Tag: pollack pollack & kogan

Benefit corporations attract millennials

The Wisconsin legislature has passed new legislation allowing Wisconsin businesses to incorporate as benefit corporations, which focus not only on shareholder profits but also on their impact on the environment, the community and society.

Tax law treats benefit corporations and C Corps equally, but a benefit corporation requires its corporate directors and officers to consider all stakeholder interests when making decisions.

Incorporating as a benefit corporation may give companies a leg up in the competition to attract top talent. Studies show that millennials want to work for a company that shares their values, and are willing to accept a pay cut to do so, Forbes reported. They’re also more willing to buy products from socially responsible brands.

Some colleges, such as Princeton, even forgive or reduce student loans for graduates working at a benefit corporation, per Forbes.   

Millennials want their work to be meaningful, and to have a positive impact on the world through their work, Business Insider reported. Workers who feel they are making a difference through their work will stay with a company longer and be willing to work more hours.

They feel working for a company that shares their values is more important than a higher salary or flexible hours, per Business Insider, and only slightly less important than the chance to work with talented people, which they deemed most important.

Forbes reported there are more than 5,500 benefit corporations in the United States, and that 34 U.S. states have passed the benefit corporation legislation.

The Miami law firm Pollack, Pollack & Kogans LLC represents clients in all areas of business law. The business litigation firm acts as local counsel for out-of-state and foreign attorneys, in the fields of complex civil and commercial litigation, probate litigation, injunctive relief, judgment and debt collection, contract litigation, landlord- tenant disputes, legal ethics dilemmas, securities arbitrations, and all business concerns and disputes.

Florida is among best states in which to do business

Florida has ranked within the top 10 states in which to do business in a list compiled by Forbes magazine.

Florida ranked number seven and North Carolina first in the Forbes best states for business in 2017 list, based on seven criteria and published by the magazine last month.

North Carolina ranked second lowest in business costs, high in offering incentives, and boasted a young, educated workforce. Rates of people moving into the state are high, and the state is the only one to rank among the top five for 12 straight years.

Texas, with the second largest economy in the United States after California, came in second. The state has strong employment, and 10 percent of the 1,000 largest public and private companies in the United States are based in the state.

Utah, formerly first, came in third this year because of rising labor costs and a weaker economic forecast.

Nebraska and Virginia round out the top five on the list. Nebraska has a low unemployment rate of 2.9 percent, which is among the lowest in the United States. Virginia offers strong incentives and government policies that are friendly to businesses.

Florida followed Georgia on the list. Rounding out the top 10 were Colorado, North Dakota and Indiana.

West Virginia ranked as the worst state on the list for the third year in a row. Also low-ranking were New Mexico, Vermont and Alaska.

The rankings were based on business costs, labor supply, regulatory environment, economic climate, growth prospects, quality of life and population.

The Miami law firm Pollack, Pollack & Kogans LLC represents clients in all areas of business law. The business litigation firm acts as local counsel for out-of-state and foreign attorneys, in the fields of complex civil and commercial litigation, probate litigation, injunctive relief, judgment and debt collection, contract litigation, landlord- tenant disputes, legal ethics dilemmas, securities arbitrations, and all business concerns and disputes.

Follow these etiquette guidelines for your office party

Nearly 70 percent of employers say they’ll have a holiday party this year, according to a CareerBuilder survey. But office parties can be dangerous to navigate for both employees and employers.

A holiday party should be a voluntary event and employees should be assured that their attendance is not mandatory. But if you do decide to attend and  want to have fun yet still want have a job come Monday morning, consider these guidelines developed by Business Insider:

  • Make an effort to show up at the office holiday party. It shows your commitment to your job and company. But if you’re an employer, don’t retaliate against employees who don’t attend; they may have a legitimate reason.
  • Don’t be the first person to leave. It makes it look like you have better things to do and never wanted to be there in the first place.
  • Dress appropriately.  Just because the party is after work hours, that doesn’t mean you should wear something that’s not work appropriate.
  • Make sure your significant other knows what kind of attire is expected and if there are any topics they should avoid discussing.  Their behavior will reflect on you.
  • Don’t be antisocial. Talk to people you don’t know and use the party as an opportunity to meet new people.
  • Don’t get drunk. Set a limit for yourself before going to the party. Make sure you eat something to lessen the effects of alcohol..
  • Keep your conversation positive. Don’t complain about your job or company. You never know who’s listening.
  • Don’t talk about work. This is social time. Read about current events or topics from professional journals ahead of time so you have some conversation starters ready.
  • Don’t flirt. You don’t need a sexual harassment claim against you.
  • Don’t make a fool of yourself. You don’t know who’s taking video or where it will wind up. Likewise, avoid posting negative comments and inappropriate photos of others to social media.
  • And finally, make sure you say thank you to the host or party organizers.

