In the 30-some years that I have been a lawyer, there have been many changes in the way companies do business and in how disputes are resolved. In that same period, however, I have not seen the same depth and breadth of changes in the court system. I have been a litigator representing businesses and individuals in all kinds of cases. I have been an advocate for clients in jury trials both short and long, court trials, mediations and arbitrations. I am also now a mediator and an arbitrator. Companies are now doing business at the speed of email and have global and international goals and inspirations. They have 30, 60 and 90-day business plans. When a company has a dispute, their lawyer must..
Corporate & Business law
BGS Transportation lawyers Jim Wills, Nicole Wiebold, and Carole Isakson attended the annual golf event of the Duluth Superior Transportation Association on July 19th. As always, it was great event! Jim, Nicole and Carole enjoyed catching up with clients and other trucking professionals, and although Jim’s foursome didn’t win the grand prize, they had a great time. BGS is a proud member of the Duluth Superior Transportation Association and appreciates the super awesome work this group does to educate and promote its members.
California enacted the most comprehensive data privacy laws in the US – it goes into effect on January 1, 2020 (see The California Consumer Privacy Act recent blog post). In the meantime, other states are following suit. If you do business with individuals or companies outside Minnesota, make sure you are keeping up to speed with these new laws! Texas has amended the laws that apply to data breaches, this change applies on January 1, 2020. What is a data breach? Well, it can be slightly different from state to state, which is part of the challenge. In Texas, the law concerns sensitive personal information, which is defined as 1) an individual’s first name or first initial and last name in..
DOES IT APPLY TO YOU? Do you do business in California, or otherwise collect personal information from California residents? (Hint, if you operate a website, this likely applies to you). Note that the CCPA does not apply to non-profits. It has been a year since California passed the most comprehensive data privacy laws in the U.S., and those laws go into effect in January of 2020. Is your business ready for this??? Many have been waiting for amendments to pass, but as this hasn’t happened yet (and may not for many months) the time has come to make sure your business is in compliance. Even if it applies to you, the CCPA has some important exceptions, designed to keep small businesses exempt from what can..
In 2018, the IRS modified its program for correction of plan qualification failures to significantly increase the fees for getting approval of corrections under the Voluntary Compliance Program (“VCP”). Since that occurred, the IRS has issued expanded permissible self-correction methods under Revenue Procedure 2019-19. This new Procedure provides many new ways in which a plan sponsor may act independently to fix errors to retain the plan’s tax qualification, without IRS filings, user fees, or other involvement. The new procedure permits plans to self-correct failures in two categories that previously required VCP filings: problems with participant loans and plan amendments. 1. In regards to loan failures, the new procedure permits self-correction of loan failures if the failure relates to • A default on loan payments (if..