Of Sound Mind: Make Plans for Your Digital Estate
Our new digital world raises many new questions and leaves us to scramble for answers. It’s hard enough for us to keep track of our passwords, user names and accounts when we are of sound mind and body. How difficult will it be when we are no longer around to do that? Today we have […]
Strategies for Promoting an Effective Board Culture
The ideal board culture encourages full discussion of issues, values different viewpoints and protects confidentiality. To promote and support a strong board culture, boards should: 1. Agree on the role of the board and management to avoid miscommunication with respect to delegated authority and the board’s participation in decision-making. 2. Understand the value and the […]
Customizing Multi-State Non-Compete Agreements
(This is the final of four posts discussing current issues with non-competition agreements that cross state lines. — Keith Sieczkowski) There is no “standard” non-compete agreement that can be used all the time regardless of the states involved. As we recently observed with the Marsh decision in Texas, non-competes are regularly the subject of judicial […]
Purchase Agreements with Non-Compete Clauses
(This is the third of four posts discussing current issues with non-competition agreements that cross state lines. Companies and legal counsel must be sure to craft these agreements carefully. As I will explain in my fourth and final post of this series there is no “standard” agreement that can be used all the time regardless […]
6-Year Limitation Does Not Apply To Basis Overstatement
The Supreme Court in U.S. v. Home Concrete and Supply, LLC, 80 U.S.L.W. 3078 (U.S. 2012) has held that an overstatement of basis resulting in understated income is not an omission of gross income subject to the six year limitation on assessment of tax under Internal Revenue Code Section 6501(e)(1)(A). Code Section 6501(a) generally provides […]
Choice of Law Provisions & Non-Compete Agreements
(This is the second of four posts discussing current issues with non-competition agreements that cross state lines. Companies and legal counsel must be sure to craft these agreements carefully. As I will explain in my fourth and final post of this series there is no “standard” agreement that can be used all the time regardless […]
Executive Rights Holders: New Lease Considerations
The Texas Supreme Court’s ruling in late 2011 in Lesley, et al v. Veterans Land Board of the State of Texas, et al indicated a shift in Texas law regarding the duties of the holders of executive rights to the owners of nonexecutive mineral interests. For the uninitiated, “executive rights” are one component of the […]
Non-Compete Agreements Vary Widely From State to State
(This is the first of four posts discussing current issues with non-competition agreements that cross state lines. Companies and legal counsel must be sure to craft these agreements carefully. As I will explain in my fourth and final post of this series there is no “standard” agreement that can be used all the time regardless […]
Texas Tort Reform Update: New Rules Coming
Texas continues to be among the leading states in tort reform. The bulk of Texas tort reform was accomplished in 2003, in which the Legislature passed reforms in the areas of medical malpractice, damages caps, products liability, proportionate liability, and settlement practices. The 79th legislative session in 2005 did not produce nearly as many reform […]
The Amazing and Likely Disappearing $5 Million Gift Exemption?
Current law allows tax free gifts up to $5,120,000 per taxpayer. However, this tax free amount is scheduled to fall to $1 million on January 1, 2013. What, if anything, should you do now? If you have the resources to make large gifts should they be completed before the end of the year? A married […]
