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Legal Articles

How to Protect Your Assets Using an LLC

Posted by Patrick Ivy | May 02, 2023 | 0 Comments

Creating a limited liability company (LLC) is a great way to protect your assets. Whether you transfer your real property to an LLC or create an LLC to form a company to protect your personal assets from creditors, this article will explain the benefits of an LLC and how forming one can protect your assets.

What is an Escrow and How Does it Work?

Posted by Ryan M. Newburn | Apr 25, 2023 | 0 Comments

An escrow account is a contractual arrangement where a third party holds money or property in trust until the contracting parties meet a set of conditions. The third party is referred to as an escrow agent. They are neutral to the parties and the agreement and are responsible for the safekeeping and distribution of the money or property in trust upon satisfaction of the conditions.

Fiduciary Duties: How to Ensure You are Abiding By Them

Posted by Ryan M. Newburn | Apr 18, 2023 | 0 Comments

Many professionals may owe fiduciary duties to beneficiaries, colleagues, or co-owners in a business. But what is a fiduciary, and who is a beneficiary? Who might owe a fiduciary duty? How do I abide by my fiduciary responsibilities if I have any? This article will cover the basics of fiduciary duties so that you may understand and comply with them.

Everything You Need To Know About B-Corps

Posted by Ryan M. Newburn | Mar 28, 2023 | 0 Comments

Over the last decade, businesses have become increasingly aware of their impact on the world around them. The growth of the ESG (environment, social, governance) movement has encouraged companies to consider more than just profits. One of the tools of the trend has been B-Corp certification. This certification can demonstrate to consumers a corporation's commitment to acknowledging its impact on the environment, community, and individuals.

Protecting Yourself from Internal Business Risks in Formation Documents

Posted by Ryan M. Newburn | Mar 07, 2023 | 0 Comments

So you're ready to start a business. Which entity type is right for your goals? Many types of business entities depend on how many partners hold equity, what kind of tax protections are important, and how long the business venture is intended to last. This article will discuss several entity types, the filings required with the state, and their internal operating documents. Please note that there are additional, more complex entities that this article does not discuss but still stand as options for incorporation. Further, each state's definitions and specifications differ for properly forming business entities. Therefore, be sure to check your state's requirements.

What California's Cannabis Law on Interstate Commerce Means for Your Cannabis Business

Posted by Ryan M. Newburn | Feb 28, 2023 | 0 Comments

On September 18th, 2022, California passed S.B. 1326, which provided some major implications for the future of interstate cannabis agreements. Additionally, the California Department of Cannabis Control has pushed the Attorney General to allow the interstate transfer of cannabis and cannabis products. This article will explain the law and important future policy changes to look out for.

Department of Labor's Broad Independent Contractor Proposal - What You Need to Know

Posted by Ryan M. Newburn | Feb 14, 2023 | 0 Comments

On October 13, 2022, the U.S. Department of Labor published a Notice of Proposed Rulemaking (NPRM) in the Federal Register to revise their guidelines on the distinction between an employee and an independent contractor under the Fair Labor Standards Act (FLSA). The proposal would replace a rule promulgated in 2021, the Independent Contractor Status Under the Fair Labor Standards Act, by creating an analysis for determining whether someone is an independent contractor or an employee. The proposal aims to reduce the risk that employees get classified as independent contractors in the future. This article will explain the proposed rule, how it would change the analysis, and compare it to other methods of distinguishing between an employee and an independent contractor.

New Labor Laws' Impact on Injunctive Relief and Non-Compete Provisions

Posted by Ryan M. Newburn | Feb 07, 2023 | 0 Comments

Lately, labor laws on injunctive relief clauses and non-compete provisions have been under scrutiny by the Supreme Court of the United States and the Federal Trade Commission (FTC). The Supreme Court is hearing cases on labor laws that include contracts with injunctive relief provisions. Moreover, the FTC recently proposed a ban on non-compete provisions that, if passed, would have significant implications for employers and businesses. This article will explain the possible changes and help your business prepare if there are substantial revisions to labor laws.

