Blog

In Massachusetts, the Supplier Diversity Program is a state program that encourages state agencies to award state contracts to certified diverse businesses. To qualify for the program, companies must be certified as a diverse business in any of the following categories: Minority Business Enterprises Women Business Enterprises Service-Disabled Veteran Business Enterprises Veteran Business Enterprises Lesbian, […]

In today’s hard economic environment, it is often hard for borrowers to obtain conventional loans from a lender. As a result, it is often necessary for borrowers to turn to less conventional lenders, sometimes referred to as hard-money lenders. The non-traditional lenders often times charge interest rates much higher than that of a traditional lender […]

In the matter of Empire Dealer Services, Inc., et. al. v. Kimberly A. Guerin, et. al, a Massachusetts Court recently granted a preliminary injunction to a corporation enjoining a minority shareholder/former employee from directly competing. Kimberly Guerin (“Guerin”) was vice president and a minority shareholder of Empire Dealer Services, Inc. (“Empire”). In March of 2022, […]

Most astute entrepreneurs will avoid running a business as a sole proprietor or as part of a partnership and opt to limit their personal liability by forming a separate entity to operate the business. A corporation or a limited liability company (“LLC”) is often the best vehicle to shield the business owner’s personal assets from […]

Imagine you receive an email from a known creditor containing an invoice for an account payable. The email contains instructions for you to pay the invoice through an accredited clearing house (“ACH”). The email further contains the creditor’s bank account information for depositing the ACH payment. You pay the invoice by depositing the ACH payment […]

In a stunning proposal, the Federal Trade Commission (FTC) has proffered a universal ban on noncompete agreements. This proposal, albeit a considerable step away from the norm, was not necessarily unpredictable. Most recently, the FTC made a preliminary finding that noncompete agreements constitute an unfair method of competition and therefore violate Section 5 of the […]

Commercial construction projects of $3 million or more are subject to the Prompt Payment Act, G.L.c. 149, §29E (“PPA”), which ensures prompt payment, or resolution, of disputes about, invoices for periodic payment made by contractors during the course of work. It requires owners to approve or reject periodic payment requests within 15 days after submission […]

Creating incentives for employees to perform better can take many forms, such as merit bonuses or grants of equity through restricted stock or stock options. Each strategy should have the effect of aligning the employee’s interests with the long-term success of the company, and hopefully creating an economic incentive for the employee to increase their […]

The old adage “Failing to plan is planning to fail” can easily be applied to owning a business. Business owners need to be prepared for the many contingencies that come up during the lifecycle of their business. Much like a person’s estate plan, proper planning should be taken to ensure as little disruption as possible […]

The Federal Arbitration Act (“FAA”), long a thorn in the side of employees who desire litigation, has now been limited by the expansion of its prominent exception. Before considering the expansion of the FAA’s exception, it is important to understand the FAA. Scope of the Federal Arbitration Act The FAA requires enforcement of arbitration agreements […]

Archives

STAY CONNECTED Sign Up to Get Interesting News and Updates Delivered to Your Inbox