Business organizations in Ohio and across the United States come in myriad forms, and for eminently sound reasons. Fundamentally, of course, no single business structure can be uniformly applicable for all enterprises. Business principals in one instance might be comprised of just a few members and focused predominantly on exercising close control through a family-owned company or a closely held corporation. Conversely, it might be the case that partners are highly concerned with risk-related implications and seek to address that concern through formation of a limited liability company. In many business scenarios, rapid growth is envisioned, which can logically drive …
How an attorney can help you protect your business
Running a business is an incredible undertaking. On any given day, a business owner needs to tackle matters related to employment, compensation, finances, customer service and business transactions, all while taking into account what is best for the company. This leaves little time to navigate the legal complexities of operating a business. Rather than ignore these issues or try to put them off indefinitely, Ohio employers would be wise to work with an attorney who can take on the various legal matters facing a company and work to address and resolve them. For instance, every company needs to protect itself, …
The Defend Trade Secrets Act – A Brief Overview
On May 11, 2016, the Defend Trade Secrets Act (“DTSA”) became federal law. The DTSA is intended to promote uniform protection for trade secrets, not unlike federal protections afforded to trademarks, copyrights, and patents. Before the DTSA was enacted, the law of trade secrets was primarily governed by state law (many states adopted a version of the Uniform Trade Secrets Act, but standards vary from state to state). The DTSA applies to trade secret misappropriation occurring on or after May 11, 2016 provided the trade secrets are related to a product or service used in or intended for use in …
Claim Limits in Ohio Small Claims Court Increase to $6,000 – How to Protect Your Business
Beginning September 27, 2016, small claims courts throughout Ohio will be able to hear cases with damage claims of up to $6,000. For decades, access to small claims courts has been limited to those cases with damages of $3,000 or less. The notable 100% increase marks the first increase seen in Ohio in nearly twenty years and puts the Buckeye State more on track with the national average for small claims courts nationwide. Sponsors of the increase believe it will allow small businesses to cost effectively recover debts owed. This could be attributable to the relatively minimal filing fees, expedited …
Payment-by-result contracts can be problematic
The root of a solid business relationship is typically a well-drafted, clear contract between parties. This document drives behavior, outlines expectations and specifies conditions of the relationship that must be observed. Considering how much can be at stake and protected with these contracts, it is critical that they be crafted with the specific parties and interests in mind. In other words, what works for some business relationships may not work for others. For instance, payment-by-results contracts may seem appealing for you, but they are not right for everyone. Recently, this article in the Harvard Business Review examined PbR models and …
Student Loan Discharge in the wake of ITT Technical Institutes Closure
Opportunities to wash away federal student loans are few and far between. There are some limited opportunities, even outside of bankruptcy, to get relief from the burdens of federal student loans. For students who attended ITT Technical Institutes (or any other college that has closed) and did not complete their program of study, they may qualify for a closed school loan discharge. There is (of course) a form, which you can find here. The form will need to be filled out and submitted to your loan servicer. If you don’t know who your loan servicer is, you can find that …
Attorney McHugh to Speak at YMCA “Wills & Trusts Week”
The YMCA of Greater Dayton is hosting “Wills & Trusts Week” at eleven different Dayton area YMCA’s the week of September 19th-23rd. Coolidge Wall attorney Steve McHugh will be one of several estate planning attorneys available to answer questions regarding creating or updating a will or trust. Attendees will learn the importance of proper estate planning, why you need a will, and what happens if you do not have one. Other issues which may be addressed are estate tax, probate tax, trust, and guardianship issues. Steve McHugh will be at the Trotwood YMCA on Monday, September 19, 2016, from 9-11 …
So You Want to Start a Charity
Everyday people want to know if they can to turn an activity they enjoy into a tax-exempt charity. Probably the most common reason people want to create a tax-exempt charity is to receive tax deductible donations. To receive tax deductible donations, the organization would have to be exempt under Internal Revenue Code Section 501(c)(3). For an organization to be exempt under Section 501(c)(3), the organization has to meet certain basic requirements. First, the organization has to be organized exclusively for a permitted purpose such as a charitable, religious or educational purpose. Being properly organized means the documentation filed, for our …
Merle Wilberding Receives Lifetime Achievement Award from St. Mary’s University of Minnesota
Merle F. Wilberding, a long-time attorney at Coolidge Wall and a graduate of St. Mary’s University of Minnesota Class of 1966, was recently awarded the University’s Distinguished Alumnus Lifetime Achievement Award for his contributions to his community and the nation. In 1969, he received a JD from Notre Dame Law School, and subsequently received an MBA from the University of Dayton, an LL.M in Taxation from George Washington University, and an MLIS from the University of Wisconsin – Milwaukee. During the Vietnam War, he served as a U.S. Army JAG Captain and represented the Army in 800 appeals and argued …
Eighteen Attorneys Selected for Inclusion in The Best Lawyers in America® 2017
Coolidge Wall is privileged to announce that eighteen of its attorneys were recently selected by their peers for inclusion in The Best Lawyers in America® 2017. Best Lawyers has become universally regarded as the definitive guide to legal excellence. Its process is based on an exhaustive peer-review survey on the legal abilities of other lawyers in their practice areas. Lawyers may not pay a fee to be listed, so inclusion in Best Lawyers is considered a singular honor. Corporate Counsel magazine called Best Lawyers “the most respected referral list of attorneys in practice.” The attorneys selected for inclusion in 2017 …