987,375 research outputs found
Sorting Through the Soup: How do LLCs, LLPs and LLLPs Fit Withing the Regulations and Legal Doctrines?
In a children\u27 book published in 1946, Ben Ross Berenberg described an imaginary amalgam called the churkendoose - part chicken, turkey, duck and goose. In 1977, Wyoming invented a business law churkendoose: the limited liability company - part corporation, part general partnership, part limited partnership. That churkendoose has revolutionized the law of business organizations, becoming the vehicle of choice for tens of thousands of ventures every month and causing the IRS to radically overhaul its approach to taxing business entities. This article explores how preexisting regulatory and common law apply to LLCs and the related organizations known as limited liability partnerships (LLPs) and limited liability limited partnerships (LLLPs)
Good for Business? Connecticut's Paid Sick Leave Law
On July 1, 2011, Connecticut became the first state in the nation to pass legislation requiring many employers to allow workers to earn paid sick leave; the law took effect six monthslater. It brought paid sick leave to large numbers of part-time workers in the state for the first time, especially in industries like hospitality and retail. The law also prohibits employersfrom penalizing covered workers who take paid sick leave, an important protection. The concerns articulated by many business associations that the law would impose heavy burdens on employers and invite worker abuse turn out to have been misplaced; instead the impact of the new law on business has been modest. One reason for this is that the coverage of the statute is limited, affecting only establishments with 50 or more workers and excluding manufacturing businesses as well as nationally chartered non-profit organizations. In short, this path-breaking legislation has brought paid sick leave to tens of thousands of Connecticut workers, with modest effects or none at all on the state's businesses.This report examines the experiences of Connecticut employers with the state's paid sick leave law. Between June and September 2013, a year and a half after the law went into effect, we conducted a survey of 251 Connecticut employers covered by the new law using a size stratified random sample. In addition, we conducted on-site interviews with managers, using a convenience sample of 15 covered organizations in the state, to assess the impact of the new law in more detail.The largest increases in paid sick leave coverage after the law went into effect were in health,education and social services; hospitality; and retail. Part-time workers, rarely covered before the law took effect, benefited disproportionately from its passage. Few employers reported abuse of the new law, and many noted positive benefits such as improved morale and reductions in the spread of illness in the workplace.Most employers reported a modest impact or no impact of the law on their costs or busines soperations, and they typically found that the administrative burden was minimal. Finally, a year and a half after its implementation, more than three-quarters of surveyed employers expressed support for the earned paid sick leave law
Delaware Dissolves the Glue of Capitalism: Exonerating from Claims of Incompetence Those Who Manage Other People\u27s Money
Delaware law is the leading source of non-federal law governing U.S. business organizations. Over the past 25 years that law has tilted further and further toward insulating individuals who manage business firms from any liability to the firms’ owners based on claims of misconduct. These developments have occurred both in corporate law and the law of unincorporated organizations.Although often described as consistent with market principles, these developments actually undercut the proper functioning of a market system. Effective competition among firms does not require a “dog eat dog” mentality within firms. Managerial responsibility is a prerequisite to healthy firms, which in turn are a prerequisite to a healthy market economy.This paper explores the decay in “personal responsibility” under the Delaware law of business organizations and argues that restoring confidence to market economies requires restoring some minimum level of accountability for those who manage other people’s mone
Delaware Dissolves the Glue of Capitalism: Exonerating from Claims of Incompetence Those Who Manage Other People\u27s Money
Delaware law is the leading source of non-federal law governing U.S. business organizations. Over the past 25 years that law has tilted further and further toward insulating individuals who manage business firms from any liability to the firms’ owners based on claims of misconduct. These developments have occurred both in corporate law and the law of unincorporated organizations.Although often described as consistent with market principles, these developments actually undercut the proper functioning of a market system. Effective competition among firms does not require a “dog eat dog” mentality within firms. Managerial responsibility is a prerequisite to healthy firms, which in turn are a prerequisite to a healthy market economy.This paper explores the decay in “personal responsibility” under the Delaware law of business organizations and argues that restoring confidence to market economies requires restoring some minimum level of accountability for those who manage other people’s mone
Symposium: Current Issues in Community Economic Development: Foreword: Entrepreneurship, Race, and the Current Environment for Community Economic Development
