Blog — Family Business

Tuesday, June 23, 2015

Be Careful - A Letter of Intent Could Be Binding

Business people who agreed on the general terms of a transaction often sign a "Letter of Intent" that lays out these terms in writing. The idea is to make sure that everyone is on the same page while a formal contract is being drafted. But what happens if you sign a Letter of Intent with someone and then they walk away from the deal? Is that okay? In general, the answer is “yes” – a Letter of Intent isn't a binding contract; it is merely an...

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Tuesday, June 23, 2015

Employment Law Handbook

The U.S. Department of Labor publishes a guidebook to provide businesses with general information on the laws and regulations that the Department enforces. The guidebook describes the statutes most commonly applicable to businesses and explains how to obtain assistance from the Department for complying with them.

The Employment Law Guide: Laws, Regulations and Technical Assistance Services can be accessed at...

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Tuesday, June 23, 2015

Federal Advertising Guidelines for Businesses

 The Federal Trade Commission Act prohibits advertising that is untruthful, deceptive or unfair, and it requires advertisers to have evidence to back up their claims. There are also other federal laws applicable to advertisements for specific types of products and state laws that apply to ads running in particular states. An advertisement is unfair if it causes "consumer injury." The Federal Trade Commission (FTC) uses a three-part test to...

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Tuesday, June 23, 2015

Bad Checks. What to Do About Them

Why did the check bounce? Most often, it is because of a mistake by your customer. On rare occasions, it is the result of the bank's mistake. With a few simple steps, you can minimize the incidents and impact of NSF (non-sufficient funds) checks and associated "bad check" fees from your bank.

The following information should be considered as you look at your company's policies regarding the receipt and cashing of checks:

  • Deposit...
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Tuesday, June 23, 2015

Employees' Use of Cloud Storage

Your Business May Need an Explicit Privacy Policy

Employers are discovering that cloud storage services are a great way to access work-related data at home and on the road, and to collaborate with co-workers, especially those who work remotely.

Unfortunately, they are also a great way to make their confidential data insecure – which is why you may need a policy covering their use.

Cloud services allow users to log...

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