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
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.
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.
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!
about Best Lawyers®:
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.
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 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.
Horvath is a partner at JO. Her goal is to help clients solve their legal
challenges promptly and effectively. Janet practices in various areas including
business and probate. Please visit: http://jonesobenchain.com/team-member/janet-g-horvath/
to learn more about Janet and how she can serve your business and your family.
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!
Someone who owes you money filed bankruptcy. Now what?
• Can you still try to collect the debt?
• Should you file a
• 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
• Should you join
the creditor’s committee? And what does it do anyway?
You have questions.
Our creditors’ rights attorneys have answers.
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,
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:
employment and compensation agreements and employment policies;
defending non-compete, non-solicitation, non-disparagement, and trade-secrets
negotiating, and implementing employment agreements, confidentiality
agreements, and non-competition agreements; and
updating personnel handbooks and policy manuals.
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.