Contracts can be one of the most important tools protecting your company right now. These legal documents are crucial in establishing expectations, defining roles and setting boundaries that can prove to be critical in just about any industry. However, a contract is only as strong as its terms. This means that if you are party to a contract that has unenforceable terms, the entire agreement itself may be voided. There are many different reasons why a contract or certain clauses may be deemed invalid. They can be challenged if they are: Inherently unfair to one party Illegal or include violations …
New Law Requires 501(c)(4) Organizations to File with the IRS
On December 18, 2015, President Obama signed The Protecting Americans from Tax Hikes Act (the “Act”). The Act contains a requirement that 501(c)(4) social welfare organizations file a notice with the IRS. Prior to the Act, 501(c)(4) organizations could, but were not required to, submit a Form 1024 requesting tax-exempt status from the IRS. The new notice requirement applies to 501(c)(4) organizations that are created after December 18, 2015 and to certain organizations existing on that date. New organizations are required to file the notice with the IRS no later than 60 days after the organization is created. For other …
The Importance of “Wrap” Documents – A Key to ERISA Compliance for Group Health and Welfare Plans
To ensure compliance with ERISA’s documentation and disclosure rules for health and welfare plans (medical, dental, vision, group term life insurance, and disability insurance plans), the plans must be set forth in written plan documents that meet specified content requirements. Although employers receive insurance policies or certificates of coverage from insurers or third party administrators, these documents rarely specify the named fiduciary, the procedures for amending the plan or the allocation of responsibilities for the operation and administration of the plan among the employer, the insurer, and the third party administrator. ERISA also requires employers to provide to each employee …
Apple hit with $625 million lawsuit for technology use violations
Business disputes have the potential to make or break a company. There can be money, reputations and even jobs on the line, which is why it can be crucial that these disputes be resolved in a fair and efficient manner. However, this can seem impossible when one of the companies involved in a business dispute is much larger, more profitable or more well-known than the other. While this can certainly present a number of complex challenges, it does not mean that company should not be held accountable for breaking the law. For example, you are likely quite familiar with Apple. …
Type II Annexation Process in Ohio
Property owners may seek annexation into a neighboring municipality for a variety of reasons. Perhaps the property owner seeks city services or city zoning. Whatever the motivation, a property owner who seeks annexation into a neighboring city can do so fairly quickly and easily under the Expedited Type II annexation process. The property owner applies to the Board of County Commissioners and if all statutory requirements are met, the process can be completed in as little as a few months. In a Type II annexation, the annexed property still remains in the township, so any property taxes levied by the …