Introduction On April 23rd, 2024, the Federal Trade Commission (FTC) issued a groundbreaking ruling that effectively bans employers from creating or enforcing non-compete clauses on their workers. While this ban doesn’t apply to every non-compete clause, its overarching goal could either benefit or challenge business owners in the United States. This post will explore the specific rulings made by the …
Ways for Businesses to Pay for Costly Litigation and Lawyers’ Fees
Litigation is expensive and many clients are not prepared for the financial investment necessary for filing a lawsuit. Litigation can take months or even years, during which attorney’s fees and other legal expenses continue. After the retainer fee, clients continue paying the attorney as the case progresses. Thus, it is essential to plan for protracted legal expenses. With a formidable …
Understanding Creditor’s Rights in Business Law
In the complex world of business law, one critical area that both businesses and legal professionals need to comprehend is creditor’s rights. These rights play a pivotal role in the financial and operational stability of businesses, impacting everything from cash flow management to bankruptcy proceedings. This blog post aims to demystify what creditor’s rights are, why they matter, and how …
The Most Common Disputes with Commercial Leases
Navigating the complex world of commercial leases can be difficult, especially when disputes arise. For commercial tenants, property managers, and business owners, understanding common issues that arise in commercial leases is crucial. Let’s take a look at three frequent sources of conflict in commercial leases and tips for resolving them. Common Lease Disputes 1. Rent Increases What’s the Issue? One …
Registered Agent vs. Resident Agent: Understanding the Distinction for Business Owners
When navigating the intricate world of business formation and compliance, terminology can often become a hurdle. Among the various roles and responsibilities that must be addressed, the concepts of a “Registered Agent” and a “Resident Agent” frequently emerge, leading to confusion among entrepreneurs and business owners. Are they interchangeable terms, or do they signify different roles? This blog post aims …
The Critical Importance of Keeping Your Operating Agreement Updated
In the dynamic world of entrepreneurship, an operating agreement serves as the constitutional backbone of a Limited Liability Company (LLC). It’s an essential document that details the ownership structure, operating procedures, and outlines how critical decisions are made within your business. But what many small business owners may overlook is the significance of keeping this foundational document up to date. …
BLSW Attorneys Named Super Lawyers and Rising Stars
Super Lawyers rates outstanding lawyers who have attained a high-degree of peer recognition and professional achievement. Super Lawyers recognizes the top attorneys nationwide, across a variety of practice areas and firm sizes, using a patented process of independent research and peer input. The lawyers selected include those with many years of experience, as well as the Rising Stars of the …
How to Register a Business in New Mexico: A Step-by-Step Guide for Entrepreneurs
Opening a business can be an exciting venture, but it’s filled with legalities that can turn daunting if you’re not prepared. In New Mexico, as in other states, registering your business is a crucial step towards legality and legitimacy. This guide targets small business owners, budding entrepreneurs, and anyone who’s considering the professional assistance of a lawyer during their business …
Understanding Corporate Bylaws and Their Significance for Your Business
For the budding entrepreneur or the seasoned small business owner, the navigational charts of the business world can often seem filled with legal jargon and documentation. Among such essential documents are the often-overlooked yet critical corporate bylaws, the internal map that guides a company’s operations and governance. This post shines a light on what corporate bylaws are and why they’re …
BLSW Explains the Corporate Transparency Act at The NMDOT Conference
On February 28, 2024 NMDOT Star held their 2024 Conference. Attorney Larry Donahue hosted the “Wednesday Webinar” discussing The Corporate Transparency Act and You. Starting on January 1, 2024 a new law went into effect that requires a significant amount of the US Companies to report Beneficial Ownership Information to the US Government via FinCen. Failure to report their businesses …