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Campolo, Middleton & McCormick, LLP is a full-service business law firm that represents clients in a wide variety of legal matters including corporate, healthcare, intellectual property and technology, labor and employment, liability insurance & insurance coverage, litigation and appeals, matrimonial, mergers and acquisitions, municipal liability and government relations, private equity, real estate development, white collar defense and wills, trusts and estates.
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DISCLAIMER:
The information contained in this newsletter is provided for informational purposes only, and should not be construed as legal advice on any subject matter. The Firm provides legal advice and other services only to persons or entities with which it has established an attorney-client relationship. No recipients of information from this newsletter, clients or otherwise, should act or refrain from acting on the basis of any information included in this newsletter without seeking appropriate legal or other professional advice on the particular facts and circumstances at issue from an attorney licensed in the recipient's state. The content of this newsletter contains general information and may not reflect current legal developments. The Firm disclaims all liability in respect to actions taken or not taken based on any or all of the contents of this newsletter.
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To protect shareholders, in certain circumstances the law places liability upon corporations and their directors and officers for damages caused by conduct harmful to shareholders or conduct that breaches fiduciary duties. Just the way car owners and homeowners have insurance to protect themselves from potential liability claims against them, corporations and their directors and officers can have similar protection. Directors' and Officers' ("D&O") liability insurance protects individual directors and officers, as well as their corporations, defending against claims of wrongful conduct specified in the coverage and losses incurred to a corporation directly in connection with those claims.
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In prior months, I have discussed cases involving businesses pursuing lawsuits against former employees due to perceived violations of, among other things, non-compete and/or non-disclosure agreements, as well as alleged misappropriation of trade secrets. While the former employer is usually the one to commence the lawsuit, there are times when the former employee may also fight back with claims of his or her own. This is exactly what happened in a recent case out of the New York County Commercial Division. Luckily for the employer, certain of the former employee's claims were dismissed.
Read More.
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Medical Providers Must Take Steps to Protect Out-of-Network Reimbursements Under New York's "Surprise Medical Bills" Law
By William McDonald, Esq.
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Medical providers must plan now to comply with New York's new "Surprise Medical Bill" law, which takes effect April 1, 2015. In short, for "surprise bills," the law caps a patient's financial responsibility for out-of-network medical services to an amount no greater than if the patient saw an in-network provider. Medical providers who do not comply with the mandatory disclosures under the law will find their bills classified as "surprise bills," which means that they must pursue arbitration directly with the insurance carrier to obtain reimbursement. For surprise out-of-network medical bills, medical providers may not pursue reimbursement directly from the patients.
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ABCs of Protecting Employee-Generated IP
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Most companies assume that any intellectual property (IP) created by their employees in connection with their job duties automatically become the employer's property. This assumption, however, is often incorrect, and can lead to lengthy and costly disputes. Generally, an employer's right to IP created by an employee depends on the circumstances of the employee's hire and whether the employer and employee entered into an agreement that fully assigns the IP to the employer.
Read More.
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The answer is one of my great attorney answers: "It depends." In general terms, there is no gift tax in New York. So for the remaining part of the discussion, we will be focusing on federal gift and estate taxes.
It's actually what's referred to as a uniform gift and estate tax. That means you have a $5.43 million exemption. Whatever you don't give away during your lifetime, you can give away (tax-free) upon your death. The IRS just wants to keep tabs on what you give away during your lifetime so they know how much of an exemption you have left when you die.
Read More.
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CMM Proud to Attend the 2015 BOLI Awards Gala
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CMM was proud to attend and celebrate with fellow 2015 "Best Of" awardees at the Official Winner's Celebration held at Oheka Castle on Tuesday, February 24, 2015.
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| Southampton Chamber Breakfast: Bleed to Succeed
Presentation with Joe Campolo
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The Southampton Chamber of Commerce will be hosting a Membership Buffet Breakfast with Joe Campolo as the featured guest speaker on March 5, 2015. Building on his popular Bleed to Succeed� series, Joe will share strategies and perspectives on creating your own definition of success, setting your own goals, and developing a plan to successfully build your business. For more information visit here.
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CMM Executive Breakfast: Master the Art of Meaningful Networking
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CMM will host its next Executive Breakfast Series on March 4, 2015, with Terri Alessi-Miceli. Join us as we discuss networking strategies to successfully market yourself and your busines. Seating is limited; please contact [email protected] if you are interested in attending.
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Protecting Your Hard Earned Estate: Presentation by Martin S. Glass
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CMM attorney Martin S. Glass, Esq. will be giving a presentation on Protecting Your Hard Earned Estate as a part of the Stony Brook University Healthier U Caregiving Series. Learn how to protect your estate at this event on Tuesday, March 10th or Thursday, March 12th. Visit here for more info and to register.
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