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Showing 31 posts tagged Closely Held Businesses.
Should these non-compete agreements be enforced?
In our last couple posts, we’ve been speaking about non-compete agreements and the way they are evaluated by courts in the state of Kentucky. Given all that we have discussed, it is interesting to look at the way a massive online retail company handles its own non-compete agreements with low-wage earning employees. More >
What factors bear upon the enforceability of noncompete agreements? P.2
In our last post, we began speaking about some of the factors that are taken into consideration when determining the enforceability of non-compete agreements. We've already mentioned that the fundamental consideration is whether the agreement is reasonable and that there are a handful of factors judges look at when determining the reasonableness of a non-compete agreement. More >
What factors bear upon the enforceability of non-compete agreements?
For businesses, non-compete agreements can be an important way to protect their interests in work product, resources and other knowledge to which employees become privy in the course of their employment. Non-compete agreements, though, are only effective when they are properly drafted, and it is important for businesses to have a strong grasp of the requirements for a valid agreement and to make sure they implement processes to ensure the validity of any agreements they negotiate with employees or prospective employees. More >
Letters of intent in construction project negotiations
Anyone who works in the construction industry knows how important it is for everybody to have the same understanding about the terms of a project, including the materials needed, deadlines to be met, and the procedure for resolving disputes. Without a reasonable degree of certainty about these things, there is always the risk that something will go wrong and that money will be lost. More >
Letters of intent in construction project negotiations, P.2
In our last post, we began speaking about letters of intent and their use in negotiating the terms of construction projects. As we noted, letters of intent are not contracts, but courts do sometimes enforce them as binding, depending on what the parties intended by the document. In cases where it is evident that both parties intended to be bound, they may be enforced by a court. In cases where parties did not intend to be bound, they may not be enforced. It depends on the circumstances, though. More >
Work with attorney to maintain ownership of business
In a recent Forbes article, contributor Steve Parrish wrote about an interesting issue that most closely-held businesses, often family-owned, face in some way or another: how to maintain control over a business. The problem is not a small one, because failure to properly plan can create a situation where ownership of the business falls into the hands of individuals who aren't right for the job. More >
Public invited to offer comments on exactly what constitutes closely held corporation
Readers may remember that the Supreme Court decided a case back in June that closely held corporations were exempt from providing contraceptive coverage to their employees under the Affordable Care Act. As commentators have pointed out, the decision left undecided exactly what closely held corporations are. More >
Small businesses in Kentucky require additional guidance
There is often a great deal of fluctuation when it comes to the flourishing of small businesses. Though Kentucky has been pushing for small businesses in our state, announcements for new businesses has been lower in 2014 than it was at the same time in 2013. More >
Resolving disagreements in a closely held business
Those managing closely held businesses are as prone to disagreements with each other as are those managing any other kind of business. However, a closely held business does present a unique series of challenges in that resolution of those disagreements can be difficult to resolve. More >
Capital gains tax treatment for a closely held business
When it comes to closely held businesses, taxation can also be a challenging issue. This turned out to be especially the case where differences of opinion rose concerning valuations of a built-in capital gains tax discount. This occurred upon the death of one of the family members who owned 23.44 percent of the business. Without any discounts, the value of her share would have been placed at $12.2 million. More >
