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McBrayer Blogs

Showing 38 posts in Closely Held Businesses.

Address businesses liabilities with sound compliance, experienced litigation counsel

Posted In Closely Held Businesses

One of the points we mention fairly frequently on this blog is that proactive regulatory compliance is critical for businesses. One reason for this is that the costs for failing to comply with federal laws and regulations can be significant. More >

Businesses receive greater clarity on obligations under federal law

Posted In Closely Held Businesses

For businesses, navigating compliance with federal and state law is not always an easy task. Aside from the sheer amount of regulation, there is also the fact that the law is not always clear about what a business’s obligations really are. More >

Seeking guidance in fiduciary duty compliance? Work with experienced attorney

Posted In Closely Held Businesses

In our last post, we spoke about the importance of businesses being aware of their fiduciary responsibilities and establishing solid compliance policies to ensure they are meeting their legal obligations. One area where this is particularly important for companies sponsoring retirement plans under ERISA, the Employee Retirement Income Security Act of 1974. Because these plans constitute an important source of support for many Americans after they leave full-time work, companies who sponsor these plans have a large responsibility. More >

Breach of fiduciary duties can be costly

Posted In Closely Held Businesses

The term fiduciary is an important one in the business world, and refers to relationships in which trust is place in one party to manage and protect the assets of another. The relationship entails what is commonly referred to as fiduciary duties, which include the obligation to manage assets for the benefit of the individual or entity who entrusts the assets. More >

Charging Orders on LLCs in Kentucky

Posted In Closely Held Businesses

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

Posted In Closely Held Businesses

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 >

What are the basics of the patent process? P.1

Posted In Closely Held Businesses

In recent posts, we’ve been speaking about intellectual property rights, including trademark disputes. Here, we want to speak briefly about some of the basics of the patent application process and how an attorney can help businesses to navigate that process. More >

What factors do courts consider in trademark disputes?

Posted In Closely Held Businesses

In our last post, we wrote about a trademark infringement case out in California involving a small business owner who is up against a large corporation in protecting a marketing slogan she trademarked. In such David vs. Goliath cases, it is important to work with an experienced attorney to protect one's business interests. More >

Small businesses need help protecting intellectual property rights

Posted In Closely Held Businesses

Potential trademark infringement and other issues regarding intellectual property rights are part and parcel of developing and marketing new products in a competitive market. In protecting their own intellectual property, businesses need to be proactive on the front end and determined to protect their intellectual property rights when they are infringed. More >

Member Rights in Kentucky Limited Liability Companies

Posted In Closely Held Businesses

All members of Kentucky Limited Liability Companies, whether they hold a majority or minority membership interest, have rights under Kentucky statutory and common law, but these rights may be modified, curtailed or extended to a nearly unlimited extent by the provisions of the operating agreement. In this post, we will briefly discuss various rights afforded to members of Kentucky LLCs, which are less statutorily-defined than other corporate rights under state law. More >

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