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Navigating “Pay-if-Paid” and “Pay-when-Paid” Clauses in DC, Virginia, and Maryland: A Guide for Construction Professionals
February 27, 2024 By Juanita F. Ferguson | Real Estate, Land Use & Construction Law
In the fast-paced world of construction, managing financial risk is paramount for both general contractors and subcontractors. A critical aspect of this risk management is understanding the contractual mechanisms in place, particularly “Pay-if-paid” and “Pay-when-paid” clauses. These clauses can significantly impact the cash flow and financial stability of the parties involved. Here’s what you need to know about these clauses in Washington D.C., Virginia, and Maryland.
Read More...Avoiding the “Sunk Cost Fallacy” in Legal Disputes
When considering a settlement proposal, businesses and individuals alike often fall into the decision-making trap termed the “sunk cost fallacy.” This article will discuss what the sunk cost fallacy is, provide common examples, and explore strategies for avoiding its pitfalls.
Read More...What is a “Low Wage” Worker and Why It Matters to Virginia Employers
The Virginia Department of Labor and Industry (DOLI) announced recently that the average weekly wage, which is used to define “low wage employee” in the Commonwealth would increase to $1,410 per week in 2024, up from $1,343 per week in 2023. Why might that matter if you are a Virginia employer?
Read More...Generative AI and Intellectual Property: Navigating the Trademark Terrain
In our previous exploration of generative AI, we pierced the veneer of copyrights. Today, we venture further into the realm of Intellectual Property (IP), focusing on another cornerstone: trademarks. As AI’s prowess expands, the boundaries of trademarks are increasingly tested, compelling us to reexamine foundational principles in this AI-infused era.
Read More...When Stormy Weather Closes Your Business, Do You Still Have to Pay Your Employees?
For the first time in more than two years, the northern Virginia area was blanketed by a significant winter storm recently, with enough snow accumulation that many businesses made the decision to close for the day. Those office closures likely raised questions that many Virginia employers hadn’t thought about for a while: Do I have to pay my employees, if I decide to shut things down because of bad weather?
Read More...The Labyrinth of Civil Disputes: A Litigator’s Guide to Alternative Dispute Resolution (ADR)
In the world of civil litigation, the pursuit of resolution does not always necessitate the formal battleground of a courtroom. As a practical litigator at Bean, Kinney & Korman, I recognize how valuable it is to guide parties through the Alternative Dispute Resolution (ADR) process—often a more collaborative and empowering pathway to settle disputes. ADR encompasses a spectrum of methodologies, each designed to facilitate a resolution tailored to the nuanced needs of the parties involved, well before the specter of a trial looms on the horizon.
Read More...What is “Beneficial Ownership” under the Corporate Transparency Act?
In a move to fortify transparency within corporate America, the enactment of the Corporate Transparency Act (CTA or Act) and its implementing regulations have introduced critical changes to the reporting and disclosure requirements for businesses. A central aspect of this legislation is the concept of “beneficial ownership.” This term, crucial yet complex, is essential for compliance officers, business owners, and stakeholders to fully understand. This blog aims to provide a detailed overview of what “beneficial ownership” means under the CTA and the ensuing responsibilities for beneficial owners.
Read More...Generative AI and Copyright Law: The Future Awaits Deciphering
Introduction: Embracing the Digital Renaissance
In the expansive digital universe, few technological marvels evoke as much fascination and debate as generative AI. At its core, this technology, powered by intricate algorithms, challenges conventional notions of creativity by producing content autonomously, often surpassing human capabilities in nuance and complexity. But as with all disruptive innovations, its rapid ascent brings with it a plethora of unresolved questions, particularly in the realm of legal rights and protections.
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