Category: Business / Employment
Hiring in Philadelphia — Potential Employees and Salary History
It is now official, and, presumably, final. Philadelphia employers now may not ask prospective employees about their salary history. Specifically, an employer may not: Ask for or about a job candidate’s wage history; Require a disclosure of a job candidate’s wage history; Condition hiring on… Continue reading
Negotiating and Litigating the “Business Divorce”
Co-ownership of a business is in many ways like a marriage, and unfortunately, it can sometimes end in “divorce.” The reasons for the demise of the relationship between business owners can range from petty, ego-driven disputes to deep seated financial problems. Deadlocks or irreconcilable conflicts… Continue reading
Insult to Injury: Bankruptcy Preference Claims
If you run a business which sells goods or services on credit you may eventually receive a notice that one of your customers has filed for bankruptcy protection, owing you money for the goods or services previously supplied. (That is the insult.) The real problem… Continue reading
Exceptions to At-Will Employment
Pennsylvania, like many states, is an at-will employment state, meaning that both the employer and the employee may terminate the employment relationship for any reason and at any time without advance notice. Generally speaking, an employer does not have to have a reason to terminate… Continue reading
Contract Weasel Words
What would legal documents be without weasel words? Written contracts are full of them, and they often serve a salutary purpose. Here are a few samples: “Substantial”: This word often appears in the performance section of a contract. From a legal standpoint, contracts usually… Continue reading
Addendum or Amendment?
Sooner or later, written contracts may get modified, updated or revised due to changes in the business terms or changes in the circumstances. Rather than re-write the whole contract we sometimes draft an additional document that becomes part of the contract. Sometimes we call it… Continue reading
Contract Assignments
If a party enters into a contract, can the other party to the contract assign the contract to a third party to perform? In the absence of an express prohibition in the contract the answer is usually yes. For example, suppose you agree to sell… Continue reading
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