How Your Business Can Recover Business Debts

Posted by Ryan M. Newburn | Jan 31, 2023 | 0 Comments

Not receiving payments for services or goods provided may severely impact your cash flow and overall business. In some situations, legal action may be required. However, before you get lawyers involved, there are many steps you can take to recover your business debts.

Current Status of Climate Change Lawsuits

Posted by Ryan M. Newburn | Jan 24, 2023 | 0 Comments

Climate change is a term that most of us have heard by now in some form or another. Whether from the news, social media, or in casual conversation out in the real world, we may have heard it being used in a negative context, or perhaps even in a contentious or controversial one, as it relates to "politics" or personal beliefs.

Cannabis Dispute Resolution

Posted by Ryan M. Newburn | Jan 17, 2023 | 0 Comments

Disputes can arise between business partners, providers, customers, or employees. You can avoid future complications by providing a means of conflict resolution in your contracts. Many businesses in the cannabis industry should consider Alternative Dispute Resolution Provisions in their contracts. If you own a cannabis business, contact our experienced cannabis attorneys to learn what dispute resolution provisions work best for your company.

Can You Accept Cryptocurrency As Payment?

Posted by Ryan M. Newburn | Dec 20, 2022 | 0 Comments

Cryptocurrency has continued to emerge as a novel form of conducting transactions. According to data from the Pew Research Center, 16% of adults have personally invested, traded, or used cryptocurrency. Consequently, as its popularity has grown worldwide, businesses may now opt to take advantage of the crypto exchange to accept payment. However, like any new business practice, there are important practical and legal considerations you should understand before implementation. This article will explain the advantages and disadvantages, and any other considerations, of accepting cryptocurrency as payment for your business. If you have any questions about whether your business can or should accept cryptocurrency payments, contact our experienced business lawyers today.

Colorado SB-181

Posted by Ryan M. Newburn | Dec 13, 2022 | 0 Comments

In 2019 the state of Colorado passed Senate Bill 19-181 ("SB-181") to “Protect Public Welfare Oil and Gas Operations.” SB-181 both created new regulatory authority and amended the "Oil and Gas Conservation Act" rules to protect public safety, health, welfare, and the environment. The bill has made the oil industry in Colorado more restrictive and granted local governments more authority to promulgate rules regarding drilling and infrastructure.

How Securities Laws Impact Cryptocurrencies

Posted by Ryan M. Newburn | Dec 06, 2022 | 0 Comments

Since the launch of Bitcoin in 2009, the cryptocurrency market has emerged as a trillion-dollar industry around the globe. People exchange coins like Bitcoin, Ethereum, and Dogecoin on various markets, raising questions about whether these coins and tokens are securities. Cryptocurrency emerged as a novel attempt to replace fiat currency as a means of exchange and a store of value, but it has long since grown.

Federal Cannabis Legislation Updates – October 2022

Posted by Ryan M. Newburn | Nov 01, 2022 | 0 Comments

President Biden's announcement in October 2022 on steps to make changes to the federal treatment of marijuana came as a sort of surprise for most Americans. Many people wonder what this announcement means, how big of an impact it has, and what other things are being done to change the cannabis and legal landscape in this area. This article will address some of those topics, dive into federal cannabis legislation, and discuss how these can affect the legal cannabis industry. Many Americans are unaware that there has been extensive movement on both the Democratic and Republican sides for cannabis-related legislation in recent years.

Important Terms to include in Commercial Leases

Posted by Ryan M. Newburn | Oct 25, 2022 | 0 Comments

Commercial leasing can be very lucrative and rewarding, but the lease contracts themselves can be complex and require careful construction and review. Whether you are an individual landlord or an organization leasing a commercial space, it is important to understand the terms of your commercial lease. This article will discuss the different types of commercial leases and address some of the ins and outs of what they can and should include. An experienced commercial transactions attorney can help you understand your commercial lease agreement or help draft an agreement that works best for you or your business.

