Get Your Annual Business Physical Now to Ensure Good Corporate Health

Just like your personal health, your business requires regular checkups to ensure it’s operating in optimal condition and facing minimal risks.

Consider the following essential questions:

  • Have you held the required annual corporate meeting or prepared an annual resolution?
  • Have you updated your Employee Handbook?
    • Certain provisions can mitigate business liability.
  • Do you have an operating or stockholder agreement?
    • Has it been reviewed/updated for recent changes in law?
  • Does your business use Employee Agreements?
    • When were they last reviewed?
    • There have been federal/state law changes concerning non-competes & other restrictive covenants.
  • When was the last time your client contracts were reviewed?

Schedule your annual business physical today by reaching out to your local business law attorney, Rob Garagiola at RGaragiola@Compass-Law.com.

 

Ensure the Longevity of Your Business –Read More

Time To Revisit Employee Handbooks, Policies, & Agreements

There has recently been a slew of changes and new trends in employment law that require all businesses to revisit their employee handbooks, policies, and agreements.

  • Paid Family Medical Leave is coming to Maryland. The state is expected to announce employer/employee contribution rates to the system this October and contributions will be required 1-year later with benefits set to begin on January 1, 2026.
  • The Pregnant Workers Fairness Act, a federal law, took effect less than 2 months ago and requires certain businesses to provide “reasonable accommodations” to a worker’s known limitations related to pregnancy, childbirth, or related medial conditions.
  • Federal Government and States are Moving to Ban Non-Competes. The Federal Trade Commission has proposed regulations curtailing non-competes and the National Labor Relations Board published a memo taking the position that non-compete agreements violate federal law in certain circumstances. In addition, many states, including Maryland and DC, have taken recent actions limiting non-compete agreements.

With these and other changes in employment law, and to limit potential liability, now is the time to revise your policies.

Compass Law Partners’ Rob Garagiola (RGaragiola@Compass-Law.com) can help you navigate these policy changes and update your employee handbooks and agreements.

 

http://mailchi.mp/compassadvocacy/compass-law-navigator-august-2023-9085056

New Laws Require Business Tune Up

New laws in Maryland will:

  • Accelerate minimum wage increases to $15/hour;
  • Establish employer/employee contributions to Maryland’s soon-to-be implemented Paid Family Medical Leave Act; and
  • Prohibit non-compete clauses in certain circumstances.

In addition, the Federal Trade Commission is proposing regulations to ban non-compete clauses.

The bottom line: It’s critically important for all businesses to review their business and employment policies, including employee handbooks and employment agreements.

Business owners – even single-member owners – should also review their operating/buy-sell agreements at least every 3-5 years.

Compass Law can help update your employment and business agreements to meet your needs as laws continue to change. Reach out now for a consultation.

 

May 2023 Law Navigator

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