Archives

JO Knows Entity Formation

An “S” corporation or a “C” corporation? A limited-liability company (LLC)? A partnership or limited partnership? You probably need to use one of these types of entities for your business, but which one and how do you set it up correctly?

These are important questions and the answers aren’t the same for everyone. And once that choice is made some very important issues must be addressed:

-If there is more than one owner, what are their respective ownership, profit-sharing, and voting rights?

-How are disputes between them solved?

-What if one of them wants to quit, or bring in their spouse or child?

– Or what if they die? How is the value of their interest determined?

Again, the answers aren’t the same for everyone. Don’t make the mistake of using the same buy-sell agreements, shareholder agreement, LLC operating agreement, or partnership agreement that someone else did without making sure that all of these issues—and there are probably others—are properly considered for you own unique situation.

The work doesn’t stop there. Do you need a lease? Employment contracts or a policy manual? Licenses? Referral to an accountant for tax or payroll advice? JO can help.

JO Attorneys Included In The Best Lawyers in America for 2020

Jones Obenchain, LLP is pleased to announce that R. Kent Rowe III and J. Thomas Vetne have been selected by their peers for inclusion in the 26th Edition of The Best Lawyers in America in the fields of Medical Malpractice Law (Kent) and Insurance Law (Tom). Congratulations to Kent and Tom!

More about Best Lawyers®:

Since it was first published in 1983, Best Lawyers® has become universally regarded as the definitive guide to legal excellence. Because Best Lawyers is based on an exhaustive peer-review survey in which almost 50,000 leading attorneys cast nearly five million votes on the legal abilities of other lawyers in their practice areas, and because lawyers are not required or allowed to pay a fee to be listed, inclusion in Best Lawyers is considered a singular honor.

September 11th – Patriot Day

On September 11 we remember the terrorist attacks of September 11, 2001. Many refer to this day as 9/11, when 2,977 people died in the attacks. President George W. Bush proclaimed September 11th Patriot Day in 2002. While many observe this day in their own way, some suggestions include flying US Flags at half-mast (at home and abroad), and observing a moment of silence at 8:46 a.m. (EST), the time the first plane struck the North Tower of the World Trade Center that grim day.

National Read A Book Day

National Read A Book Day is observed annually on September 6th. National Read a Book Day invites us to grab a book and spend the day reading. Reading is not only fun, but it has many benefits including improving memory and concentration and reducing stress. Reading is also inexpensive entertainment. Older adults who spend time reading tend to participate in more mentally stimulating activities over their lifetime. And it’s never too late to get in the habit. So grab a book and get at it.

Happy Labor Day Weekend!

We traditionally think of Labor Day as a celebration of the end of summer, but there is more to the story. Labor Day, the first Monday in September, is a creation of the labor movement and is dedicated to the social and economic achievements of American workers. It constitutes a yearly national tribute to the contributions workers have made to the strength, prosperity, and well-being of our country and now you know the rest of the story. Have a safe and happy labor day weekend!

JO Knows Creditor’s Rights

Someone who owes you money filed bankruptcy. Now what?

• Can you still try to collect the debt?

• Should you file a claim?

• Can you foreclose or collect your collateral?

• What if the debtor defrauded you?

• How do you collect from a company in a Chapter 11?

• Should you do business with a company in bankruptcy?

• Can you get your product back?

• Should you join the creditor’s committee? And what does it do anyway?

You have questions. Our creditors’ rights attorneys have answers.

JO in Action

Jones Obenchain partner, Jackie Homann recently attended the 67th Convention of The Lutheran Church, Missouri Synod, in Tampa, Florida. Jackie was honored to serve as a delegate representing her own congregation as well as well as others from Circuit 10 for Indiana.  She was grateful for the opportunity to help consider important issues, give good counsel, learn, and grow.

JO Knows Non-Compete Agreements

 

A non-compete agreement is a legal contract between an employer and employee or between the joint owners of a business. It restricts a person’s ability to do harm to that business by taking away customers, other employees, confidential information, or new profit opportunities, not only after they leave but while they’re still employed.

Courts will enforce non-competes, but only if they are properly written. They must be “reasonable” and not “over-broad” as the law defines those concepts. They cannot extend beyond the limits of the employers “protectable interests” —geographically and competitively—and must have proper time limits. Different employees at the same company might need different contracts.

One size obviously does not fit all. Jones Obenchain regularly advises local, regional, and national employers on a wide variety of employment matters, including non-compete agreements, their formation, and their scope.

 Our experience in the field includes:

-Drafting employment and compensation agreements and employment policies;

-Prosecuting and defending non-compete, non-solicitation, non-disparagement, and trade-secrets claims;

-Drafting, negotiating, and implementing employment agreements, confidentiality agreements, and non-competition agreements; and

-Reviewing and updating personnel handbooks and policy manuals.

Recent Life Changing Event?

Life changing events affect your tax status. Have you recently:gotten married, divorced, added a new family member via birth or adoption, or lost your spouse? If so, all of these events can, and often do, have an effect on your tax status. The IRS has a recent Tax Tip that can assist you to determine or verify your tax status as well as other helpful hints regarding filing requirements, deductions, eligibility for credits and much more. Visit: https://www.irs.gov/newsroom/tax-planning-includes-determining-filing-status to learn more.