Corporate Law

We recently posted on the new Beneficiary Ownership Reporting Rule issued by the Financial Crimes Enforcement Network (FinCEN). The new rule went into effect on January 1, 2024. While our last post provided a general overview of the new rule, our office received several questions on what information the new rule actually requires a company to report. Let’s take a detailed look so that all your...

The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has issued a new Beneficial Ownership “Reporting Rule.” The new rule went into effect on January 1, 2024. Let’s take a look at the new rule and how it may affect your business. Please contact the McWilliams Law Group now if you have any questions. What Does the Reporting Rule Require? The new Reporting Rule...

Image from Pattanaphong Khuankaew. In the dynamic world of business, companies often face the challenging decision of dissolving their operations. Whether due to financial struggles, changes in market conditions, or strategic shifts, business dissolutions require careful considerations and adherence to legal processes. Let’s take a look at some of the most important things a company should...

Acquiring a new business is definitely an exciting undertaking. However, the acquisition process is often complex and you need to keep several considerations in mind to protect yourself and your assets. While every acquisition is unique, and the legal complexities can vary widely, you should keep the below issues in mind. Key Considerations The following are the most important thoughts to...

For those unfamiliar with Chat GPT, it’s essentially an artificial intelligence (AI) chatbot that was created by a company called Open AI. It has received much attention as of late for its keen ability to generate all types of content and documents, from content for social media to memos to email content. You just ask the chatbot a question or enter in some search terms, and you have the...

Washington state law defines trade secrets as information that is both not generally known to the public and provides a competitive advantage to a business. This information can include such things as formulas, patterns, designs, compilations of data, customer lists, or any other information that is kept confidential and is important to a business. Trade secrets can be critical to the success...

A non-compete clause is a common clause that you will see in a Washington employment agreement. The provision essentially prevents a former employee from working for another company in certain situations. Including a non-compete clause in your employment contract can work to effectively keep your competitors at bay. What is a Non-Compete Provision? A non-compete clause basically prevents a...

The term “indemnity” often arises in the context of business contracts. In particular, it helps explain how one party to a contract will get compensated following a financial loss because of another party’s conduct. But please keep in mind that the particular way an indemnity provision will work often depends on the specific language used in an agreement. What Does “Indemnity” Mean? Let’s...

If you want to dissolve your Washington Corporation or limited liability company (LLC), you’ll want to make sure you follow all the necessary steps. A failure to do so can result in the accrual of annual report fees and late fees. Not to mention, you might continue to receive phone calls and emails from people who believe you’re still in business. Simply follow the steps below and contact the...

The Independent Contractor Protection Ordinance (ICPO) is a new Seattle ordinance that is set to go into effect on September 1, 2022. The new law is designed to protect independent contractors in terms of both payment and information surrounding their conditions of work. Since our firm has already screened several calls regarding the ICPO, we provide the following details. Definition of...