Status of the MORE Act and the CME Act

Posted by Ryan M. Newburn | Oct 18, 2022 | 0 Comments

In March 2022, the Senate passed the CMRE Act, the Cannabidiol and Marijuana Research Expansion Act) while also scheduling the MORE Act, the Marijuana Opportunity and Expungement Act. These acts are crucial pieces of legislation for the cannabis industry. This article explores these acts and how they will impact cannabis businesses and individuals. If you have any questions regarding these acts, contact our experienced cannabis lawyers today.

Carbon Credits and the P&A of Inactive, Temporarily Abandoned or Shut-In Wells

Posted by Ryan M. Newburn | Oct 11, 2022 | 0 Comments

The government gives carbon credit permits to companies to emit carbon and certain other greenhouse gases. The carbon credit tax credit program is designed to incentivize the reduction of greenhouse emissions by companies that emit carbon and other pollutants. Essentially, a company can purchase a carbon tax credit, also known as a carbon offset, to offset their carbon dioxide emissions produced by industrial production (manufacturing), travel and/or delivery of goods.

Legislators' Views on Blockchain Technology and Energy Consumption

Posted by Ryan M. Newburn | Oct 04, 2022 | 0 Comments

Industries and sectors across the board are beginning to use blockchain technology. Specifically, people are using blockchain technology to record information on a digital lender maintained by a network of computers, making it difficult to alter or hack. This technology provides a secure way for individuals to deal with one another without having an intermediary, such as the government, bank, or third party. While companies are using blockchain technologies to track low-carbon energy, the amount of energy the technology currently uses has led to criticism by climate change activists. A major drawback of using blockchain technology is the energy required to execute a transaction or validate a new block on the chain.

Federal IP Due Diligence

Posted by Ryan M. Newburn | Sep 20, 2022 | 0 Comments

Due diligence is the legal process buyers and sellers undergo to correctly identify, investigate, and evaluate a target company's assets, liabilities and business opportunities and risks. A key asset that parties must consider before a merger or acquisition is intellectual property. Specifically, buyers and sellers must comply with all federal laws that apply to intellectual property transactions. The process can be time-consuming. However, effective due federal IP due diligence can allow buyers and sellers to identify and resolve risks before closing a transaction.

Charitable Sales Promotions - What They Are and Best Practices

Posted by Ryan M. Newburn | Sep 13, 2022 | 0 Comments

As the demand for charitable services increases, and with the surge of donations seen in 2020 and 2021, charities need to get creative with the ways they fundraise. Fundraising is a crucial part of charities’ ability to function. One potentially successful way to increase funding is through charitable sales promotions. This is when non-profits partner with for-profit businesses and use the power of brand recognition to bolster donations and revenue for both companies. If you are a charity or a for-profit organization interested in charitable sales promotions, you must understand how they work and what federal and state laws apply. This article describes what charitable sales promotions are, their benefits, what contracts should include, and tax requirements. You should always consult with an experienced contract lawyer when engaging in sales promotions to ensure you meet all legal requirements. Our team of experienced non-profit lawyers can help answer any questions you may have.

Best Practices When Preparing UCC Filings

Posted by Ryan M. Newburn | Sep 06, 2022 | 0 Comments

The Uniform Commercial Code (UCC) is a set of laws governing commercial transactions, like the sale of goods. In addition to commercial transactions, the UCC covers secured transactions, also called security interests, in which lenders hold the right to seize a borrower’s collateral should the borrower default on a loan. The UCC also addresses negotiable instruments. Negotiable instruments refer to a specific document, such as a check, that is used to guarantee payment by a set date. If you deal with any type of commercial transaction, you should know which UCC filings apply to you and the best practices for filing UCC forms.

Partnership Agreements: What You Need to Know

Posted by Ryan M. Newburn | Aug 30, 2022 | 0 Comments

Business partners should always enter a partnership or similar operating agreement when entering a business partnership. This type of agreement allows each partner to understand its role, responsibilities, and protections to ensure a successful partnership. This article describes what a partnership agreement is, who needs one, and tips for creating a strong agreement to set up a successful venture. If you have any questions, you should always consult with knowledgeable business lawyers to avoid legal issues in the long run. Our legal team of experienced business lawyers has years of experience advising our clients and drafting partnership agreements to achieve both partners' goals.

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