Founders often dream about the IPO moment—the bell-ringing, the headlines, the validation. But what’s often overlooked is what ownership actually looks like by the time you get there....more
Assume that X and Y agree to the following: X will transfer ownership of Prop to Y, and Y will transfer cash to X. What just happened? Obviously, X has sold Prop to Y. If the amount of cash that X receives is greater than...more
As we all gaze into our crystal balls and try to predict what will happen in 2024 with any degree of certainty, our views are pretty hazy. Think back to this time last year, which was filled with much handwringing,...more
In an earlier post, we wrote about a fascinating law firm limited liability partnership dispute culminating in a thoughtful post-trial decision by Erie County Commercial Division Justice Timothy J. Walker. Capizzi v Brown...more
On January 19, 2021, the U.S. Court of Appeals for the Fourth Circuit issued a noteworthy decision in Lemon v. Myers Bigel, P.A., No. 19-1380, 2021 WL 161978 (4th Cir. 2021), affirming a decision by the Eastern District of...more
Title VII of the Civil Rights Act of 1964 protects employees from discrimination based on a range of protected classifications. However, Title VII only applies to employment relationships and cannot be used by contractors,...more
The global coronavirus pandemic is of course a challenging time. Many businesses have been hard hit and may not recover. Unemployment has skyrocketed. On the other hand, there are many businesses that have been only mildly...more
As more companies file for Chapter 11 amid the pandemic, expect to see more filings focus on reducing labor, legacy and environmental costs as key to a successful reorganization. This theme will come from debtor management...more
On December 3, 2019, the U.S. Court of Appeals for the Eighth Circuit affirmed the decision of the District Court for the Eastern District of Missouri holding that a former equity partner at a law firm was not an “employee”...more
Earlier this year, we wrote about a partnership dispute involving a prominent insurance litigation firm, D’Amato & Lynch, LLP. In that case, a lawyer who enjoyed the title and certain trappings of “partner” tried, but failed,...more
Some interesting links we found across the web this week: Four Things Every Smart Startup Should Do as It Scales - Positioning your startup for success as it continues to grow can be a challenge. In this Xconomy...more
As equity valuations of public companies remain high in comparison to recent historical norms, the use of public company stock as an acquisition currency by SEC registrants in acquisitions of private companies will continue,...more
Executives at both public and private oil and gas companies commonly receive performance-based incentives. The objective is to link compensation closely to the financial results of a firm. These performance-based incentives...more
Big Law is no stranger to providing advice on pay equity or defending pay equity lawsuits. But until recently, headlines generally featured lawsuits challenging the compensation practices of their clients, not the law firms...more
Breweries are sprouting up all over, just like we hope spring is! If you are contemplating joining the craze, here are a few tips to keep in mind...more
This past August, Sapporo bought Anchor Brewing. Anheuser-Busch InBev has bought Wicked Weed, Four Peaks, and many more breweries. If and when your turn comes, will you be ready? Here are a few things craft breweries can do...more
Some interesting links we found across the web this week: Why You’re Wiser With an Adviser - Regardless of your experience, you will need advice about your startup. ...more
Group medical and dental practices often look to expand their practices by hiring additional professionals, typically those with less experience than the equity owners of the practice group. Invariably, both the group...more
Is Your Firm Among the 13%? Emulating the Fastest-Growing Firms in the New Legal World - The November 2014 issue of The American Lawyer headlined with an engrossing article by Aric Press entitled “BigLaw’s Reality...more
We are often asked what we think law firms will look like in the future. What will the leverage model be? Will the Equity Partner class be larger or smaller? How will the changes in the business impact staffing? These are all...more
On June 17, the Attorneys for Family Held Enterprises (AFHE) held a midyear conference in New York City. The agenda began with an interactive presentation titled "Understanding Conflicts of Interest and Current Events in the...more
In the early stages of a new venture, things move quickly. An entrepreneur will talk with many different potential team members, some of whom aren’t a good fit, some of whom become co-founders and valued long-term partners,...more
In Clyde & Co LLP v Bates van Winkelhof, the Supreme Court decided that a member of an LLP (who was also a full equity partner) was a “worker” for the purposes of whistleblowing legislation. Although the judgment does not...more
Background - The rights conferred on an individual working in the UK depend on his or her employment status. An individual can be: (a) an employee; (b) self-employed; or (c) a “worker”. Employees enjoy the greatest...more
The protections of the New Jersey Conscientious Employee Protection Act (CEPA) do not extend to partners with significant control over their company. In Largie v. TCBA Watson Rice, LLP, 2013 WL 4487456 (D.N.J. Aug. 20, 2013)...more