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What is Your Time Worth? Eight Reasons Why Do-It-Yourself Business Formation Can Be a Bad Idea

Byadmin

Many online-only businesses offer do-it-yourself entity formation, employment and purchase contracts and wills, just to name a few products.  Although  do-it-yourself projects often appear simple at first blush, halfway through you may come to realize you have invested more time and effort than you originally budgeted for the whole project.  Even after getting to the…

Investor Pitfalls: Should I Invest in a Privately Held Company?

Byadmin

Investor Pitfalls: Should I Invest in a Privately Held Company? Summary: Do not invest in companies that do not follow simple rules designed to protect investors. Recently a friend confided in me that she and her husband had given approximately $30,000 to a man who had a great business idea. He was enthusiastic, well-spoken, and…

Proposed Rule From the FTC Would Ban Non-Compete Agreements in Most Circumstances
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Proposed Rule From the FTC Would Ban Non-Compete Agreements in Most Circumstances

Byadmin

Currently, the general test for determining whether a non-compete agreement is enforceable depends on several factors, including (1) whether the agreement protects a legitimate business interest; (2) whether the time limitation is reasonable; (3) whether the geographic limitation is reasonable; and (4) whether the worker receives some tangible benefit for signing the agreement. In Maine,…

Navigating Potential Changes to Estate Plans: Insights for Maine Business Owners
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Navigating Potential Changes to Estate Plans: Insights for Maine Business Owners

Bymjohnson

There’s an important development on the horizon that could affect your estate plans in 2024 and beyond. We’re talking about a potential shift in how life insurance policies designed for repurchasing company stock are interpreted, and it’s worth your attention. Imagine this scenario: You’ve arranged a life insurance policy specifically aimed at facilitating the transfer…

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Is That Pot Shop Legal: Maine Municipalities Wrestle with Whether to “Opt in” to Marijuana

Byadmin

As a municipal attorney in Maine, I can never predict what new legal challenge one of our many municipal clients will call about next. This is one of my favorite parts about my job. I say hardly because there is one topic that has come up very frequently over the past several months—marijuana. Given the…