary range laws, while many more locations are considering them. Legislation and rules have been proposed at the federal level to address pay transparency as well. States and Cities with Pay Transparency LawsAs of June 2024, eight states have enacted salary range transparency laws:
0 Comments
5 Key Reasons Why Hiring a Commercial Real Estate Attorney is a Game-Changer for Your Business6/18/2024 Are you a business owner looking to lease or purchase commercial real estate? Then hiring a commercial real estate attorney could be a total game-changer for you. Commercial real estate transactions can be complex, with numerous legal implications that can significantly impact your business. That's why having an experienced attorney by your side is essential for navigating the intricate legal landscape.
In this article, we will discuss five key reasons why hiring a commercial real estate attorney is crucial for your business's success. From negotiating and drafting contracts to conducting due diligence and resolving title issues, a skilled attorney can provide invaluable assistance throughout the entire process. They can help you understand the legal jargon, protect your rights, and ensure that you make informed decisions that align with your business goals. Don't risk exposing your business to potential legal risks or signing unfavorable agreements. Discover why hiring a commercial real estate attorney is a smart business move that can save you time, money, and headaches in the long run. So, let's dive right in and explore how working with a commercial real estate attorney can revolutionize your business. Expertise and Knowledge of Commercial Real Estate Laws One of the primary reasons to hire a commercial real estate attorney is their deep expertise and knowledge of the laws governing commercial property transactions. These attorneys specialize in the unique legal aspects of commercial real estate, including zoning laws, land use regulations, environmental issues, and lease agreements. Their understanding of these complexities can help you navigate the intricacies of commercial real estate deals with confidence. Are you a business owner looking to achieve legal success? If so, hiring a business attorney could be one of the smartest decisions you make. A business attorney brings a wealth of expertise and knowledge to the table, helping you navigate the complex world of business law with confidence.
With their deep understanding of laws and regulations, a business attorney can assist you in various legal matters such as contracts, intellectual property rights, employment law, and more. They can provide valuable advice and guidance, ensuring that your business processes are compliant and legally robust. Working with a business attorney also provides you with a layer of protection. They can help you proactively identify and mitigate potential legal risks, shielding your business from costly lawsuits and legal disputes. Furthermore, having a business attorney on your side can instill trust and confidence in your stakeholders, whether they are clients, investors, or partners. It shows that you prioritize legal compliance and that you have a professional advocate looking out for your business’ best interests. When it comes to legal success, don't leave it up to chance. Hire a business attorney and gain a competitive edge in the market. Small business owners will have one more item on their compliance to-do list when the Corporate Transparency Act (CTA) takes effect next year.
The CTA,[1] enacted as part of the Anti-Money Laundering Act of 2020 (AMLA), places new reporting requirements on many business entities in an effort to expose illegal activities, including the use of shell companies to launder money or conceal illicit funds. Around 30 million small businesses will be impacted by the law, which will establish a federal database of information, furnished by “reporting companies,” that will be accessible to certain authorities and organizations. A final rule has been issued stating how the new law will be implemented to help businesses understand whether the law applies to them, how to comply, and which agencies will have access to the information they must report. CTA violations carry civil and criminal penalties, including imprisonment. Why was the CTA passed? The CTA was passed as part of the National Defense Authorization Act for Fiscal Year 2021. It directs the US Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) to gather information from private companies about their owners and controlling persons. Acting Director Himamauli Das said, “FinCEN is taking aggressive aim at those who would exploit anonymous shell corporations, front companies, and other loopholes to launder the proceeds of crimes, such as corruption, drug and arms trafficking, or terrorist financing.”[2] To counter the risks allegedly posed by anonymous shell companies, the CTA mandates the creation of a national registry that contains certain information about business entities that are formed by filing a document with a state’s secretary of state or similar office. What does the CTA require? [1] National Defense Authorization Act for Fiscal Year 2021, Pub. L. No. 116-283, 134 Stat. 3388 (Jan. 1, 2021). [2] Press Release, U.S. Dep’t of the Treasury, Financial Crimes Enforcement Network, FinCEN Issues Proposed Rule for Beneficial Ownership Reporting to Counter Illicit Finance and Increase Transparency (Dec. 7, 2021), https://www.fincen.gov/news/news-releases/fincen-issues-proposed-rule-beneficial-ownership-reporting-counter-illicit. .An operating agreement is a contract that controls your LLC’s operations as well as member interaction with each other and with the LLC. You may think that an operating agreement is not necessary for your single-member LLC - after all - why make an agreement with yourself?
