Business Law Insights
What Business Owners Should Know About the Department of Labor (DOL) Overhaul of Overtime Regulations
The Department of Labor’s (DOL) recent overhaul of overtime regulations, effective July 1, 2024, has sent ripples through the business world. The increased salary threshold to qualify for the white-collar exemptions has expanded the pool of employees eligible for overtime pay, necessitating a comprehensive re-evaluation of workforce classifications for many
The FTC Ruled That Noncompetes Are Dead! But Are They Really?
On April 23, 2024, the US Federal Trade Commission issued a final rule banning many noncompete agreements nationally, with some exceptions. This came months after California led the charge with Senate Bill 699 and Assembly Bill 1076, which went into effect on the first of this year. The FTC estimates
Managing Multiple Businesses: Pros & Cons of Holding Companies
With the rise of entrepreneurship and the “gig economy”, more and more people in Kansas and Missouri are engaging in multiple business ventures. While this can be extremely profitable, it can also create a complicated web of legal obligations that need to be managed. One option is choosing to form
Business Contracts: Where to Start and What to Do
Contracts can be oral or in writing. Good business practice is to always reduce your agreement to writing. Regardless whether oral or written, a contract is an agreement between two parties that binds them to carry out (or not carry out) certain or specific actions. The requirements of a contract
Top 3 Ways to Buy or Sell a Business
Buying or selling a business is a complex venture that requires buyers and sellers to adhere to specific legal processes, and necessitates careful planning. Sales agreements are legal documents that outline the terms and conditions associated with the transaction and enable a meaningful evaluation of all company assets and liabilities.
When Deciding to File a Lawsuit, What Matters Most – the “Principle” or the “Principal”?
When you have been injured or when you are involved in a dispute about money, there can be a tendency to rush the decision to sue. It’s important to remember that the money you recover in a lawsuit comes at a cost, such as lawsuit filing fees, attorney’s fees, and
How a Lawyer Can Help You Form an LLC
A limited liability company (LLC) is a powerful legal entity model that you can use to protect yourself and your new business. Forming an LLC with the help of an experienced business attorney can give you peace of mind that your personal and business interests are protected from liability. Our
Ban on Non-Compete Agreements – What It Means For Your Business
Non-compete clauses and agreements have been around for nearly 600 years. So why are they now on the verge of being eradicated and what does it mean for the future of business? Our business lawyers are here to offer an overview of this changing landscape. Background The original purpose of
Insurance Issues for Business Owners
Are you a small business owner wondering if you have an insurance claim for business interruption, for a cyber security incident, or other problems arising from the Covid-19 crisis? Or, has someone made a claim against your company and you wonder whether the insurance company is looking out for your
What is the Difference Between an Independent Contractor and Employee?
America’s work climate has changed over the last several decades. Companies like Amazon, Uber and Ebay have paved the way in creating a new way to work. There are currently 57 million people who are part of the new “gig economy.” This type of work can be full time or
Construction Industry Trends for 2019
If you’re a construction business owner, it is important to be aware of upcoming trends in the industry. Being able to anticipate what is ahead will keep you from falling behind and help you remain competitive in an ever-changing business climate. The construction industry had a good year in 2018.
Richard Morefield Appointed to Chair TIPS Trial Techniques Committee
Attorney Richard Morefield has been appointed as Chair of the TIPS Trial Techniques Committee for the 2017-2018 membership year. As chair, Rick will lead a diverse group of trial attorneys and law students from across the United States toward the goal of enhancing trial and advocacy skills for the more than 2000-member
Appeals: Kansas Supreme Court
Next in Morefield Speicher Bachman’s series on law for non-lawyers, is a discussion about appeals in Kansas. This article will look at what the appellate courts do and the differences between the two levels of appellate courts. On March 9, 2016, Kansas residents will get the opportunity to attend a session of the Kansas Supreme Court
Mediation and Alternative Dispute Resolution
This is the third article in our “Law for Non-Lawyers” series. If you are involved in a lawsuit, you should ask your lawyers about mediation or alternative dispute resolution. Alternative dispute resolution (“ADR”) refers to any method of resolving a claim that is an alternative to trial. ADR includes mediation,
Hearsay Evidence: Legal Basics for Non-Lawyers
If you have ever watched a legal thriller or read a John Grisham novel, you have heard attorneys or judges use the word “hearsay”. If you are involved in a lawsuit, it is helpful to have a basic understanding of this legal term. Hearsay is a type of statement that