To heighten an already exciting time of year, yesterday both Houses of Congress passed a substantial re-write of major portions of the Internal Revenue Code of 1986. All that awaits now is the formality of President Trump's signature, which as of this writing has not...
PLDO Law Blog
Month: December 2017
WORKPLACE SEXUAL HARASSMENT: A PARADIGM SHIFT?
With the seemingly daily news reports of sexual harassment scandals, business owners and investors are starting to realize an inconvenient fact: leaving the problem of workplace sexual harassment to the human resources department or middle-managers may no longer be...
Stay Ahead of the Constant Innovations in Cybercrime
Most business owners have been exposed to cybercrime during the past ten years and the rate of attack by these criminals increases daily. Cybercrime includes phishing and spamming, and those performing the criminal act are referred to as "hackers." Cybercrime is...
RI Marijuana Cultivators License Application Process Will Not Reopen in 2018
Late last week, the Rhode Island Department of Business Regulation (DBR) announced that the agency will not reopen the licensed cultivator application process in 2018. In the notice, the DBR stated that under its authority it "may modify the licensed cultivator...
LAST MINUTE CHANGE TO RI ADULT USE CANNABIS LEGISLATION BENEFITS LICENSED CULTIVATORS
Rhode Island appears to be on a definitive track towards legalization of cannabis and establishing a framework for its adult use industry. More than 15 years after establishing its medical marijuana program and, following years of on-and-off momentum, the Rhode Island...
THE TREES CAN STAY (FOR NOW) – A LESSON ON WRIT OF MANDAMUS
In a recently published opinion, the Rhode Island Supreme Court addressed when it is and is not appropriate for the court to grant the issuance of a writ of mandamus. A writ of mandamus is used to compel the performance of an act by a public officer. In the case...
DIRECTED TRUSTS PROVIDE FLEXIBILITY FOR THE CLOSELY-HELD BUSINESS OWNER
In July 2021, Florida adopted the new Florida Uniform Directed Trust Act (“FUDTA”). Modern directed trusts are one of the best vehicles to provide intergenerational wealth preservation and flexibility. Historically, all the functions of a trustee have been handled by...
NUTS & BOLTS OF A ROLL-UP STRATEGY IN BUSINESS ACQUISITIONS
In a roll-up strategy, the buyer—usually a private equity fund—identifies a highly fragmented industry, which is a situation where multiple companies compete, and there is no single or small group of companies that dominates that specific industry. Subsequently, the...
THE SAFE BANKING ACT: WILL 2022 OPEN THE DOOR FOR CANNABIS BUSINESSES TO ACCESS COMMERCIAL BANKING?
Lawful cannabis businesses in the United States have historically and predominately relied on private funding to establish and prop up their operations until they can sustain themselves as revenue-driven enterprises. This is because cannabis remains illegal under...
