Use Defined Terms to Improve Readability

Let’s start with the following clause setting out the basic indemnification rights and duties in a contract for the sale and purchase of equipment. It consists of one sentence, long and difficult to follow, but typical as indemnification clauses go.

The post Advanced Indemnification Topics for Indiana Attorneys and Business Owners appeared first on Indiana Business Law Blog.

This article explores key indemnification terms and practical tips for analyzing clauses.  By understanding these provisions, business owners can understand their rights, duties, and risks.

Let’s start with some definitions and then examine how the defined terms fit into an example clause.

The post Indemnification Clauses: Insights for Indiana Business Owners appeared first on Indiana Business Law Blog.

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. For simplicity, let’s assume the business is organized as an Indiana limited liability company (LLC).

Stock Purchase vs. Asset Purchase: The Basics 

If you decide to buy the company itself, you’ll be purchasing the interest in the LLC—often referred to as a “stock sale.” While LLCs don’t technically have stock, the term persists as a carryover from the days when corporations, which do have stock, dominated the business landscape.  Another name that is becoming more common is “equity sale,” which covers stock in a corporation, interest in an LLC, and any other form of equity.

The post Buying a Small Business in Indiana: Stock Purchase or Asset Purchase?  appeared first on Indiana Business Law Blog.

What is the purpose of the CTA?

The purpose of the Corporate Transparency Act, passed by Congress in 2021 on a bipartisan basis, is to make it harder for bad actors to hide or benefit from their ill-gotten gains through shell companies or other opaque ownership structures. The BOIR provides law enforcement with information that may not otherwise be readily available to them.

The post New Federal Reporting Requirement for Business Entities appeared first on Indiana Business Law Blog.

On March 18, Congress passed, and the President signed on the same day, the Families First Coronavirus Response Act (FFCRA) that, among other things, requires employers to give employees paid time off for certain absences that result from the COVID-19 coronavirus pandemic. This article summarizes the obligations of employers and the rights of employees under the FFCRA. This article is only a summary and does not address all the details and nuances of the statute. In addition, because the FFCRA was enacted and signed so quickly, there may be questions without obvious answers. You may contact our office to inquire about obtaining advice regarding your specific situation as either an employee or employer.

What Employers Are Covered?

The post Small Businesses Must Pay Employees for Coronavirus Absence appeared first on Indiana Business Law Blog.