Frequently Asked Questions - Corporate Transparency Act and Beneficial Owner Reports (Updated December 2023) Please note: this is general information about the Corporate Transparency Act and the Beneficial Owner Reports, and should not in any way be taken as legal advice. Always consult your attorney before...
Should you elect “Professional” status when you form an LLC or a Corporation? Electing “Professional” status when you form an LLC or corporation creates either a Professional Limited Liability Company (PLLC) or Professional Corporation (PC). PLLC’s and PC’s are reserved, and sometimes required, for businesses that...
Frequently Asked Questions - Registered Agent/Clerk and Annual Reports (Updated January 2024) Please note: this is general information about various types of Maine business organizations. Before taking any particular action based on this document, please discuss with your Opticliff Law attorney to ensure that the action...
Are you the proud owner of an LLC? Congratulations! But, be mindful that there is no such thing as a "set it and forget it" policy for you LLC. Think of your company as an adopted 18 year-old. When you first meet this person, it is...
The latest referendum passed by Portland voters related to minimum wages and emergency wages has caused much confusion. [Updated 12/3/20] Here’s what we know: 1. The referendum’s language increases the City’s minimum wage in a tiered fashion starting 1/1/2022. 2. The referendum did not, however, specifically state on what...
I ran into a colleague the other day - we will call him Alonzo - and it was a beautiful early morning. We both found ourselves fortunate enough to be able to take a half hour and walk together, so we set off toward Portland’s...
Now is an excellent time to think about the areas in your business that need an overhaul or could use a minor refresh. Take a moment to step back and re-imagine the way you run your business holistically. While I agree that not every problem...
Maine in June 2019 significantly changed its laws governing noncompete agreements. The new rules will make it harder for employers to enforce these contracts, with a goal of allowing talent to switch jobs more freely and more often. In a noncompete, an employee agrees not to...
The NDA is possibly the most overrated type of legal document that companies will ever use, but still a critical tool to use when you need to. This article will answer the when do you need to? question. NDAs: The Basics Every company at some point will encounter...
As a boutique law firm, we are fortunate and grateful to be a go-to resource for so many people who seek to start a company and want “to do it right” (their words, not mine). In fact, I’m not sure there is a part of...