For questions about how business law might apply to planning your office holiday party, contact the Miami office of PPK Law firm.

A Thanksgiving reflection on Colonial law

A business in need of legal help today has the option of strong representation by Miami litigation law firm Pollack, Pollack & Kogan. 

But as we celebrate Thanksgiving this week, let’s pause to reflect on the origins of our legal system during Colonial times and give thanks for the rights and freedoms that developed from it.

American Colonists relied on the 1215 English document, the Magna Carta, to outline individual freedoms, yet sought to develop a system that would ensure social order. Because of their strong religious beliefs, they believed in repentance and the return of the defendant back into community life.

Because of the Colonists’ Puritan beliefs, offenses were considered to be against God as well as against society. Puritan laws often included religious messages and quoted Bible passages.

Heresy was a major crime that could lead to being forced to leave the colony. Blasphemers could be whipped have a hole made in their tongue. Not properly observing the Sabbath or skipping religious services was also considered breaking the law.

Witchcraft was considered a very serious crime. People who practiced witchcraft were believed to have made pacts with the devil, and were sometimes put to death.

Other actions considered a crime included lying, idleness, drunkenness, playing such as shuffleboard or cards, and flirting.

There was no professional police force at the beginning of the colonies’ development, although there were often constables and night watchmen.  Later, as colonial governments became more established, the governor would appoint a sheriff to enforce laws, run the jail, select juries, and manage prisoners.

Shame, scorn, and humiliation were used to teach lessons for misbehavior, as well as whipping and placing the guilty in stocks.

Happy Thanksgiving from PPK Law firm!

Pollack, Pollack & Kogans  LLC – a litigation law firm – represents clients, and acts as local counsel for out-of-state and foreign attorneys, in the fields of complex civil and commercial litigation, probate litigation, injunctive relief, judgment and debt collection, contract litigation, landlord- tenant disputes, legal ethics dilemmas, securities arbitrations, and all business concerns and disputes.

U.S. Supreme Court

Supreme Court fall term jam packed with business law

U.S. Supreme Court
The U.S. Supreme Court’s busy fall session is in full swing.

The United States Supreme Court has a full plate beginning this week, and several of the cases slated for arguments have a big impact on business.

Those cases range from whether a baker must make a cake for a gay wedding if he or she opposes gay marriage on religious grounds to whether New Jersey can allow sports betting in casinos.

The lawyers at Pollack, Pollack & Kogan, LLC will be watching these cases closely. The firm focuses on litigation, representing clients in complex civil litigation, probate litigation, injunctive relief, judgment and debt collection, contract litigation, landlord- tenant disputes, legal ethics dilemmas, securities arbitrations, and other matters involving business disputes.

Here’s a look at high court cases this term—the full term for Donald Trump appointed Justice Neil Gorsuch—with a direct bearing on business:

Group Arbitration

The court heard arguments Monday in the case of NLRB vs. Murphy Oil and two related cases. At issue is whether companies can require workers to waive the right to join class action lawsuits against their employer and instead rely on arbitration to settle disputes. The Obama Administration argued that arbitration requirements were illegal under the National Labor Relations Act of 1935. The Trump Administration reversed that position, saying such waivers were legal under the Federal Arbitration Act of 1925.

Wedding cake for gay wedding

One of the more polarizing cases pits Masterpiece Cakeshop vs. Colorado. At issue is whether a baker can refuse to make a cake for a gay wedding based on religious beliefs or whether the state can require businesses to provide “full and equal” services to all customers. In the case the court is hearing, the Trump administration wants the court to allow free speech exemptions from such state requirements for those such as bakers, musicians and photographers whose work is “expressive.”

Sports betting

In the case of Christie vs. NCAA, the court will hear arguments over whether New Jersey can allow sports betting at casinos or must follow federal law that prohibits such betting outside Nevada.

