Good Company Summer 2016 Newsletter

Featured Articles
The Department of Labor Announces Final Rule on White Collar Exemptions
by Mark J. Ventola and James P. Reidy

Attorney Mark J. Ventola On May 17, 2016, the United States Department of Labor, after much anticipation, issued its Final Rule updating the Fair Labor Standards Act regulations governing the "white collar exemptions" for executive, administrative, and professional employees. This article is a summary of the Final Rule along with some comment on how it differs from the proposed regulations published earlier this year. [Contact Author]

Overview of the New Federal Trade Secrets Statute
by Christopher Cole

Attorney Chris Cole On May 11, 2016, President Barack Obama signed into law the Defend Trade Secrets Act of 2016 (DTSA), a rare moment of bipartisan action by the House and Senate. The DTSA essentially federalizes a body of law that has long been the province of the state courts - the protection of "trade secrets" against misappropriation or wrongful disclosure and use by others. The House Judiciary Committee chairman said that the legislation "will help American innovators protect their intellectual property from theft by foreign agents and by those engaging in economic espionage." Time will tell whether this high hope comes to fruition. [Contact Author]
[FULL STORY - June 11, 2016 issue of the New Hampshire Union Leader]

New Rules Extend Visas for STEM Graduates
by Nathan P. Warecki

Attorney Nathan P. Warecki Regulations often make businesses cringe, but not this one. A new rule will allow international students in STEM (Science, Technology, Engineering, Math) fields to be employed in the United States for a longer period of time once they graduate, a boon to employers in a field with fewer graduates and shortages of talent. [Contact Author]
[FULL STORY - May 26, 2016 issue of Business New Hampshire Magazine]

Tax Rules for Partnership Audits Are Changing
Nearly Every Partnership and LLC Agreement in the United States Will Have to Be Amended
by Peter T. Beach

Attorney Peter T. Beach The number of businesses in the United States that include at least one partnership (or limited liability company ("LLC") taxed as a partnership) in their ownership structure has exploded since LLCs became popular in the 1990s. It is safe to say, however, that very few of the owners of those businesses understand the way in which the IRS audits partnerships. And for the most part it is not necessary for them to know - the lawyers and accountants take care of such things. Except when the rules change so significantly, as they have here. This article is intended to give business owners a sense of the importance of dealing with the impact that the new rules will have on their partnership agreements. [Contact Author]

Want to be an Entrepreneur?
by Jocelyn R. Wiese

Attorney Jocelyn R. Wiese Millennials get a bad rap, often pegged as lazy, entitled and non-committal. However, millennials are an entrepreneurial generation, creating their own jobs when there were no jobs to be had. If your dream is to open a cupcake shop, start a dog walking business or commercialize the “next big thing,” know that there is more to starting a business than creating a Facebook page. In fact, before marketing too heavily, there are many legal considerations to keep in mind. [Contact Author]
[FULL STORY - May 5, 2016 issue of Business New Hampshire Magazine]

Blood from a Stone? Making Sure Your Judgment Is Worth More Than the Paper It Is Printed On
by Michael J. Lambert and David L. Hansen

Attorney Michael J. Lambert The decisions to commence and remain in a lawsuit trigger a number of legal and practical considerations including: the merits of your claims; the potential counterclaims that may eat into your recovery; and the unintended consequences that a lawsuit could have on a business relationship. These are only a few factors that a potential plaintiff must consider. [Contact Authors]

To Contract or Not to Contract?
Pros, Cons of Written Employment Contracts
by Brian J. Bouchard

Attorney Brian J. Bouchard Every day, millions of people go to work having never signed a formal employment agreement or contract. This is called at-will employment. Generally speaking, an at-will employee is not legally beholden to a company and can leave a company's employ at any time. Conversely, an at-will employee can also be terminated for any reason, with or without cause. This does not mean, however, that employers can do whatever they want when it comes to at-will employees. [Contact Author]
[FULL STORY - June 21, 2016 issue of the New Hampshire Union Leader]

New DOL Regulations May Have an Effect on Your Company's Retirement Plans
by Russell J. Stein

Russell J. Stein On April 6, 2016, the U.S. Department of Labor's (the "DOL") Employee Benefits Security Administration issued final regulations addressing conflicts of interest in the provision of retirement financial advice (the "Regulations"). The Regulations are intended to change the way certain financial advisers give advice to their clients. Businesses should take note of the new Regulations since it's quite possible they could increase their compliance obligations and costs in offering a retirement plan to its employees (such business, a "Plan Sponsor"). [Contact Author]

We Are Honored

We are honored to be selected as the 2016 Business of the Year for Business Services, by Business NH Magazine.

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