Category: Business / Employment

Buy/Sell Agreements in Closely Held Businesses

Buy/Sell Agreements are agreements between owners of a business that determine how and when owners may sell or be bought out of a business entity. In the case of partnership or a limited liability company, buy/sell provisions are typically embedded into, respectively, the partnership agreement… Continue reading

Buying or Selling a Business

With the stronger economy we are seeing an uptick in the sale and purchase of small and medium sized businesses. Banks are lending once again, interest rates remain reasonable, and potential buyers are more optimistic about the future of the economy. In the aftermath of… Continue reading

Year End Tax Planning for Small Business

If you own a small business, you still have some time to make some tax planning moves before the end of 2018. Recent tax changes potentially allow greater depreciation deductions for property purchased and placed in service before the end of the year. In addition,… Continue reading

Pennsylvania General Assembly Takes a Hard Look at Non-Competes

Generally, Pennsylvania Courts will respect a non-compete covenant between an employer and an employee if: (1) it is incidental to a contract for employment, (2) it is supported by adequate consideration and (3) the scope of the covenant must be reasonably limited in time and… Continue reading

Protecting A Business Entity’s Limited Liability

The most common and compelling reason to form a corporation to operate a business is to provide limited liability. If done properly, the debts and the liabilities of the business attach only to the business and the business’s assets. With certain exceptions (such as wage… Continue reading

Steps to Insure Against Vendor/Supplier Failures

For a small business, vendor defaults and failures can be as serious as customer defaults and failures. As in managing customer relations, there are also a number of steps that can be taken to prevent your vendors’ financial problems (or indifference) from becoming your problem.… Continue reading

Acquiring Equipment – The Options

How to furnish your business with the necessary equipment can be a difficult decision. From a legal and financial perspective, the basic question is how to acquire the equipment. There are three basic options – buying it, leasing it, or leasing it under a so-called… Continue reading

Derivative Actions – II

In last February’s issue of the Newsletter we touched on the right of a shareholder of a corporation to bring a lawsuit on behalf of the corporation against a third party, when the corporation refused to do so. These so-called derivative lawsuits are most often… Continue reading

PA Wage Payment and Collection Law

The Pennsylvania Wage Payment and Collection Law (“WPCL”) provides a statutory cause of action for employees against employers and responsible individuals; it allows an employee to sue for unpaid wages and recover additional damages of 25% of the unpaid amount and counsel fees. The WPCL… Continue reading

Shareholder Derivative Suit

If a shareholder of a corporation observes that a third party has caused harm to the corporation and if the corporation will not act to address that harm, then a shareholder may have some rights to act on behalf of the corporation. The vehicle to… Continue reading