PLDO Law Blog
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...
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...
WHAT’S IN A NAME?
Nonprofit organizations sometimes find that changing missions or a desire for a more updated image fosters consideration of a change in the entity’s name. There are two options if you wish to alter your nonprofit’s name. The nonprofit can legally change its name by...
PERSPECTIVE INTO SOUTH FLORIDA’S BUSINESS & COMMERCIAL REAL ESTATE
If one were to look around South Florida during the past year or so, you might notice that many finance and high-tech companies have relocated to the area from places such as New York and California. Some examples of this migration include the following: Candex, a...
