Procrastinators won… at least this time! Less than two weeks before the new Department of Labor’s (DOL) overtime rule was scheduled to go into effect, a Federal judge from Texas granted an emergency injunction putting the new overtime rule on hold indefinitely. The new overtime rule, impacting millions of workers nationwide, was set to [...]
They said what??? If you’ve ever managed employees before, there’s no doubt you’ve wanted to scream this question out at least a few times. Inappropriate workplace conversations can be a tricky topic to handle. When people spend many hours at work together day after day, it’s almost a certainty that there will be inappropriate [...]
On October 5, 2016, Cook County, Illinois joined the growing list of jurisdictions across the country to pass a paid sick leave ordinance, following what’s becoming a popular trend across the country, not only in the Midwest, but nationwide. Previously, the city of Chicago, located in Cook County, also passed a similar ordinance in [...]
Business owners often want their employment contracts to contain the most restrictive covenants. Yet, overzealous restrictive covenants may backfire if deemed overly restrictive, unreasonable, and going further than necessary to protect the “legitimate business interests,” which is an elusive concept. A restrictive covenant is a type of contractual arrangement. It is a clause in an [...]
Businesses usually start with best intentions and under the best of circumstances. However, down the road many life events and business challenges occur that change business owners, their relationships, and goals. It’s essential, therefore, for most new businesses to begin with a discussion of a buy-sell agreement. A typical buy-sell agreement functions in the same [...]
The past few years have seen an increase in small to middle-sized business sales. The economic forecast suggests that this trend will continue. If you are considering a business sale, it’s vital to understand the selling process and prepare your business for the contemplated sale well before you try to put your business on the [...]
Everyday companies form and business partners come together with the best of intentions and hopes. Often things begin smoothly but trouble rears its ugly head down the road. If you have formed a company and have a business partner, it’s devastating to find your trusted partner stealing from you. If you find yourself in this [...]
The global business market has seen an increase in M&A deals in recent years. According to the Mergers and Acquisitions Condition Index, in July 2016 middle market business sale and business acquisition deals increased for the second consecutive month. Another noted trend is a decrease in deal closures - often the result of lack [...]
We’ve all been there. Whether you’re a business owner or a manager of a business, firing an employee can be tough. Follow the following six tips to make it easier for everyone to break-up the relationship and reduce the risk of wrongful termination or unfair treatment claims. Tip 1: Before firing an employee Give them [...]
Today’s job market is less than ideal. While the pool of job candidates is large, companies struggle to find manpower to fit their budgets. The solution for many companies is internship programs. Internships are becoming a standard graduation requirement at many colleges and universities with benefits to both employer and student. According to Brian Burnsed, [...]
