Articles Posted in Contracts

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equitycrowdfundingEquity Crowdfunding – The Future of Investing?

While nearly everyone has heard of crowdfunding, the concept of equity crowdfunding is not as well known.  For those Chicago business owners that are new to this developing area, prior to May 2016, crowdfunding was available only to accredited investors or those with an annual income of at least $200,000 or a net worth of more than 1 million, not including the value of a primary residence. Although the 2012 federal Jumpstart Our Business Startups Act[1] (JOBS) provided for non-accredited investors, the Securities and Exchange Commission (SEC) did not authorize equity crowdfunding to begin until May 2016.

Since that time, Article III of the JOBS Act has seen 49 successful offerings with 11.5 million dollars committed according to a November 17, 2016, Forbes report[2] on the state of equity crowdfunding. While the report suggests that the large majority of startups are not yet using non-accredited crowdfunding under Title III, it is anticipated that equity investment platforms will see tremendous growth moving forward.

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dental officeDentists face new problems with overtime for their employees.  The Fair Labor Standards Act[1] (FLSA) sets forth standards for both minimum wages and overtime pay as well as record keeping for businesses.  Whether your dental practice consists of two employees or a hundred employees spread across three office locations, federal law requires that all dental offices comply with FLSA overtime regulations by December 1, 2016.

Exempt Versus Non-Exempt Employees

In order to determine if you are in compliance with FLSA regulations, the first step is to review which employees are designated as exempt, and not owed overtime wages, versus non-exempt. FLSA rules establish three types of exempt employees[2] which are defined by an individual’s employment description rather than their job title including:

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