When Employees Commit Electronic Theft

In Business Law by Coolidge Wall

For business owners, holding an edge in the market depends on safe communication and storage of data and proprietary information. While theft of trade secrets once conjured up the image of cumbersome files bring stuffed into a briefcase, loss of essential data now occurs with the simple click of a mouse. In August, two New York men were charged with compiling and stealing information from their employer with the intention of using it to start their own business. The info allegedly taken from their employer, Manhattan-based Flow Traders, included proprietary computer code, trade strategies, and valuation algorithms. According to the …

Supreme Court Asked to Decide If Corporations Have Religious Freedom

In Business Law, Healthcare Reform by Coolidge Wall

As discussed in an earlier blog post, the Patient Protection and Affordable Care Act (“ACA”) created a controversy about whether for-profit corporations have religious freedom. The issue concerns the requirement under ACA that health insurance sufficient to avoid penalties must include coverage for certain forms of birth control. Businesses closely held by families with strong religious convictions are objecting to this requirement as an infringement of religious freedom. In June Hobby Lobby and Mardel, Christian corporations owned by the same family, received a court order preventing the federal government from enforcing the contraception requirement and any related penalties. Also in …

Do For-Profit Corporations Have Religious Freedom?

In Business Law, Healthcare Reform by Coolidge Wall

A provision under the Patient Protection and Affordable Care Act (ACA) has raised the question of whether for-profit corporations have religious freedom. The ACA through guidelines from the Health Resources and Services Administration requires that non-grandfathered group health plans and individual health insurance cover, without cost to the individual, all FDA-approved contraceptive methods. The FDA-approved methods include contraception known as the “morning-after pill” and the “week-after pill”, which the FDA has acknowledged can terminate pregnancy after conception. While exemptions for contraception coverage have been made for religious non-profit corporations, no exemptions are available to for-profit corporations. In Oklahoma (10th Circuit …

Your Business May be Owed a Tax Return

In Business Law by Coolidge Wall

Getting an unexpected bonus is always nice, especially if you own a small business. On December 18, 2012, Ohio Governor Kasich and Tax Commissioner Joe Testa announced that the Ohio Department of Taxation (ODT) is implementing a new policy of notifying business taxpayers of potential tax overpayments, beginning with the Commercial Activity Tax (CAT). The ODT has already identified about 3,500 CAT taxpayers that may be eligible for refunds totaling $13.7M. ODT believes that approximately 11,000 CAT taxpayers will be eligible for tax refunds. ODT will send letters to all potentially eligible business taxpayers notifying them that they may be …