Luft Tumlin PLLC

Author name: Ryan Luft

What Every Business Owner Should Know About Indemnification Clauses

Few contract provisions generate more negotiation than indemnification clauses. Yet many business owners sign agreements without fully understanding what they’re agreeing to. Here’s the short version: an indemnification clause shifts financial responsibility for certain losses from one party to another. Get it wrong, and a manageable business problem becomes an existential threat. What Indemnification Actually […]

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NDAs fail for 3 reasons.

A lot of business owners assume an NDA is rock solid. In reality, most of the ones I review fall apart in the same places. The first issue is usually around “confidential information.” If it isn’t spelled out—financials, client lists, product designs—it leaves too much room for argument. Another weak spot is timing. Courts don’t

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Standard Contract Language

I review a lot of contracts. Often, clients will send me a contract and say that the contract is standard and so shouldn’t have any issues. Here are a few key points to consider:1. Variability in Terms and Conditions: Contracts often contain terms and conditions that are tailored to specific transactions, parties, or industries. What

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SBA 7(a) Loans

I read this article last month (https://www.bizjournals.com/triad/news/2021/09/22/sba-loans-ppp-7a-lender-expire-enhancements.html?utm_source=st&utm_medium=en&utm_campaign=me&utm_content=gr&ana=e_gr_me&j=25120996&senddate=2021-09-23) about SBA 7(a) loans, and thought that this post would be helpful to some of my clients and colleagues…. An SBA 7(a) loan is a form of financing overseen by the Small Business Administration (SBA). The funding doesn’t issue directly from the SBA itself. Rather, the SBA assists

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Can Employers Mandate COVID-19 Vaccinations for Their Employees?

As new variants of the COVID-19 virus are appearing and vaccines have become more readily available, employers are challenged with creating safe and feasible return-to-work strategies for their workforces. This is leading many employers to as us whether they can encourage or require their employees to get COVID-19 vaccinations.  Employers Are Allowed to Mandate COVID-19

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Employee or Independent Contractor?

I am often asked about the difference between an “employee” and an “independent contractor”. The Internal Revenue Service (IRS) and the United States Department of Labor (DOL) set guidelines for determining the difference between an employee and an independent contractor. In certain situations, the employer could face penalties for an incorrect classification. In general, an

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What is Intellectual Property?

It is important for business owners to protect their intellectual property. Intellectual property (IP) refers to the intangible, often creative, parts of your business, such as symbols, business logos, designs, inventions, and written works. IP law provides legal protection for your business’s intangible creations by stopping competitors from stealing your ideas and enabling your business

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