Discrimination

The court will hear arguments over whether the Civil Rights Act of 1964 forbids employers from firing people because of their sexual orientation.

The 7th Circuit Court in Chicago has ruled that the Civil Rights Act applies to discrimination based on sexual orientation. The 11th Circuit Court in Atlanta has come down on the opposite side.

Facebook's Mark Zuckerberg

Mark Zuckerberg abandons share plan

Facebook's Mark Zuckerberg
Mark Zuckerberg, facing the threat of a lawsuit, backs off plan to issue non-voting Facebook shares.

The richest and most powerful business people certainly aren’t immune to lawsuits, or to shifting their plans in the face of in the face of them. Just ask Facebook CEO Mark Zuckerberg.

The fifth-richest person in the world, facing the threat of a complex lawsuit from shareholders, has abandoned plans to issue a third class of Facebook shares.

Zuckerberg has total control over Facebook, thanks to his ownership of 60 percent of its shares. At the same time, he and wife Priscilla Chan have committed to giving away 99 percent of their wealth and most of that wealth is tied up in the shares that give him control over the company.

In order to fund the charitable Chan Zuckerberg Initiative while holding onto control of the company, Zuckerberg had planned for Facebook to offer Class C shares that would have the economic benefits of other shares, but not the voting rights. That way, he would have been able to sell a few billion dollars worth of shares without giving up power over the company he founded. As he wrote in a Facebook post:

At the time, I felt that this reclassification was the best way to do both of these things. In fact, I thought it was the only way. But I also knew it was going to be complicated and it wasn’t a perfect solution.

It was far from perfect, as a matter of fact, and resulted in the threat of a class action lawsuit on behalf of current shareholders.

The good news, though, is that the price of Facebook shares has appreciated so much that Zuckerberg will still be able to sell enough shares to fund the Chan Zuckerberg Initiative and hold onto control of the company, without issuing the new class of shares.

As Zuckerberg writes:

Over the past year and a half, Facebook’s business has performed well and the value of our stock has grown to the point that I can fully fund our philanthropy and retain voting control of Facebook for 20 years or more. As a result, I’ve asked our board to withdraw the proposal to reclassify our stock — and the board has agreed.

But the entire saga illustrates the kind of complex legal issues that businesses often face and that PPK specializes in.

Goldman Sachs Stops Work On IPO For Chinese Conglomerate

Goldman Sachs has suspended work for a Chinese conglomerate outsourcing their U.S. initial public offering (IPO)…”Reuters reported in July that HNA had tapped Goldman to work on the U.S. IPO of Pactera, a Beijing-based firm it bought from Blackstone last year for $675 million in cash. The unit was renamed HNA Ecotech Panorama Cayman Co this year…” [ Read more here ]

hurricane irma what you need to know

What Do You Need To Know About Hurricane Irma?

Hurricane Irma is set to cause havoc across Florida and potential the Carolina’s in the next few days, and is being hailed as one of the most powerful storms in recent history, with some even calling for new classifications for Category 6 and 7 designations. So what should you know about this historic storm? “Irma has quickly become one of the most powerful Atlantic Ocean hurricanes ever recorded, with wind speeds of 185 miles per hour. As this monster churns through the Caribbean and heads toward Florida, here is the lowdown…” [ Read more here ]

An Intellectual Property Guide For Entrepreneurs

How are you protecting your business assets and intellectual property rights – the backbone of your business? The team at Miami Business Litigation has you covered, and check out these guidelines for the basics behind filing property protections and how it impacts your rights…

“Intellectual property is any invention or piece of original work you’ve personally developed, such as your business’s name, logo, products, marketing materials and designs. Protecting your intellectual property helps prevent others from using or copying it, and if someone does copy it, you have recourse…” [ Read more here ]

global antitrust attacking intellectual property

Global Antitrust Attack Targeting Intellectual Property Rights

global antitrust attacking intellectual property Are your intellectual property rights under attack? There’s an ongoing dispute regarding the future of antitrust laws and how the international community should be policing, as reported on by Forbes:

“There is a disturbing trend among international antitrust authorities: using antitrust laws to devalue intellectual property rights, to intervene in favor of one side or another in licensing disputes, and to impose unwarranted extra-jurisdictional remedies on patent licensing (i.e., foreign governments telling U.S. companies how to price U.S. and other foreign patents). This trend is a serious problem for innovation, economic growth, and consumers…” [ Read more here ]