A registered agent, also known as a statutory agent or agent for service of process, is a designated individual or entity responsible for receiving legal documents, official government correspondence, and notices on behalf of a business entity. The registered agent serves as a point of contact between the business and the state government, ensuring that … Continue reading Why do you need a registered agent?
Startup Legal Checklist
It’s important to set up your business correctly in order to preserve liability protection and limit your exposure to lawsuits. Startup legal representation typically involves work in one or more of the following areas: Entity Formation (e.g. C Corp, LLC, etc.) Initial Capital Structure (Preferred Stock, Common Stock, Debt Instruments, Safe Notes, etc.) Agreements Between … Continue reading Startup Legal Checklist
Trade Associations React Against SEC’s Newly Adopted Private Fund Advisor Rules
A group of trade associations representing the alternative asset management industry has filed a lawsuit against the US Securities and Exchange Commission (SEC) challenging the SEC's recently adopted Private Fund Adviser rule. The trade associations, including the Managed Funds Association (MFA), argue that the rule will harm investors, fund managers, and markets by increasing costs, … Continue reading Trade Associations React Against SEC’s Newly Adopted Private Fund Advisor Rules
Are electronic signatures legally valid?
Illinois Yes, electronic signatures are generally sufficient and legally valid in Illinois, as governed by the Electronic Commerce Security Act (ECSA) and the federal Electronic Signatures in Global and National Commerce Act (ESIGN). These laws establish the legal validity and enforceability of electronic signatures and records in various transactions, including business and consumer transactions. The … Continue reading Are electronic signatures legally valid?
What is the difference between President and CEO?
The roles of President and CEO (Chief Executive Officer) are both important positions within a company or organization, but they often have distinct responsibilities and areas of focus. Here's a general overview of the differences between the two roles: President: The President is a high-level executive responsible for overseeing the day-to-day operations of the company. … Continue reading What is the difference between President and CEO?
What are the new SEC private fund advisor rules?
Today, the Securities and Exchange Commission (SEC) adopted reforms it had been considering to improve oversight and regulation of private fund advisors. The new rules and amendments are aimed at enhancing transparency, investor protection, and competition within the private fund industry. Requirements pertaining to private fund advisers registered with the Commission: Provide investors with quarterly … Continue reading What are the new SEC private fund advisor rules?
Should I form an S Corp or a C Corp?
Deciding between forming a C Corporation (C Corp) or an S Corporation (S Corp) is an important step when starting a business, and the choice depends on several factors including your business goals, financial situation, and tax considerations. Here's an overview of both options to help you make an informed decision: C Corporation (C Corp): … Continue reading Should I form an S Corp or a C Corp?
Claim Your Share of the Facebook Cambridge Analytica Settlement
If you are a Facebook user in the United States, you have less than a month to apply for a share of a $725 million privacy settlement that parent company Meta agreed to pay. The settlement is related to a lawsuit alleging that Facebook allowed millions of users' personal information to be accessed by Cambridge … Continue reading Claim Your Share of the Facebook Cambridge Analytica Settlement
What is a notary public?
A notary public is an official appointed by the government to serve as a witness and verify the authenticity of certain legal documents and transactions. Notaries play a crucial role in preventing fraud and ensuring the validity of documents. Their primary function is to witness the signing of documents, verify the identity of the signatories, … Continue reading What is a notary public?
Data Collection Abusers Risk Algorithm Disgorgement by FTC
"[I]f the commission finds that a company trained a large language model on improperly obtained data, then it will have to delete all the information along with the products developed from the ill-gotten data." Cyberscoop The Federal Trade Commission (FTC) has a powerful enforcement tool called algorithm disgorgement, which requires companies to delete products built … Continue reading Data Collection Abusers Risk Algorithm Disgorgement by FTC