On Saturday, February 28, 2015, Governor Charlie Baker issued a press release stating that the 2016 fiscal year budget will include a tax amnesty program.[1] Unlike the tax amnesty program for the 2015 fiscal year—which was limited to business and … Read more »
The Innovator’s Counsel: What Are Fiduciary Duties In a Closely Held Corporation?
Shareholders in a closely held corporation (e.g. a corporation whose stock is not freely traded and is held by only a few shareholders) owe fiduciary obligations to one another. The extent and parameters of these obligations is the subject of … Read more »
The Innovator’s Counsel: LLC Basics – “Limited Liability,” What is it Good For?
It should come as no surprise that just because your business is registered as an LLC, you are not completely shielded from potential liability. Indeed, LLC stands for limited liability companies, reflecting the notion that perhaps some liability exposure remains. … Read more »
The Innovator’s Counsel: LLC Basics – Rights and Duties of Members
For purposes of this post, we want to talk about the rights and duties of LLC “members” without regard to whether an individual qualifies as a “member” – more on that another day.
The rights and duties of LLC members … Read more »
The Massachusetts Physician License Application: 9 Traps to Avoid
Massachusetts has a reputation for having one of the most challenging physician license applications in the U.S. The Massachusetts Board of Registration in Medicine (“MA Medical Board”) is strict, exacting and concerned about the slightest flaw or inconsistency on your … Read more »
The Innovator’s Counsel: Financial Due Diligence – Let’s Buy a Company!
The primary objective of financial due diligence is to develop a comprehensive and focused review to assist a potential buyer in the uation of a target business (“Target), usually in connection with a transaction.
When you’re considering buying a company, … Read more »
The Innovator’s Counsel: A Bird’s Eye View of the Massachusetts LLC Statute
A Limited Liability Company (“LLC”) is an unincorporated legal entity organized under a state limited liability company law that offers limited liability to all of its owners, who are called “members.” Massachusetts has codified its LLC laws as Mass. Gen. … Read more »
The Innovator’s Counsel: So You Want to Form an LLC? Here Are the Basics in Massachusetts
There are some unique LLC (Limited Liability Companies) formation requirements in Massachusetts. Applicants must register with the Corporations Division of the Secretary of the Commonwealth (“Corporations Division” or “Secretary’s Office”), which includes the filing of necessary forms, paying application fees … Read more »
The Innovator’s Counsel: Second Edition
If you are at the point where you have either started a business or have decided to start a business, one of the many questions that are probably running through your mind is whether to incorporate. For purposes of this … Read more »
The Innovator’s Counsel
Welcome all to the first installment of the Innovator’s Counsel! This blog will, in the coming weeks and months, devote itself to issues of interest to innovators and entrepreneurs. Our goal is to make this blog a must read for … Read more »