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FTC’s New Rule Banning Noncompetes


Businesses based in California have been barred, in most cases, from enforcing noncompete clauses against former employees for over 150 years. But most other states still allow employee noncompete clauses. Last week, however, the Federal Trade Commission (FTC) announced a new rule that would ban most noncompete clauses nationwide. The rule is not in effect as of the date of this post. It would go into effect 120 days after the rule is published in the Federal Register. However, the rule has already been subject to legal challenges, so it’s possible courts may delay the rule’s implementation and either strike…

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Letters of Intent (LOIs): What Buyers and Sellers Need to Know


Whether you’re looking to sell your business or acquire a new one, the letter of intent (LOI) is a critical early step in the transaction process. This non-binding document lays the groundwork for the deal, outlining the key terms and conditions that both parties agree to before proceeding to more intensive due diligence and negotiations. From the purchase price and financing structure to contingencies and exclusivity periods, the LOI serves as a roadmap for the final purchase agreement. It’s an essential tool for ensuring both the buyer and seller are aligned on the essential elements of the transaction. Some key…

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New Trademark Scams


I was recently alerted to new scams that are plaguing U.S. trademark applicants. I wrote about trademark scams way back in 2012 (here) and 2016 (here). Unfortunately the problem hasn’t gone away. Here are two recent issues I’ve heard of: 1. Email Scam. After a trademark application is filed, the applicant (meaning, the person or company who owns the trademark, not the filing attorney) is contacted in writing stating that the trademark application was incomplete, and that a conflicting application has been filed by someone else. The scam email looks something like this: I hope this email finds you well….

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FinCEN’s Beneficial Ownership Information Reporting Requirement


As of January 1, 2024, the U.S. Treasury Department’s¬†Financial Crimes Enforcement Network (FinCEN) has imposed a new obligation on almost all corporations and LLCs doing business in the U.S. Companies that fall under this obligation (“reporting companies”) must file reports containing identifying information of certain individuals, with a limited number of exceptions. This is an ongoing obligation – meaning, it’s not necessarily a one-time filing, these reports are required when certain changes are made to the company. In this post, I’ll go over some of the details. Which Companies Does This Apply To? The rule does not apply to companies…

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