FTC outlaws noncompete agreements

The Federal Trade Commission (“FTC”), as it had signaled, recently banned noncompete agreements for most U.S. workers, which will affect an estimated thirty million employees. The new rule of the FTC prohibits employers from including noncompetes in employment contracts and requires those with active agreements to inform workers that they are void. It also attempts […]

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Conveying Property To An Llc: Effect On Title Insurance

In the past, there was a real concern about potentially losing one’s title insurance coverage when transferring a property from an individual to an LLC or other entity owned by that person. Thankfully, beginning in 2006, ALTA title insurance policies cover an LLC to which an individual deeds their property for estate planning, financial reorganization […]

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Corporate Transparency Act (“CTA”) Ruled Unconstitutional

As you may have heard, on March 1st, in the case of National Small Business Association vs. Yellen, a federal district court in the Northern District of Alabama found the CTA to be unconstitutional. The plaintiffs in the case, the National Small Business Association (“NSBA”) and one of its members, filed a lawsuit in November […]

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Real Estate Law Alert

SPOTLIGHT:  COMMERCIAL SALES PROPERTY SURVEYS:BACKGROUND In real estate transactions typically involving either the acquisition of, or lending against, a piece of property, questions often arise as to whether to perform a survey of the property and, if so, what type. Generally, a survey is a map of given property containing certain information about it. It’s […]

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Entity filing deadlines under the corporate transparency act (“cta”)

The most important question under the new CTA is when businesses must file their initial beneficial ownership information (“BOI”) reports. That filing deadline depends on when the entity was formed. Entities created or registered on or after January 1, 2024 and before January 1, 2025 have ninety calendar days from notice of their creation or […]

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Pitfalls of tenancy in common ownership

Although it’s fairly uncommon, individuals or businesses sometimes choose to own commercial property as tenants in common, with no survivorship rights. Although there are some tax benefits associated with such an ownership structure (including, but not limited to, those related to 1031 exchanges), various pitfalls are presented under state real estate law which the owners […]

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Member Spotlight – Why John Petrony values his independence and focused legal work in Poland.

John Petrony has spent most of his career running his legal practice in the old steel mill territory close to Pittsburgh. John started his legal career back in 1993 after graduating from law school and soon found his niche focusing in corporate work and commercial real estate in a few law firms. With this experience […]

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Which Entities Must Report Under Thecorporate Transparency Act (“Cta”)?

Business entities that fall within the definition of a “reporting company” under the CTA and that are not otherwise exempt face certain reporting obligations under the CTA. Most importantly, for our purposes, the definition of “reporting company” includes so-called “domestic reporting companies.” Domestic reporting companies are defined as corporations, LLCs or other entities created by […]

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Business Law Alert – January 2022

SPOTLIGHT:  LIMITED LIABILITY COMPANIES CHANGES TO DISSOLUTION PROCESS Two significant changes were made to the process for dissolving an Ohio LLC in Ohio’s new limited liability company act. First, the following items have been removed as dissolution triggers under the new act: An event that makes it unlawful for all or substantially all of the […]

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