Business succession planning should be part of the overall business development strategy of any enterprise. Leaving it until it is too late may have negative consequences to the future of the business. Important considerations and options for successfully transferring...
PLDO Law Blog
Business
Sale of MA Cannabis Cultivator-Dispensary to National Firm is Worth Watching as Industry Consolidation Ensues
Cannabis industry watchers can expect that the tale of New England Treatment Access (NETA) - one of Massachusetts’ first registered marijuana dispensaries and a predominant player in the Commonwealth’s burgeoning recreational marketplace – leading to its sale to a...
RI Governor Announces Recreational Marijuana Legislation Forthcoming
Feeling the pressure from other New England states that have already implemented recreational marijuana programs or have signaled they will do so shortly, Rhode Island Governor Gina Raimondo announced that her administration will be introducing legislation this...
Responsibility for Corporate Misbehavior Shifts Under Trump Administration
This past September at the 5th Annual Global Investigations Review Conference (“GIR”), Deputy Assistant Attorney General Matthew S. Miner discussed recent changes in the Department of Justice (“DOJ”) policy regarding the prosecution of business organizations. The new...
THE TREES CAN STAY (FOR NOW) – A LESSON ON WRIT OF MANDAMUS
In a recently published opinion, the Rhode Island Supreme Court addressed when it is and is not appropriate for the court to grant the issuance of a writ of mandamus. A writ of mandamus is used to compel the performance of an act by a public officer. In the case...
DIRECTED TRUSTS PROVIDE FLEXIBILITY FOR THE CLOSELY-HELD BUSINESS OWNER
In July 2021, Florida adopted the new Florida Uniform Directed Trust Act (“FUDTA”). Modern directed trusts are one of the best vehicles to provide intergenerational wealth preservation and flexibility. Historically, all the functions of a trustee have been handled by...
NUTS & BOLTS OF A ROLL-UP STRATEGY IN BUSINESS ACQUISITIONS
In a roll-up strategy, the buyer—usually a private equity fund—identifies a highly fragmented industry, which is a situation where multiple companies compete, and there is no single or small group of companies that dominates that specific industry. Subsequently, the...
THE SAFE BANKING ACT: WILL 2022 OPEN THE DOOR FOR CANNABIS BUSINESSES TO ACCESS COMMERCIAL BANKING?
Lawful cannabis businesses in the United States have historically and predominately relied on private funding to establish and prop up their operations until they can sustain themselves as revenue-driven enterprises. This is because cannabis remains illegal under...
WITHHOLDING THAT EMPLOYEE BONUS CAN BE COSTLY
The law regarding an employer’s obligation to pay contractual bonus amounts received significant clarification in a recent Rhode Island case. Why this is important is that Wage Act violations are subject to mandatory double damages plus attorneys’ fees, and can even...