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Term Sheets & Their Role in Business Whether seeking to obtain financing, negotiating the purchase of real property, or entering into a partnership, most small business owners will encounter term sheets at some point. In its most basic form, a term sheet is a non-binding document that sets forth the material terms and conditions of a […]

Will Legislature pass proposed Amendment to the Compassionate Use Medical Marijuana Act?  The use, possession, sale, cultivation, and transportation of marijuana, whether for recreational or medical use, is illegal under federal law. However, over the last several years, both Congress and President Obama have signaled that well-regulated state medical marijuana programs should not be targeted for […]

Growing Circuit Split Over United States v Newman Insider Trading Case In convicting a Massachusetts attorney of insider trading, the First Circuit Court of Appeals declined to impose the higher standard established by the Second Circuit in the United States v. Newman insider trading case. The decision adds to the circuit split regarding insider trading cases, which […]

The new Bipartisan Budget Act of 2015 could have massive tax implications for partnerships Congress recently revamped the rules by which the IRS examines partnerships for tax purposes with the repeal of the Tax Equity and Fiscal Responsibility Act of 1982. TEFRA rules, otherwise known as unified audit and litigation procedures. The TEFRA rules were […]

Ultra Petroleum files Chapter 11 Recently, Ultra Petroleum, the largest natural gas company in Wyoming and one of the biggest firms in the nation, announced that it had filed for Chapter 11 bankruptcy protection. According The Wall Street Journal, the company cited several months of financial decline for its decision. Ultra Petroleum falls into insolvency In […]

The DOL amended the fiduciary definition The Department of Labor recently issued its final regulations to alter the definition of a fiduciary under ERISA effective Apr. 10, 2017. These “conflict of interest” rules will expand ERISA protections for participants by broadening the personnel treated as fiduciaries which render fee-based investment advice. With the new rules, […]

An emerging trend: Reality TV crowdfunding Reality television programs developed by large production companies have saturated the TV lineup. However, the internet and crowdfunding services have opened new doors for unscripted hopefuls – reality tv crowdfunding could be the next big thing for the craze. Potential reality TV stars striking out on their own  J.R. […]

Aéropostale files Chapter 11 Clothing retailer Aéropostale recently announced that it had filed for Chapter 11 bankruptcy protection. According to a report in Fortune, the company filed its bankruptcy petition late last month, even as it attempted to find a buyer. Aéropostale decides to seek bankruptcy protection Bloomberg reported that the company filed for Chapter […]

The U.S. Supreme Court recently held that the statute of limitations begins to run in a constructive discharge lawsuit when the employee provides notice of his resignation. The Court’s 7-1 decision in Green v. Brennan resolves a circuit split on the issue and should make it easier for employers to determine whether a suit is […]

Changing to an S Corporation Business or selecting an “S-Corp” is becoming popular for small business owners. In recent years, changes in tax laws have affected the way small businesses elect to be taxed. Businesses typically form corporations when transitioning from a sole proprietorship to a larger entity with multiple owners or employees. However, now businesses are more […]

The NFL’s Disability Payment Plans Football is a dangerous sport, however, the degree of risk is somewhat mitigated by the fact that disability payment plans exist for former players.  Athletes get hurt often, and the sport of football is no exception to this. Numerous players have seen their careers end following devastating injuries. Typically, in terms […]

American Idol’s production company, Core Media Group, files chapter 11 It was recently announced that Core Media Group, the company that produces “American Idol” and “So You Think You Can Dance,” had filed for Chapter 11 bankruptcy protection. According to the New York Times, the company cited low ratings for “American Idol,” its flagship franchise, in […]