Is the Operating Agreement a Legal Requirement? Most states don’t require an LLC to have an operating agreement. Of the states that do, some require the operating agreement be written while others permit oral agreements. No state requires an LLC to file an operating agreement with the Secretary of State; instead, the operating agreement is kept with other business records. No matter what state you’re in, however, it’s always a good idea to create a formal, written operating agreement—even for a single-member LLC. Here’s why: REASON 1 – Avoid State-Imposed Default Rules Without an operating agreement in place, your LLC is bound by the default rules of your state. Most state laws governing LLCs allow the default rules to be overwritten in the LLC's operating agreement A business contract dispute can be an extremely stressful and complicated situation, and the attorneys at Bailey & Peterson, P.C. work hard to make the process easier for you.
The best way to avoid dealing with a contract dispute is to ensure that the contract is properly prepared from the start. It is important that the contract is drafted correctly and that all of the terms of the business agreement are clearly stated. One of the most important steps to take in preparing a contract is to make sure both parties to the contract are aware of what their responsibilities are, what the consequences will be if either party fails to live up to their end of the bargain, and what the remedies will be if one party needs to pursue a legal claim. Any grey area or uncertainty leaves room for interpretation and argument, which can cause lengthy and expensive litigation. For an expertly drafted contract, it's best to have an attorney create and/or review to make sure you are protected. Just because you’re starting a small business doesn’t mean that you want your business to stay small. Depending on what you want to market, you may envision your business growing into something much bigger. A “startup” can be any company in the early stages of development, but the main difference between a typical small business and a startup is that the latter is focused on growth.
Generally, a startup is a business venture launched by either 1 person or a small founding team of entrepreneurs who seek to fill a gap or create a new niche in the market with a certain product or service. A startup may be financed by its founders or may try to attract outside funding through friends, venture capitalists, or lenders, and each of those funding options will carry different risks and require different strategies. When it comes to choosing a business structure for your startup, there is no one right answer. You should consider factors such as financial projections, goals, and risks as well as local, state, and federal laws before deciding which structure suits your needs. You should carefully consider the advantages and disadvantages each business entity can offer your new company. An experienced attorney can help you understand the pros and cons of each as they apply to you. It has been a tough year for small businesses. Across the country, millions of small businesses have temporarily closed their doors due to the COVID-19 pandemic. Even now, as the pandemic eases and operations begin to pick back up, many small businesses report that they are struggling to fill open positions.
But business owners are resilient and creative. Despite the difficulties of the past year, most businesses expect to survive the pandemic, and interest in starting a new business remains high. Many aspiring business owners are interested in becoming franchise owners. In this uncertain economic climate, starting a franchise offers several benefits over other paths to business ownership. Starting a new nonfranchised business is riskier than franchising, can require more upfront capital, and does not provide the network of training and support often available to franchisees. Franchising, like any business, requires planning, preparation, and paperwork... Where do you find a good plumber? Who can recommend a good Italian restaurant? Who is the best divorce attorney in town? Sometimes these answers are found by asking family, friends, and neighbors, but many people find answers to these questions on social media and review sites such as Google, Yelp, Amazon, Facebook, and TripAdvisor. Customer reviews and testimonials are excellent marketing tools for a business because they build trust and goodwill and showcase your brand’s history. However, before you use them to promote your business, you need to be aware of what you can and cannot do.
The Federal Trade Commission (FTC) is... Confused about the differences between a will and a trust? If so, you are not alone. While it is always wise to contact experts like us, it is also important to understand the basics. Here is a quick and simple reference guide:
What a Revocable Living Trust Can Do – That a Will Cannot
What a Will Can Do – That a Revocable Living Trust Cannot |
Archives
July 2024
Categories |