Business is often seen as an adversarial activity, one where everyone competes for a slice of the economic pie. But sometimes you don’t want to beat the competition, you want to join them. Or, at the very least, you want to acquire their assets and resources to increase your own company’s growth potential. That’s when you start looking at the possibility of a merger. Continue reading “What is a Business Merger?”
Tag: business compliance
Delaware Court Approves Shareholder Demand to See Facebook’s Books
The Delaware Chancery Court has recently approved a demand by Facebook’s shareholders to see their books and records. This demand, called a Section 220 demand, was filed as a means of examining potential wrongdoing by Facebook’s leadership during the Cambridge Analytica scandal. Cambridge Analytica (CA), a now-defunct political consulting firm, was accused of stealing the data of 50 million American Facebook users which it utilized to influence the 2016 United States Presidential Election. Continue reading “Delaware Court Approves Shareholder Demand to See Facebook’s Books”
Choosing the Right Classification of Worker for Your Business
Starting a new business or joining a currently existing business can bring a few challenges. One challenge that arises comes from the hiring process. There are multiple types of workers that can work for you. These can include Full-time Employees, Part-time Employees, Interns, and Independent Contractors. Continue reading “Choosing the Right Classification of Worker for Your Business”
What You Should Know Before Hiring an Intern
Whether or not an intern is paid is usually a deciding factor in considering hiring one. While many internships are not paid, labor laws usually allow the intern to work for college credit. However, there are restrictions to this exception. An internship must abide by specific criteria in order to be exempt from the Minimum Wage Act and Orders, which outlines New York’s laws regarding pay and overtime. In order to be exempt from this law, an intern cannot be considered an employee and an employment relationship cannot exist between the for-profit business and the intern. It can be determined that an employment relationship does not exist if the relationship meets all of the following criteria: Continue reading “What You Should Know Before Hiring an Intern”
Proposed New York City Legislation Seeks to End Requirement of After-Hours Work Communications
Do employees have the right to disconnect? Rafael Espinal, a New York City council member from Brooklyn, thinks so. On March 22, 2018, Councilman Espinal introduced a bill that would make it illegal for employers to require employees to access work-related communications when they are off duty, on vacation, using personal days, or off sick. These communications can include, but not limited to, emails, text messages, and instant messenger services. Continue reading “Proposed New York City Legislation Seeks to End Requirement of After-Hours Work Communications”
Compliance Is Key to Running a Successful Business in New York City
A New York City hospitality owner should always remain compliant with both state and city regulations, otherwise he or she will be subject to hefty fines and penalties. In New York City, bars, restaurants, and nightclubs are the most likely to be subject to noise, food, or health code violations by agencies such as the Department of Health, Department of Buildings, FDNY, NYPD, NYS Liquor Authority, or even the Federal Alcohol Tobacco and Firearms Agency (ATF). Continue reading “Compliance Is Key to Running a Successful Business in New York City”
New York Law to Protect Freelance Workers Goes Into Effect
New York City is the first city to implement a law to protect its 1.3 million freelance workers against nonpayment. The Freelance Isn’t Free Act (FIFA) mandates that employers sign a contract for freelance work that is valued at $800 or more, either for a single job or total services contracted within a 120-day period. The contracts must include the date the freelancer will receive payment; if they do not include the date of payment, businesses must compensate the freelancer within 30 days of completing the work. FIFA seeks to protect freelance workers against employer retaliation and can increase financial consequences for employers who violate the new rules. Continue reading “New York Law to Protect Freelance Workers Goes Into Effect”
President Trump’s Executive Order May Seek to Limit Dodd-Frank
On Friday, February 3, 2017, President Donald Trump issued an executive order directing the Secretary of the Treasury to consult with the heads of the member agencies of the Financial Stability Oversight Council, within 120 days, and report on which existing laws, guidance, treaties, record-keeping requirements, and other policies do not promote or inhibit the order’s Core Principles for Financial Regulation. These six generalized principles prioritize investor choice, economic growth and international competition, as well as traditional goals of financial oversight, such as analyzing and reporting risk, increasing accountability, and preventing taxpayer-funded bailouts. Although the Dodd-Frank Wall Street Reform and Consumer Protection Act was not specifically mentioned in the executive order, it is expected that the legislation will take a big hit. President Trump has been quoted as saying, “We expect to be cutting a lot of Dodd-Frank.” Continue reading “President Trump’s Executive Order May Seek to Limit Dodd-Frank”
Federal Judge Blocks Implementation of New Overtime Exemption Rule
On November 22, 2016, a federal judge in Texas issued an injunction against the Department of Labor’s new overtime exemption regulations that were scheduled to take effect on December 1, 2016. The regulations would have required employers to pay time-and-a-half to their employees who work more than 40 hours a week and earn less than the annual salary threshold of $47,476. The suit was brought on behalf of 21 states and dozens of business groups who feared the new regulations would hurt retailers and other small businesses by adding to their labor costs. Those against the new overtime exemption rule also said that it would have forced employers to convert full-time jobs to part-time jobs. Continue reading “Federal Judge Blocks Implementation of New Overtime Exemption Rule”
Making Websites More Accessible For the Disabled
Beginning last July, lawsuits began flooding the federal courthouse in Pittsburgh claiming corporations’ websites were not accessible to the blind and other individuals with disabilities, thus violating the Americans with Disabilities Act (ADA). Companies such as Foot Locker Inc and Toys R Us were some of the household names, among others, that were targeted. Continue reading “Making Websites More Accessible For the Disabled”
