Treasury ends enforcement of business database meant to stop shell companies
President Donald Trump praised the suspension of enforcement of the rule and said the database is “outrageous and invasive.”
Business Law
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Federal agency wants regulation for paycheck advances
A proposed new Consumer Financial Protection Bureau rule would require companies to let consumers know that many paycheck advance products are actually loans subject to federal disclosure requirements.
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Hannesson I. Murphy: Prognosis for physician non-competes in Indiana: poor
In the last decade, over a dozen states (all outside the Midwest) have adopted bans or strict limitations on physician employment non-competes. Indiana joined that group with the adoption of a physician non-compete statute, which became effective July 1, 2020.
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Corporate transparency: New federal law imposes reporting requirements on some businesses
The law is intended to provide law enforcement with ownership information about many companies for the purpose of detecting, preventing and punishing terrorism, money laundering and other misconduct through business entities.
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Companies seek liability protection for top execs
A growing number of companies in Indiana and elsewhere are hoping to offer new legal protection for top executives following a 2022 change in Delaware’s corporation law.
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Articles
Trump’s halt of US law banning business bribes abroad raises specter of a ‘Wild West’ of dealmaking
The Foreign Corrupt Practices Act of 1977, or FCPA, prohibits people or companies operating in the U.S. from giving money or gifts to foreign officials to win or retain deals in those countries. The law doesn’t require that the bribe is actually paid, but only offered.
FTC sues largest wine and spirits distributor, saying it discriminates against smaller stores
The Federal Trade Commission sued the largest U.S. distributor of wine and spirits on Thursday, saying it is illegally discriminating against small and independent businesses.
FTC adopts rule to make it easier for consumers to cancel unwanted subscriptions
The Federal Trade Commission adopted a final rule Wednesday that will require businesses to make it easy for consumers to cancel unwanted subscriptions and memberships.
IndyBar: Term Sheets and Equity Compensation for Early-Stage Companies
Two essential considerations for helping facilitate growth in early stage companies are securing capital and incentivizing current and future employees by offering competitive equity compensation plans.
Federal Trade Commission warns franchisors against using deceptive practices on franchisees
The Federal Trade Commission is warning franchisors to avoid “unfair and deceptive practices” against franchisees in an effort to ensure the franchise business model is a ladder of opportunity for honest small business owners.
Sugar Factory faces eviction at Circle Centre after allegedly failing to pay $300,000-plus in rent
The landlord for Circle Centre Mall has filed a lawsuit to evict Sugar Factory, alleging that the restaurant has defaulted on its rent.
IndyBar: Corporate Transparency Act: Understanding the New Reporting Requirements
New regulations under the Corporate Transparency Act require reporting companies to disclose certain information related to their beneficial owners.
‘Forecast is a little bit cloudy’: Venture capital exits hit their lowest in 2023, but rebound could be coming
In 2023, attorneys saw venture capital exits at their lowest levels since the pandemic and 2008 market crash.
Taco Bell franchisee sues to prevent launch of Taco Bell Cantina downtown
The franchisee who operates a Taco Bell restaurant in Circle Centre Mall has filed suit against Taco Bell and a fellow franchisee in hopes of preventing the opening of Indiana’s first Taco Bell Cantina.
Donald Trump arrives in court for New York trial scrutinizing business practices
Former President Donald Trump showed up on Monday for a trial in a lawsuit that could cost him control of Trump Tower and other prized properties, after vowing to defend his reputation in a case he calls “a sham.”
‘Cautiously optimistic’: Attorneys say inflation causing banks, clients to ‘sharpen pencils,’ but projects, investments moving ahead
Between interest rates, labor shortages, supply chain issues, the ongoing war in Ukraine and the aftereffects of COVID-19, debtors and creditors are facing some uncertainties, attorneys say.
Pier 48 keeps serving as legal wrangling continues
Pier 48 Fish House & Oyster Bar hadn’t even been open a year when business disputes among the downtown restaurant’s owners began spilling into the legal system in August 2020, with the various partners slinging lawsuits and accusations back and forth.
SCOTUS takes 8 new cases, 1 about a religious mailman
The Supreme Court on Friday agreed to consider what employers must do to accommodate religious employees, among eight new cases it added.
Proposal could ax business personal property tax for thousands
A House lawmaker is reviving an effort to make changes to the business personal property tax that would offer a bit of a windfall to small-business owners while reducing local government revenue.
CLE highlights benefits of commercial courts
At the conclusion of the three-hour CLE, presenting judges and attorneys came to similar conclusions regarding the Indiana Commercial Courts: They’ve improved efficiency and lowered costs, but more lawyers and businesses should take advantage of them.
COA: Former pet company exec had no ownership interest
The former president of a company that manufactured animal and pet products has failed to convince the Court of Appeals of Indiana that along with being an executive at the company, he also held an ownership stake.
Device firm embroiled in lawsuit filed by investors
In a lawsuit filed last month in Marion Superior Court, investors of VoCare accused top officers and board members of self-dealing, gross mismanagement and fraudulent behavior that has put the privately held company in “imminent danger” of insolvency.
Deadline tonight for 2022 Corporate Counsel Guide submissions
Today is the final day to submit company information for the 2022 Indiana Lawyer Corporate Counsel Guide.
Split 7th Circuit allows RV worker’s age discrimination claim to continue
A former Forest River employee will get a second chance to make his claim that the recreational vehicle maker constructively discharged him by refusing to address age-based harassment after a split 7th Circuit Court of Appeals revived the case and sent it back to the Northern Indiana District Court. However, one judge dissented, asserting, “there was not enough ‘constructive’ in the plaintiff’s constructive discharge claim.”