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McBrayer Blogs

Showing 7 posts from June 2015.

Shareholders approve Office Depot acquisition, but will FTC?

Whenever a merger of major corporations is proposed, a lot has to happen before the vision becomes reality. Not only must the businesses engage in talks both internally and with one another about the possibility of a merger or acquisition, shareholders need to be convinced to get on board, as well as the Federal Trade Commission and, to an extent, the public. All of these factors can impact the success of a merger or acquisition. More >

Trustee Discretion and Liability of an Individual

It's an understatement to say that the role of the trustee is fraught with pitfalls. Often times, a settlor creates a trust to suit his or her needs, but rarely does the settlor take into consideration, the difficulties the trustee will face when administering the trust. The discretion given to the trustee can provide a gateway for added liability, and the creation of a trust should take the twin concerns of trustee discretion and trustee liability into as much consideration as the disposition of the trust assets. More >

Changes Ahead for Kentucky's Nonprofits and Other Business Entities

Gov. Beshear signed House Bill 440 into law on April 1st, with the provisions of the new law becoming effective on June 24th. This new law adopts provisions modeled on the Revised Uniform Unincorporated Nonprofit Associations Act and makes several changes to Kentucky's business entities laws, particularly in the area of nonprofit companies. Overall, the law should strengthen opportunities for non-profits association and businesses to operate in the Commonwealth, and this post will briefly discuss some of the highlights. More >

Addressing tax liabilities in a business sale an important task

When a business owner is working on selling his or her business, there is a lot of planning that goes into the process. One important aspect of selling a business is to work out a tax strategy. In any business sale, potential buyers are going to want to know about  the tax liabilities the company is carrying before they purchase the business. More >

Succession planning best when engaged early and reviewed regularly

Most business owners, if you ask them, probably have a basic idea of what succession planning is all about: deciding how ownership interests will be passed when they or their partners or co-owners leave the company. The problem for many business owners is taking the initiative to get an appropriate succession plan in place. Once the inertia to doing so is overcome, though, getting an effective plan in place doesn’t have to be that hard.   More >

Charging Orders on LLCs in Kentucky

The organization of any business as a limited liability company ("LLC") brings with it attendant protections for the members from the liabilities that arise in the course of the business as well as beneficial tax treatment. This protection is not a two-way street, however: the member's financial interest in the LLC does not receive complete protection from the member's personal liabilities. Judgment creditors of LLC members have at their disposal a unique remedy to collect distributions and more from the judgment debtor's membership or partnership interests; that remedy is the charging order. More >

What are the basics of the patent process? P.2

In our previous post, we began speaking about the initial steps an entrepreneur would take in the patent process. We’ve already spoken about identifying the type of protection needed and conducting a patent search to determine whether the patent is available.  More >

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