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Airline Mergers Spark Discussions Across the Industry
Business owners in Kentucky know that it is very challenging to balance the needs of a business with the resources available. In some cases, one of these significantly outweighs the other and it is appropriate to pursue options that would legally join two companies, and their respective resources, together. More >
The Importance of a Registered Agent for Your Business
Many business owners who are just starting out often overlook the fact that they need to appoint a registered agent. All corporations, nonprofits, limited liability companies, limited partnerships, limited liability partnerships and limited liability limited partnerships must continually maintain a Kentucky registered agent. A registered agent is simply the agent for service of process, notice, or demand required or permitted by law to be served on the business entity. Registered agents routinely receive important mail from the state, like annual reports or statements and tax documents. Service of process is the document which initiates a lawsuit against your company and starts the tolling of the statute of limitations. More >
For $340 Million, Globecomm Allows Wasserstein to Take it Private
Wasserstein & Co., the private equity firm founded by the late Bruce Wasserstein who also bought New York magazine in 2003, has made a deal to acquire satellite communications giant Globecomm Systems Inc. and take the firm private sometime in the fourth quarter of this year. Wasserstein & Co. was founded in 2001 and is known for making substantial merger and acquisition deals, including one worth $3 billion. More >
Is My Business Required to Use E-Verify?
Federal law prohibits employers in the United States from employing individuals who may not legally work in the U.S. Electronic employment verification, or E-Verify, is the system Congress established to allow U.S. employers to determine whether a prospective employee may legally work in the U.S. E-Verify supplements the I-9 process; an employer cannot initiate an E-Verify query for a new hire until after the I-9 process is complete. The internet-based system allows businesses to determine whether their work force is legal. Despite the system being free and relatively easy to use, many business owners still want to know if they are legally obligated to use it. More >
Could Your Business Qualify for a 179D Green Building Tax Break?
If your company has built a new facility or upgraded an existing one anytime in the past six years, you might find that you qualify -- at least partially -- for a tax break of up to $1.80 per square foot under federal tax code section 179D, or the energy efficient commercial buildings deduction. This could be the case even if you had no concrete intention to focus on green building standards at the time. More >
BlackBerry Ltd. Exploring a Sale, Joint Venture or Going Private
After stories by Reuters and Bloomberg last week sent rumors swirling about the company’s future, this week BlackBerry Ltd. (formerly Research in Motion) clarified an announcement made last year that the company is considering a variety of “strategic alternatives.” Those alternatives reportedly include a potential sale of the business or its assets, the organization of an unspecified joint venture, or the possibility of repurchasing its stock in an effort to take the company private. The difference between last week’s rumor and this week’s announcement is that BlackBerry has now appointed a special committee of its board of directors to oversee the implementation of whichever alternative is chosen. More >
Employee Non-Compete Agreements in Mergers and Acquisitions
Businesses routinely execute non-compete agreements with their employees in order to protect legitimate business interests. These agreements are not just an important interplay in the employer/employee context, but also factor into many other business deals, such as partnership, franchise, or consulting agreements. Recently, the effect of a merger on a non-compete agreement has become a hot topic. More >
Acquisitive Air Products May Face Hostile Acquisition of its Own
Air Products and Chemicals, Inc., which sells gases and chemicals for industrial uses, has a reputation for attempting hostile acquisitions of other companies, most recently, Pennsylvania-based Airgas, Inc. Now it appears that Air Products could itself be facing an unwelcome takeover bid -- from Pershing Square Capital Management, which has already acquired a 9.8-percent stake in the company. More >
The Sooner, the Better: Not Always True with Trusts
It is a story that estate planning lawyers are all too familiar with: a well-intentioned parent or relative establishes a trust for a child, the child reaches age eighteen - the age of distribution specified by the trust, and bam! The trust funds are gone in a flash; an inheritance spent on cars, clothes, or fancy vacations - not at all what the grantor of the trust had in mind for the beneficiary. More >
Did You Notify the IRS When Your Business Moved?
If your business or corporation has changed addresses in the past few years, are you certain the IRS was notified about your new address? If you’re not certain, you should check, or you could find yourself in an awkward situation if you’re ever involved in an IRS tax controversy. As a recent ruling by the U.S. Tax Court underscores, you could lose your right to challenge a federal tax lien if you missed the notification when it was misaddressed. More >
