A non-competition agreement (or "non-compete") is a legal contract designed to prevent an employee from competing with their employer. Generally, non-compete agreements must be no broader than necessary to protect the employer's legitimate business interests. Restrictions included in such agreements must also be narrowly drawn with respect to duration, geography, and the type of competitive activities prohibited.
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Who's involved in litigation?
Despite litigation’s reputation of always occurring in a courtroom between lawyers arguing before a stone-faced judge, the origins of litigation actually begin with you: a valued client with the need to remedy an injustice. Other individuals involved in litigation will vary based on the size of the dispute, the type of litigation, the determined pathway to resolution, and the representation selected by the parties involved.
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Indianapolis, IN – August 5, 2022 – Gutwein Law, a full-service business law firm focused on helping innovative companies grow through high-level legal counsel, has added Jackie Gessner to its Indianapolis office. Jackie joins Gutwein Law from Barnes & Thornburg, a national business law firm, where she brings nearly a decade of experience working with human resource departments, business leaders, owners and managers on an array of workplace issues.
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Evansville, IN – July 8, 2022 – Gutwein Law, a full-service business law firm focused on helping innovative companies grow through high-level legal counsel, has added Spencer Tanner to its Evansville, IN office. He joins Gutwein Law from Stoll Keenon Ogden PLLC, a large regional law firm, where he brings years of experience practicing in the areas of general commercial litigation and bankruptcy/creditor's rights.
...Read More%20will%20require%20small%20businesses%20to%20file%20information%20about%20themselves%20and%20the%20individuals%20who%20formed,%20own,%20and%20control%20them%20with%20the%20United%20States%20Treasury%20Department.%20Failure%20to%20follow%20the%20CTA%20may%20result%20in%20civil%20and%20criminal%20liability%20for%20business%20owners,%20including%20civil%20fines%20of%20$500%20a%20day%20and%20criminal%20fines%20up%20to%20$250,000%20and%20up%20to%20five%20(5)%20years%20in%20prison.%20Congress%20enacted%20the%20CTA%20as%20part%20of%20the%20Anti-Money%20Laundering%20Act%20of%202020.%20On%20December%207,%202021,%20the%20United%20States%20Department%20of%20the%20Treasury’s%20Financial%20Crimes%20Enforcement%20Network%20(“FinCEN”)%20proposed%20regulations%20seeking%20to%20implement%20the%20“beneficial%20ownership%20information”%20requirement%20of%20the%20CTA.%20A%20key%20provision%20of%20the%20CTA%20requires%20certain%20business%20entities%20to%20disclose%20to%20FinCEN%20their%20“beneficial%20owners”%20and%20other%20identifying%20information.%20The%20CTA%20is%20designed%20to%20prevent%20individuals%20from%20abusing%20legal%20entities%20to%20conceal%20proceeds%20of%20corrupt%20criminal%20acts,%20including%20money%20laundering.%20A%20driving%20factor%20behind%20the%20proposed%20regulations%20is%20for%20the%20United%20States%20to%20be%20aligned%20with%20international%20anti-money%20laundering%20standards.)
As of now, beginning on January 1, 2024, a new United States regulatory requirement is scheduled to take effect, impacting millions of new and existing businesses. The Corporate Transparency Act (“CTA”) will require small businesses to file information about themselves and the individuals who formed, own, and control them with the United States Treasury Department. Failure to follow the CTA may result in civil and criminal liability for business owners, including civil fines of $500 a day and criminal fines up to $250,000 and up to five (5) years in prison.
Congress enacted the CTA as part of the Anti-Money Laundering Act of 2020. On December 7, 2021, the United States Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) proposed regulations seeking to implement the “beneficial ownership information” requirement of the CTA. A key provision of the CTA requires certain business entities to disclose to FinCEN their “beneficial owners” and other identifying information. The CTA is designed to prevent individuals from abusing legal entities to conceal proceeds of corrupt criminal acts, including money laundering. A driving factor behind the proposed regulations is for the United States to be aligned with international anti-money laundering standards.
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