From Our Blog
The Federal Trade Commission New Non-Compete Rule in Effect
By: Frederick J. Steimling, Esq. July 2024 The Federal Trade Commission (FTC) proposed the Non-Compete Clause Rule on January 19, 2023, under sections 5 and 6(g) of the FTC Act. After a comprehensive review of empirical research and over 26,000 public comments, the FTC adopted a final rule addressing non-compete
The Need for Estate Planning
By: Corey W. Moore, Esq. June 4, 2024 Estate planning is not just for the wealthy or elderly; it is a vital task that every adult individual should undertake. At its core, estate planning involves making arrangements for the management and distribution of one’s assets and belongings in the event
Commercial Landlords & Property Managers Beware! Alleged Discrimination May Impede Eviction
By: Lee J. Morehead, Esq. May 5, 2024 On February 20, 2024, the Colorado Supreme Court ruled that a tenant could allege violations of the Colorado Fair Housing Act as a defense to an eviction proceeding. Previously, tenants had to countersue for the alleged violations, thus allowing the eviction process
Colorado’s Agricultural Equipment Right to Repair Law in Effect
By: Frederick J. Steimling, Esq. March 1, 2024 On January 1, 2024, Colorado’s first-of-its-kind Right to Repair agricultural equipment law, the Consumer Repairs Bill of Rights Act (CRBR), went into effect. In short, the CRBR requires the original farm equipment manufacturer to provide owners and independent repair providers with resources
Trademarks: Should I Register?
By: Derrick K. Galantowicz, Esq. February 1, 2024 Whether it be a logo, slogan, or a brand name, trademarks are all around us. Many businesses reach a point in their lifecycle when they consider whether they should federally register their brand name or logo with the United States Patent and
Dissolution: The Inferior Default Exit Strategy
By: Lee J. Morehead, Esq. December 1, 2023 Dissolution of a business or company occurs either voluntarily or judicially. In the case of voluntary Dissolution, all owners must agree either to dissolve the entity or identify a triggering event that will cause Dissolution. To accomplish judicial Dissolution, the owner(s) seeking
Taking Advantage of the Estate and Gift Tax Exemption
By: Corey W. Moore, Esq. November 1, 2023 The United States Internal Revenue Code, Subtitle B–Estate and Gift Taxes, provides every taxpayer with the ability to exempt a certain amount of assets from their estate. The Estate and Gift Tax Exemption (“Exemption”) for a single individual in 2023 is $12.92
Are You Ready for the Corporate Transparency Act?
You may or may not have heard of the Corporate Transparency Act (CTA), a component of the Anti-Money Laundering Act of 2020, which takes effect January 1, 2024. This law is, at its heart, an anti-crime law intended to combat money laundering, terrorism financing, tax fraud, human trafficking, and other illicit
Are Verbal Agreements Enforceable in Colorado?
To the surprise of many non-lawyers, most verbal agreements are enforceable under Colorado law, subject to a few categorical exceptions. Generally, the formation of a binding contract requires only that the contracting parties reach a “meeting of the minds” about the sufficiently definite terms of their agreement, and that the
Trust – Probate
By: Timothy P. Brynteson, Esq. May 2015 Estate planning attorneys are frequently asked by clients to explain the difference between a “will” and a “trust.” This is normally in the context of planning for the disposition of assets upon the client’s death – so we surmise that clients are looking
The Federal Trade Commission New Non-Compete Rule in Effect
By: Frederick J. Steimling, Esq. July 2024 The Federal Trade Commission (FTC) proposed the Non-Compete Clause Rule on January 19, 2023, under sections 5 and 6(g) of the FTC Act. After a comprehensive review of empirical research and over 26,000 public comments, the FTC adopted a final rule addressing non-compete clauses. The issuance of this final rule declares that entering into non-compete clauses with workers after the rule’s effective date of September 4, 2024, is an unfair method of competition, thus banning new non-competes. For existing non-compete agreements, the rule differentiates between senior executives and other workers. Non-competes with senior executives remain enforceable, while those with other workers become unenforceable after the rule’s effective date.