On March 30, 2007, the Western New England College School of Law and the School of Business jointly hosted the second annual academic conference on Current Issues in Community Economic Development, sponsored by the Western New England College Law and Business Center for Advancing Entrepreneurship. The Conference promotes the two primary goals of the Law and Business Center: (1) to provide technical legal and business assistance to entrepreneurs and (2) to sponsor educational and outreach events focused on entrepreneurship and economic development. The Law and Business Center is a unique resource in Western Massachusetts. The combination of legal and business expertise sets the Law and Business Center apart, allowing it to provide services that other support organizations are unable to deliver
The Legal Protection of Minority Shareholders Under Ethiopian Law: Comparative Analysis
Business organizations are important to operate business activities that demand the involvement of many persons. In these days, therefore, business organizations are getting momentum in every sector of the economy. Business can be run in different forms of business organizations, one of which is a company. This article is to show the deficiencies of legal protection of minority shareholders under Ethiopian company law compared with the England and German company laws. Since Ethiopia commercial law is under the process of revision, this article will have a paramount importance and can be used as input for amendment of commercial code of Ethiopia. Thus, we tried to analyze specifically, the legal protection of Ethiopian law offers for minority shareholders by comparative perspective. It includes the rights of minority shareholders; the substantive protection of minority shareholders such as the right to call general shareholders meeting, right to propose resolution, right to challenge decision of the company, right to appointment of independent audit, right to access information and voting rights. The article finally ends up with some concluding remarks and the deficiencies of Ethiopian minority shareholders protection, if any, and lessons to be learned from UK and Germany laws would be reflected as recommendation to the Ethiopian commercial code. Keywords: Minority share holders, Protection of Minority share holders, Company law. DOI: 10.7176/JLPG/86-03 Publication date:June 30th 201
Being Good Lawyers: A Relational Approach to Law Practice
In response to past generations of debates regarding whether law is a business or profession, we advance an alternative approach that rejects the dichotomies of business and profession, or hired gun and wise counselor. Instead, we propose a relational account of law practice. Unlike frameworks grounded in assumptions of atomistic individualism or communitarianism, a relational perspective recognizes that all actors, whether individuals or organizations, have separate identities yet are intrinsically inter-connected and cannot maximize their own good in isolation. Through the lens of relational self-interest, maximizing the good of the individual or business requires consideration of the good of the neighbor, the employee or customer, and of the public. Accordingly, relational lawyers advise and assist clients, colleagues, and themselves to take into account the well-being of others when contemplating and pursuing their own interests.
A relational approach to law practice does not require a choice between labeling law a business or a profession, and indeed is consistent with both perspectives. Lawyers can access relational perspectives from a wide range of understandings of the lawyer’s role, with the exception of the particular hired gun ideology that views lawyers as amoral mouthpieces for clients who act as Holmesian bad men and women aggressively pursuing their self-interest with no regard to others. The relational framework offers all lawyers, whether they see themselves as professionals or business persons, a framework for understanding that they can continue to serve as society’s civic teachers in their capacity as intermediaries between the people and the law, integrating relational self-interest into their representation of clients and their community service. By doing so, lawyers as professionals, individuals, and community members will more effectively represent clients, as well as enhance their contribution to the public good and to the quality of their own professional and private lives. They will also surmount the generation-long malaise resulting from the crisis of professionalism
DINAMIKA DAN IMPLEMENTASI HUKUM ORGANISASI PERUSAHAAN DALAM SISTEM HUKUM INDONESIA
The legal system in Indonesia explained that the act of commerce is the act of purchasing goods for resale. While the organization is a coordination unit comprising at least two people, has a function to achieve a certain goal or set of tools. the company is a unit of business organizations that produce goods and services to meet the needs of the community with the aim of the company is a unit of business organizations that produce goods and services to meet the needs of the community with the aim to obtain profit. The company is a business organization that has carried out business activities and continuous, uninterrupted and overt move out with the aim to get benefit. In the Code of Commercial Law mentioned that perbu-atan commerce on the organization of the company is the act of purchase does not include sales deeds, because sales is part of the aim of business. In practice, the legal system of Indonesia has set about permit the establishment and governance of enterprise organizations are legal entities such as limited liability, Firma, cooperatives, foundations, enterprises, and etc. This has been stipulated in the legislation, namely Law Number 3 of 1992 about the Registration Company and Law Number 8 of 1997 concerning Company Documents
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