Versions of qualified plans, sometimes referred to as "Rollovers as Business Startups" or simply "ROBS," are marketed with increasing frequency to would-be business owners as a way to access tax-deferred retirement funds without paying distribution taxes, in order to...
PLDO Law Blog
Month: July 2016
Protect Your Customers’ Safety – It’s the Law
In a recent decision by the Rhode Island Superior Court, a judge determined that a wrongful death action brought on behalf of a bank customer, who was robbed and murdered in the bank's parking lot, could proceed to trial. The family of the murdered victim argued the...
New RI Non-Compete Law for Physicians Aims to Serve the Public
Non-competition and non-solicitation agreements are often legitimate tools to protect employers from spending time, money and effort training their employees, only to have those employees leave and open up a competing business across the street. Typically, such...
Feds Crack Down on “Payday” Lenders
Consumer rights advocates are praising a government move to crack down on so-called "predatory lenders" that charge triple-digit interest rates for "payday" loans. Providers of payday loans target individuals who cannot qualify for a traditional loan. It has been...
EXECUTING A CAREFULLY DRAFTED CONFIDENTIALITY AGREEMENT IN AN M&A TRANSACTION
The execution of a confidentiality agreement - or what is also referred to as non-disclosure agreement (NDA) - is typically the first official stage of any merger or acquisition. Prior to this stage, a general discussion may have already occurred, and relevant...
THE IMPORTANCE OF CONDITIONS PRECEDENT IN LICENSING, PERMITTING AND PURCHASE AGREEMENTS
A condition precedent is a condition in a contract that must occur before another party is required to perform. In purchase and sale agreements, there are often several conditions precedent that must be satisfied before a party is required to close. Particularly, in...
REMOTE WORKERS IN RHODE ISLAND: STATE REGS MAY CREATE PERSONAL JURISDICTION IN RHODE ISLAND COURTS
The United States District Court for the District of Rhode Island recently held that it had personal jurisdiction over an out-of-state employer, despite the fact that the employer only had one remote employee who worked in Rhode Island. That employee—who was also the...
THE BENEFIT OF PASS-THROUGH ENTITIES
Why do pass-through entities such as LLCs taxed as partnerships remain the entity of choice for most closely held businesses? The primary benefit of operating a business through a pass-through entity, such as an LLC taxed as a partnership, is that the income generated...
APPLE’S CONCERNING NEW TEXT MESSAGE FEATURE
Apple recently released iOS16 for the iPhone. This newest release allows iPhone users running iOS16 to edit and unsend text messages sent between other iOS16 users. While this may be welcome news for those of us who make embarrassing typos or otherwise hit the send...
