This blog post will explore two different employee ownership models – ESOPs and Cooperatives. It will discuss the distinctive features, advantages, and challenges of each model, and will briefly compare the two. Our hope is to help readers better understand these two models, and when either might be a suitable ownership structure for an organization …
Overcoming Challenges: Navigating Employee Ownership Conversions
Employee ownership can be a powerful tool for businesses, providing a wealth of benefits such as increased productivity, higher job satisfaction, and improved financial performance. However, transitioning to this model can come with its unique set of challenges. Here, we outline some common hurdles in employee ownership conversions and provide practical strategies to address them. …
Department of Labor Issues New Final Rule (2024) to Clarify Employee vs. Independent Contractor Status under FLSA
We previously wrote on the U.S. Department of Labor (DOL)’s 2021 rule publication regarding classification of employees and independent contractors in the context of gig workers. The DOL has again published a new final rule clarifying the test for determining the status of a worker as an employee or an independent contractor. For any business …
Factors for a Successful Business Succession through Worker Ownership
For a few years now, we have been hearing about the approach of a “silver tsunami.” For those unfamiliar with the term, it refers to the demographic phenomenon of an aging population, associated mostly with the large wave of retirement that the baby boomer generation is about to go through. With small businesses employing roughly …
CORPORATE TRANSPARENCY ACT It’s Time to Report Part 3: The FORM
This is Part 3 of a 3-Part series (Part 1: It’s Time to Get Prepared & Part 2: FAQs) of information we are sending to our small business clients regarding the Corporate Transparency Act (CTA) and its impact on millions of small businesses. The CTA was passed by Congress a couple of years ago and …
Reflections on Co-op Cincy and Cooperative Professionals Guild Conferences in 2023
I recently attended two cooperative-related professional events in 2023: the Co-op Cincy Union Co-op Symposium and the Cooperative Professionals Guild Conference. As someone relatively new to practicing law in the cooperative movement space, I wanted to share my reflections and thoughts following these very inspiring experiences. By starting as an associate attorney with JWPC in …
Crowdfunding: How it Works and How to Prepare for a Crowdfund Raise
The past couple of years have presented challenges for small businesses and startups seeking to raise capital. In the third quarter of 2023, seed and early-stage funding continued to decline, we saw the lowest deal count in three years, and the ripple effects from the tech downturn are still playing out. Although there are glimmers …
CORPORATE TRANSPARENCY ACT: It’s Time to Get Prepared Part 2 – FAQs
This is Part 2 of a 3-Part series (Part 1: It’s Time to Get Prepared & Part 3: The Form) of information we are sending to our small business clients regarding the Corporate Transparency Act (CTA) and its impact on millions of small businesses. The CTA was passed by Congress a couple of years ago …
Worker Cooperative Board Compensation
Introductory note: this blog post will be discussing board compensation for worker cooperatives. It does not address other forms of cooperatives (purchasing, marketing, producer, etc.) which may not have the same issues as worker cooperatives regarding board compensation. When starting a business, among many of the decisions the organization must make is what to pay …
CORPORATE TRANSPARENCY ACT: It’s Time to Get Prepared
This is Part 1 of a 3-Part series (Part 2: FAQs & Part 3: The Form) of information we are sending out to our small business clients regarding the Corporate Transparency Act (CTA) and its impact on millions of small businesses. The CTA was passed by Congress a couple of years ago and the government …
