The primary benefit of using a corporate entity to conduct business is the limited liability protection afforded to its owners. Corporations, limited liability companies, and other such entities are recognized as legally distinct and separate from their owner(s). As a result, the owner’s personal assets are shielded from any liability for the entity’s debts. This principle applies equally whether in the context of a parent company using a subsidiary entity for a particular venture or in the case of an individual using an entity to operate a new business.
The governor’s office and the New Jersey Economic Development Authority (EDA) recently announced the initial group of collaborative workspaces that have been approved to participate in the NJ Ignite program.
In this installment of the Corporate Department Blog, Adam Chelminiak and Mariel Giletto discuss the two different types of purchase price adjustments and strategies to minimize future disputes.
Our corporate attorneys, Adam Chelminiak and Mariel Giletto discuss the recent online sales tax ruling and how it can affect businesses.
Our attorneys share an update on the Qualified Opportunity Zone program which was recently announced.
Jeff Winitsky, Mariel Giletto and Adam Chelminiak of our public finance and corporate departments explain the Qualified Opportunity Zone program born from the Tax Cuts and Jobs Act.
This week's Corporate blog discusses how post-employment restrictive covenants are enforced and how a new bill before the New Jersey Labor Senate Committee could affect business owners.
The Supreme Court struck down on Monday a federal law, the Professional and Amateur Sports Protection Act of 1992 (“PAPSA”), which made it unlawful for most states to “sponsor, operate, advertise, promote, or authorize” commercial sports betting. The case, Murphy v. National Collegiate Athletic Association, No. 16-476, was the product of efforts to legalize sports betting in New Jersey. Today’s decision to overturn PAPSA, however, clears the way not only for New Jersey but for states around the country to authorize sports betting.
Confidentiality or Nondisclosure Agreements (“NDA’s”) have captured public attention due to current events. From stories involving Harvey Weinstein’s use of NDA’s to conceal his decades-long pattern of sexual assault, to USA Gymnastics’ use of NDA’s to quietly settle matters regarding abuse at the hands of team doctor Larry Nassar, NDA’s have been a central feature in recent national headlines. And while much of the public conversation in the #MeToo era has focused on criticizing the use of NDA’s to silence victims of assault and harassment, there are plenty of legitimate (and non-nefarious) reasons to use NDA’s. The reality is that, for many businesses, they are an essential part of participating in the modern economy.
Corporate attorney, Adam Chelminiak discusses the importance of indemnification provisions in commercial contracts.