Out of Bounds: Radius Restrictions in Shopping Center Leases
September 01, 2003
A common restrictive covenant in shopping center leases is the so-called "radius restriction," a lease provision that prohibits a tenant from opening a competing establishment within a proscribed distance from the present location. Typically, a radius restriction goes hand in hand with a percentage rent provision, which allows the landlord to participate in the tenant's gross sales after a certain threshold or "break point" is achieved.
The Effect of Bankruptcy on a Subchapter S Election
September 01, 2003
A new tax case from the U.S. Tax Court addresses the question of whether the filing of a Chapter 11 case by a Subchapter S corporation terminates the company's Subchapter S election. This case is important to the shareholders of a Subchapter S corporation that might have post-petition taxable income.
Selecting New Partners
September 01, 2003
Over the past year and a half, the recession has sparked a dramatic rise in lateral partner moves as law firms have tried to expand active practice areas and partners have sought safety in ever-larger firms.
So Far So Good for the Legal Industry
September 01, 2003
It's been a dramatic year so far for the legal industry, with signs of improvement evident, according to Hildebrandt International's mid-year report. The company provided a summary of the report for <i>Law Firm Partnership & Benefits</i>.
Around The Firms
September 01, 2003
Attorney movement among major law firms and corporations.
Use of Debit and Credit Cards by Cafeteria Plans Approved
September 01, 2003
The Internal Revenue Service has ruled for the first time that properly substantiated employer-provided medical expense reimbursements made through debit or credit cards under a health reimbursement arrangement (HRA) or health care flexible spending account (HCFSA) are excludable from gross income under Section 105(b) (Rev. Rul. 2003-43). The use of debit or credit cards by HRAs and HCFSAs will greatly streamline the reimbursement process and will eliminate employees' out of pocket expenses at the point of service - making these programs much more appealing to employees.
Around the Firms
August 28, 2003
Movement among major law firms and corporations.
Understanding the Rights and Obligations Of Your Military Reservist Employees
August 28, 2003
Last month, the authors provided background on the Uniform Services Employment and Reemployment Rights Act of 1994 (USERRA) and employee entitlements under the Act. This month, analysis of the Act concludes with a look at reemployment rights upon the employees' return and USERRA's effect on other laws.
Multi-State Firms Take Advantage of Illinois' Limited Liability
August 28, 2003
Effective July 1, 2003, pursuant to rules recently adopted by the Illinois Supreme Court, law firms with Illinois offices will be able to practice as limited liability partnerships (LLPs). In addition, co-owners of law firms organized as limited liability legal entities (ie, as members of LLPs or limited liability companies (LLCs), or as shareholders of professional corporations (PCs)) will be able to avoid exposure to vicarious liability for malpractice committed by other lawyers in their firms, if their firms meet and maintain specified minimum amounts of malpractice insurance or other proof of financial responsibility.
Are Law Firm 'Partners' Really 'Employees'?
August 28, 2003
Law firm management often assumes that some attorneys, such as partners, shareholders and of counsels, are not covered by various civil rights statutes, <i>eg</i>, the Age Discrimination in Employment Act (ADEA) and the Americans With Disabilities Act (ADA). As firms which have been sued by such attorneys or which have faced broad Equal Employment Opportunity Commission (EEOC) investigations have learned, however, such assumptions are often not well founded.
