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
Business |
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...
ATTENTION SNOWBIRDS: DO YOU PASS THE DOMICILE TEST?
“A person doesn't know how much he has to be thankful for until he has to pay taxes on it.” This anonymous quote is timely. It is rumored that the Rhode Island Division of Taxation (“the Division”) is reviewing its procedures for determining whether a Rhode Islander...
HOW CLOSELY HELD BUSINESSES CAN PREVENT MANAGEMENT DEADLOCKS
Differences in opinion on how to achieve a stated goal in a closely held business can lead to disputes that block the enterprise from moving forward. Closely held businesses are characterized by a limited number of shareholders and a lack of public trading. The...
WHY ESTATE PLANNING FOR BUSINESSES IS CRITICAL (NOT OPTIONAL)
Owning your own business can be extremely demanding. From your customers to your employees, there’s hardly enough time in the day. While most entrepreneurs are consumed by the day-to-day challenges of running their businesses, they often neglect the critical task of...
PAY EQUITY IN RHODE ISLAND: EMPLOYERS, ARE YOU IN COMPLIANCE?
Rhode Island’s Pay Equity Act was expanded in 2023, creating additional obligations for employers with employees located in, or working from, the state. Once only prohibiting differences in wages based on gender, Rhode Island’s Pay Equity Act prohibits differences in...
ESTATE PLANNING FOR THE BUSINESS. HOW TO PREPARE FOR THE DEATH OF A BUSINESS OWNER
In the final season of “Succession,” Logan Roy’s death creates a power vacuum within Waystar Royco, the fictional media conglomerate that Logan founded and acted as CEO of until his death. This raises a difficult question that many, if not all, business owners face:...