When a business is sold, there is often an allocation of a portion of the purchase price to a covenant not to compete. While this allocation may be appropriate in the sale of a business, frequently the allocation is artificial and is a behind-closed-doors deal between buyers and sellers, driven entirely by tax considerations. Such allocations may have unwanted and unintended consequences for a divorcing party.
Premarital agreements, commonly referred to as "pre-nups," are usually associated with celebrity marriages. Indeed, you'll likely hear someone ask after a high-profile marriage ends, "I wonder what their pre-nup says?" While most of us would like to learn the juicy details, it's important to remember that a prenuptial agreement does more than list who gets what.
Recent rulings of interest to you and your practice.
National rulings of interest to you and your practice.
The National Labor Relations Board (NLRB) recently held by a 3-2 vote that employees who work in a nonunionized work force do not have the right to have a co-worker present at an investigatory interview with their employer, even if the affected employee reasonably believes that the interview might result in discipline.
Recent rulings you need to know.
The defense of employment-related lawsuits is a significant expense for employers that, many times, cannot be avoided. At the same time, it is an expense that offers little return on investment for the employer. Despite the efforts of at least some courts to try to resolve these cases through early mediation or to move them faster through the system, claims of employment discrimination and other alleged wrongdoing in the workplace, often languish far too long.
Suppose that you represent an employer that does not hire foreign nationals and is in an industry that does not lend itself to foreign workers. Does your client nevertheless have responsibilities under the Immigration Reform and Control Act of 1986 (IRCA)? The answer -- surprising to too many employers and attorneys -- is yes. The IRCA prohibits unfair immigration-related employment practices and makes all U.S. employers responsible for verifying the "employment eligibility" and "identity" of all employees hired to work in the United States after Nov. 6, 1986.
Gone are the days of the Internet chat rooms for disgruntled associates. Gone are the multitude of public surveys where law firms learned, only after survey publication, how poorly associates rated their firms in terms of professional satisfaction.
These days, associates are less vocal about their dissatisfaction with their firms and the opportunities afforded them for professional development. Nonetheless, associates are still on the move, and firms continue to struggle to find effective ways to retain them.
Firms have made significant investments in improving their associate programs, including hiring Professional Development Administrators. Now, rather than ignoring issues related to professional development and satisfaction, firms are evaluating all aspects of their associate programs. They no longer want to leave the surveying to someone else.
There is an industry-wide epidemic amongst mutual funds of both insider trading and market timing to the diminution of the ordinary stakeholder, including defined contribution plan account balances. Late trading is the clearly illegal practice of placing orders after the day's close at 4 p.m., and market timing is the disruptive (but not necessarily illegal) practice of trading quickly in-and-out of a fund.
This article is intended to assist plan fiduciaries (eg, law firms sponsors of pension plans and law firm clients) regarding how to behave in a fiduciarily appropriate manner.
