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Both New York State and New York City have recently passed a series of laws that significantly increased the protections against sexual harassment in the workplace. These laws outline additional and specific requirements—including the adoption of anti-sexual harassment policies and training—that employers must comply with over the next ...

The ability to attract, retain, and reward a superior workforce is fundamental to every organization’s long-term growth. One way to achieve it is to offer stock options to employees, giving them a stake in the company’s value as part of their compensation package. In general, there are two forms of stock options: nonqualified stock opti...

Before executing a commercial property lease or sales contract, the parties may prepare a letter of intent or an agreement in principle. The letter of intent or a similar document (the “LOIs”) generally signals that the parties have agreed on the outline of a deal, but not on all of its provisions or details. While LOIs can serve differ...

It’s tempting to imagine the computer systems as airtight vaults, impenetrable and immune to cyberattacks. But this would be a risky move. In reality, IT infrastructure is more like a porous sponge with gaping holes where data can leak when things don’t go according to plan: a staff member might lose a laptop, a system might experience ...

All companies hit bumps along the road to growth, bumps that usually have less to do with external factors like the industry and marketplace and much more to do with the natural way organizations evolve. The most successful organizations and enterprises plan ahead. They have the foresight, and they proactively make the proper organizational changes...

Over the next 15 years, the youngest of America’s Baby Boomers will turn 65, and waves of small business owners across the country will get ready to cash out. Sales of Boomer-owned small businesses and wholesalers are expected to reach an apex by the end of the decade. And finding time to plan for the future can be hard—especially for w...

Under 35s are creating more companies, with higher headcount and greater profit ambitions. They show strong interest in the new economy, but not exclusively, and prefer diversification across their investments. Dubbed as the “Millennipreneurs,’ these are business starters from ‘Generation Y,’ born between 1980 and 1995, also...

Behind the scenes of the world’s leading industrial and manufacturing companies, a profound digital transformation is now underway. While terms like the industrial internet or digital factory are also used to describe the journey industrial companies are taking towards a complex value chain transformation, the term ‘Industry 4.0’ ...

Marie Tillman was thrust into the spotlight on April 22, 2004, when her husband, former Arizona Cardinals safety Pat Tillman, was killed in a barrage of friendly fire in Afghanistan. Only a week after Pat’s death, as donations from strangers poured in to support the Tillmans, family and friends decided to establish The Pat Tillman Foundation ...

A family constitution—the rule book that defines the vision and principles of a family’s wealth strategy and acts as an operating model—should be as unique as the family itself. The key to developing an appropriate family constitution is not in the ultimate output, but in the collaborative process of developing it. In working together, families oft...

Recognize that a cyber attack will occur at some point during a business lifecycle. Whether it is through web attacks, email phishing, exploit kits, point of sale, keystroke logging, or ransomware, the bad actors have figured out how to defeat your latest defense against a cyber attack. They know what will make you click on the link that will give ...

Entrepreneurs are risk takers by nature, leveraging their insight, hard work, and capital to create successful companies. Unfortunately, many entrepreneurs who become business owners don’t think about specific kinds of risk until they’ve experienced a threat first hand. Yet planning ahead is critical to mitigate many different kinds of ...

When you think about family dynamics, very often there’s a lack of that home team concept and feeling of unity. Establishing that home team within your family early on offers the greatest opportunity for generational success and healthy family governance. The need to prepare the family for the future is particularly important for families tha...

For years, owners of family-controlled companies have taken advantage of applicable valuation discounts to advance their objectives in transferring wealth and company ownership to future generations in a tax efficient manner. On August 2, the Treasury Department issued proposed regulations under Internal Revenue Code Section 2704 to curb the use of...

The federal government proposed sweeping new tax rules earlier this month that would dramatically affect family businesses, investment partnerships and other entities. These rules, which could become final and binding as early as the end of 2016, would artificially inflate the value of interests in family entities for gift and estate tax purposes. ...