In 2021, Congress passed the Corporate Transparency Act (CTA). Shortly after, the Department of the Treasury’s Financial Crimes Enforcement Network (FinCen) began work on regulations designed to implement the CTA. The purported purpose is to combat illegal activity that is hidden behind business entities (for example, money laundering). The proposed regulations have now been published, and it is clear that they will require closely-held businesses to report ownership and other information to the Treasury.
The new legislation will have a real and meaningful impact. Now, companies that are owed money or are the victim of a breach of contract have the right to recover their attorney’s fees if they are successful in the lawsuit.
Getting sued in today’s business environment is pretty much a cost of doing business. But, that does not mean that it should be the end of your business. This short article is designed to help you navigate the waters if you do get sued.
Late last year, the Texas Legislature made a number of changes to the Texas Property Code that will impact not only construction contractors, but also owners of construction projects. Those changes apply to all private commercial construction projects where the original contract between the owner and contractor is signed on or after January 1, 2022.
Ask any business owner what they expect their greatest challenge to be in 2022, and virtually every one will have attracting and retaining talent in their top two list. The last couple of years has brought us The Great Resignation on the one hand and greater mobility between job positions than we have experienced in a very long time. In 2022, talent will continue to be hard to find and even harder to retain.
At the end of last year, ZDNet posted an article saying that businesses should expect to be screwed by ransomware in 2022. We have all heard of ransomware, and some have even been hit by it. Those who have know it is crippling and expensive to remedy. So, the question is are you prepared for it or prepared to be screwed by it?