June 2023 - MPL Law Firm

Time is “Not” Always On My Side

I don’t know about you, but work-life balance can get off kilter at times, actually more than at times, a lot of the time. I was listening to the Rolling Stones station the other day and the song “Time is on my side” came on. The first thought that came to mind was that this song is the exact opposite of most of my days. However, it does not have to be that way.

When you run your own business or make your own hours, I have learned it is critical to make a schedule and set boundaries. However, that very statement alone, while easily said, is not so easy to execute when you are constantly looking to keep your book of business filled. Below are some good articles with tips on achieving the holy grail of “work-life” balance.

I will leave you with this quote from Jack Welch

“There’s no such thing as work-life balance. There are work-life choices, and you make them, and they have consequences.”

A few things that may be of interest:

Total Compensation Packages: Getting it Right for Today’s Employee | Stambaugh Ness (7/11; 2-3pm EST)

As always, please don’t hesitate to email myself (jsanders@mpl-law.com), Andy Miller (amiller@mpl-law.com), Christian Miller (cmiller@mpl-law.com), Erik Spurlin (espurlin@mpl-law.com), Brad Leber (bleber@mpl-law.com) or anyone in our office with questions or comments.  

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Halfway Through 2023 and It Feels Like Groundhog Day

We are almost halfway through the year and businesses are still fighting supply chain constraints, inflation, rising interest rates and the impact of international strife. Business leaders want people back in the office full time, vendors continue to push deliveries out, pricing keeps increasing and so on.

Do you feel like your head is on a bit of a swivel or is it Groundhog Day? Now is not the time to sit back on your laurels and hope that things will settle down. How will you finish the 2023 game? To help trigger some thought, how about considering the following questions:

When do your vendor contracts renew? Should I accept the price increases?
What are my options if a key supplier goes out of business?
What is my pricing strategy for the rest of the year?
What’s the point of paying for business interruption insurance, it did not cover me with the pandemic shutdown?
I would like to allow some of my staff to work virtually, but really want them back in the office on a more regular basis. What are my options?
I have key client agreements coming up for renewal. What should I be adding or modifying in the agreement in this new post-pandemic, higher interest rate environment?
With my employees working virtually all over the country (and even the world), what taxes am I responsible for?
Do I have the right strategy in place for my business?

This list could go on and on. What are you going to do with your business and how will you react? Remember, you are not alone and stranded on an island. It may be time to sit down with your team (mentors, professional advisors and senior leaders) and talk about these issues. I think you will find that the issues become less of an “issue” and evolve into more of a “solution”.

A few things that may be of interest:

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Lions and Tigers and Bears, Oh My! Avoiding Groupthink

Each morning, I scan the headlines to stay in the loop with the news of the day. Inflation, downturns, recessions, layoffs, pullbacks, hard landing, soft landing, and so on….these are all the buzzwords being thrown around in the major news outlets and social media channels. As Dorothy famously said in the Wizard of Oz….Lions and Tigers and Bears, Oh My!….and we all know how that story worked out in the end.
Take a look at some the most recent articles:

What is really happening? Better yet, are the themes in these articles a reality or someone’s perception of reality? From my perspective, I tend to think there is a bit of “groupthink” going on.

How does this “groupthink” impact your business and what should you do? I am not telling you there is not some merit to these themes. However, those that remain focused on their goal, ignore the “groupthink” trap, and make their own reality are those who are usually successful in business over the long haul. If you don’t believe me, try and find success stories with the following headline – “My success was driven by doing what everyone else was doing”. I think you will be looking for a while. The articles below offer some interesting insights on this topic:

If you need help, I’d recommend reaching out to a business coach, business mentor or any one of the mastermind groups that are out there. At the end of the day, you make your own reality.

Here are a few other things that may be of interest:

Economic Review: June 2023 – Silvercrest (silvercrestgroup.com) (thanks to Sean O’Dowd for sharing)
Key Themes Behind the Market in 2023 – The Latest from Brian Luster @ Collective Family Office
SALT: What’s New, What’s Changing, and What’s Staying the Same (stambaughness.com) (06/20 @ 3pm)

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Shhh, it’s a secret – Confidentiality Clauses/Agreements

Remember as a kid when you were told a secret by a friend? You kind of felt special because they were entrusting you with some knowledge that no one else knew. If you in turn revealed that information to someone else and got caught, you probably lost that friendship. Well, confidentiality agreements (or clauses) are kind of the same thing.

Essentially, a confidentiality clause or agreement is a promise between two parties that certain information must be kept secret (i.e., the receiving party cannot disclose the information obtained from the disclosing party). A well written confidentiality agreement will specifically define the information that is covered. Typically, this information cannot be revealed for a set amount of time. However, if the information is already known in the public or can easily be learned independently, then it is not confidential. Also, if you are required by law (i.e., a court order or regulatory investigation) to disclose the information, then that would be excluded as well. Lastly, if this agreement is violated, then the disclosing party will likely sue the receiving party for damages.

The bottom line is that confidentiality agreements/clauses are important tools to protect a company’s trade secrets and processes. Remember, shhh, it’s a secret!

Here are a few other things that may be of interest:

Here is the latest update from August Wealth Advisors (thanks to Howard Greenberg for sharing)
Webinar | Classifying Workers Correctly: Employee or Independent Contractor? (nfib.com) (06/07 @ 12pm)
Supreme Court Limits EPA’s Authority Over Water (nfib.com)
SALT: What’s New, What’s Changing, and What’s Staying the Same (stambaughness.com) (06/20 @ 3pm)
Your Next Move with Cate Luzio – Virtual Event 6/7 at 12:00 PM ET (inc.com)
Navigating the Impacts of the EU’s ESG Reporting Requirements on US-Based Companies (eisneramper.com) (06/07/23 – 12-1pm)

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Sticks and Stones: Non-Disparagement Clauses

Do you remember when you first heard the following: “Sticks and Stones May Break Your Bones, But Names Will Never Hurt You”. Well, that isn’t always true. You can thank Attorney’s for that one (yes, I am making fun of myself and our profession).

Non-disparagement clauses essentially protect a company from having a former employee or owner go out and blast them publicly. Even if what is said is true, if it hurts the company and they can prove damages, then they can enforce a non-disparagement clause.

Also remember, this is not libel, slander or defamation, it is non-disparagement (i.e., you can’t say bad things regardless of their truth). The exceptions to enforcement of this clause are primarily if a government agency is conducting an investigation and telling the former employee or owner that they must provide the information. Outside of that, if a former employee or owner says something negative, the company can go after them for damages.

If you have questions about this clause and its enforceability, please make sure you consult with your business legal counsel. I will leave you with this final thought about non-disparagement clauses: “If you don’t have anything nice to say, don’t say anything at all”

Happy Memorial Day and thanks to all who serve, served or gave their life serving.

Here are a few other things that may be of interest:

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