From Subway to Supercuts
Thanks to the ongoing "jobless recovery," more out-of-work or underemployed Americans are considering franchises as the answer to a bleak job market. The International Franchise Association forecasts that the industry will see 2.5 percent growth this year, with nearly 20,000 new franchise establishments opening nationwide, creating 194,000 new jobs. If you are considering franchise ownership, below are several "dos" and "don'ts."
By Stephen E. Story
Five Ways to "Green" Your Small Business
Mention the word "green" to most small business owners and they think dollars. But increasingly theyre also thinking about the environment. Today companies are finding that the "going green" trend benefits not just the environment but also a firms bottom line. The question for many business owners then is how to get started.
Aircraft Registration Requirements Revamped
Once upon a time, you bought and registered an aircraft and it was registered for good as long as you continued to operate it. However, the days of a permanent registration for all aircraft are gone, causing a new headache for corporate flight departments everywhere. Under new FAA rules that took effect last fall, for all aircraft (including helicopters) that were registered before October 1, 2010, the registration expires according a table of rolling dates based on the month the current registration was issued.
By W. Hunter Old
Private Client Services Update - Keeping Them Honest - Curbing Abuse by Agents Appointed in Powers of Attorney
No one recites their wedding vows to his or her new spouse anticipating a breach of the trust represented by them. It is much the same with a principal who executes a power of attorney in favor of his or her designated agent. Be it a spouse, child, grandchild or trusted friend, a principal has formed an expectation that his or her agent will act in his or her best interest within the confines of the executed document. The sad truth of the matter is that the same breach of trust experienced by many married couples also plagues those in a principal – attorney in fact (or agent) relationship.
By Vonda W. Chappell and Private Client Services
NASDAQ Proposes Enhanced Requirements for Reverse Merger Companies
In the past two months, the securities of more than a dozen Chinese companies listed on US exchanges have been halted or delisted as a result of allegations of fraud, accounting irregularities or other regulatory concerns. Almost all of these companies became public companies in the US by completing a reverse merger, a transaction by which an existing public company (which often engages in little to no active business) acquires all of the equity of another company in return for a negotiated percentage of the public companys stock.
By Anthony W. Basch
Private Client Services Update - Protecting Your Estate Planning Documents and Ensuring They are Accessible When Needed
Many clients assume that bank safe deposit boxes are the logical or even required repository for wills, original trust agreements and other important documentation. Our lawyers commonly advise clients to use safe deposit boxes with some specific guidance. Despite the long popularity of safe deposit boxes, alternatives are becoming increasingly prevalent.
By Gregory R. Davis, William L. Holt and Private Client Services
Private Client Services Update - Advance Medical Directives: One Caveat with the New Virginia Form
Section 54.1-2984 of the Code of Virginia sets forth a suggested form of Advanced Medical Directive, which thoughtfully provides a number of options and a great deal of flexibility. A careful review of the form, with appropriate annotations and directions where permitted, should achieve the results that the signor of the Directive desires.
By Robert C. Goodman Jr. and Private Client Services