Massachusetts and Rhode Island are among those states that have enacted a Wage Act, under which employees who receive less than their full compensation due can sue for treble damages. In fact, in Massachusetts, a Wage Act violation leads to mandatory treble damages....
PLDO Law Blog
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Why LLC Operating Agreements Protect You and Your Business
Forming a limited liability company, or “LLC,” does not require an attorney. Articles of organization are filed with the Secretary of State and the LLC is then created; no attorney necessary. However, while registration with the Secretary of State is all that is...
Comparing Start-Up Valuation Methods
In our Business Law practice, we routinely deal with entrepreneurs and investors who are trying to structure an investment opportunity on the basis of the company’s value before the outside investment is closed. This challenge exists whether the investment will be...
Due Diligence Considerations for Entrepreneurs and Investors
Representing clients seeking to invest in a venture or finance a new business opportunity is a challenging experience for the lawyer as it routinely involves outlining the steps and various issues that are involved in the process of either type of transaction. The...
NON-COMPETE AGREEMENTS IN RHODE ISLAND REMAIN ENFORCEABLE (FOR NOW)
On June 26, 2024, Governor Dan McKee vetoed two bills (S2436 A and H8059 A) that were passed by the General Assembly in the late hours of its final day of the 2024 session. The bills were amendments to the Rhode Island Noncompetition Agreement Act that, if signed into...
ONE RISK YOU SHOULDN’T TAKE IS NOT HAVING THE RIGHT LIFE INSURANCE
If you never return from your sailing trip around the globe or reemerge from the deep ocean depths on the submarine destined for the Titanic, will your family receive the death benefit proceeds from your life insurance policy? That answer, as well as the answer to...
HOW TO BUY ULTRA-DANGEROUS ASSETS
It’s never a good idea to buy an asset, like a boat or plane, in your own name or to have multiple parties on the title. First of all, when your name is on the title, you are personally liable for any damage that the asset may cause. For example, you and Joe own a...
SO, YOU WANT TO WRESTLE AN ALLIGATOR?
Before base jumping into the miasma of risk, the first thing you should do is make sure your estate plan, in its current iteration, meets your needs and has adapted to any challenging or changing family situation. A well-rounded estate plan is literally more of a life...
HOW LIFE INSURANCE PROCEEDS COULD AFFECT A COMPANY’S VALUATION FOR ESTATE TAX PURPOSES
A recent case brought to light the impact that a stock-purchase agreement and life insurance proceeds may – or may not - have on the valuation of a closely held company for estate tax purposes. In this case that caused a split between the 8th and 11th Circuits, the...