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Defend Trade Secrets Act of 2016: Does It Impact You?

The US Congress has created a new federal law, the Defend Trade Secrets Act of 2016 (“DTSA”), that allows parties to use the federal courts to protect their trade secrets where trade secret(s) have been misappropriated if the trade secret is related to a product or service used in, or intended for use in, interstate or foreign commerce.

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Department of Labor Changes Overtime Rules – It’s Time to Start Tracking Time!

The US Department of Labor (“DOL”) recently revamped regulations governing the exemption of executive, administrative and professional (“EAP”) employees from the minimum wage and overtime pay protections under the Fair Labor Standards Act. Effective December 1, 2016, in order to be exempt from overtime pay (“OT”) for working over 40 hours in a workweek, EAP employees must earn at least $913 per week or $47,476 annually.

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Be Careful with Employee Terminations When Selling Business

When it comes time to sell your business, there are hundreds of different things to think about: Gathering tax forms, putting together financial statements, minimizing the company’s reliance on you, streamline and document processes as much as possible, etc. One of the things that is often far from the top of the list is considering what to do with the current workforce.

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PetSmart Approves Sale of Business to BC Partners

If you’ve ever had a pet in your life, then you are undoubtedly quite familiar with PetSmart, the giant national pet store chain, where millions of Americans go every year to shop for their pets.

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Foreclosure by Market Sale – Connecticut’s New Foreclosure Option

Connecticut has passed a new law, An Act Concerning an Optional Method of Foreclosure ( the ”Act”), effective as of January 1, 2015, providing another option in foreclosure cases, in addition to the traditional standard remedies of strict foreclosure and foreclosure by sale. The new remedy is Foreclosure By Market Sale.

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$800,000 Will Buy You a Whole Town

If you have $800,000 just lying around, you could find yourself the owner of a whole town. That’s right, a town. If you’ve never heard of Johnsonville, Connecticut, don’t be too surprised. It has essentially been a ghost town since 1994, but before that, it had been everything from a movie set, to a textile mill, and even a theme park.

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How Do I Know When to Sell My Business?

In this blog, we have talked about many of the different aspects around selling a business, such as how to get started, good first steps to take, where to start looking for buyers, etc.

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Why Buy a Business Instead of Starting My Own?

For most individuals, the dream of forming and running a successful business from the ground up is a life-long dream. However, just like many dreams, it can be immensely difficult, even impossible, to accomplish.

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Selling My Business: How Focused Should I Be on Profitability?

When you’ve made the decision to sell your business, there are quite a few things that need to be done in order to maximize your selling price. Most of them revolve around making the decision as easy as possible for your prospective buyer, and chief among those is making your business look as profitable as possible.

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Attracting Buyers, Then Kicking Them to the Curb?

There are many ways to sell a business. You can more-or-less transfer ownership to a close friend/family member, you can accept the first offer you receive, you can keep it on the market for years while fielding offers and continuing to grow, or any number of other tactics.

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