Blog — Family Business

Saturday, August 14, 2010

At the end of July, a federal court in New York issued a decision that put a high price on "open-source" or "free" software. Companies are looking more and more closely at ways to cut expenses, and using open-source software is one way to take advantage of software licensing without purchasing software. Open-source software, however, does not fall outside the bounds of copyright law. Contrary to conventional wisdom, it is not in the public domain.
The software involved in the New York case is titled BusyBox. It is described as a series of small utility-type programs that are tailored for and embedded in various products, such as wireless routers, firewalls, modems, internet radios...

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Tuesday, July 20, 2010

Several weeks ago, I shared a poem written by Emily Perl Kingsley entitled, "Welcome to Holland." (click here to read the "Holland" Reflections blog post) The poem reflects Kingsley's experience of raising a child with a disability to help people who have not shared that unique experience to understand it and in some small way imagine how it would feel. A recent experience Based on the overwhelming response to my previous post and the poem, I thought it would be appropriate to share a recent experience I had with my son, Casey, who is autistic. Casey recently spent several days with me at...

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Sunday, July 4, 2010

Proposed "Carried Interest" Tax Purports to Soak Wall Street But Hits Family Businesses Proposed Carried Interest Tax Hits Beyond Wall StreetFor the time being, the Senate has again abandoned efforts to impose a "carried interest tax" on venture capitalists, investors, and managers of family businesses. The tax would have increased the 15% capital gains tax rate on certain investors' profits to the top income tax rate, which is scheduled to hit 39.6% on January 1st (H.R. 4213). The share of investors' profits is called "carried interest." It might appear at first glance...

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Sunday, June 13, 2010

We were doubly blessed in January, 1995 with twin boys. Both weighed in at 40 pounds. One was blond and one was dark-haired. There it was - our family complete - three boys under 2 1/2 years of age. Do you remember the poem, what are little boys made of? "Snails, tails and puppy dog tails." Our lives were busy with diapers, bottles, and watching in amazement how our world went from one to three. Casey PenningWhen our oldest son asked the very next week, after they were home from the hospital, "When can they go back?" I looked at him blurried from little sleep and...

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Monday, May 24, 2010

Business Succession Plan for moving beyond buy-sell agreements for the closely held businessA large portion of the businesses in the United States are closely held companies, and many of the closely held companies are family owned enterprises. The long term perpetuation of the family business is a common and laudable goal of most founders. Developing strategic and successful transitions to subsequent generations largely centers on who will control the company and whether the control will be concentrated in one family member or a small group of family members, or if the...

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