Independent contractor or employee classification? The U.S. Department of Labor announced a final rule, starting March 11, 2024, revising the regulation on how to classify an employee or independent contractor under the Fair Labor Standards Act (FLSA). The Department of Labor felt that the 2021 Independent Contractor Rule increased the probability of misclassification. The new rule revises the previous conditions for determining the employee and independent contractor classification. The purpose of the revision is to help ensure that employees are compensated fairly and employers that f ..read more

  Every business transaction is different. What should not differ is the approach to completing a business transaction, especially the acquisition or sale of a business. Legal due diligence gives both buyer and seller the opportunity to evaluate the possibility of legal risk, financial risk, lawsuits, etc. before completing a sale. Both parties would be wise to conduct this examination so they can make an informed decision. In this blog, we will focus on why you should want to conduct this type of analysis and what information to gather. The purpose of legal due diligence is straightforwa ..read more

  You’ve probably heard of them before but you’re not sure if your company needs a DUNS or UEI number. The Data Universal Numbering System (DUNS) number is a 9-digit number used to identify individual business entities, assigned by Dun and Bradstreet, Inc. (D&B). The Unique Entity Identifier (UEI) is a non-proprietary identifier provided by the System for Award Management (SAM.gov). What are these numbers and does your company need them? The DUNS numbers are considered proprietary information protected by trademark. D&B can provide access to these numbers and control their use, pr ..read more

  Nevada requires foreign corporations to publish annual statements every year the corporation is doing business in the state. This statement must be published before the end of March, for each calendar year. The penalty for failing to publish an annual statement can include a fine of $100 per month, for the duration a statement remains unpublished. If you are a foreign corporation operating in Nevada, you’ll need to make sure that you are meeting the requirements for this annual publication. This requirement only applies to foreign corporations. If you are an LLC or a partnership, and no ..read more

  Non-disclosure agreements, also known as NDAs, are versatile contracts that can be used by any business during any period of its lifecycle. It is essentially a contract that creates a classified relationship between a person or entity who has restricted info and a person or entity who will gain access to that information. If your business has any proprietary information, contact a business lawyer today to discuss how an NDA may help.  The post Non-disclosure Agreement (NDA) first appeared on Leah Martin Law ..read more

  Protecting your intellectual property should be one of your top priorities when starting a business. It provides your company with security and a competitive advantage. We’ve gone over a few intellectual property matters to consider as a new business owner in a previous blog “What New Business Owners Should Know About Intellectual Property.” In this blog we are going to focus on trademarking. There are state, federal, and international trademarks to consider and knowing the differences will help you get started. We also have previous blog on “When to Register an Arizona Trademark” and ..read more

  A company may pay employees and independent contractors alike for labor, but an independent contractor is self-employed and not subject to the control or supervision of a company that hires them. Independent contractors may agree to work for multiple people or companies if it does not breach any contracts with other clients. They typically agree to specific terms, and work for a certain fee, delivering agreed upon results according to their own resources or procedures. However, independent contractors, also known as 1099 employees, have more vulnerabilities and liabilities than an emplo ..read more

  Congratulations on securing your State License from the Secretary of State! Depending on the operation of your business, you may also be required to apply for a local city or county license. We’ve covered this briefly in our previous blog “Best Practice Checklist” and more in depth for regulated licensing in a separate blog “Privilege Licensing in Nevada” In this video go over local city and county licensing in more detail. If you’re unsure if your business needs a local license, contact us today! The post Local City and County Licensing first appeared on Leah Martin Law ..read more

  Many businesses use “Doing Business As” or DBAs for their company. This is also referred to as a “Fictitious Firm Name” or “Trade Name” depending on your state. From large corporations to small boutique shops, businesses use DBAs to operate under a different name other than the company’s legal name. There are many reasons for this, sometimes it is for marketing and branding, sometimes it is for operating different lines of businesses, and other times it is just to drop the suffix “LLC” or “Inc.” when using the name of a company. In Las Vegas, you will have to register your DBA in Clark ..read more

  Starting a nonprofit is a great way to help a community. Because a nonprofit organization’s purpose is to assist the public, they can be granted tax-exempt status by the IRS. This type of classification must be requested prior to the nonprofit operating with a tax-exempt status. The most well-known IRS tax-exempt classification is a 501(c)(3) which is formed and operated solely for religious, charitable, scientific, testing for public safety, literary, educational, or other specified purposes that meet certain IRS requirements. Other common tax-exempt classifications include: • 501(c)(5 ..read more