News, Insights & Events

Remember, Exhaustion of FMLA Leave is (Still) Not the End of the Road!

May 2018
Labor and Employment Law
Andrew D. Bobrek
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Will Your Business be in Compliance with the General Data Protection Regulation (GDPR)?

May 2018
Business and Cybersecurity
Sara C. Temes and Lisa A. Christensen
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What Could Go Wrong?

April 24, 2018
The Importance of Business Succession Planning
Merrill Jones & Zach Lamb, Ward and Smith Business Alert

Most business owners expect that their company will continue to operate after they stop working. However, successfully transitioning control of a business rarely occurs without thoughtful planning. Consideration must be given to the needs of the business as well as the personal needs of the business owner and the business owner’s family. Typically, a business owner must utilize a team of advisors such as attorneys, accountants, and financial advisors to develop and implement a plan that achieves the owner's desired goals.

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Look Before You Sign … the Pitfalls of Personal Guaranties

April 24, 2018
Thomas Wolff, Ward and Smith Creditors' Rights Alert

Limited liability protections afforded by various corporate, limited liability, or limited partnership laws normally insulate business owners from personal liability for their business's debts. However, lenders routinely require a small business owner to sign a personal guaranty as a condition for a commercial loan to the business entity, essentially circumventing the statutory protection against personal liability.

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Focus on Military Readiness Means More Construction Work on Military Bases

April 24, 2018
Are Contractors Ready to Compete and Perform?
Jamie Norment, Ward and Smith Construction Alert

Readiness is not as exciting as futuristic weapons systems or as dramatic as battle. Instead, readiness focuses on the military's more mundane, but essential, ability to train, house troops, repair equipment, and plan for mobilization. Readiness undergirds the core ability of the military to defend the United States. We are seeing a new emphasis on readiness.

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USDOL Releases New FLSA Guidance for Higher Education Institutions

April 2018
Labor and Employment Law
Bond, Schoeneck & King, PLLC
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New Legislation Focused onPreventing Sexual Harassment Included in the 2019 New York State Budget

April 2018
Labor and Employment
Bond, Schoeneck & King, PLLC
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U.S. Supreme Court Rejects Narrow Construction of FLSA Exemptions

April 2018
Labor and Employment Law
Subhash Viswanathan, Stephanie Fedorka
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Can I Secure a Loan with Bitcoin? Part I

April 5, 2018
Lance P. Martin, Ward and Smith Creditors' Rights

If virtual currencies continue to grow in popularity, it's only a matter of time before borrowers offer to pledge virtual currency as collateral for loans. This article does not advise lenders on whether they should secure loans with virtual currency, but instead it focuses on whether a lender can use the familiar tools of Article 9 of the Uniform Commercial Code ("UCC") to create and perfect a security interest in bitcoin.

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Can I Secure A Loan with Bitcoin? Part II

April 5, 2018
Lance P. Martin, Ward and Smith Creditors' Rights

Because bitcoin is likely a general intangible under Article 9, lenders cannot be certain that bitcoin is not encumbered with other security interests before being pledged by the holder. And the nature of bitcoin means it is nearly impossible for a lender to exercise “control” over bitcoin for default and repossession purposes.

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Best Practices For Homeowner Association Directors and Boards

April 5, 2018
Eric J. Remington, Ward and Smith Community Associations

The typical community association is governed by a board of directors comprised of volunteers who are elected by their fellow owners. The directors manage the corporate affairs of, and set policy for, the association, and as a result, they often become the main focus of dissatisfied members. This can lead to directors being sued individually for failing to fulfill their duties to act in the best interest of the association, its owners, and directors. As a result, associations often encounter a lack of interest and willingness of members to serve on their board. However, if a board and its directors follow a simple set of best practices, they can avoid many problems and thereby encourage community members to serve on the board. These practices benefit not only the board and its members, but the community as a whole. Below are some best practices which should help directors and boards avoid common pitfalls.

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Delaware Law on Blockchain and Other Automated Stock Transfer and Records Systems

April 5, 2018
Benji Taylor Jones & James F. Verdonik, Ward and Smith Fintech

Corporations are also required to keep a ledger of stock transfers. For many businesses, this is a fairly simple task because their stockholders rarely change. If your stockholder base is more active, however, automating the stock transfer record keeping process through blockchain software may be useful to you. In fact, one of the best applications for blockchain technology is automating the tedious process of maintaining stock ownership records. Several states have already changed their corporate statutes to permit the use of blockchain and other technology to record corporate records, including stock ownership ledgers.

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