The Need for Estate Planning
By: Corey W. Moore, Esq. June 4, 2024 Estate planning is not just for the wealthy or elderly; it is a vital task that every adult individual should undertake. At its core, estate planning involves making arrangements for the management and distribution of one’s assets and belongings in the event of incapacity or death. While contemplating and discussing mortality may not be an enjoyable experience, the reality is that proactive estate planning is essential for protecting loved ones, preserving assets, and ensuring one’s wishes are honored. One of the primary reasons for estate planning is to provide clarity and direction for the distribution of assets. Without a valid estate plan in place, the fate of
Commercial Landlords & Property Managers Beware! Alleged Discrimination May Impede Eviction
By: Lee J. Morehead, Esq. May 5, 2024 On February 20, 2024, the Colorado Supreme Court ruled that a tenant could allege violations of the Colorado Fair Housing Act as a defense to an eviction proceeding. Previously, tenants had to countersue for the alleged violations, thus allowing the eviction process to proceed while the discrimination claim was later determined. Under this recent ruling, however, tenants can avoid eviction if the reasons for the eviction were discriminatory. The Colorado Supreme Court’s decision allows commercial tenants to allege discrimination as a defense to eviction. When asserted, there is a higher likelihood that the eviction proceeding will: (1) be transferred from the County Court to the District Court;
Colorado’s Agricultural Equipment Right to Repair Law in Effect
By: Frederick J. Steimling, Esq. March 1, 2024 On January 1, 2024, Colorado’s first-of-its-kind Right to Repair agricultural equipment law, the Consumer Repairs Bill of Rights Act (CRBR), went into effect. In short, the CRBR requires the original farm equipment manufacturer to provide owners and independent repair providers with resources including parts, embedded software, firmware, tools, and guides, enabling farmers and repair providers with the ability to repair their agricultural equipment. The CRBR also provides legal redress for farmers and independent repair providers for non-compliance of the CRBR by manufacturers and prevents manufacturers from entering contracts that limit access to repair resources. Historically, manufacturers have imposed artificial barriers to prevent do-it-yourself repairs, citing concerns that
Trademarks: Should I Register?
By: Derrick K. Galantowicz, Esq. February 1, 2024 Whether it be a logo, slogan, or a brand name, trademarks are all around us. Many businesses reach a point in their lifecycle when they consider whether they should federally register their brand name or logo with the United States Patent and Trademark Office (USPTO). What is a Trademark? A trademark is a unique identifier, be it a word, logo, phrase, etc., that identifies a service or product from a specific source and distinguishes it from others. A trademark must be distinctive and not generic or descriptive of the service or product. The USPTO categorizes goods and services into 45 trademark classes (34 classes for goods and
Dissolution: The Inferior Default Exit Strategy
By: Lee J. Morehead, Esq. December 1, 2023 Dissolution of a business or company occurs either voluntarily or judicially. In the case of voluntary Dissolution, all owners must agree either to dissolve the entity or identify a triggering event that will cause Dissolution. To accomplish judicial Dissolution, the owner(s) seeking Dissolution must prove that it is not reasonably practicable to continue the business. Judicial Dissolutions are treated like any other lawsuit, incurring cost in both time and legal expenses associated with pleadings, discovery, and trial. However, obtaining Dissolution is just the first step in completing the process, each of which has the potential to be hotly contested. Examples of the steps and potential disputes are:
Taking Advantage of the Estate and Gift Tax Exemption
By: Corey W. Moore, Esq. November 1, 2023 The United States Internal Revenue Code, Subtitle B–Estate and Gift Taxes, provides every taxpayer with the ability to exempt a certain amount of assets from their estate. The Estate and Gift Tax Exemption (“Exemption”) for a single individual in 2023 is $12.92 million, meaning an individual could either: The Internal Revenue Service (IRS) will increase the Exemption in both 2024 and 2025 to match the rate of inflation. However, in 2026 it is anticipated that the IRS will lower the Exemption to one-half of the then-2025 Exemption amount. While there are various estate planning techniques that may be used to take advantage of the Exemption, one of
Are You Ready for the Corporate Transparency Act?
You may or may not have heard of the Corporate Transparency Act (CTA), a component of the Anti-Money Laundering Act of 2020, which takes effect January 1, 2024. This law is, at its heart, an anti-crime law intended to combat money laundering, terrorism financing, tax fraud, human trafficking, and other illicit activities. However, it will affect a broad range of individuals and companies who own or manage businesses and/or invest in real estate. The goal of the CTA is preventing bad actors (criminals) from utilizing complex corporate structures and shell companies to hide their identities and move money through the U.S. financial system. Although most of you reading this article are not bad actors hiding your identities
Are Verbal Agreements Enforceable in Colorado?
To the surprise of many non-lawyers, most verbal agreements are enforceable under Colorado law, subject to a few categorical exceptions. Generally, the formation of a binding contract requires only that the contracting parties reach a “meeting of the minds” about the sufficiently definite terms of their agreement, and that the agreement is supported by adequate consideration. A contract may be evidenced by either the written or spoken words of the parties. There are several categories of contracts, however, which courts may only enforce if a writing evidencing that agreement exists. The most common categories are: (1) contracts for the transfer of land; (2) contracts that cannot be performed in less than a year; (3) contracts
Trust – Probate
By: Timothy P. Brynteson, Esq. May 2015 Estate planning attorneys are frequently asked by clients to explain the difference between a “will” and a “trust.” This is normally in the context of planning for the disposition of assets upon the client’s death – so we surmise that clients are looking for information regarding the differences between and the benefits of both Wills and Living Trusts as testamentary instruments. Many times, our clients will have the general impression that Living Trusts are “better” than Wills and have a notion that they may save taxes, may protect assets in some way, insure privacy and avoid probate, but they aren’t sure and want to understand how they work;
