Update on Bill Actions April 16, 2025. Final update. The Indiana Governor signed House Enrolled Act 1593, which will take effect July 1, 2025. Watch for another article from us explaining what business lawyers and business owners need to know or do, now that HEA 1593 is law. April 3,…
Indemnification clauses are essential elements of business contracts that allow the parties to allocate responsibility for specific losses or claims. For Indiana businesses, understanding how indemnity works under Indiana law is vital for managing risks and reducing liability exposure. This article explores key indemnification terms and practical tips for analyzing…
Buying a small business in Indiana is an exciting venture that can set you on the path to success. One critical decision stands between you and your dream: Should you buy the company itself or just its assets? Let’s explore these two approaches to help you navigate this important choice.…
Update on Bill Actions: This bill was introduced on January 21 and on first reading was assigned to the Committee on Employment, Labor, and Pensions. The deadline for the House to pass the bill and send it to the Senate passed with no further action. Therefore, this bill will not…
What’s in a name? That which we call a rose By any other name would smell as sweet. William Shakespeare, Romeo and Juliet, Act II, Scene II Shakespeare may have been right about flowers, but about companies…not so much. Choosing the right name for your limited liability company (LLC) can…
We have written previously about the effects that ongoing litigation in Texas Top Cop Shop, Inc. v. Garland, has had on the reporting requirements established by the Corporate Transparency Act. For more information on the CTA and Beneficial Ownership Information (BOI) reporting requirements check out this post. For other blogs…
As we discussed in our prior update, a federal court in Texas has issued a preliminary injunction against the Corporate Transparency Act (CTA) reporting requirement, the Beneficial Ownership Information Report (BOIR). (You may recall that the CTA requires companies created before 2024 to file BOIRs before January 1, 2025; new…
The Corporate Transparency Act (CTA) requires most small business corporations and limited liability companies to file Beneficial Ownership Information Reports (BOI reports or BOIRs) with the Financial Crimes Enforcement Network (FinCEN), a part of the United States Department of Treasury. The purpose of the reports is to give law enforcement…
Determining the value of a small business is a critical step for various purposes, including selling the business, merging with another company, or resolving shareholder disputes. Business valuation involves assessing the economic value of a company, and several methods can be used to achieve this. Business valuation is both an…
You may have heard of a new reporting requirement that took effect on January 1, 2024, under the federal Corporate Transparency Act (or CTA). The report is called a Business Ownership Information Report (or BOIR). Most limited liability companies (LLCs), corporations, and other types of business entities are now required…