The IRS has fundamentally transformed how it administers penalty relief for compliant taxpayers, replacing the decades-old First Time Abate program with an automatic system that eliminates the need for taxpayers to request relief they're entitled to receive.

Is it the egos? The profits? The risk? The stress? The often poorly-done contracts? Some combination of all of the above? Hard to say, but real estate owners...

A major theme of this Blog has always been ongoing legislative, regulatory and market initiatives to reform capital markets by targeting unreasonable or outdated impediments...

Put on your Member B hat in the following not-so-hypothetical fact pattern...

New York law generally does not favor non-compete agreements, viewing them as unreasonable restraint of trade.

The Wall Street Journal recently reported that xAI, the artificial intelligence startup founded by Elon Musk, completed a funding round of $5 billion at a pre-money valuation of $45 billion ($50 billion post-money).

On February 14, 2025, I will be speaking at the Suffolk Academy of Law's annual Elder Law Update, addressing current developments in artificial intelligence ("AI")...

California lawyer and publisher of The LLC Jungle blog, Kevin Brodehl, recently posted about an interesting decision earlier this month by a California intermediate appellate court in a case called Meads v Driggers.

Legal missteps, misconceived strategies, and big losses provide the inspiration we need to keep informing and entertaining ourselves...

This edition of Summer Shorts examines three recent New York business divorce decisions: whether the Dead Man's Statute bars an executor's reliance on a decedent's verified dissolution petition, the dismissal of a derivative claim despite strong liability showing due to inadequate damages proof, and an unsuccessful attempt to impose fiduciary duties on non-managing LLC members.

When employees leave a startup, they typically have just 90 days to exercise their vested stock options or lose them forever—a deadline that can force departing team members to forfeit equity they genuinely earned if they cannot afford the exercise price and tax bill. Some high-profile companies have responded by extending this window to seven or even ten years, but does this employee-friendly gesture create unintended consequences for cap tables, tax treatment, and the employees who stay?

It's been many years since our last pop quiz for all you business divorce aficionados. Time for another. See how many you get right before you read the answers...

Members of the baby-boomer gener­ation who have reached or passed retirement age continue to divest from their closely-held businesses as part of an overall wealth planning strategy.

Accountants are professionals. They carry malpractice insurance. They are potential deep pockets. For these reasons, accountants sometimes find themselves defending against liability claims...

Should New York courts treat shareholder oppression in closely held corporations as a remediable wrong rather than solely as grounds for dissolution?

Can an LLC operating agreement strip a minority member of the right to sue derivatively—simply by requiring majority approval before anyone commences litigation “involving the Company”?...

Welcome to the 13th annual edition of Summer Shorts. This year's edition features brief commentary on five recent decisions by New York courts in a variety of business divorce cases...

In a recent decision, the Court of Chancery of the State of Delaware addressed a dispute at a private Delaware corporation concerning the removal of two officers by the board...

In a typical bull market, private equity sponsors exit out of portfolio assets through IPOs, strategic sales and sponsor-to-sponsor buyouts.

Typically, a court will invoke the mootness doctrine when circumstances change in a way that prevents the court from rendering a decision that effectively resolves an actual controversy.